Asia’s Diverse Energy Needs Are Creating Large Market Opportunities

In order to take advantage of Asia’s energy market opportunities, vendors need to understand the region’s varying needs and regulations.
Published: Tue 30 Jun 2015

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In a live studio interview at Asian Utility Week, Ravi Krishnaswamy, Vice President for Energy and Environment, Frost and Sullivan, speaks about South East Asia’s energy market opportunities for vendors between now and 2020.

Meeting Asia’s diverse energy needs

Vendor opportunities, varying across the region, include critical infrastructure, renewables and customer engagement development. Unlike Europe, Asia is very diverse in terms of its geography and the developmental stages of the market, technology and generation.

Asia’s focus on clean energy

While the recognition and integration of renewable energy varies from country to country, there is a definite move towards clean energy. Mr Krishnaswamy expands on the current market developments in South East Asia and points specifically at the region’s recognition of renewable energy and distributed generation and its eagerness to develop these.

For Asia, there are three main drivers of renewable energy development:

  • Increasing electricity access which is stable and secure

  • Energy security

  • Technology-how technology drives the way in which plants are developed

Understanding the Asian energy market

Long delays in decision making are a major challenge for vendors so it is important for them to understand exactly what the customer requires. Companies must be able to work with clients and understand their requirements before starting a project, explains Mr Krishnaswamy. He adds that it is also important to understand each country’s regulations and set of requirements before entering the market. Many countries are attempting build local capabilities so it is recommended that vendors partner with locals in order to fully understand the market.

In conclusion, Mr Krishnaswamy recommends that utilities take a bigger interest in customer engagement before technologies such as energy storage batteries and solar panels take their place.