PowerPlant Maintenance
· Power plant is a facility where electricity is generated fromthe primary source
· Maintenance of power plant is highly essential, as they play akey role in the overall operation of a plant. Timely maintenance increases lifeand efficiency of the power plant.
· Rise in demand for power plants and growth in investments invarious power plants have boosted the demand for maintenance of power plants.The hydropower sector has doubled in size from 625 GW in 1995 to more than1,300 GW in 2019.
· Maintenance of power plants can be predictive, preventive, orplanned. Predictive maintenance reduces the maintenance cost as compared tothat incurred in preventive maintenance, as it prevents excess wear & tearof the operating equipment. Planned maintenance is a routine or time-basedmaintenance that consists of lubrications, oil change, bearing checkup, andother such parameters.
Key Drivers of Global Power Plant Maintenance Market
· Demand for power plant maintenance is expected to increase inthe near future owing to rise in globalization and urbanization. Demand forelectricity is rising owing to an increase in population.
· Increase in investment in generation of hydroelectric power,renewable energy, and geothermal power plants is anticipated to boost the globalpower plant maintenance market in the near future.
COVID-19 Impact on Global Power Plant Maintenance Market
· Rapid spread of the COVID-19 pandemic has impacted the globalpower generation market. The pandemic halted several power projects owing todisruption in supply of equipment, raw material, and labor. Maintenanceschedules of various hydropower plants have been highly disturbed.
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Key Development
· On May 9, 2020, Enel Spa rolled out the world’s firstwide-ranging predictive maintenance model for its hydroelectric power plants.The company initiated the PresAGHO project (Predictive System and Analytics forGlobal Hydro Operation), featuring an elaborate predictive maintenance model totackle potential faults in hydroelectric power plants.
Asia Pacific to Hold Major Share of Global Power PlantMaintenance Market
· Based on region, the global power plant maintenance market canbe divided into North America, Europe, Asia Pacific, Latin America, and MiddleEast & Africa
· Asia Pacific dominated the global power plant maintenance marketin 2019. The market in the region is expected to be highly attractive duringthe forecast period, as the region has highest installed base of power plants.China, Japan, India, and South Korea possess high number of installed bases inthe region.
· North America is anticipated to account for notable share of theglobal power plant maintenance market during the forecast period. The U.S. hasaround 8690 installed power plants.
· The market in Europe is estimated to expand at a healthy paceduring the forecast period owing to an increase in investments for thegeneration of hydroelectric power. Key countries in the region are Italy,Germany, Spain, France, and Austria. Rise in number of installation of powerplants in Europe is anticipated to boost the power plant maintenance market inthe region.
· Middle East & Africa is likely to account for relativelyminor share of the market in the near future, as the power generation market isin the development phase in the region
· Latin America is anticipated to hold moderate share of theglobal market during the forecast period. Investment in the power generationmarket is estimated to rise in the near future. Brazil installed 4919 MW ofhydropower in 2019.
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Key Players Operating in Market
Majorplayers operating in the global power plant maintenance market are:
· Thermax Limited
· Energo Engineering Projects Limited.
· JERA Co., Inc.
· NTPC Ltd.
· MYTILINEOS SA.
· GENERAL ELECTRIC
· DESEIN Private Limited
· LAXYO
· STEAG ENERGY SERVICES
· Siemens Energy
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