Industry Analysis & Industry Trends
The industry has grown weakly over the past five years. Revenue is estimated to grow at a compound annual rate of 1% over the five years through 2015-16. The replacement of coal- and oil-fired power stations with new gas-fired plants and renewable technologies positively influenced demand for new turbines and related parts. Meanwhile, demand for engines used for industrial applications remained stable as industrial firms upgraded to more energy-efficient technologies in order to cope with rapidly increasing energy prices during many years. Demand for parts was also positively influenced as some firms chose to repair existing equipment instead of purchasing replacements due to expenditure budgets remaining under pressure as a result of the prolonged effects of the economic downturn... purchase to read more
Industry Report - Starting a New Business Chapter
The industry has medium barriers to entry due to the significant amount of capital required to start a business, the need to secure skilled labour and strict compliance requirements set out by governments. Depending on the size of operations, start-up capital can vary but is generally high for large-scale production sites. Securing finance for a new business with high start-up costs may be difficult in a tight credit market or if industry risks are high.
Industry operations require skilled staff in the fields of engineering, design, production and management. The industry invests a great deal of time and money in research and development. Professional and related workers perform much of the work, which focuses greatly on scientific research and development services. The.. purchase to read more