Rise in Demand for Green Electricity Due to Depleting Pollution during COVID-19
The nationwide shutdown of production facilities and lockdown scenarios have led to significant drop in pollution levels due to the COVID-19 (coronavirus) outbreak. Hence, Swiss environmentalists are demanding a green recovery from industries that lead to increased greenhouse gas emissions, such as aviation, after the pandemic subsides in the upcoming months. Thus, companies in the Switzerland electricity transmission & distribution EPC market should capitalize on this opportunity to encourage renewable energy electricity generation for power producers.
Several thousand individuals, including environmentalist activists are raising concerns over rising greenhouse gas levels in Switzerland. In order to address this issue, individuals are signing petitions and presenting it in the parliament to create a movement toward green electricity generation. Similar to wind energy growing popular in the Germany electricity transmission & distribution EPC market, companies should pitch power producers in Switzerland to adopt the same.
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Software Consultation Companies Streamline Procurement Projects at Austrian Power Grids
Software companies are stepping in the Austria electricity transmission & distribution EPC market to help producers in the procurement of projects. For instance, ReqPOOL- a leading management consulting firm for software in the German-speaking region, is partnering with Austrian Power Grid AG to help energy producers and distribution system operators efficiently manage the maintenance and technical services for electricity production. Key developments in the electricity transmission & distribution EPC market in GSA are contributing toward exponential revenue growth, where the market is projected to surpass the US$ 546.5 Bn mark by 2030.
Advanced software systems are being used for workforce management, timetable management, and rectifying bottlenecks in the expansion of the power grid network. These systems detect faults and fluctuations in energy at the power grid, thus professionalizing daily activities with the help of actionable data.
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Renewables Projected to Dominate German Rail Network Power Play
The trend of green energy generation is plaguing the electricity transmission & distribution EPC market in GSA. For instance, German rail operator Deutsche Bahn has joined forces with solar project developer Enerparc to construct a 42 megawatt (MW) solar power plant in Wasbek, eastern Germany, whilst gravitating toward their goal of building an entirely renewable energy-driven rail network by 2038. Companies are harvesting the advantages of a converter plant to supply rail networks with solar power. They are increasing efforts to earn land use permits from local authorities to establish solar-energy driven rail networks.
Companies in the electricity transmission & distribution EPC market in GSA are increasing their R&D capabilities to increase the volume of clean energy in its power mix. They are increasing efforts to directly feed solar power directly into the traction current network. Companies are becoming conscious about climate protection and hence, are increasing the volume of clean energy in their power mix.
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Rectification of German Wind Energy Infrastructure Crucial to Ensure Cost Savings
Renewable energy sources such as wind power is capturing the electricity transmission & distribution EPC market in GSA. However, recently, a fierce storm named Sabine hit Europe in February and has created a new issue of over supplying several gigawatts (GW) of electricity to the national power grid in Germany. This has resulted in exorbitant costs of billions of dollars in extra bills to be borne either by the people or the producer of electricity. Thus, companies in the Germany electricity transmission & distribution EPC market should rectify the vulnerability of wind energy infrastructures to avoid future adverse events.
The proliferation of wind turbines and solar energy in the Germany renewable energy infrastructure has set a benchmark for other countries in the electricity transmission & distribution EPC market in GSA. As such, solar electricity generation is on a rise in Germany.
Photovoltaic Plants Hold Promising Potentials in Saving CO2 Emissions
New projects for the development of photovoltaic plants are Austria are generating incremental opportunities for companies in the electricity transmission & distribution EPC market in GSA. In July 2020, international oil & gas company, OMV, headquartered in Vienna, announced that it is partnering with Austria’s leading electricity company VERBUND to develop one of the largest photovoltaic plant in Austria to supply households. Companies in the electricity transmission & distribution EPC market in GSA are enhancing their credibility by developing large-scale photovoltaic plants that hold promising potentials in saving around several metric tons of carbon dioxide (CO2).
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Since the residential sector is one of the largest consumers of electricity, companies have developed a laser-like focus to implement eco-friendly power generation solutions to be more conscious about climate change.
Local Blockchain-based Electricity Distribution Qualifies to Increase Electricity Consumption in Switzerland
Innovative business models are surfacing in the Switzerland electricity transmission & distribution EPC market. Local electricity supplier Water and Electricity Works Walenstadt (WEW) provided access for its distribution grid to 37 households in Walenstadt to directly buy and sell solar power via a local blockchain-based electricity distribution model. The Swiss Federal Office of Energy (SFOE) is encouraging electricity producers to adopt such distribution networks to verify the technical feasibility of the network and also study user behavior.
It has been found that there is a high consumption in electricity due to the adoption of local blockchain-based electricity distribution. Thus, automation is playing a key role in resulting transactions, whereas electricity and solar power producers are realizing the importance of the blockchain technology. Blockchain-based electricity distribution has the advantage of supplying normal electricity at times when supply of solar power is insufficient.
Extra bills encircle the Germany electricity transmission+ & distribution EPC market for producers and consumers, since most of the economy lay idle during the COVID-19 pandemic, but the sunny & windy weather led to over-generation of electricity. Hence, companies should rectify issues in their renewables infrastructure to avoid future adverse events. The market is expected to register a sluggish CAGR of 3.5% during the forecast period, as expensive authorization process and lack of adequate areas for developing photovoltaic plants in Switzerland are a problem. Hence, companies should educate their government about building photovoltaic fields such as in Mediterranean countries including Spain and Portugal to boost the consumption of solar electricity.
GSA Electricity Transmission & Distribution EPC Market: Overview
- Electricity transmission & distribution EPC contractors carry out detailed design and layout of projects, procurement of equipment, manufacturing of systems, functional testing, and delivery of functioning assets or facilities. Sometimes, electricity transmission & distribution EPC contactors also enter into service contracts with clients.
- Electricity transmission & distribution EPC services are used by several transmission & distribution system operator companies. Electricity transmission & distribution EPC services are primarily employed in long-term projects that entail complex construction, stringent regulations, and a wide network of contractors and suppliers.
Inadequate Availability of Grid Infrastructure to Drive GSA Electricity Transmission & Distribution EPC Market
- Consumption of power has been increasing significantly across Europe over the last few years. According to Enerdata, electricity consumption in Europe increased from 3,310 TWh in 2015 to 3,358 TWh in 2019; of this, Germany accounted for 17.2% of regional electricity consumption in 2019. Majority of the demand for electricity comes from metropolitan and industrial areas in the south and west of the country. However, most wind capacities are present in the northern part of Germany. The share of wind capacity is anticipated to increase significantly in the near future, as the government plans to shut down all nuclear facilities by the end of 2022 and all coal plants by 2038.
- Existing connections to carry wind power from north to west and south are insufficient to accommodate the increase in renewable energy needed to meet the rising consumption of electricity. Hence, substantial investment is required in T&D infrastructure to transmit electricity. This, in turn, is anticipated to drive the electricity transmission & distribution EPC market.
Modernization of Grid Systems in Europe to Boost GSA Electricity Transmission & Distribution EPC Market
- Electricity transmission & distribution EPC plays a vital role in building of T&D infrastructure. Growth of the electricity transmission & distribution EPC market can be ascribed to the rise in demand for modernization of the aging power infrastructure.
- Aging power infrastructure is becoming a prominent challenge for developed countries. It leads to immense pressure on the infrastructure to provide a reliable, cost-effective, and ‘future proof’ energy generation and distribution for end users.
- Several countries in Europe are facing issues such as run-down infrastructure that cannot withstand the demands presently being placed on it. This has created a need for substantial investment in T&D infrastructure. In turn, this is expected to augment the electricity transmission & distribution EPC market.
- Transmission system operators in countries in Europe, such as Switzerland and Austria, are investing significantly in modernization of the existing T&D infrastructure in order to maintain grid stability. For instance, in 2019, the Swiss Federal Office of Energy (SFOE) announced a plan to replace 220-kilovolt line between Niederwil (AG) and Obfelden (ZH) with a new 380-kV line. Thus, increase in investments in refurbishment of aging grid infrastructure is anticipated to drive the electricity transmission & distribution EPC market during the forecast period.
- Continuous evolution of power generation technology has prompted energy distribution and generating facilities to upgrade T&D infrastructure. These facilities need to work in tandem with ‘future proof’ networks, as more coal plants are decommissioned.
- Smart grids refer to the modernization of the electricity delivery system to enable greater automation in grid operation at virtually every node, including facilitating data communication and operations between all agents in the system, which include generators, system operators, and final demanders. Adoption of smart grid technologies to improve existing electricity transmission and distribution is also estimated to boost the electricity transmission & distribution EPC market during the forecast period.
Prominent Contracts and Acquisitions in GSA Electricity Transmission & Distribution EPC Market
- In April 2020, ZTT was contracted by TenneT, a leading Europe-based power supplier for the development program of the +/-525kV flexible DC submarine cable system
- In October 2018, ZTT International Limited completed the acquisition of Turkey-based Demirer Kablo. The Demirer Kablo has more than 30 years of production experience in HV and UHV power cables, including accessories, in Turkey. The acquisition enabled ZTT International Limited to expand their business portfolio in in HV and UHV power cables.
Germany to Dominate GSA Electricity Transmission & Distribution EPC Market
- Germany dominated the electricity transmission & distribution EPC market in GSA in 2019. Growth of the electricity transmission & distribution EPC market in Germany can be primarily ascribed to the ongoing investment in development of offshore wind power generation facilities, along with government’s plans to shut down all coal plants by 2038 and all nuclear facilities by the end of 2022.
- The electricity transmission & distribution EPC market in Switzerland is likely to expand at a moderate pace during the forecast period. Ongoing investment in modernization of existing T&D infrastructure is a key factor estimated to boost the electricity transmission & distribution EPC market in the country during the forecast period.
- The electricity transmission & distribution EPC market in Austria is likely to expand at a moderate pace during the forecast period. Increase in focus on de-carbonization of the power sector through the adoption of renewable technologies is a key factor estimated to boost the electricity transmission & distribution EPC market in the country during the forecast period.
Highly Competitive GSA Electricity Transmission & Distribution EPC Market
- The GSA electricity transmission & distribution EPC market is highly competitive with the presence of numbers of players operating at local and national levels
- Key players operating in the electricity transmission & distribution EPC market include –
- Fluor Corporation
- Europower Energie B.V.
- Eltel Networks
- GOPA-International Energy Consultants GmbH
- GENERAL ELECTRIC
- Renewable Energy System Limited
- Bechtel Corporation
- EPC Solutions
- IFM – Internationale Freileitungsmontage A.S.
- STEAG GMBH