Technological Advances in Coal-fired Power Plants Revive Interest in Steam Turbines in Asia-Pacific, Finds Frost & Sullivan Greater clarity on carbon tax policies required for setting up more coal-fired power plants and thereby, uptake of steam turbines
SINGAPORE, April 22, 2013 /PRNewswire/ -- Rising electricity demand due to a burgeoning population, the abundance of coal, and high costs of oil and gas make a strong case for the setting up of more coal-fired power plants with steam turbines in Asia-Pacific. The popularity of coal as a fossil fuel is compelling power plant owners to make technological improvements to the production process in order to reduce the environmental impact of coal emissions.
New analysis from Frost & Sullivan (http://www.energy.frost.com), Asia-Pacific Steam Turbines Market, finds that market earned revenues of $4,151.2 million in 2011 and estimates this to reach $5,995.7 million in 2016. The number of units ordered in 2011 was 11,310.9 MW. Most of the turbines ordered used sub-critical (approximately 330 MW, 660 MW) or super-critical (approximately 800 MW) boiler type. The order capacity of steam turbines is expected to show an upward trend during the forecast period.
"Although there are several favorable government policies and incentives for alternate source of power generation in Asia-Pacific, renewable energy projects are limited due to the lack of significant investments and high initial costs," said Frost & Sullivan Energy & Power Research Analyst Subha Krishnan. "Therefore, countries in this region tend to opt for fossil-fuel based power generation, creating considerable demand for steam turbines."
Coal-fired power plants are restrained by a lack of clarity in government policies as well as tax rates on carbon emissions. Carbon tax schemes have stringent penalties for the top 500 polluters. As a result, the construction of several power plants that use coal have been delayed or deferred. This affects the demand for steam turbines in the region.
To resolve the issue of carbon dioxide emissions, countries in Asia-Pacific are developing clean coal technologies. Carbon capture and storage or sequestration (CCS) is identified as the only technology that enables large-scale fossil fuel power plants to remain operational.
"The development of technologies that help produce cleaner coal will play a vital role in market growth," noted Krishnan. "Such technology upgrade would facilitate plant life extension, drive new investments and eventually, boost the adoption of steam turbines."
If you are interested in more information on this research, please send an email to Jessie Loh, Corporate Communications, at firstname.lastname@example.org, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
Asia-Pacific Steam Turbines Market is part of the Energy & Power Growth Partnership Service program. Frost & Sullivan's related research services include: East African Oil and Gas Market, Asia-Pacific Smart Grids Market, and Chinese High Voltage Transmission Market. All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
- The Integrated Value Proposition provides support to our clients throughout all phases of their journey to visionary innovation including: research, analysis, strategy, vision, innovation and implementation.
- The Partnership Infrastructure is entirely unique as it constructs the foundation upon which visionary innovation becomes possible. This includes our 360 degree research, comprehensive industry coverage, career best practices as well as our global footprint of more than 40 offices.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organization prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
Corporate Communications – Asia Pacific
P: +65 6890 0942
F: +65 6890 0988
SOURCE Frost & Sullivan