SOURCE: Industrial Info Resources

Industrial Info Resources

November 26, 2013 06:15 ET

Industrial Info Market Outlook Shows Changing Spending Patterns in Power Industry

SUGAR LAND, TX--(Marketwired - Nov 26, 2013) - Researched by Industrial Info Resources (Sugar Land, Texas) -- At Industrial Info's recent 2014 Market Outlook in Baton Rouge, industry experts discussed the market drivers and trends that are changing spending patterns in the Power Industry and other industries.

"The strongest amount of proposed power spending is without a doubt for wind projects, although these include some of the large offshore facilities that are facing challenges from permitting problems and pushback from the public," says Brock Ramey, Industrial Info's manager of research for the North American Power Industry. "The other major spending element is for natural gas-fired power projects."

Industrial Info is tracking about $29.5 billion in planned spending for 250 natural gas-fired power projects (capital and maintenance) that are planned to kick off next year in the U.S. There is a strong concentration of natural gas-fired projects in the eastern and northeastern United States. The Mid-Atlantic and Northeast market regions have more than $9.6 billion in planned natural gas-fired project starts.

"This area is obviously in a prime position to take advantage of the increasing production of natural gas coming from the Marcellus Shale," says Ramey. "Power companies are jumping at the chance to take advantage of this cheap gas, particularly as many of the coal-fired units in the area are facing the choice of substantial environmental spending or retirement. Pennsylvania, Virginia and Maryland are home to some of the nation's largest planned natural gas-fired projects."

Industrial Info's complementary 2014 Market Outlook Presentation in Washington, D.C., will be held at the Ritz-Carlton on December 3, and will discuss these and other Power Industry projects, as well as spending in the Oil & Gas, Petroleum Refining, Metals & Minerals, and Chemical Processing industries. The outlook will cover market drivers and spending in the U.S. and Canada in 2014, with a special emphasis on the U.S. Mid-Atlantic region.

A networking event follows the presentation, allowing you to enjoy cocktails and hors d'oevres as you speak with our industry experts and your peers. Space is limited, so make sure to RSVP today!

Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, three offices in North America and nine international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. To contact an office in your area, visit the www.industrialinfo.com "Contact Us" page.

Contact Information

  • Contact:
    Joe Govreau
    (713) 783-5147