2014-04-04 06:21:04 - Southeast Asian High Voltage Transmission Market - a new market research report on companiesandmarkets.com
The high voltage (HV) transmission market is in the growth phase in Southeast Asia (SE Asia). The EPC services segment is forecasted to have the highest CAGR growth during the next five years. The volume of projects in the market, increasing land costs, labor wages, strict labor laws, and transportation costs have a significant impact on market growth. Investment into transmission in the region is projected to grow during 2013-2018, which drives the equipment and EPC services market. In 2013, Indonesia was the largest market in SE Asia. It is also the fastest growing market for 2013-2018.
Developing countries in the region have projected a high demand growth and have streamlined the installed capacity addition to support this demand. Transmission
companies have laid out a complementing investment plan to assist in addition of generation capacity. Stringent regulations on ´local content value´ in project revenue, unfair utility decisions on tender awarding, and project delays are some key market restraints. The top market participants are ABB Ltd., ALSTOM grid, Siemens A.G., Crompton Greaves, and Xian Electric Engineering Co. Ltd. Popular regional companies are Hyundai Heavy Industries, Tirathai Co. Ltd., Tenaga Switchgear, EVN Thu Duc, and so on. Regional vendors are strengthening their facilities to support local market demand. South Korean, Chinese, and Indian manufacturers are increasing their participation in the market with their low-priced products. Besides, utilities have subsidiaries that are capable of supplying transmission equipment. This makes it harder for the Western multinationals to enhance their presence among the utilities in the region.
Thailand and Indonesia were the biggest markets. Increasingly, transformer procurements are being routed directly to the utility and EPCs supply and install the rest of the equipment in a project; this slashes the EPC´s profit margin by a significant percentage. Price, technical support and after-sales service are the key criteria that drive a transmission company´s product procurements. Regional manufacturers are strengthening their facilities to support local demand; Chinese and South Korean manufacturers are strengthening their foot-hold amongst utilities. The price of transformers is likely to reduce because of the influx of low-cost products and increased competition in the market.
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