As China is following through on plans to expand its power grid and regional connectivity, the country topped the global transmission tower market with a market of $3,963 million in 2016, followed by India with $2,058 million. According to a GlobalData forecast, China’s market will exceed $4,259 million by 2021.
US manufacturers Koch Industries and Dow Chemical are lobbying against the plan of Energy Secretary Rick Perry to subsidize nuclear and coal as a fuel for power generation. In a letter to Congress, manufacturers dismissed the Department of Energy’s (DoE) plan as “anti-competitive” and said it could distort or “destroy competitive wholesale electricity markets and increase the price of electricity to all consumers.”
Oct 10 – The global market for gas turbine is growing at an annual rate of 5.3% to reach $24.12 billion by 2020, according to htfmarketreport. Increasing demand distributed power generation, technology advancement, and more stringent regulations on carbon emissions are fuelling the market growth.
Commentators have openly rebuked US Energy Secretary Rick Perry’s proposal for a bailout of coal and nuclear power plants. In a letter to FERC, Perry had directed the regulator to set up a rule, offering plants that can store 90 day’s worth of fuel onsite some extra compensation. Critics dismissed this plan as “nuts” as it would interfere in America’s unregulated wholesale power market, effectively reducing the price of electricity generated from burning coal.
Strikingly, South Korea’s year-to-date LNG demand has risen by over 4 million tons – contrary to expectations it would fall. Yet very little of this demand strength comes from the power sector; according to Energy Aspects, Korea’s LNG appetite this year has been more down to expansion of LNG import facilities with players having bought cheap spot cargoes on spec and put the gas into storage.
Growing economies in Asia-Pacific and the Middle East spur new power generation projects which drives up the market value of the global transmission tower market from $13.05 billion last year to $13.46 billion in 2021.The Asia-Pacific region led the market in 2016 in terms of market value witnessing $7.50 billion and is expected to reach $7.93 billion by the end of the forecast period. According to GlobalData analysis, the market in the region is “mainly driven by new investments to develop a ‘new age’ grid.”
Alarmed about the scale of gas shortages in Australia, Prime Minister Malcolm Turnbull is considering restrictions on LNG exports from Australia’s eastern coast. Santos, Shell and ConocoPhillips have been urged to help plug an estimated shortfall of up to 17% of market demand in 2018.
Having moved to a competitive market, Mexico’s Energy Regulatory Commission (CRE) released its first monthly price report on August 18 which shows that Mexican marketers sold gas at $4.10/mmBtu on average in July. CENAGAS, Mexico’s pipeline system operator also launched its natural gas capacity reservation system with electronic bulletin boards for posting natural gas flows.
Decentralisation, decarbonisation and electrification of vehicles are unravelling the way electricity is generated, consumed and accessed. In the view of Shayle Kann, head of GTM Reserach, “this could be the most dramatic transformation of electricity for a century.”
Aug 2 – The coiled turbine market, by service, is seen expanding at a compound annual growth rate (CAGR) of 6-7% to reach an estimated $4.4 billion in 2020. North America is the largest market for coiled turbine (CT), both by value and by active fleet count. The United States in 2013 held the major share of the active fleet count of more than 59%, spurred by the surge of shale gas drilling activities, with analyst seeing further growth potential for ultra-deep CT services.