market trends, regulation and competitive landscape · the report starts with an executive summary...

Afghanistan Power Market Outlook to 2030 Market Trends, Regulation and Competitive Landscape

GDPE0654ICR / Published April 2013

Afghanistan Power Market Outlook to 2030-Market Trends, Regulation and Competitive Landscape

GDPE0654ICR / Published APR 2013

© GlobalData. This report is a licensed product and is not to be copied, reproduced, shared or resold in any form

Hydro Installed Capacity Dominates in Afghanistan

The cumulative installed capacity for power in Afghanistan was XX Megawatts (MW) in 2012. Hydro accounted for a share of XX% of this installed capacity. It is estimated that Afghanistan has a total XX MW of hydropower potential. In order to support the power demand in the country, the country is required to increase the hydro power generation capacity. However, it is expected that Afghanistan will not be able to fund any significant increase in hydro installed capacity and consequently development will be very limited.

Power Market, Afghanistan, Cumulative Installed Capacity by Type of Power Plant (%), 2012

Hydro

Thermal

Source: GlobalData, Capacity and Generation Database [Accessed November 27, 2012]

Continued Growth in Electricity Consumption

The annual power consumption in Afghanistan has increased at a Compound Annual Growth Rate (CAGR) of XX% from XX Gigawatt-hours (GWh) in 2000 to XX GWh by 2012. There is still a huge gap between power demand and power supply in the country. The country’s post-war government is making efforts to restore power infrastructure with the help of donor nations. With the government’s commitment to increase and improve the electricity infrastructure, the power supply within the country is expected to improve because of which consumption is likely to increase. It is estimated that annual power generation will increase at a CAGR of XX% during the forecast period, in order to meet increasing power demand.

Power Market, Afghanistan, Annual Power Consumption (GWh), 2000, 2006, 2012

2000 2006 2012

Annu

al p

ower

gen

erat

ion

(GW

h)


Power Deficit to Characterize Afghanistan’s Power Market

Afghanistan’s power infrastructure has been damaged considerably in the war. For instance, the transmission network is inadequate to handle the available supply of power in Afghanistan. This lack of sufficient infrastructure has led to an increasing gap between the supply and demand of power in the country. During 2011, the industrial units were functioning at half of their production capacity due to inadequate power supply. Only XX% of the total rural population (which represents almost XX% of Afghanistan’s total population) has access to electricity. This situation is expected to worsen after 2014 when the country will face the difficulty of introducing additional investment in the power sector after US troops have moved out of Afghanistan.




1 Table of Contents 1 Table of Contents ............................................................................................................................ 3

1.1 List of Tables ............................................................................................................................. 4 1.2 List of Figures............................................................................................................................ 4

2 Introduction ..................................................................................................................................... 5 2.1 GlobalData Report Guidance ..................................................................................................... 5

3 Afghanistan, Power Market, A Snapshot ........................................................................................... 6 3.1 Macro Economic Factors ........................................................................................................... 6 3.2 Supply Security ......................................................................................................................... 6 3.3 Generation Infrastructure ........................................................................................................... 7 3.4 Transmission Infrastructure ........................................................................................................ 7 3.5 Degree of Competition ............................................................................................................... 7 3.6 Regulatory Scenario .................................................................................................................. 8 3.7 Future Potential ......................................................................................................................... 8

4 Afghanistan, Power Market Analysis ................................................................................................. 9 4.1 Afghanistan, Power Market, Installed Capacity, 2000–2030 ........................................................ 9

4.1.1 Installed Capacity: Breakup by Type of Power Plant, 2012 ................................................. 9 4.1.2 Cumulative Installed Capacity and Annual Generation, 2000–2030 .................................. 10 4.1.3 Thermal Installed Capacity and Generation, 2000–2030 .................................................. 13 4.1.4 Hydro Installed Capacity and Generation, 2000–2030 ...................................................... 16

4.2 Afghanistan, Power Market, Import and Export Scenario ........................................................... 18 4.3 Afghanistan, Power Market, Annual Power Consumption, 2000–2030 ....................................... 20 4.4 Afghanistan, Power Market, Power Consumption by Sector, 2011............................................. 22

5 Afghanistan, Power Market, Infrastructure ...................................................................................... 23 5.1 Afghanistan, Power Market, Leading Active Power Projects ...................................................... 23

5.1.1 Leading Thermal Power Projects ..................................................................................... 23 5.1.2 Leading Hydropower Projects ......................................................................................... 23

5.2 Afghanistan, Power Market, Upcoming Power Projects ............................................................. 24 5.2.1 Leading Upcoming Thermal Power Projects .................................................................... 24 5.2.2 Leading Upcoming Hydropower Projects ......................................................................... 24

5.3 Afghanistan, Power Market, Transmission Network Overview ................................................... 25 5.4 Afghanistan, Power Market, Distribution Network Overview ...................................................... 26 5.5 Afghanistan, Power Market, Grid Interconnection ..................................................................... 26

6 Afghanistan, Power Market, Regulatory Structure ........................................................................... 27 6.1 Afghanistan, Power Market, Regulatory Structure Overview ...................................................... 27

6.1.1 Electricity Reforms .......................................................................................................... 27 6.2 Energy Sector Laws and Regulations ....................................................................................... 28

7 Afghanistan, Power Market, Competitive Landscape: Snapshot of Leading Power Generating Companies .................................................................................................................................... 29

7.1 Afghanistan, Power Market, Market Share of Major Power Generating Companies .................... 29 7.2 Key Company in Afghanistan Power Market, Da Afghanistan Breshna Sherkat ......................... 29

7.2.1 Da Afghanistan Breshna Sherkat, Company Overview ..................................................... 29 7.2.2 Da Afghanistan Breshna Sherkat, Business Description ................................................... 29 7.2.3 Da Afghanistan Breshna Sherkat, SWOT Analysis ........................................................... 30

8 Appendix ....................................................................................................................................... 32 8.1 Market Definitions .................................................................................................................... 32

8.1.1 Power............................................................................................................................. 32 8.1.2 Installed Capacity ........................................................................................................... 32 8.1.3 Active Installed Capacity ................................................................................................. 32 8.1.4 Electricity Generation ...................................................................................................... 32 8.1.5 Electricity Consumption................................................................................................... 32 8.1.6 Thermal Power Plant ...................................................................................................... 32 8.1.7 Hydropower Plant ........................................................................................................... 32 8.1.8 Nuclear Power ................................................................................................................ 32 8.1.9 Renewable Energy Resources ........................................................................................ 32

8.2 Abbreviations .......................................................................................................................... 33 8.3 Bibliography ............................................................................................................................ 34 8.4 Coverages .............................................................................................................................. 35 8.5 GlobalData’s Methodology ....................................................................................................... 35

8.5.1 Secondary research and analysis .................................................................................... 35




8.5.2 Primary Research and Analysis ....................................................................................... 36 8.6 Contact Us .............................................................................................................................. 36 8.7 Disclaimer ............................................................................................................................... 36

1.1 List of Tables Table 1: Power Market, Afghanistan, Cumulative Installed Capacity by Type of Power Plant (%), 2012 . 9 Table 2: Power Market, Afghanistan, Cumulative Installed Capacity (MW) and Annual Power

Generation (GWh), 2000–2030 ........................................................................................... 12 Table 3: Power Market, Afghanistan, Thermal Installed Capacity (MW) and Annual Power Generation

(GWh), 2000–2030 ............................................................................................................. 15 Table 4: Power Market, Afghanistan, Hydro Installed Capacity (MW) and Annual Power Generation

(GWh), 2000–2030 ............................................................................................................. 17 Table 5: Power Market, Afghanistan, Total Annual Imports (GWh), 2000–2011 .................................. 19 Table 6: Power Market, Afghanistan, Annual Power Consumption (GWh), 2000–2030 ....................... 21 Table 7: Power Market, Afghanistan, Power Consumption by Sector (%), 2011 .................................. 22 Table 8: Power Market, Afghanistan, Leading Active Thermal Power Projects, 2012 .......................... 23 Table 9: Power Market, Afghanistan, Leading Active Hydropower Projects, 2012 ............................... 23 Table 10: Power Market, Afghanistan, Leading Upcoming Thermal Power Projects, 2012 .................... 24 Table 11: Power Market, Afghanistan, Leading Upcoming Hydropower Projects, 2012 ......................... 24 Table 12: Power Market, Afghanistan, Length of Transmission Lines (km), 2012 .................................. 25 Table 13: Power Market, Afghanistan, Market Share of Power Generating Company (%), 2012 ........... 29 Table 14: Da Afghanistan Breshna Sherkat, SWOT Analysis ............................................................... 30 Table 15: Abbreviations ...................................................................................................................... 33

1.2 List of Figures Figure 1: Power Market, Afghanistan, Cumulative Installed Capacity by Type of Power Plant (%), 2012 . 9 Figure 2: Power Market, Afghanistan, Cumulative Installed Capacity (MW) and Annual Power

Generation (GWh), 2000–2030 ........................................................................................... 11 Figure 3: Power Market, Afghanistan, Thermal Installed Capacity (MW) and Annual Power Generation

(GWh), 2000–2030 ............................................................................................................. 14 Figure 4: Power Market, Afghanistan, Hydro Installed Capacity (MW) and Annual Power Generation

(GWh), 2000–2030 ............................................................................................................. 16 Figure 5: Power Market, Afghanistan, Total Annual Imports (GWh), 2000–2011 .................................. 18 Figure 6: Power Market, Afghanistan, Annual Power Consumption (GWh), 2000–2030 ....................... 20 Figure 7: Power Market, Afghanistan, Power Consumption by Sector (%), 2011 .................................. 22




2 Introduction Afghanistan’s is a developing country which is recovering from war which lasted for over three decades. The economy is improving since the fall of the Taliban regime in 2001 due to reasons such as, the international assistance the country has received, the recovery of the agricultural sector and the growth of the service sector in the country. The country has a republican form of government, where the president is both head of the state and commander-in-chief of the military. The country is a member of international organizations such as the South Asian Association for Regional Corporation (SAARC), the United Nations (UN), the United Nation Educational Scientific and Cultural Organization (UNESCO) and the United Nations Industrial Development Organization (UNIDO).

With an estimated Gross Domestic Product (GDP) of $XX billion (at current prices) in 2012, Afghanistan registered a GDP growth rate of XX% in 2012. The services sector is believed to have contributed a majority share of XX% to 2012’s GDP, followed by the agriculture sector with XX% and the industrial sector with XX%.

The country’s living standards are among the lowest in the world. The electricity infrastructure in the country is also outdated and has been largely destroyed during years of war. As of 2011 only XX% of its population had access to electricity (MEW, 2012). The war-damaged power infrastructure is restricting Afghanistan’s economic development. In addition to this, the country is also plagued with acute shortage of electricity which is further restricting the growth of the country. This is because most of the industrial units have closed down because of lack of electricity. For instance in the Nangahar province located in the eastern part of the country, XX factories operated in 2011 which has reduced to XX and this number is expected to reduce further if the situation prevails. The ripple effect of electricity shortage has been increase in unemployment and rise in poverty levels due to closure of industrial units. Another major cause hampering the development of the country is the corruption prevalent in the country which results in undue delays and sub optimal utilization of resources.

However, the Afghan government, with aid from donor countries like the US, is continuing to try and rebuild the electricity infrastructure to meet growing electricity demands in the country. The Afghan government is focused on setting up new power plants and restoring existing power plants destroyed in the war. The Ministry of Energy and Water (MEW) is responsible for overseeing the electricity sector in Afghanistan. Da Afghanistan Breshna Sherkat (DABS) is the sole electric utility of Afghanistan and is responsible for electricity generation, transmission and distribution. Hydropower is used as the primary source for power generation, contributing around XX% of total installed capacity in 2012.

2.1 GlobalData Report Guidance The report starts with an executive summary capturing key growth trends in the power market in

Afghanistan.

Chapter three is a snapshot of the power sector in Afghanistan.

Chapter four covers cumulative capacity and power generation information, providing data arranged by source of energy for the period between 2000 and 2012, with forecasts provided up to 2030. This is followed by the consumption scenario for the market and power consumption patterns from 2000 to 2012, with forecasts provided up to 2030.

Chapter five provides information on the infrastructure in Afghanistan. This includes leading active power plants and planned power plants, data on the electricity transmission infrastructure and future plans for development.

Chapter six provides a brief description of the power regulatory structure, prominent policies and policies influencing the future of the power market in Afghanistan.

Chapter seven describes the competitive landscape of Afghanistan’s power market, with a complete description and a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analyses provided for the leading companies in the market.

Note: From 2012 onwards, this report provides actual or estimated data depending on information available at the time of writing the report.


GDPE0654ICR / Published APR 2013 Page 9


4 Afghanistan, Power Market Analysis 4.1 Afghanistan, Power Market, Installed Capacity, 2000–2030 4.1.1 Installed Capacity: Breakup by Type of Power Plant, 2012 Hydropower dominated Afghanistan’s power market in 2012, contributing XX% to its total installed capacity. This was followed by thermal power plants, which accounted for XX% of its total installed capacity. Currently, the country generates power only through thermal and hydro sources, even though the country has good renewable potential. This is because Afghanistan does not yet have the required infrastructure to support renewable power generation. The transmission and distribution system within the country currently lacks the ability to supports the renewable capacity. Furthermore, the country also lacks funds to supports the renewable power development in the country

Figure 1: Power Market, Afghanistan, Cumulative Installed Capacity by Type of Power Plant (%), 2012

Hydro

Thermal


Table 1: Power Market, Afghanistan, Cumulative Installed Capacity by Type of Power Plant (%), 2012

Type of Power Plant Percentage Share (%)

Hydro

Thermal





4.1.2 Cumulative Installed Capacity and Annual Generation, 2000–2030 Afghanistan’s cumulative installed capacity increased at a CAGR of XX% from 407 MW in 2000 to XX MW in 2012. Hydropower accounted for the majority share of this capacity, followed by thermal installed capacity. At present, there is no coal-fired or gas-fired power generation capacity in Afghanistan.

During the forecast period 2013–2030, the country’s cumulative installed capacity is expected to increase at a CAGR of XX% from XX MW in 2013 to XX MW by 2030. Hydropower will continue to dominate the cumulative installed capacity in 2030, with a share of XX%. The thermal installed capacity share is expected to increase, accounting for a XX% share in 2030. By 2030, Afghanistan plans to install coal and gas power plants. Currently, the country does not support any infrastructure for renewable power plants and no renewable power plants are expected to be commissioned during the forecast period. This is due to the expected investment crunch that the withdrawal of US funds, will cause. It is expected that Afghanistan will not be able to support the construction and maintenance of renewable power sources as well as power capacity additions. So far, the country has not been able to attract considerable investment. However, the power market situation of Afghanistan will change if the country is able to bring in funds to support power sector development.

Electricity generation in Afghanistan increased from XX Gigawatt-hours (GWh) in 2000 to XX GWh in 2012, registering a CAGR of XX%. Hydropower generation accounts for the bulk of power generation in Afghanistan. It is estimated that total generation in the country will increase from XX GWh in 2013 to XX GWh in 2030 at a CAGR of XX%. In the future, hydropower will still dominate the country’s generation mix, with an estimated share of XX%. However, the share of thermal power in the generation mix is expected to grow, from XX% in 2012 to XX% in 2030. Thermal power’s increased share in Afghanistan’s generation mix is expected because of the opening of coal- and gas-fired plants in the future, and because water shortages, power equipment failure, and ageing power plants, which have been affected by decades of war, are expected to decrease hydropower generation.

The country’s electricity market is characterized by small hydropower plants and diesel generation units supplying power to isolated regional networks. The country also relies heavily on power imports from Iran, Turkmenistan, Uzbekistan and Tajikistan.




Figure 2: Power Market, Afghanistan, Cumulative Installed Capacity (MW) and Annual Power Generation (GWh), 2000–2030

0

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1,000

1,500

2,000

2,500

3,000

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2000

2002

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ual p

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paci

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Cumulative Installed Capacity (MW) Annual Power Genration (GWh) Source: GlobalData, Capacity and Generation Database [Accessed November 27, 2012]




Table 2: Power Market, Afghanistan, Cumulative Installed Capacity (MW) and Annual Power Generation (GWh), 2000–2030

Year Cumulative Installed Capacity (MW) Annual Power Generation (GWh)

2000

2001

2002

2003

2004

2005

2006

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2008

2009

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2011

2012

2013

2014

2015

2016

2017

2018

2019

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2021

2022

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2024

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2026

2027

2028

2029

2030





8 Appendix 8.1 Market Definitions The geographical coverage of the report is Afghanistan. The report covers market segments related to installed electricity capacity, generation, consumption, power infrastructure and power regulations. The report covers the whole of Afghanistan for a quantitative and qualitative assessment of its power market.

8.1.1 Power The rate of production, transfer, or energy use, usually related to electricity. Measured in watts and often expressed in kilowatts (kW) or Megawatts (MW), it is also known as "real" or "active" power.

8.1.2 Installed Capacity Installed capacity refers to the generator’s nameplate capacity as stated by the manufacturer, or the maximum rated output of a generator under given conditions. Installed capacity is given in Megawatts (MW) on a nameplate physically fixed onto the generator.

8.1.3 Active Installed Capacity Active installed capacity refers to that component of electric power that actually performs work. It is given in Kilowatts (kW) or Megawatts (MW).

8.1.4 Electricity Generation The production of electric energy by transforming other forms of energy. Also refers to the amount of electric energy produced, expressed in Gigawatt-hours (GWh).

8.1.5 Electricity Consumption Consumption of electricity calculated as: generation, plus imports, minus exports, minus transmission and distribution losses. Measured in Gigawatt-hours (GWh).

8.1.6 Thermal Power Plant A plant in which turbine generators are driven by burning fossil fuels.

8.1.7 Hydropower Plant A plant in which turbine generators are driven by falling water.

8.1.8 Nuclear Power The electricity generated by the use of the thermal energy released from the fission of nuclear fuel in a reactor.

8.1.9 Renewable Energy Resources Naturally replenishing energy resources limited in the amount of energy that is available per unit of time. For example, biomass, geothermal, solar, wind can all be termed as renewable resource.




8.2 Abbreviations

Table 15: Abbreviations Abbreviations Full Form

ACEP Afghan Clean Energy Project

AECB Afghan Energy Capacity Building

AEIC Afghan Energy Information Center

ANDS Afghanistan National Development Strategy

APEC Asia Pacific Economic Cooperation

CASAREM Central Asia/South Asia Regional Electricity Market

DABM Da Afghanistan Breshna Moassessa

DABS Da Afghanistan Breshna Sherkat

EIA Energy Information Administration

GDP Gross Domestic Product

GIZ German International Corporation

GWh Gigawatt-hours

HVAC High Voltage Alternating Current

HVDC High Voltage Direct Current

KfW Kreditanstalt für Wiederaufbau

Km Kilometres

kV Kilo-volt

MEW Ministry of Energy and Power

MW Megawatts

NEPS North East Power System

PPA Power Purchase Agreement

SEPS Southern Power System SEPS

SWOT Strengths, Weaknesses, Opportunities, and Threats

T&D Transmission and Distribution

USAID US Agency for International Development

W/m2 Watts per square meter

Source: GlobalData




8.3 Bibliography Afghanistan Statistical Year Book (2012) via Journal of Energy Security. Energy Development

Security Nexus in Afghanistan. Journal of Energy Security, November 20, 2012. Available from: http://www.ensec.org/index.php?option=com_content&view=article&id=386:energy-development-security-nexus-in-afghanistan&catid=130:issue-content&Itemid=405 [Accessed November 20, 2012].

AEIC, 2012. Afghanistan Electricity Imports 2011. Afghan Energy Information Center [database]. Available from: http://www.afghaneic.org/Data/Energy%20Imports%20Charts/Afghanistan%20Electricity%20import%20--2011.pdf.

CFC (2012). Afghanistan In transition. Civil Military Fusion Center. Available From: http://reliefweb.int/sites/reliefweb.int/files/resources/CFC_Afghanistan_Sustainability_of_Energy_Supplies.pdf.

DABS (2011). Energy Consumption and Available Energy Resources in Afghanistan. Da Afghanistan Breshna Sherkat. Available from: http://www.usea.org/sites/default/files/event-file/522/Afghan_Power_Sector_Briefing_June_2011.pdf

Daily Times (2012). 2-day IGC meeting: Afghanistan assures security for $873m electricity project. Daily Times. Available from: http://www.dailytimes.com.pk/default.asp?page=2012\05\17\story_17-5-2012_pg5_8 [Accessed November 20, 2012].

EIA, 2012. Afghanistan – Total Electricity Imports [database]. Available from: http://www.eia.gov/cfapps/ipdbproject/iedindex3.cfm?tid=2&pid=2&aid=3&cid=BR,&syid=2000&eyid=2010&unit=BKWH. [Accessed November 20, 2012].

Global Tenders (2012). Economy of Afghanistan. Global Tenders. Available from: http://www.globaltenders.com/economy-afghanistan.htm. [Accessed November 20, 2012].

IEEE (2012). Afghanistan Photovoltaic Power Applications for Rural Development. Institute for Energy and Environment. Available from: http://solar.nmsu.edu/publications/618_AfgPVAppsFINAL.pdf.

IRP (2012). Import of Power from Uzbekistan, Tajikistan, and Turkmenistan. Infrastructure and Rehabilitation Program. Available from: https://www.irp-af.com/?pname=open&id=291&type=html&c=5. [Accessed November 20, 2012].

REEP (2012). Afghanistan 2012. Renewable Energy and Energy Efficiency Partnership. Available from: http://www.reegle.info/policy-and-regulatory-overviews/AF. [Accessed November 20, 2012].

NPR (2012). Lack of Electricity Dims Afghans Economic Prospects. NPR. Available from: http://www.npr.org/2012/07/02/156119309/lack-of-electricity-dims-afghan-economic-prospects. [Accessed November 20, 2012].

MEW (2012). Status of Afghanistan’s Energy Sector. Ministry of Energy and Power via CNN iReport. Available From: http://ireport.cnn.com/docs/DOC-870628. [Accessed November 20, 2012].




OilPrice.Com. Afghanistan Landscape is Perfect for Renewable Energy. Oil Price.Com. Available From: http://oilprice.com/Alternative-Energy/Renewable-Energy/Afghanistans-Landscape-is-Perfect-for-Renewable-Energy.html. [Accessed November 20, 2012].

SCPR (2012). Lack of electricity dims Afghan economic prospects. South Carolina Public Radio. Available from: http://www.scpr.org/news/2012/07/02/33065/lack-of-electricity-dims-afghan-economic-prospects/. [Accessed November 20, 2012].

World Bank (2011). Doing Business – Economy Rankings. The World Bank. Available from: http://www.doingbusiness.org/rankings. [Accessed November 20, 2012].

World Bank (2012). Political Risk Services International Country Risk Guide (PRS). World Bank. Available from: http://info.worldbank.org/governance/wgi/pdf/PRS.xls. [Accessed November 20, 2012].

WSJ (2012). Afghan fears U.S pull out will unplug key projects. The Wall Street Journal. Available from: http://online.wsj.com/article/SB10001424052702303292204577517010577141868.html. [Accessed November 20, 2012].

8.4 Coverages This report gives detailed information on Afghanistan’s power market. It examines the country’s power market’s structure and provides historical numbers and forecast numbers on power generation, capacity and consumption up to 2030. The report provides insights on the market’s regulatory structure, import and export trends, competitive landscape and leading active and upcoming power projects. The report also provides a snapshot of the country’s power sector, analyzing the power sector of the country on six broad parameters – macro economic factors, supply security, generation infrastructure, transmission infrastructure, degree of competition, regulatory scenario and potential. Each parameter has a weight assigned, and a weighted average score is calculated to obtain the country’s ranking in the region.

8.5 GlobalData’s Methodology GlobalData’s dedicated research and analysis teams consist of experienced professionals with backgrounds in marketing, market research and consulting in the power industry, and advanced statistical expertise.

GlobalData adheres to the codes of practice of the Market Research Society (www.mrs.org.uk) and the Strategic and Competitive Intelligence Professionals (www.scip.org).

The following research methodology is followed for all country outlook reports.

8.5.1 Secondary research and analysis The capacity, generation and consumption data is collected and validated using a number of secondary resources including but not limited to:

Government agencies, ministerial websites, industry associations, the World Bank, statistical databases

Company websites, annual reports, financial reports, broker reports and investor presentations

Industry trade journals, market reports and other literature

Globaldata’s proprietary databases like the Capacity and Generation Database, Power Plant Database and Transmission and Distribution Database.




Further to this, the following secondary information is collected and analyzed to project the country’s power market scenario through to 2030, analyzing factors such as the following:

The country’s macro-economic scenario

Government regulations, policies and targets

Government and private sector investments

Contract and deal announcements

Utility expansion plans

The sector’s historic track record

Other qualitative insights built through secondary research and analysis of company websites, annual reports, investor presentations, industry and trade journals, and data from industry associations.

8.5.2 Primary Research and Analysis Secondary research is further complemented through primary interviews with industry participants to verify and fine-tune the market numbers obtained through secondary research and get first-hand information on industry trends.

The participants are drawn from a diverse set of backgrounds, including equipment manufacturers, industry associations, government bodies, utilities, distributors, and academia. The participants include, but are not limited to, C-level executives, industry consultants, academic experts, business development and sales managers, purchasing managers, plant managers, government officials, and industry spokespeople.

8.7 Disclaimer All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publisher, GlobalData.

This report is a licensed product and should not to be reproduced without prior permission.

market trends, regulation and competitive landscape · the report starts with an executive summary...

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