Market Outlook for Power Plant Construction in Asia

摘要

The market for power generation and power plant con- struction in Asia shows a varying picture from country to country and depends on a variety of factors, such as the geographical situation, economic growth expectations, regulatory policies, grid infrastructure changes or the availability of local fuel resources. Volatility in market pro- jections is typical in this business as the influencing politi- cal development programs, regulations, economic projec- tions and plans on large infrastructure investments change frequently. Siemens expects power generation in the Asia-Pacific region (including China) to grow at more than 3.5% p. a. from approx. 10,000 TWh in 2014 to more than 18,000 TWh in 2030, with the installed capacity to nearly double from 2.5 TW to 4.6 TW in the same period. Including fleet renewal, cumulated power plant additions should out- reach 2.6 TW over the next 15 years. We expect the majority of these new builds to be coal-fired steam power plants (especially in China and India), while markets for renewable technologies feature highest growth rates at lower absolute levels. However, we expect markets for large fossil plants to further reduce from peak levels, as already observed for 2014. Among the trends Siemens currently sees and expects to continue in the future is an ongoing push for efficiency at large fossil-fired power generation as well as further in- creasing distributed and combined heat and power (CHP) generation.