London, 3 August 2015: Technavio, the independent tech-focused global research firm, has published a report on the turbine market in Indonesia 2015-2019, which is expected to grow at a CAGR of 10.5% during the forecast period of 2014-2019.
The availability of vast coal and gas resources in the country is one of the major factors that will augment the prospects for growth in this market. Coal production in Indonesia is rapidly increasing and it plays a vital role in meeting the power demand of the country. The availability of natural gas in this region is another factor that is expected to boost growth in this market. Natural gas is the second largest power source in the country and its widespread availability will aid in decreasing the country’s dependence on oil.
“Indonesia’s overall power consumption is largely met by fossil fuel-based generation. Availability of coal, oil, and gas reserves in the country has led to a growing number of installations. Power generation from fossil fuel-based generation and increasing deforestation rates in Indonesia are boosting GHG emissions,” says Faisal Ghaus, Vice President of Technavio.
“The government of Indonesia had pledged to decrease GHG emissions by 26% by 2020 through diversifying the fuel mix and adopting renewable energy technologies.”
Key Market Drivers:
- Huge Potential for Coal and Gas Resources
- Adoption of Supercritical and Ultra-supercritical Technology
- Surge in Upcoming Gas-fired Power Plants
- Expansion through FTPs
Key Market Trends:
- Increase in Investments in Power Sector
- Increasing Demand for Reducing CO2 Emissions
- PT PLN’s Monopoly in Power Distribution Market
- Benefits of Clean Coal Technology over Renewables
Key Market Vendors:
- Dongfang Electric Corp. (DEC)
- General Electric
- Mitsubishi Heavy Industries Ltd.
- Shanghai Electric Corp.
- Siemens AG
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
