The fast-growing power needs of emerging economies, the “nuclear renaissance,” and the push for more renewables are creating a booming worldwide market for new power generation facilities. Most opportunities, however, are outside the U.S., which is still suffering from a tepid economy and regulatory uncertainty. Photo: Courtesy of Black & Veatch The expansion of Indonesia’s Tanjung Jati B coal station reflects the continuing growth of coal projects in developing countries. Related Links: Overview: Finding Work in Tough Times View Complete Global Sourcebook with Rankings General Building: Firms Say World Market Is Thawing, Albeit Slowly Transportation: Asia Bright Light in Otherwise
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.