"Global Power Survey 2013-2014: Market Trends, Buyer Spend and Procurement Strategies in the Global Power Industry" is a new report by ICD Research that analyzes how power industry companies' procurement expenditures, business strategies, and practices are set to change in 2013-2014. This report gives you access to the category-level spending outlooks, budgets, supplier selection criteria, business challenges, and investment opportunities of leading purchase decision makers. The report also identifies the future growth of buyers and suppliers, MandA, capital expenditure, staff hiring, and e-procurement. This report not only grants access to the opinions and strategies of business decision makers and competitors, but also examines their actions surrounding business priorities, as well as access to information categorized by region, company type, and size.
Introduction and Landscape
Why was the report written?
This report is the result of an extensive survey drawn from ICD Research's exclusive panel of leading global power industry executives; it provides data and analysis on buyer expenditure, procurement, and developments within the global power industry. The report includes key topics such as global power industry buyer expenditure and procurement behaviors and strategies, and identifies the threats and opportunities within the global power industry, economic outlook trends, and business confidence within global power industry executives. Most secondary research reports are based on general industry drivers and do not understand the industry executives' attitude and changing behaviors, creating a gap in presenting the business outlook of the industry; in an effort to bridge this gap, ICD Research created this primary research-based report by gathering the opinions of multiple stakeholders in the value-chain of the global power industry.
What is the current market landscape and what is changing?
Executives from the global power industry anticipate an increase in levels of consolidation, with 55% of respondents projecting an increase in merger and acquisition (MandA) activities in 2013.
What are the key drivers behind recent market changes?
Challenges faced by the power companies such as competition, requirement of expansion of capacity and services offerings, and weak market conditions prompted companies to consolidate positions and look for MandA to stabilize operations.
What makes this report unique and essential to read?
This report is the result of an extensive survey drawn from ICD Research's exclusive panel of leading global power industry executives; it provides data and analysis on buyer expenditure, procurement, and developments within the global power industry. The report includes key topics such as global power industry buyer expenditure and procurement behaviors and strategies, and identifies the threats and opportunities within the global power industry, economic outlook trends, and business confidence within global power industry executives.
Key Features and Benefits
Project industry trends and revenue growth expectations in 2013, and understand business confidence to make informed business decisions.
Drive revenues by understanding future product investment areas and key growth regions.
Uncover key challenges and opportunities, and identify the key actions required to maintain and win buyer business.
Formulate effective sales and marketing strategies by identifying how buyer budgets are changing and the direction of spending in the future. Better promote your business by aligning your capabilities and business practices with your customer's changing needs
Secure stronger customer relationships by understanding the behavior and changing strategies of industry buyers.
Key Market Issues
India, Brazil, the Middle East, and China are the important emerging markets to offer growth in 2013.
'Market uncertainty', 'rising competition', 'regulatory changes', and 'responding to pricing pressure' remain the leading business concerns for the global power industry in 2013.
Overall, for 2013, the average size of the annual procurement budget for global power industry buyer respondents is projected at US$127.4 million, against US$177.3 million in 2012 and US$168 million in 2011.
'Price', 'level of service', and 'delivery lead times' are considered the most important factors for supplier selection in the global power industry, while 'brand reputation' and 'environmental records and CSR'are considered the least important.
While 15% of buyer respondents from the global power industry are willing to implement e-procurement in 2013 or beyond, 46% are already in the different stages of implementation ('partially implemented', 'completely implemented', and 'evaluation or pilot use'.)
An analysis of revenue growth expectations by senior level respondents reveals that 50% are 'more optimistic' about their company's revenue growth in 2013.
A significant percentage of fossil fuel power generator respondents highlighted capital expenditure towards 'sustainable or green initiatives', 'employee training', and 'facility expansion' would increase in 2013.
The top three priorities for global power industry buyer respondents in 2013 are 'improving operational efficiency', 'expand in current market', and 'focus on sustainability'.
A total of 31% of respondents from fossil fuel generator companies, 68% of respondents from alternative power generator companies, and 51% of respondents from power industry supplier companies anticipate an increase of their current workforce in 2013.
Survey results show that respondents from the global power industry identified Singapore, Taiwan, Hong Kong, the US, and Australia to offer the highest growth potential among developed countries in 2013-2014.