Press release
Steps Taken to Curb Pollution Levels to Boost Deployment of Turbine Inlet Cooling Systems across Power Plants.
However, as per a lead TMR analyst, “Spurt in growth is expected in the forthcoming years, as smaller players engage in cut-throat competition to increase their share in the global market.” TMR projects the global turbine inlet cooling systems market to exhibit a CAGR of 6% between 2013 and 2022. The market stood at US$7.85 bn in 2013 and is expected to reach US$13.17 bn by the end of 2022.
By technology, the mechanical chillers segment will continue dominating the market through the forecast period. It held over 86.84% of the market’s overall revenue share based on technology in 2013. Regionally, the pace of gains witnessed in North America will continue remaining higher through the forecast period. The region held over 44.92% share in the global market based on revenue in 2013.
Diverse Benefits Offered to Power Plant Owner to Fuel Demand for Turbine Inlet Cooling Systems
Deploying turbine inlet cooling systems offers both environmental and economic benefits to the power plant owners. Installing chilling, fogging, and wet compression systems will enable industries benefit from better capacity utilization of gas turbines. Besides this, the power plant owners will also enjoy economic benefits such as increased power generation, better predictability of power output, reduced capital cost per unit, and lower fuel consumption.
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In addition, the market also sees opportunity in the increasing adoption of gas-fired power plants. With environmental concerns soaring high across the world, power plant owners are taking that extra step to curb the rising pollution levels. Natural gas has inevitably emerged an indispensable source of fuel for power plants. Thus with the increase in the number of gas fired power plants, the demand for turbine inlet cooling systems is expected to rise. Furthermore turbine inlet cooling systems help minimizing power outages during peak loads.
Shortcomings Present in Turbine Inlet Cooling Systems to Limit their Uptake
Despite the diverse benefits provided by turbine inlet cooling systems, manufacturers are yet to mitigate a few shortcomings integral to their operations. For instance, the effectiveness of fogging systems decline when exposed to increasing humidity. This often compels plant owners to shift towards more effective solutions such as hybrid solutions and chillers. The threat from other options of inlet cooling such as hybrid systems is thus increasing, which is subsequently hampering the market’s growth.
Nevertheless, the market is projected to gain from decentralization of power generation. Micro-turbines provides decentralized power generation, which makes them insulated against power blackouts and outages. The deployment of such turbines are projected to rise in the coming years, creating lucrative prospects for the global turbine inlet cooling systems market.
The report segments the global turbine inlet cooling systems market as:
Global Turbine Inlet Cooling Systems Market, by Technology:
Inlet Fogging Systems
Mechanical Chillers
Wet Compression Systems
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Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
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