PUBLISHER: Allied Market Research | PRODUCT CODE: 1266560
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266560
The global power plant maintenance market size was valued at $20.7 billion in 2021, and is projected to reach $33.2 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.
Plant maintenance helps industrial companies boost equipment uptime. It is essential for maintaining the longevity and safety of plant assets. In addition, it ensures manufacturing runs on schedule and helps prevent unanticipated downtime. Power plant operations require regular maintenance to keep all the infrastructure and assets in excellent operating condition as well as to ensure the safety of the employees.
The power plant maintenance market is segmented on the basis of power plant type, it is segmented into thermal, nuclear, combined cycle, hydropower, renewable energy, and other type of energy. Renewable energy type is further segmented into solar energy, wind energy, and other sources. On the basis of services, the market is classified into Monitoring & Control, Preventive/Scheduled Maintenance, Predictive Maintenance, Breakdown Maintenance, and others. On the basis of equipment, steam turbine, gas turbine, wind turbine, boilers, generators, condenser, feedwater pump, and other equipment. Region wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The growth drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of the key players to increase their market share and sustain intense competition in the industry.
ABB Ltd, General Electric, Mitsubishi Electric, Siemen AG, ENEL S.P.A, RES Group, RWE, Engie Inc, Shell, and Emerson are some of the major players discussed in the report. To understand the market, drivers, restraints, and opportunities are explained in the report. Further, the key strategies adopted by potential market leaders to facilitate effective planning have been discussed under the scope of the report.