Slightly improved sentiment in challenging power generation markets
Power generation market activity was stable in the first quarter of 2016. In the emerging markets, growth in electricity demand supported power plant investments, while demand continued to be more limited in the industrialised world. The competitive environment remained challenging, as excess manufacturing capacity has caused engine manufacturers to focus more on the power plant sector. Wärtsilä’s power plant quotation activity was satisfactory in the first quarter of 2016, and remained concentrated on multi-fuel and natural gas based installations.
Energy Solutions market share
In 2015, global orders for natural gas and liquid fuel power plants of up to 500 MW totalled 29.5 GW (23.4), an increase of 26% from the previous year. Wärtsilä’s market share was 8.3% (10.7). The growth in market volumes came primarily from a handful of large orders from China and Iraq, with combined project sizes of over 500 MW. Global orders include all gas turbine and Wärtsilä orders with prime movers over 5 MW in size.