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Global Thermal Power Market

  • November 2014
  • -
  • Global Industry Analysts
  • -
  • 526 pages

This report analyzes the worldwide markets for Thermal Power in Billion Kilowatt-hours by the following Fuel Types: Gas, Oil, and Coal. The report provides separate comprehensive analytics for the US, Canada, Japan, Europe, Asia-Pacific, Middle East & Africa, and Latin America. Annual estimates and forecasts are provided for the period 2013 through 2020. Also, a seven-year historic analysis is provided for these markets. Market data and analytics are derived from primary and secondary research. Company profiles are primarily based on public domain information including company URLs. The report profiles 139 companies including many key and niche players such as -

AES Corporation
American Electric Power Company, Inc.
Calpine Corporation
Duke Energy Corporation
E.ON SE

Table Of Contents

Global Thermal Power Market



I. INTRODUCTION, METHODOLOGY and PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation and Reporting Level I-2
Quantitative Techniques and Analytics I-3
Product Definitions and Scope of Study I-3
Thermal Power Generation Equipment I-3


II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW II-1
Thermal Power: An Important Component of Energy Mix II-1
Table 1: Global Electricity Generation (Excludes Pumped
Storage) By Fuel Type (2013): Percentage Breakdown of Unit
Electricity Generation for Coal/Peat, Natural Gas, Hydro,
Nuclear, Oil, and Others (includes corresponding Graph/Chart) II-3
Despite Ecological Concerns, Coal-Fired Thermal Power
Continues to Dominate II-3
Table 2: Global Electricity Coal/Peat Based Thermal Power
Production by Geographic Region/Country (2013): Percentage
Breakdown of Unit Electricity Generation for China, the US,
India, Japan, Germany, South Africa, Korea, and Rest of World
(includes corresponding Graph/Chart) II-4

Table 3: Coal Fuel as a Percentage of Total Electricity
Generation in Select Countries: 2012 (includes corresponding
Graph/Chart) II-5
Table 4: Global Proposed Coal-Fired Power Generation Plants
in Select Countries in Megawatts: 2012 II-6
Declining Production Cost Reinvigorates Interest in
Conventional Thermal Power II-8
Recession in Retrospect and the Road Ahead II-8
The 2007-2009 Recession in Retrospect II-8
2009-2012 Europe Debt Crisis in Retrospect II-9
Current Eurozone Economic Outlook II-10
Table 5: Business Climate indicator in the Eurozone Area
from July 2013 to July 2014: Breakdown by Month (includes
corresponding Graph/Chart) II-12
America's Brush with Fiscal Cliff Crisis of 2011-2013 and the
Future of Debt Ceiling Negotiations II-12
Table 6: US Revisions of Debt Ceiling Limit (in US$ Billion)
for the Years 2002-2014 (includes corresponding Graph/Chart) II-14
Improvement in Global GDP Performance Portends to Optimistic
Market Prospects II-14
Table 7: World Real GDP Percentage Growth Rates
(2012-2015F): Breakdown by Country (includes corresponding
Graph/Chart) II-15

Table 8: World GDP (2013): Percentage Share Breakdown of
Nominal GDP Value by Country (includes corresponding
Graph/Chart) II-16
Outlook II-16

2. THERMAL POWER GENERATION EQUIPMENT: COMPETITION II-18
Table 9: Leading Players in the Global Boiler Equipment Market
(2012): Percentage Breakdown of Cumulative Orders in Terms of
Capacities for Babcock and Wilcox Company, Doosan Heavy
Industries and Construction, Alstom, Hitachi, Foster Wheeler,
IHI Corp. and Others (includes corresponding Graph/Chart) II-18
Alstom: Global Leader in Thermal Power Solutions II-19
Alstom Power Generation II-19
Alstom Thermal Power II-19
Alstom's Boiler Products, Services and Solutions Portfolio II-20
Alstom Power Generation's Journey over the Years II-21
Some Important Features of Alstom's Boiler Technologies II-22
Aggressive Product Pricing Strategies Shackles Technological
Innovation II-22
Steam Turbine Suppliers Expand Geographic Reach in Response to
Accelerating Demand II-23
Table 10: Leading Players in the Global Electric Power
Generation Turbine Market (2013): Percentage Market Share
Breakdown of Revenues (includes corresponding Graph/Chart) II-24

Table 11: Leading Players in the Global Steam Turbines Market
(2013) - Percentage Share Breakdown of Installed Capacity
(includes corresponding Graph/Chart) II-24
Asian Companies Dominate Global Coal-Fired Turbines Market II-24
GE and Siemens Dominate the Global Gas Turbines Market II-25
Relentless Efforts in Maintaining Leadership II-26
Design Optimization for Higher Efficiency II-26
Siemens Gears Up to Strengthen Position in Gas Turbines Market II-27
Heavy Duty Gas Turbine Market Supremacy: GE and Siemens II-27
Table 12: Leading Players in the Global Heavy Duty Gas
Turbines Market (2013) - Percentage Market Share Breakdown
Based on Capacity Ordered (MW) (includes corresponding
Graph/Chart) II-28
Manufacturers to Focus on Delivering Better Performing and
Cost-efficient Boilers II-28
Boiler Suppliers Adopts ‘Go Green' Approach II-29

3. MARKET TRENDS, ISSUES AND DRIVERS II-30
Spiraling Demand for Electricity Worldwide: A Strong Growth
Driver II-30
Table 13: Total Demand for Electricity in Thousand Gigawatt
Hour for Select Countries (2012 and 2013) (includes
corresponding Graph/Chart) II-31

Table 14: Percentage Breakdown of Investments in New Power
Plants by Country/ Region: 2012 (includes corresponding
Graph/Chart) II-32

Table 15: Global Total Primary Energy Supply (Excluding
Energy Stored in International Marine and Aviation Bunkers)
in Units by Region (2013): Percentage Breakdown of Supply
Volumes for OECD, China, Asia (excluding China), Non-OECD
Europe and Eurasia, Africa, Middle East, and Non-OECD
Americas (includes corresponding Graph/Chart) II-32
Boiler and Turbine Advancements: Spearheading Growth II-33
Advanced PFBC (A-PFBC) II-33
Integrated Coal Gasification Combined Cycle (IGCC) II-33
Supercritical Technology II-33
3D Printing Set to Revolutionize Gas Turbine Manufacturing II-33
Selective Laser Melting II-34
Tomo-Lithographic Molding II-34
Liquid CO2 Turbines to Improve Power Generation Efficiency II-35
Steam Turbines: Integral for Thermal Power Generation II-35
Table 16: World 5-Year Perspective for Steam Turbines by
Geographic Region - Percentage Breakdown of New Capacity
Additions in Megawatts for the US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Middle East and Africa, and
Latin America Markets for Years 2013, 2015 and 2017 (includes
corresponding Graph/Chart) II-37
Steam Turbine MRO Market to Post Strong Gains in the Short-Term II-38
Green Technologies in Coal-Fired Power Plants Boost Steam
Turbines Demand in Asia-Pacific II-38
Growing Trend towards Fuel Diversification Favors Gas-Based
Thermal Power II-38
Need for Reducing Emissions Drives Natural Gas-Based Thermal
Power Generation II-39
Shale Gas Boom Offers Significant Opportunities for Gas-Based
Thermal Power II-40
Table 17: World Proven Natural Gas Reserves (2013):
Percentage Share Breakdown of Volume Reserves by Geographic
Region (includes corresponding Graph/Chart) II-40

Table 18: Technically Recoverable Shale Gas by Geographic
Region (includes corresponding Graph/Chart) II-41
Favorable Regulations Spur Demand for Gas Turbines II-41
Table 19: World Industrial Gas Turbine Market (2013):
Percentage Share Breakdown of the Installed Base by
Industrial Sector (includes corresponding Graph/Chart) II-42

Table 20: World 5-Year Perspective for Gas Turbines by
Geographic Region - Percentage Breakdown of New Capacity
Additions in Megawatts for the US, Canada, Japan, Europe,
Asia-Pacific (excluding Japan), Middle East and Africa, and
Latin America Markets for Years 2013, 2015 and 2017 (includes
corresponding Graph/Chart) II-43
NOx Reduction Techniques Commonly Deployed in Thermal Power
Generation Plants II-43
Table 21: A Comparison of NOx Reduction Technologies II-44
Waste Heat Boilers Enhance Efficiency Levels of Thermal Power
Plants II-44
Table 22: Global Waste Heat Boilers Market (2013): Percentage
Breakdown of Sales in Units and Dollar Revenues for China,
Asia (excluding China), Europe and North America (includes
corresponding Graph/Chart) II-45
Increasing Demand for Circulating Fluidized Bed Boilers Augurs
Well for the Market II-45
Encouraging Gains in Global PMI Benefits Market Growth II-46
Table 23: Global Purchasing Managers Index (PMI)
(January-August 2014) (includes corresponding Graph/Chart) II-47

Table 24: Global Purchasing Managers Index (PMI): Breakdown
of Monthly PMI Data by Country for the Year 2013 (includes
corresponding Graph/Chart) II-48
Developing Countries, Spearheaded by Asia-Pacific, Drive
Market Momentum II-48
Table 25: Global Thermal Power Market - Geographic Regions
Ranked by CAGR (Volume) for 2013-2020: Asia-Pacific, Latin
America, Japan, Middle East, Europe, the US, and Canada
(includes corresponding Graph/Chart) II-49
China: Growth Engine for the Global Thermal Power Equipment
Market II-49
Coal Power Continues to Dominate Chinese Power Generation II-50
Table 26: Incremental Additions in Power Generation
Capacity in China (2013) Capacity Additions in Terawatt
Hours for Fossil-fuel Power, Hydro Power, Wind Power,
Nuclear Power, and Solar Power (includes corresponding
Graph/Chart) II-50

Table 27: Electricity Generation Capacity of Newly
Installed Coal-Fired Power Plants in China (Gigawatts) for
the Years 2000, 2005, 2010 and 2012 (includes corresponding
Graph/Chart) II-51
Liberalization and Privatization of the Electricity Sector:
An Important Growth Driver in the Developing Countries II-52
Gas Turbines Market in Asia-Pacific Witness Steady Growth II-52
BRIC Countries Demonstrate High Potential for Gas Turbines II-53
Ongoing Shift to Renewable Energy Rubs Off Sheen of Fossil
Fuel-Based Thermal Power II-53
Table 28: Global Solar Thermal Power Capacity by Country
(2013): Percentage Breakdown of Installed Capacity for Spain,
The United States, Algeria, and India (includes corresponding
Graph/Chart) II-54

Table 29: Select List of Proposed, Under-Construction, and
Operational, Solar Thermal Power Stations II-55

Table 30: Global CO2 Emissions by Fuel Type (2013):
Percentage Breakdown of Volume Emissions for Coal and Peat,
Oil, Natural Gas, and Others (includes corresponding
Graph/Chart) II-56

Table 31: Global CO2 Emissions by Geographic Region/Country
(2013): Percentage Breakdown of Volume Emissions for OECD,
China, Asia (excludes China), Non-OECD Europe and Eurasia,
Middle East, Non-OECD Americas, Africa, and Others (includes
corresponding Graph/Chart) II-56
Revival of Nuclear Power Programs Pose Threat to Thermal Power
Generation II-57
Table 32: Snapshot of Nuclear Power Plants Scenario in Select
Countries II-58

4. RECENT INDUSTRY ACTIVITY II-60
Eastern Energy Company and SGCC to Establish World's Biggest
Thermal Power Plant II-60
Adani Power Takes Over Udupi Power Corporation from Lanco
Infratech II-60
Marubeni Corporation Launches Marubeni Thermal Power and Takes
Over Nakasode Clean Power II-60
Alstom to Construct Novel Flue Gas Desulphurisation Unit for
Dalkia Poznan ZEC II-60
Calpine Corporation Takes Over Guadalupe Power Plant II-60
Duke Energy Progress to Purchase Generating Assets of NCEMPA II-60
Ivanpah Solar Electric Generating System Commences Operational II-60
Mitsubishi Hitachi Power Systems to Build Ultra Supercritical
Pressure TPU in Poland II-60
Turner Renewable Energy and Southern Power Takes Over Macho
Springs Solar Facility II-61
Enel Sells Slovakian and Romanian Power Generation Assets II-61
BHEL Develops Novel Fuel Flexible Supercritical Boilers II-61
BHEL Unveils 250 MW Thermal Unit in Rajasthan II-61
Endesa Commissions Electricity Storage Plants in Spain II-61
NTPC to Set Up Power Generation Plant in Ramagundam II-61
NRG Energy's Solar Electric Generating System Now Fully
Operational II-61
Dongfang Announces Plans for Taking Over Cethar II-61
Kallpa Generacion to Take over Duke Energy Egenor's Thermal Plant II-62
EDF to Buy Minor Stake in Norte Fluminense II-62
Impregilo International to Divest 50% Stake in Shanghai
Pucheng Thermal Power Energy II-62
Lanco Infratech to Divest Minor Stake in Thermal Power Plant and
Coal Block II-62
NTPC Limited, LandT Ltd to Acquire Stake in OTPCL's Power Project II-62
SJVN Takes Over Buxar Bijlee II-62
MPX Takes Over Nova Venecia Thermal II-62
Mitsubishi Heavy Industries and Hitachi Merges to Form
Mitsubishi Hitachi Power Systems II-62
NTPC and LandT to Purchase Stake in Odisha Thermal Power II-62
MPX Takes Over Project Thermal Power Plant MC2 Nova Venecia II-63
Alstom to Provide Components and Services for 2X500 MW Neyveli
New Thermal Power Project II-63
Djuro Djakovic Holding Signs Agreement with HEP Unit II-63
Termochilca Unveils 200 MW Thermal Plant II-63
GMR Group Commissions Second 350 MW Unit II-63
GE's Aero Derivative Gas Turbines in Russia Commences
Commercial Operation II-63
BHEL to Construct Thermal Power Plants in Russia II-63
Lockheed Martin, Reignwood Group Ink Agreement for Designing
OTEC Plant II-63
Korba West Power Company Synchronises First TPU of Raigarh Plant II-63
Showa Shell Sekiyu to Construct 49MW Thermal Power Plant II-64
Jacobson Jelco Ghana Limited to Construct CCTP Plant in Ghana II-64
Uzbekenergo State Joint Stock Company to build Turakurgan
thermal power plant II-64
Thermal Powertech Corporation Signs Fuel Supply Agreement with
Mahanadi Coalfields II-64
Adani Power Commissions Tiroda Thermal Power Plant's Third 660MW II-64
Iberdrola Relaunches Lada Thermal Power Plant's 358MW Unit IV II-64
GMR Emco Energy's Thermal Power Plant Sells Electricity II-64
NTPC Limited to Build Thermal Power Plant II-64
Barrick Misquichilca Obtains Permit to Build 12MW Thermal
Power Plant II-65
Masdar Launches 100MW Solar Thermal Power Plant II-65
Toshiba and General Electric Form Joint Venture to Introduce
Thermal Power Systems II-65
NHPC Plans to Unveil Three Thermal Power Projects II-65
GDF SUEZ Enters into Strategic Partnership Agreement with
MARUBENI II-65
Calpine Corporation Commences Commercial Operations II-65
Illinois Power Holdings Takes Over American Energy Resources II-65
Dynegy Auctions Roseton Power Plant II-65
NRG Energy Inks Plan Sponsor Agreement with Edison Mission Energy II-66
Hitachinaka Thermal Power Station Starts Commercial Operation
of Second Unit II-66
BHEL's Barh TPU 4 Attains Commences Full Scale Operation II-66
BIFR Approves Modified Draft Rehabilitation Scheme for Merger
of BHPV and BHEL II-66
NTPC Inks Financing Agreement with KFW for Solar Thermal Plant II-66
NRG Energy Merges with GenOn Energy II-66
Apollo Tyres to Unveil 2x7.5MW Coal Based Thermal Power Plant II-66
DTEK to Build Novel 800mw Ultra-supercritical Power Generating
Unit II-66
Neyveli Lignite Corporation Starts Joint Venture with UPRVUL II-67
KVK Energy and Infrastructure to set up 2x150MW Thermal Power Plant II-67
NTPC Limited Inks Power Purchase Agreement with APDCL II-67
NHPL to Enter Into Thermal Power Sector II-67
Toshiba, NET Power, Shaw Group, Exelon to Develop New
Generation Thermal Power System II-67
JSW Energy to Establish South Africa Thermal Power Plant II-67
Mitsubishi Heavy Industries to Merge its Power Production
Business with Hitachi II-67
Shenhua to Acquire State Grid Energy Development II-67
Meralco PowerGen to Acquire 650MW Malaya Thermal Power Plant II-68
HMS Group to Acquire Majority Stake in Apollo Goessnitz II-68
NSL Renewable Power to Acquire Aban Offshore Thermal Power
Projects II-68
GVK Group to Acquire Two Thermal Power Plants II-68
Calpine Corporation Takes Over Bosque Power Company's Combined
Cycle Power Plant II-68
GDF Obtains Full Control of Britain's International Power II-68

5. FOCUS ON SELECT GLOBAL PLAYERS II-69
Power Generation II-69
AES Corporation (US) II-69
Table 33: AES Corporation Power Generation Capacity by Fuel
Source (2013): Percentage Breakdown of Power Generating
Capacity for Coal/Lignite, Natural Gas, Renewables, and
Others (includes corresponding Graph/Chart) II-69
American Electric Power Company, Inc. (US) II-70
Table 34: AEP Power Generation Capacity (including PPAs) by
Fuel Source (2013): Percentage Breakdown of Power Generating
Capacity for Coal/Lignite, Natural Gas, Nuclear, and Others
(includes corresponding Graph/Chart) II-70
Calpine Corporation (US) II-70
Table 35: Calpine Corporation Power Generation Capacity by
Energy Source (2013): Percentage Breakdown of Power
Generating Capacity for Natural Gas, and Geothermal
Resources (includes corresponding Graph/Chart) II-71
Duke Energy Corporation (US) II-71
Dynegy, Inc. (US) II-72
Table 36: Dynegy Power Generation Capacity by Fuel Source
(2013): Percentage Breakdown of Power Generating Capacity
for Coal, Natural Gas, Nuclear, and Others (includes
corresponding Graph/Chart) II-72
E.ON SE (Germany) II-72
Table 37: E.ON Power Generation Capacity by Fuel Source
(2013): Percentage Breakdown of Power Generating Capacity
for Nuclear, Lignite, Hard Coal, Natural Gas, Oil, Hydro,
Wind, and Others (includes corresponding Graph/Chart) II-73
Enel S.p.A. (Italy) II-73
Table 38: Enel Power Generation Capacity by Energy Source
(2013): Percentage Breakdown of Power Generating Capacity
for Nuclear Renewable Energy, Coal, Oil and Gas, Renewable,
Gas Combined Cycle (includes corresponding Graph/Chart) II-74
ENDESA S.A. (Spain) II-74
EnBW Energie Baden-Wuerttemberg AG (Germany) II-75
Table 39: EnBW Power Generation Capacity by Fuel Source
(2013): Percentage Breakdown of Power Generating Capacity
for Nuclear, Renewable Energy, Coal/Lignite, Gas, Other
Thermal, and Others (includes corresponding Graph/Chart) II-75
GDF SUEZ Group (Spain) II-75
Electrabel (Belgium) II-76
National Thermal Power Corporation Limited (India) II-76
Table 40: NTPC Power Generation Capacity by Fuel Source
(2013): Percentage Breakdown of Power Generating Capacity
for Thermal, Hydro, Nuclear, and Import from Bhutan
(includes corresponding Graph/Chart) II-76
NRG Energy, Inc. (US) II-77
Table 41: NRG Power Generation Capacity by Energy Resource
(2013): Percentage Breakdown of Power Generating Capacity
for Natural Gas, Coal, Oil, Nuclear, and Renewable Resources
(includes corresponding Graph/Chart) II-77
Southern Company (US) II-77
Table 42: Southern Company Power Generation Capacity by
Energy Source (2013): Percentage Breakdown of Power
Generating Capacity for Natural Gas, Nuclear, Coal, and
Renewable Resources (includes corresponding Graph/Chart) II-78
The Tokyo Electric Power Company, Incorporated (Japan) II-78
Energy Future Holdings Corp. (US) II-78
Vattenfall AB (Germany) II-79
Table 43: Vattenfall Power Generation Capacity by Energy
Resource (2013): Percentage Breakdown of Power Generating
Capacity for Fossil Fuel, Nuclear, Hydro, Wind, and Biomass
and Waste (includes corresponding Graph/Chart) II-79
Power Generation Equipment Manufacturers II-79
Alstom Power Systems (US) II-79
Bharat Heavy Electricals Limited (India) II-80
GE Power and Water (US) II-80
Mitsubishi Heavy Industries, Ltd. (Japan) II-81
Rolls-Royce Power Systems Holding GmbH (Germany) II-82
Siemens AG (Germany) II-82

6. GLOBAL MARKET PERSPECTIVE II-83
Table 44: World Recent Past, Current and Future Market Analysis
for Thermal Power by Geographic Region - US, Canada, Japan,
Europe, Asia-Pacific (excluding Japan), Middle East and Africa,
and Latin America Markets Independently Analyzed with Annual
Generation Figures in Billion Kilowatt-hours for the Years
2013 through 2020 (includes corresponding Graph/Chart) II-83

Table 45: World Historic Review for Thermal Power by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East and Africa, and Latin America
Markets Independently Analyzed with Annual Generation Figures
in Billion Kilowatt-hours for the Years 2006 through 2012
(includes corresponding Graph/Chart) II-84

Table 46: World 15-Year Perspective for Thermal Power by
Geographic Region - Percentage Breakdown of Annual Generation
for US, Canada, Japan, Europe, Asia-Pacific (excluding Japan),
Middle East and Africa, and Latin America Markets for the Years
2006, 2014 and 2020 (includes corresponding Graph/Chart) II-85

Table 47: World Recent Past, Current and Future Market Analysis
for Gas-fired Thermal Power by Geographic Region - US, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), Middle East and
Africa, and Latin America Markets Independently Analyzed with
Annual Generation Figures in Billion Kilowatt-hours for the
Years 2013 through 2020 (includes corresponding Graph/Chart) II-86

Table 48: World Historic Review for Gas-fired Thermal Power by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East and Africa, and Latin America
Markets Independently Analyzed with Annual Generation Figures
in Billion Kilowatt-hours for the Years 2006 through 2012
(includes corresponding Graph/Chart) II-87

Table 49: World 15-Year Perspective for Gas-fired Thermal
Power by Geographic Region - Percentage Breakdown of Annual
Generation for US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East and Africa, and Latin America
Markets for the Years 2006, 2014 and 2020 (includes
corresponding Graph/Chart) II-88

Table 50: World Recent Past, Current and Future Market Analysis
for Oil-fired Thermal Power by Geographic Region - US, Canada,
Japan, Europe, Asia-Pacific (excluding Japan), Middle East and
Africa, and Latin America Markets Independently Analyzed with
Annual Generation Figures in Billion Kilowatt-hours for the
Years 2013 through 2020 (includes corresponding Graph/Chart) II-89

Table 51: World Historic Review for Oil-fired Thermal Power by
Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East and Africa, and Latin America
Markets Independently Analyzed with Annual Generation Figures
in Billion Kilowatt-hours for the Years 2006 through 2012
(includes corresponding Graph/Chart) II-90

Table 52: World 15-Year Perspective for Oil-fired Thermal
Power by Geographic Region - Percentage Breakdown of Annual
Generation for US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East and Africa, and Latin America
Markets for the Years 2006, 2014 and 2020 (includes
corresponding Graph/Chart) II-91

Table 53: World Recent Past, Current and Future Market Analysis
for Coal-fired Thermal Power by Geographic Region - US,
Canada, Japan, Europe, Asia-Pacific (excluding Japan), Middle
East and Africa, and Latin America Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) II-92

Table 54: World Historic Review for Coal-fired Thermal Power
by Geographic Region - US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East and Africa, and Latin America
Markets Independently Analyzed with Annual Generation Figures
in Billion Kilowatt-hours for the Years 2006 through 2012
(includes corresponding Graph/Chart) II-93

Table 55: World 15-Year Perspective for Coal-fired Thermal
Power by Geographic Region - Percentage Breakdown of Annual
Generation for US, Canada, Japan, Europe, Asia-Pacific
(excluding Japan), Middle East and Africa, and Latin America
Markets for the Years 2006, 2014 and 2020 (includes
corresponding Graph/Chart) II-94


III. MARKET

1. THE UNITED STATES III-1
A.Market Analysis III-1
Market Overview and Outlook III-1
Market Trends and Issues III-1
Favorable Fuel Prices and Shale Gas Boom Supports Shift from
Coal-fired to Gas-fired Power Production III-1
Table 56: US Power Generation Capacity by Energy Source
(2010 and 2020): Percentage Breakdown of Power Generation
Capacity from Gas, Coal, Nuclear, Renewable Energy, Hydro,
and Oil Sources (includes corresponding Graph/Chart) III-2
Government Promotes Clean Coal Technologies to Lower
Ecological Impact III-3
Robust Growth Prospects for Thermal Power Maintenance
Market in North America III-4
US Power Generation Equipment Market on the Path to Recovery III-4
Table 57: Leading Players in the US Steam Turbines Market
(2013): Market Share Breakdown for Alstom, GE, Siemens,
and Others (includes corresponding Graph/Chart) III-4

Table 58: Leading Players in the US Gas Turbines Market
(2013): Market Share Breakdown for Alstom, GE, Siemens,
and Others (includes corresponding Graph/Chart) III-5
Key Imports and Exports Statistics III-5
Table 59: Steam and Other Vapour Turbines Exports in the
US (2013): Percentage Breakdown of Export Value by
Destination Country (includes corresponding Graph/Chart) III-5

Table 60: Hydraulic Turbines, Regulators and Water Wheels
Exports in the US (2013): Percentage Breakdown of Export
Value by Destination Country (includes corresponding
Graph/Chart) III-5

Table 61: Gas Turbines Exports in the US (2013):
Percentage Breakdown of Export Value by Destination
Country (includes corresponding Graph/Chart) III-6

Table 62: US Imports of Steam and Other Vapour Turbines
(2013): Percentage Breakdown of Import Value by Country
of Origin (includes corresponding Graph/Chart) III-6

Table 63: US Imports of Hydraulic Turbines (2013);
Percentage Breakdown of Import Value by Country of Origin
(includes corresponding Graph/Chart) III-6

Table 64: US Imports of Gas Turbines (2013): Percentage
Breakdown of Import Value by Country of Origin (includes
corresponding Graph/Chart) III-7
Regulatory Overview III-7
Section 1 ASME Code III-7
Recent Amendments in the ASME Code III-8
The Clean Air Act III-8
Boiler Code Infringement: A Major Concern III-8
EPA Finalizes Regulations on Boilers and Solid Waste
Incinerators III-9
Boiler Reconsideration Regulations from the EPA III-9
Revised Emissions Limits and Limited Use Definitions III-9
Energy Assessments and Sources III-10
Amendments to Startup and Shutdown Periods III-10
CISWI Reconsideration Rule - Problems and Amendments III-11
EPA Introduces CO2 Standards for New Power Plant Facilities III-11
Strategic Corporate Developments III-12
Select Key Players III-13
B.Market Analytics III-20
Table 65: US Recent Past, Current and Future Market Analysis
for Thermal Power by Fuel Type - Gas-fired, Oil-fired and
Coal-fired Thermal Power Markets Independently Analyzed with
Annual Generation Figures in Billion Kilowatt-hours for the
Years 2013 through 2020 (includes corresponding Graph/Chart) III-20

Table 66: US Historic Review for Thermal Power by Fuel Type-
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
Independently Analyzed with Annual Generation Figures in
Billion Kilowatt-hours for the Years 2006 through 2012
(includes corresponding Graph/Chart) III-21

Table 67: US 15-Year Perspective for Thermal Power by Fuel
Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-22

2. CANADA III-23
A.Market Analysis III-23
Market Overview and Outlook III-23
Thermal Power Generation Equipment III-23
Small Market for Large Gas Turbines III-23
B.Market Analytics III-24
Table 68: Canadian Recent Past, Current and Future Market
Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-24

Table 69: Canadian Historic Review for Thermal Power by Fuel
Type - Gas-fired, Oil-fired and Coal-fired Thermal Power
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2006 through
2012 (includes corresponding Graph/Chart) III-25

Table 70: Canadian 15-Year Perspective for Thermal Power by
Fuel Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-26

3. JAPAN III-27
A.Market Analysis III-27
Outlook III-27
Regulatory Reforms Overview III-27
Major Impediments to Competition in the Japanese Electric
Power Sector III-28
Robust Export Demand for Japanese Thermal Power Plant Equipment III-28
Competitive Landscape III-28
Table 71: Leading Players in the Japanese Market for
Boilers (2012) - Percentage Breakdown of Value Production
for Babcock-Hitachi, IHI Corp., Kawasaki Heavy Industries,
Mitsubishi Heavy Industries, and Others (includes
corresponding Graph/Chart) III-28
Strategic Corporate Developments III-29
Select Key Players III-30
B.Market Analytics III-31
Table 72: Japanese Recent Past, Current and Future Market
Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-31

Table 73: Japanese Historic Review for Thermal Power by Fuel
Type - Gas-fired, Oil-fired and Coal-fired Thermal Power
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2006 through
2012 (includes corresponding Graph/Chart) III-32

Table 74: Japanese 15-Year Perspective for Thermal Power by
Fuel Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-33

4. EUROPE III-34
A.Market Analysis III-34
Outlook III-34
Market Overview III-34
Recession Alters Production and Demand Scenario III-35
Surplus Power Scenario to Persist in the Near Future III-35
RES Power Rapidly Displaces Fossil-Fuel Power Capacity in
Energy Mix III-36
Shale Gas Boom in North America Triggers Switch to Coal
Power in Europe III-36
Table 75: European Clean Dark Spread and Clean Spark Spread
in Euro/Megawatt Hour: 2010-2013 (includes corresponding
Graph/Chart) III-37
RES Capacity Expansion Undermines Profitability of Natural
Gas-fired Utilities III-37
EU Regulations to Come Down Heavily on Fossil Fuel Power Plants III-38
Demand for Steam Turbines to Remain Strong despite Economic
Slowdown III-38
Table 76: Leading Players in the European Steam Turbines
Market (2013): Percentage Breakdown of Market Share for
Alstom, Ansaldo Energia, GE, Siemens, and Others (includes
corresponding Graph/Chart) III-39
Long-Term Outlook for European Gas Turbines Market Remains
Promising III-39
Table 77: Leading Players in the European Gas Turbines
Market (2013): Percentage Breakdown of Market Share for
Alstom, GE, Siemens, and Others (includes corresponding
Graph/Chart) III-40
European Regulatory Framework III-40
Internal Energy Market III-40
Emissions Trading Scheme III-41
B.Market Analytics III-42
Table 78: European Recent Past, Current and Future Market
Analysis for Thermal Power by Geographic Region - France,
Germany, Italy, UK, Spain, Russia, and Rest of Europe
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2013 through
2020 (includes corresponding Graph/Chart) III-42

Table 79: European Historic Review for Thermal Power by
Geographic Region - France, Germany, Italy, UK, Spain,
Russia, and Rest of Europe Markets Independently Analyzed
with Annual Generation Figures in Billion Kilowatt-hours for
the Years 2006 through 2012 (includes corresponding
Graph/Chart) III-43

Table 80: European 15-Year Perspective for Thermal Power by
Geographic Region - Percentage Breakdown of Generation for
France, Germany, Italy, UK, Spain, Russia, and Rest of
Europe Markets for the Years 2006, 2014 and 2020 (includes
corresponding Graph/Chart) III-44

Table 81: European Recent Past, Current and Future Market
Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-45

Table 82: European Historic Review for Thermal Power by Fuel
Type - Gas-fired, Oil-fired and Coal-fired Thermal Power
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2006 through
2012 (includes corresponding Graph/Chart) III-46

Table 83: European 15-Year Perspective for Thermal Power by
Fuel Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-47

4a. FRANCE III-48
A.Market Analysis III-48
Market Overview and Outlook III-48
Strategic Corporate Development III-48
B.Market Analytics III-49
Table 84: French Recent Past, Current and Future Market
Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-49

Table 85: French Historic Review for Thermal Power by Fuel
Type - Gas-fired, Oil-fired and Coal-fired Thermal Power
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2006 through
2012 (includes corresponding Graph/Chart) III-50

Table 86: French 15-Year Perspective for Thermal Power by
Fuel Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-51

4b. GERMANY III-52
A.Market Analysis III-52
Outlook III-52
Market Overview III-52
Dynamic Scenario Favors Coal-fired Power III-52
Nuclear Power Replacement - What the Future Beholds? III-53
Strategic Corporate Developments III-54
Select Key Players III-54
B.Market Analytics III-59
Table 87: German Recent Past, Current and Future Market
Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-59

Table 88: German Historic Review for Thermal Power by Fuel
Type - Gas-fired, Oil-fired and Coal-fired Thermal Power
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2006 through
2012 (includes corresponding Graph/Chart) III-60

Table 89: German 15-Year Perspective for Thermal Power by
Fuel Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-61

4c. ITALY III-62
A.Market Analysis III-62
Market Overview and Outlook III-62
Table 90: Italian Domestic Power Generation by Energy
Source (2013): Percentage Breakdown of Power Production for
Thermal, Hydroelectric, Wind, Geothermal, and Solar PV
Sources (includes corresponding Graph/Chart) III-62
Italian Electricity Regulatory Framework III-63
Enel S.p.A. - A Key Power Generation Company in Italy III-63
Table 91: Enel Power Generation Capacity by Energy Source
(2013): Percentage Breakdown of Power Generating Capacity
for Nuclear Renewable Energy, Coal, Oil and Gas, Renewable,
Gas Combined Cycle (includes corresponding Graph/Chart) III-64
B.Market Analytics III-65
Table 92: Italian Recent Past, Current and Future Market
Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-65

Table 93: Italian Historic Review for Thermal Power by Fuel
Type - Gas-fired, Oil-fired and Coal-fired Thermal Power
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2006 through
2012 (includes corresponding Graph/Chart) III-66

Table 94: Italian 15-Year Perspective for Thermal Power by
Fuel Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-67

4d. THE UNITED KINGDOM III-68
A.Market Analysis III-68
Market Overview and Outlook III-68
Environmental and Energy Regulations Favors Gas-fired Over
Coal-fired Capacity III-68
Increased Construction of Thermal Power Plants to Benefit
Thermal Power Equipment Market III-69
Strategic Corporate Development III-69
B.Market Analytics III-70
Table 95: The UK Recent Past, Current and Future Market
Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-70

Table 96: The UK Historic Review for Thermal Power by Fuel
Type - Gas-fired, Oil-fired and Coal-fired Thermal Power
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2006 through
2012 (includes corresponding Graph/Chart) III-71

Table 97: The UK 15-Year Perspective for Thermal Power by
Fuel Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-72

4e. SPAIN III-73
A.Market Analysis III-73
Market Overview and Outlook III-73
Table 98: Spanish Domestic Power Generation by Energy
Source (2013): Percentage Breakdown of Power Production for
Thermal, Nuclear, and Hydroelectric Sources (includes
corresponding Graph/Chart) III-73
New Regulatory Agency Established III-73
Strategic Corporate Developments III-74
Select Key Spanish Power Generators III-74
B.Market Analytics III-76
Table 99: Spanish Recent Past, Current and Future Market
Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-76

Table 100: Spanish Historic Review for Thermal Power by Fuel
Type - Gas-fired, Oil-fired and Coal-fired Thermal Power
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2006 through
2012 (includes corresponding Graph/Chart) III-77

Table 101: Spanish 15-Year Perspective for Thermal Power by
Fuel Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-78

4f. RUSSIA III-79
A.Market Analysis III-79
Market Overview and Outlook III-79
Thermal Power Sector to Attract Investment for Modernization III-79
Table 102: Russia Total Capital Investment into Thermal
Power Sector in US$ Million for the Years 2011-2015
(includes corresponding Graph/Chart) III-80

Table 103: Investments in Russian Power Sector (2001-2020):
Percentage Breakdown by Fuel Source on a Five-Year Period
Basis - Thermal, Nuclear, Hydro, and Others (includes
corresponding Graph/Chart) III-81
Strategic Corporate Developments III-81
B.Market Analytics III-82
Table 104: Russian Recent Past, Current and Future Market
Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-82

Table 105: Russian Historic Review for Thermal Power by Fuel
Type - Gas-fired, Oil-fired and Coal-fired Thermal Power
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2006 through
2012 (includes corresponding Graph/Chart) III-83

Table 106: Russian 15-Year Perspective for Thermal Power by
Fuel Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-84

4g. POLAND III-85
A.Market Analysis III-85
Outlook III-85
Dominance of Coal in Polish Energy Mix Continues Unabated III-85
Strategic Corporate Developments III-85
B.Market Analytics III-86
Table 107: Polish Recent Past, Current and Future Market
Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-86

Table 108: Polish Historic Review for Thermal Power by Fuel
Type - Gas-fired, Oil-fired and Coal-fired Thermal Power
Markets Independently Analyzed with Annual Generation
Figures in Billion Kilowatt-hours for the Years 2006 through
2012 (includes corresponding Graph/Chart) III-87

Table 109: Polish 15-Year Perspective for Thermal Power by
Fuel Type - Percentage Breakdown of Annual Generation for
Gas-fired, Oil-fired and Coal-fired Thermal Power Markets
for the Years 2006, 2014 and 2020 (includes corresponding
Graph/Chart) III-88

4h. REST OF EUROPE III-89
A.Market Analysis III-89
Outlook III-89
East European Countries to Sideline Thermal Power in Favor
of RES and Nuclear Capacity III-89
Eastern European Power Sector Keen on Privatization and
Foreign Investment III-89
Focus on Select Markets III-90
Romania III-90
Deregulation of Romanian Power Market in Full Swing III-90
Table 110: Romanian Power Generation by type of Energy
Source (2012): Percentage Breakdown of Electricity
Production for Thermal, Hydroelectric, Nuclear and Wind
Power (includes corresponding Graph/Chart) III-90
Hungary III-91
Norway and Sweden III-91
The Netherlands III-91
Turkey III-91
Strategic Corporate Developments III-92
Electrabel - A Key Belgian Power Eneration Player III-93
B.Market Analytics III-94
Table 111: Rest of European Recent Past, Current and Future
Market Analysis for Thermal Power by Fuel Type - Gas-fired,
Oil-fired and Coal-fired Thermal Power Markets Independently
Analyzed with Annual Generation Figures in Billion
Kilowatt-hours for the Years 2013 through 2020 (includes
corresponding Graph/Chart) III-94

Table 112: Rest of European Historic Review for Thermal
Power by Fuel Type - Gas-fired, Oil-fired and Coal-fired
Thermal Power Markets Independently Analyzed with Annual
Generation Figures in Billion Kilowatt-hours for the Years
2006 through 2012 (includes corresponding Graph/Chart) III-95

Table 113: Rest of European 15-Year Perspective for Thermal
Power by Fuel Type - Percentage Breakdown of Annual
Generation for Gas-fired, Oil-fired and Coal-fired Thermal
Power Markets for the Years 2006, 2014 and 2020 (includes
corresponding Graph/Chart) III-96

5. ASIA-PACIFIC III-97
A.Market Analysis III-97
Outlook III-97
Asia-Pacific: The Fastest Growing Market for Power
Generation Equipment III-97
Table 114: Global Power/Utility Boilers Market - Geographic
Regions Ranked by CAGR for 2012-2020: Asia-Pacific, Latin
America, Middle East and Africa, Japan, US, and Europe
(includes corresponding Graph/Chart) III-98

Table 115: Global Turbines Market - Geographic Regions
Ranked by CAGR (Volume) for 2013-2020: Asia-Pacific,
Canada, Europe, Japan, Middle East and Africa, Latin America,
and the US (includes corresponding Graph/Chart) III-99
Bright Prospects for Steam Turbines in the APAC Region III-99
Demand for Gas Turbines Rises Amid Growing Interest in Clean
Technologies III-100
Table 116: Leading Players in the Asia-Pacific Gas Turbines
Market (2013): Percentage Market Share Breakdown for
Alstom, GE, Siemens, and Others (includes corresponding
Graph/Chart) III-101
B.Market Analytics III-102
Table 117: Asia-Pacific Recent Past, Current and Future Market
Analysis for Thermal Power by Geographic Region - Australia,
China, India, Indonesia, South Korea, Taiwan, and Rest of
Asia-Pacific Markets Independently Analyzed with Annual
Generation Figures in Billion Kilowatt-hours for the Years
2013 through 2020 (includes corresponding Graph/Chart) III-102

Table 118: Asia-Pacific Historic Review for Thermal Power by
Geographic Region - Australia, China, India, Indonesia,
South Korea, Taiwan, and Rest of Asia-Pacific Markets
Independently Analyzed with Annual Generation Figures in
Billion Kilowatt-hours for the Years 2006 through 2012
(includes corresponding Graph/Chart) III-103

Table

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