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Southeast Asian HV Transmission Market

  • January 2014
  • 139 pages
  • Frost & Sullivan
Report ID: 2003744

Summary

Table of Contents

Unreliable and Weak Transmission Infrastructure Seeks Investments from State Electricity Utilities

The Southeast Asian region has an unreliable and obsolete power transmission grid which faces frequent black-outs resulting in severe losses. Power utilities in the region have geared-up and have decided to invest in power generation projects. However, the grid is unable to take this excessive pressure that will build up when this additional power is injected into the grid. This has forced the utilities to invest in transmission grid infrastructure development. The projected investments are likely to contribute extensively to the transmission equipment and EPC services market. This is the major driver for the market growth during the forecast period of 2014–2018. The base year for the study is 2013.

Executive Summary

• The high voltage (HV) transmission market is in the growth phase in Southeast Asia (SE Asia). The market revenue in 2013 was Xmillion, of which Engineering Procurement and Construction (EPC) services contributed X%, HV switchgears X%, power transformers X%, and capacitor, Flexible AC transmission Systems (FACTS), and HV cables constituted the rest.
• By 2018, the total market revenue is forecasted to grow to $X million. The EPC services segment is forecasted to have the highest CAGR growth of X% during the next five years.
• The volume of projects in the market, increasing land costs, labor wages, strict labor laws, and transportation costs have a significant impact on market growth.
• Investment into transmission in the region is projected to grow at CAGR of X% during 2013–2018, which drives the equipment and EPC services market.
• In 2013, Indonesia was the largest market in SE Asia, with a share of X% in total revenue. It is also the fastest growing market at CAGR of X% for 2013–2018.
• Developing countries in the region have projected a high demand growth and have streamlined the installed capacity addition to support this demand. Transmission companies have laid out a complementing investment plan to assist in addition of generation capacity.
• Stringent regulations on ‘local content value’ in project revenue, unfair utility decisions on tender awarding, and project delays are some key market restraints.
• The top X market participants are ABB Ltd., ALSTOM grid, Siemens A.G., Crompton Greaves, and Xian Electric Engineering Co. Ltd. They constitute X% of the market share.
• Popular regional companies are Hyundai Heavy Industries, Tirathai Co. Ltd., Tenaga Switchgear, EVN Thu Duc, and so on.
• Regional vendors are strengthening their facilities to support local market demand. South Korean, Chinese, and Indian manufacturers are increasing their participation in the market with their low-priced products.
• Besides, utilities have subsidiaries that are capable of supplying transmission equipment. This makes it harder for the Western multinationals to enhance their presence among the utilities in the region.

CEO’s Perspective

1. Thailand and Indonesia were the biggest markets contributing X% and X%, respectively, to the total market revenue in 2013.
2. ncreasingly, transformer procurements are being routed directly to the utility and EPCs supply and install the rest of the equipment in a project; this slashes the EPC’s profit margin by a significant percentage.
3. Price, technical support and after-sales service are the key criteria that drive a transmission company’s product procurements.
4. Regional manufacturers are strengthening their facilities to support local demand; Chinese and South Korean manufacturers are strengthening their foot-hold amongst utilities.
5. The price of transformers is likely to reduce because of the influx of low-cost products and increased competition in the market.

Market Overview—Segmentation

Equipment and Services
• Power Transformers
• HV Switchgears
• Capacitor Banks and FACTS
• HV Power Cables
• EPC Services

Geography
• The Philippines
• Indonesia
• Vietnam
• Malaysia
• Thailand
• Rest of SE Asia

Market Overview—Research Scope

Research Coverage:
This research covers the following countries:
• The Philippines
• Indonesia
• Vietnam
• Malaysia
• Thailand
• Rest of SE Asia (includes countries such as Myanmar, Laos PDR, and Cambodia; Brunei is not covered in the study)
• Singapore

Research Period:
• Study Period: 2011 to 2018
• Base Year: 2013
• Forecast Period: 2014 to 2018

Key Questions This Study Will Answer

Is the market growing, how long will it continue to grow, and at what rate?
Are existing competitors structured correctly to meet customer needs?
How will the structure of the market change with time?
Are the products offered today meeting customer needs, or is there additional development needed?
What are the customer demand trends in the market?
What is the revenue of the EPC services market in the region?

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