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Pursuit Track
Industrial Info Europe Tracks Growing European Power Market, an Industrial Info News Alert
GALWAY, IRELAND--(Marketwire - January 17, 2010) - Written by John Egan for Industrial Info Resources (Sugar Land, Texas) -- Tracking the changes of a single country's power and energy market can be challenging enough, but tracking these changes across more than 30 European countries with more than a dozen different languages requires a unique skill set. Industrial Info Europe, based in Galway, on the west coast of Ireland, has a proven track record of doing just this. Since 2008, Industrial Info Europe's multi-lingual team of researchers has catalogued more than 80% of the region's 850,000 megawatts (MW) in electric power generating capacity. This year, the Galway office aims to increase coverage to more than 90%. The key to knowing what's going on in such a diverse region, comprising the 27 European Union nations, as well Russia and nearby republics, is having the right team of professional researchers with diverse language skills and local knowledge.
For more information on how Industrial Info's global expansion is helping clients, see January 11, 2009, article -- Industrial Info's Global Expansion Helps Clients Uncover New Business Opportunities.
"So much of the world's business is conducted in English that it can be easy to forget that there are more than two dozen unique national markets in Europe, all speaking a different language," explains Nicola Lynch, managing director of Industrial Info Europe. "English is widely spoken in many of these markets, but it is not the universal language of business in them all. As the saying goes, 'one size does not fit all.'"
"If your company is in the energy business in Europe, it is probably involved in many countries or even the entire region," she adds. "Companies are seeking to expand their presence throughout the region. That requires a lot of very specific information, as well as people with local language skills and experience in local markets. No one else provides the comprehensive market intelligence on industrial spending for the wide range of European markets that we cover."
To win contracts in the power and energy sector requires having the right intelligence at the right time that's "Constantly Living Forward."™ Industrial Info Europe helps its clients by uncovering, confirming and keeping close track of information about new capital and maintenance spending opportunities in the power market across more than 30 European countries and in more than a dozen local languages. "To get quality local market intelligence, we have found that language skills and experience in those markets are vital," Lynch says. "If you can't speak the language, then it's almost impossible to find out what is happening with regards to new projects. Tracking a market successfully requires gathering information from many different local sources."
The United States is still in the grip of a fierce recession, but the European power market remains extremely dynamic and increasingly competitive, according to Lynch. "Despite some belt-tightening, the fact remains that the European Commission estimates that in the next decade, 360,000 MW of new electric generating capacity will be needed to replace aging power plants. That's 50% of the current European Union installed generating base. This is a massive opportunity worth hundreds of billions of dollars for our clients operating in the power and energy sector."
Renewable energy projects figure prominently in Europe's plans to reduce pollution and cut carbon-dioxide emissions. In pursuit of this goal, countries in the EU-27 invested about $8 billion in biomass-fired electric generation in 2008-09. During 2009, these countries also committed billions of additional dollars to build more than 8,500 MW of new wind power generation, which is the largest renewable power investment sector.
The "rebirth" of nuclear power in Europe and the drive to commercialize carbon capture and storage (CCS) technologies are two key parts of some European countries' efforts to increase electric generating capacity and reduce emissions from power plants. "The nuclear industry is undergoing a revival in Europe right now, and the U.K. is leading the way," Lynch says. "Several countries, including Italy, Sweden, and Poland, have reversed previous nuclear bans and are actively driving new-build nuclear projects. As for CCS, most energy companies are working hard to deliver a working CCS solution, because in the near future, they will not be able to build new coal or gas-fired plants without it. Industrial Info Europe is tracking the progress of all of the major CCS projects currently under way."
Industrial Info Europe also provides information on forced and planned unit maintenance outages to power and petroleum traders that conduct business in European markets. This information is also being used by equipment and service providers who benefit from maintenance work at power plants and petroleum refineries across Europe. In the future, there are plans to expand Industrial Info Europe's industry coverage of the Chemical Processing, Metals & Minerals and Pulp & Paper industries.
Industrial Info Resources (IIR) is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy related markets. For more than 26 years, Industrial Info has provided plant and project spending opportunity databases, market forecasts, high resolution maps, and daily industry news. For more information send inquiries to europe@industrialinfo.eu or visit us online at Industrial Info Europe (http://www.industrialinfo.eu).
About the Author
British Track Cycling pursuit team win Gold at World Champs
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