World Electric Power Equipment

Transcription

1 Freedonia Industry Study #1537 World Electric Power Equipment Study Publication Date: April 2002 Price: $4,600 Pages: 248 World Electric Power Equipment, a new study from The Freedonia Group, provides you with an in-depth analysis of the major trends in the world market for electric power equipment and the outlook for product segments and major markets -- critical information to help you with strategic planning. This brochure gives you an indication of the scope, depth and value of Freedonia's new study, World Electric Power Equipment. Ordering information is included on the back page of the brochure. Brochure Table of Contents Study Highlights... 2 Study Table of Contents and List of Tables and Charts... 4 Sample Pages and Tables from: Market Environment... 6 World Supply and Demand... 7 Supply and Demand by Country and Region... 8 Industry Structure... 9 Company Profiles List of Companies Profiled Forecasting Methodology About the Company Advantages of Freedonia Reports About Our Customers Related Studies Ordering Information... 16

2 Study Highlights World transmission and distribution electric equipment demand is forecast to rise four percent per year through 2005 to over $75 billion. Demand for electric power equipment from the electric utilities sector will see the slowest gains, a result of deregulation in the electricity sectors in virtually all parts of the globe. The Asia/Pacific region is forecast to see the strongest percentage gains through 2005, and further boost its position as the world's largest regional electric power equipment market. While the Latin America and Africa/Mideast regions are expected to see above average growth, the East European market for electric power equipment will post weak gains, based in large part on the region's decrease in population levels. No single company dominates the global electric power equipment industry, although eleven companies accounted for more than 60 percent of sales in Excluded from the scope of the study are fluorescent lamp ballasts, electronic transformers and power generation equipment (e.g., motors, generators). Freedonia Industry Study 2

3 Study Highlights World Electric Power Equipment Demand by Region, 2000 Western Europe 17.5% North America 29.0% Africa/Mideast 7.5% Asia/Pacific 29.2% Latin America 8.3% Eastern Europe 8.5% Electric Power Equipment Demand by Region (million US dollars) % Annual Growth Item /95 05/00 Electric Power Generation (bil kwh) Gross Fixed Investment (bil 98 US $) $ elec power equip/000 kwh $ elec power equip/000$ invest World Electric Power Equipment Demand North America: United States Sample Table Canada & Mexico Western Europe Asia/Pacific: Japan China Other Asia/Pacific Other World: Latin America Eastern Europe Africa/Mideast Copyright by The Freedonia Group, Inc. Order form on last page 3

4 Table of Contents I. EXECUTIVE SUMMARY Summary Table... 3 Tables and Charts are featured for each region and country. Historical data and forecasts are presented for 1995, 2000, 2005 and For each country/region, the following are provided: Population (millions) GDP/capita Gross Domestic Product (bil 98 US$) Electric Power Generation (bil kwh) Gross Fixed Investment (bil 98 US$) $ elec power equip/000 kwh $ elec power equip/000$ invest Electric Power Equipment Demand (mil US$) Industrial & Commercial Electric Utilities Residential net exports Electric Power Equipment Shipments Transformers Switchgear II. MARKET ENVIRONMENT General... 4 World Economic Outlook... 4 Recent Economic Performance... 5 Macroeconomic Outlook... 8 Table - Gross Domestic Product by Region... 9 Global Fixed Investment Trends... 9 Table - Gross Fixed Investment by Region World Demographic Outlook Table - Population by Region Urbanization Patterns Table - Urban Population by Region World Energy & Power Generation Outlook Table - Electricity Generation by Region & Source Cost/Pricing Dynamics Environmental Regulations & Standards Technological Trends Arc-Fault Circuit Interrupters High Temperature Superconducting Equipment Amorphous Core Transformers Thyristors Dry Polymer Cables III. SUPPLY & DEMAND General World Electric Power Equipment Markets Chart - Electric Power Equipment Demand per Capita/Gross Fixed Investment per Capita Relationship, Regional Markets Table - World Electric Power Equipment Demand by Region Chart - Electric Power Equipment Demand by Region, Demand By Market Freedonia Industry Study

5 Table - World Electric Power Equipment Demand by Market Chart - Electric Power Equipment Demand by Market, Industrial & Commercial Table - World Industrial & Commercial Market for Electric Power Equipment Electric Utilities Table - World Electric Utilities Market for Electric Power Equipment Residential Table - World Residential Market for Electric Power Equipment Production Overview Table - World Electric Power Equipment Production by Region Chart - Electric Power Equipment Production by Region, Transformer Production Table - World Transformer Production by Region Switchgear Production Table - World Switchgear Production by Region International Trade Flows Table - World Trade Flows by Region VII. Sweden United Kingdom Other Western Europe Asia/Pacific: General Australia China India Indonesia Japan South Korea Taiwan Thailand Other Asia/Pacific OTHER REGIONS Other Regions: General Latin America Brazil Other Latin America Eastern Europe Russia Other Eastern Europe Africa/Mideast South Africa Turkey Other Africa/Mideast IV. NORTH AMERICA North America: General United States Canada Mexico V. WESTERN EUROPE Western Europe: General France Germany Italy The Netherlands Spain VIII. INDUSTRY STRUCTURE General Industry Composition & Market Share Chart - World Electric Power Equipment Market Share by Company, Product Development Manufacturing Marketing & Distribution Cooperative Agreements Table - Selected Cooperative Agreements Mergers, Acquisitions & Industry Restructuring Table - Selected Acquisitions & Divestitures..171 Company Profiles Order form on last page 5

6 Market Environment The Market Environment Section discusses key indicators that drive demand for electric power equipment, including demographic and technological trends and Freedonia s uniquely developed macroeconomic indicators. MARKET ENVIRONMENT This information provides you with an understanding and an analysis of the climate in which the global electric power equipment industry operates and helps you build your market strategy to sustain long-term growth. Technological Trends - Thyristors Due to the increasing use of equipment which is sensitive to variations in power supply, energy users and, therefore, utilities are becoming increasingly aware of SAMPLE PAGE power quality. The loss of electric power for as little as one-sixtieth of a second -- one cycle of alternating current -- can result in severe damage to electronics and microprocessor-based equipment, as well as the shutdown of computer controlled production equipment. The total demand for electric power is also increasing, pushing the limits of electric power transmission and distribution systems. These systems typically operate at well below their ultimate capacity to provide a margin of safety and avoid overloading the systems when a part of the power grid goes down. Utilities limit the amount of power on high voltage lines in order to control any type of instability. Power fluctuations caused by strains in the electrical transmission and distribution system can be limited through the use of thyristors, electronic switches which lessen the fluctuations caused by generators going down or being connected. Thyristors, which are a fraction of an inch thick, can rapidly switch thousands of amperes at thousand of volts, and are capable of cutting off a circuit fault and cutting into a new power source without interrupting even one cycle of current. The three main types of thyristors are silicon controlled rectifiers (SCR), gate turn off thyristors (GTO) and metal-oxide semiconductor (MOS) controlled thyristors. SCRs are capable of switching power at the beginning cycle only, while GTOs can switch power at any electric cycle point; however, GTOs are generally more inefficient and expensive. MOS thyristors are power semiconductor devices that combine an MOS transistor as the gate and a thyristor as the power source. Mitsubishi Electric (Japan) is a major contributor in the advancement of thyristor technology. For example, the company utilizes GTO thyristors as part of its HV- Copyright by The Freedonia Group, Inc. 6 Freedonia Industry Study

7 Supply & Demand The Supply and Demand Section highlights the key issues that have affected the global electric power equipment market over the past ten years and summarizes contributing growth factors. This information helps you: Focus your sales and marketing efforts on high growth areas. Propose new areas for development SUPPLY & DEMAND Transformer Production Global production of transformers totaled $22.2 billion in 2000, representing 36 SAMPLE PAGE percent of the overall transmission and distribution electric power equipment industry. Through 2005, production of transformers is forecast to grow 4.1 percent per year to $27.1 billion, slightly outpacing gains in switchgear shipments. Sales of more expensive high voltage transformers -- largely limited to the utilities sector at present -- will benefit from increasing industrial cogeneration and the rising popularity of independent power producers in many parts of the world. In addition, the heightening use of sensitive electronic equipment will boost sales of voltage regulating transformers. Regional gains in transformer production will follow the same pattern as overall electric power equipment production trends. In this type of industry, both main product categories -- transformers and switchgear -- tend to be required hand-inhand with very few exceptions where one can be used without the need for the other. In 2005, the world s largest manufacturers of transformers will be the US, China, Japan, Germany, Russia, India and France. SAMPLE TABLE Order form on last page 7

8 Supply & Demand by Country & Region These Sections analyze supply and demand trends and consider the threats and opportunities in each country and region. Germany WESTERN EUROPE Shipments of electric power equipment from Germany totaled $4.5 billion in 2000, giving the country a trade surplus of $1.7 billion -- more than for any other SAMPLE PAGE country except Japan. Germany is home to one of the world s most important electric power equipment producers: Siemens. In addition, numerous major international producers are active in the country s domestic electric power equipment industry, including ABB (Switzerland), Alstom (France), General Electric (US), Legrand (France) and Schneider (France). About 70 percent of electric power transmission and distribution equipment production was accounted for by switchgear and switchboard apparatus, with the remainder accounted by transformers. Demand for electric power equipment in Germany is projected to rise 2.7 percent Japan: Electric Power Equipment Supply & Demand per year through 2005 to $3.2 billion. Although this growth will lag the already (million U.S. dollars) subpar pace forecast for the region as a whole, it will mark a moderate improvement over the markets s performance in the period. Demand will be Item aided by an improved 1990 macroeconomic 1995 outlook, 2000 with 2005 gains in fixed 2010investment levels translating into increased construction of residential and commercial Population (millions) buildings. The industrial 123.5and commercial sector s demand for electric power GDP/capita equipment will rise percent per year through to billion while sales to Gross Domestic Prdt (bil 98 US$) the utility sector will 3034 increase percent 3472 per year 3780 over the same 4235span to $1.4 billion. Residential electric equipment sales will see the strongest growth, albeit Electric Power Generation (bil kwh) from a low base, of 3.1 percent per year to $215 million in Gross Fixed Investment (bil 98 US$) Shipments of electric power equipment from Germany are forecast to rise 3.2 $ elec power equip/000 kwh percent per year through to 4.44 $5.3 billion, 4.34 outpacing 4.45 gains 4.60 in domestic sales $ elec power equip/000$ invest and resulting in an increase 4.64 in the 5.10 country s 5.26 trade surplus 5.10 to $ billion. Although this pace is below the regional and global average forecast pace, it is respectable SAMPLE TABLE Electric Power Equipment Demand considering the pre-existing 4005 high 4205 base level 4490 of shipments 5005 from 5630 Germany. Industrial & Commercial Germany s high labor 1970 costs and 2070 weak domestic 2210 market 2460growth 2770 potential are Electric Utilities Residential net exports Electric Power Equipment Shpts Transformers Switchgear Copyright by The Freedonia Group, Inc. 8 Freedonia Industry Study

9 Industry Structure Sample page from Freedonia Industry Study Gain #1111 a better World global Security understanding Products of & Systemscompetition and analyze your your company's position in the industry with information about: industry composition market share product development manufacturing marketing & distribution cooperative agreements mergers & acquisitions industry restructuring INDUSTRY STRUCTURE Marketing & Distribution Similar to manufacturing techniques, marketing strategies and distribution channels vary widely between different types of electric power equipment. These variations greatly depend upon the nature of the product and the markets it serves. For example, relatively few, custom-designed power transformers are sold worldwide each year, and these are sold almost exclusively to electric utilities. By contrast, millions of standardized MCCBs are purchased annually by customers in virtually every electric power equipment end-use market. Although one company might manufacture both products, the approach the producer takes to these markets will be extremely different. SAMPLE PAGE Power transformers and other complex electric power equipment are often custom designed and are primarily sold through a company s own sales force, whose members generally have an engineering background. Therefore, the manufacturer can ensure that it can meet the customer s requirements while monitoring costs and quality control. In addition, using a highly trained internal sales force allows the manufacturer to offer its customers a more complete range of services, including consulting, design, systems integration and service. For example, ABB believes that its systems diagnostics and analysis capabilities were a key to the company getting a $100 million order from Commonwealth Edison, a Chicago, Illinois (US) based utility. The customer will use ABB s know-how to improve its electric grid in the Chicago area to better compete in the deregulated Illinois market. A significant proportion of complex equipment is also purchased through a project bid process in which producers submit bids on equipment or systems whose specifications are established by the customer. The bidding system allows customers to compare equipment from different suppliers in terms of price, since Copyright by The Freedonia Group, Inc. Order form on last page 9

10 Company Profiles The Profiles Section analyzes 26 companies active in the world electric power equipment industry. These profiles represent a sampling or crosssection of the types of companies involved in the industry. Divisions, subsidiaries, joint ventures, etc., are discussed under appropriate parent companies. Legrand SA 128, avenue du Marechal de Lattre de Tassigny Limoges Cedex France COMPANY PROFILES Sources for profiles included: Information provided by key staff members in the respective companies Annual reports 10-K reports Security analysts reports Corporate product literature Pass & Seymour/Legrand Incorporated 50 Boyd Avenue Syracuse, NY Sales: $2.8 billion (2001) SAMPLE PAGE Geographic Sales: (2001, as percent of total) France 30%, Italy 18%, Other European Countries 16%, US 24% and Other Countries 11% Employment: 27,110 (2000) Key Products: transformers, circuit breakers, connectors, controls and meters, enclosures and bus duct Legrand produces low-voltage fittings and accessories for residential, commercial and industrial markets. In January 2001, the Company agreed to be acquired by Schneider Electric SA (France), an $8.9 billion diversified company with businesses in electrical distribution and industrial control and automation. However, in October 2001, at which time the transaction was already in progress, the proposed takeover was rejected by the European Commission. The terms for Schneider to withdraw from Legrand s capital were set by the European Commission in January The Company is active in the world electric power equipment industry through its manufacture of low-voltage electrical distribution, transmission and Copyright by The Freedonia Group, Inc. 10 Freedonia Industry Study

11 Companies Profiled ABB Ltd. East Midlands Electricity Contracting MEGA Transformadores SA Alstom SA Bharat Heavy Electricals Ltd. Carbone-Lorraine Ferraz Shawmut Carling Technologies Inc. Central Moloney Inc. Cooper Industries Inc. Eagle Electric Manufacturing Co. Inc. Danaher Corp. Cyberex LLC Fisher Pierce Joslyn Hi-Voltage Qualitrol Corp. United Power Corp. Eaton Corp. Cutler-Hammer Durant Power General Electric Co. GE-Hitachi HVB Inc. GE Prolec Grasslin GmbH & Co. KG Odink & Koenderink BV Hitachi Ltd. GE-Hitachi HVB Inc. J-Power Systems Corp. Japan AE Power Systems Corp. Honeywell International Inc. UltraGlas Power Products Howard Industries Inc. Hubbell Inc. Anderson Electrical Products Inc. Fargo Manufacturing Co. Inc. Ohio Brass Co. Kuhlman Electric Corp. Legrand SA Pass & Seymour/Legrand Inc. Magnetek Inc. Mitsubishi Electric Corp. Powell Industries Inc. Delta-Unibus Corp. Unibus Inc. S&C Electric Co. Schneider Electric SA Bardin SA Crompton Greaves EFI Electronics Inc. EMIT Transformers May & Steffens GmbH & Co. KG Metesan Lexel Elektrik More Electric Group Prodax S&S Power Switchgear Ltd. Nu-Lec Industries Inc. Square D Co. VA Tech Schneider Electric High Voltage Siemens AG SPX Corp. High Voltage Supply Inc. Power Systems Development Inc. Waukesha Electric Systems Toshiba Corp. Tyco International Ltd. AMP Inc. Dorman Smith plc Dulmison Australia Raychem Corp. Shenzen Original Electric Co. Ltd. VA Technologie AG VA Tech Schneider Electric High Voltage Order form on last page 11

12 Forecasting Methodology Freedonia does not just collect and reprint data; Freedonia develops data. Our analysts thoroughly investigate an industry by extensively interviewing key industry participants and analyzing information from sources such as associations, government and trade literature. Once this research is complete, Freedonia establishes one set of forecasts. All writing, editing and forecasting is done in-house to assure quality and consistency. In cases where data does not exist, Freedonia develops the data based on input/output ratios, bills of materials and flow charts. The following chart summarizes Freedonia's methodology. The Freedonia Economics Group Consistent framework of indicators on... Electric Power Generation Gross Domestic Product World Population... and many others Freedonia In-house Research Quantitative forecasting Industry structure & market share analyses Product analyses & forecasts Methodology for World Electric Power Equipment Extensive Interviews Key participants Industry experts End-users Proprietary Electronic Database Trade publications Government reports Corporate literature Online databases... and many others 12 Freedonia Industry Study

13 About The Freedonia Group The Freedonia Group, Inc. is a leading international industry study/ database company. Since 1985, Freedonia has published 1,800 titles covering areas such as plastics, chemicals, coatings and adhesives, building materials, industrial components and equipment, health care, packaging, household goods, security, and many other industries. Freedonia has produced a wide variety of titles, including: World Micropower Portable Power Supplies Uninterruptible Power Supplies Electric Power Equipment Because Freedonia is a reliable information source, our forecasts are cited in numerous publications such as The Wall Street Journal, The Financial Times and Purchasing. Advantages of Freedonia Reports In-house operations Because all of our staff work at the same location, interaction between analysts and departments provides a strong system of checks and balances. Consistency Our Economics Group develops indicators that are used by all analysts. Therefore, every Freedonia study is based on a consistent set of economic assumptions (GDP, electric power generation, world population, etc.). Reliable forecasts Because all of our forecasts consider the environment in which a product or industry is operating, as well as threats and opportunities to the market, Freedonia forecasts are reliable indicators of future performance. One-on-one interviews All studies are produced by conducting interviews with key industry participants and end-users. Proprietary electronic database Freedonia s analysts can tap into an extensive in-house electronic database containing corporate literature (including private company information), trade publications, government reports and many other sources of information. Order form on last page 13

14 About Our Customers Freedonia's clients include major US and international companies in the manufacturing, services, consulting and financial sectors. Typical purchasers of Freedonia studies : Key Executives Corporate Planners Market Researchers Financial Analysts Information Centers New Product Developers Merger & Acquisition Specialists Since 1985 we have provided research to customers ranging in size from global conglomerates to one person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia research to help with their strategic planning. Some of Freedonia's customers in the electric power equipment industry include: Alstom, Eaton, General Electric and Siemens. 14 Freedonia Industry Study

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