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MARKET DEVELOPMENT

In 2007, project activity for hydropower plant equipment developed very favorably. Due to the continued strong increase in electricity demand, several new hydropower plants are in the planning or construction phase, especially in India and China.

Investments in Europe and North America focused on modernization and rehabilitation, as well as on capacity increasing projects for existing plants. Due to the necessity of securing network stability, pumped storage systems also saw a continued high level of project activity.

Apart from investments by governmental institutions, private investments are also increasing in several countries. Typical examples are Turkey, where the new privatization law has driven local and foreign investors to start new projects, and Canada, where the private sector has become an essential driver of the hydropower development, especially in British Columbia.

The market for small-scale hydropower stations is also seeing a continued positive development. Additional drivers of this segment are the worldwide activities with respect to climate protection and the increase in the use of renewable energy sources.

The market for centrifugal pumps as well as for irrigation and drinking water pumps also showed a very solid development, especially in China. With its successful 60:40 joint venture Andritz-Kenflo in Foshan, Andritz has been the clear market leader in this region for some years now.

The investment activity of the European energy industry has started to increase considerably during the past few years. This trend is likely to continue, not only in the rehabilitation sector but also with regard to new plants, especially thermal power stations, with positive effects on the market for cooling water pumps.