Albany, NY -- (SBWIRE) -- 10/05/2017 -- The Indonesia power generation market is expected to reach US$63.6 bn by the end of 2022. This market was recorded at US$14.1 bn in 2013 and is projected to expand at an 18.70% CAGR within a forecast period from 2014 to 2022, as stated in a research report released by Transparency Market Research. The report, titled "Power Generation Market - Indonesia Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022," provides a clear picture of this market's future in terms of opportunities for expansion and investment, as well as a map of drivers and restraints that can be negotiated with.
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According to the report, the Indonesia power generation market is expanding at a CAGR of 8.50% within the given forecast period, in terms of generation capacity. The power generation totaled 44.4 GW in 2013 and is expected to reach 90.1 GW by 2022.
The report states that the primary driver of the Indonesia power generation market is the constantly increasing demand for power in the region. As per findings, the demand for electricity in Indonesia is expected to grow from 206.5 TWh in 2013 to a projected 2022 value of 442.5 TWh, exhibiting a CAGR of 9.10% in the given forecast period.
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The Indonesia power generation market has been segmented to improve user perspective. It is segmented on the basis of the technology used into combined cycle power generation, hydro power generation, geothermal power generation, oil-fired power generation, natural gas-fired power generation, and coal-fired power generation. Of these, the Indonesia power generation market was led by coal-fired power generation technology in 2013, when it was used to generate nearly 54% of the overall electricity in the region. The report's authors expect this segment to retain its leading position throughout the forecast period.
The report also provides details on the initiatives taken by the government of Indonesia for cutting down greenhouse gas emissions and to use renewable energy sources, especially geothermal power. Indonesia has kept a target of 5.0 GW of geothermal energy to be added to its overall capacity by 2025. 1.6 GW of geothermal energy was harnessed in 2013, while the region currently houses a total potential of 28.0 GW from geothermal sources.
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The report also provides a detailed view of the competitive landscape of the Indonesia power generation market. The country had stated a target of doubling its power generation by the end of 2020. This has caused a significant rise in generation and consumption rates in the recent years. The government has also modified its investment structure to suit its energy generation target. This has also given rise to a large number of private players entering the Indonesia power generation market.
The key players in the Indonesia power generation market include PT Indonesia Power, United Coal Indonesia, PT Jawa Power, Siemens AG, PT Wartsila Indonesia, PT Geo Dipa Energi, PT Harum Energy Tbk., Chevron Indonesia, PT Bumi Resources Tbk., PT Cirebon Electric Power, Hyundai Engineering Co. Ltd., PT Pembangkitan Jawa-Bali, PT Pertamina Geothermal Energy, PT Adaro Energy Tbk., Mitsubishi Heavy Industries Ltd., PT Arutmin Indonesia, Asia Resource Minerals plc., and Medco Power Indonesia.
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