Technavio, a tech-focused market research firm, has published a new report on the global turbine inlet cooling systems market, which is expected to grow at a CAGR of close to 4% during the forecast period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global turbine inlet cooling systems market into the following key regions: APAC, Europe, North America, and ROW.
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Top three contributors for the global turbine inlet cooling systems market are elaborated below:
Turbine inlet cooling systems market in North America: North America has the presence of major vendors of turbine inlet cooling systems. The demand for gas turbines in North America is driven by stringent emission laws and the need for efficient power generation in countries such as the US and Canada.
According to Anju Ajaykumar, a lead analyst at Technavio, specializing in research on unit operations, “Instead of shutting down the existing coal-powered plants and building new ones, utilities are focusing on encouraging authorities of the existing coal-powered plants to use gas turbines. With an increase in the use of gas turbines, the demand for turbine inlet cooling systems will increase. Moreover, the construction of new power plants with gas turbines installed is also expected to propel the market growth.”
Turbine inlet cooling systems market in Europe: The turbine inlet cooling systems market is likely to grow during the forecast period. Combined Heat and Power (CHP) is one of the sources of energy in Europe, and its demand is expected to increase during the forecast period. CHP is embedded in most of the universities, hospitals, industries, residential buildings, and districts. Nearly 12% of the electricity was generated through cogeneration in Europe in 2013. Cogeneration is the production of heat and electricity simultaneously. With increased installation in cogeneration plants in Europe, the prospects for gas turbines is optimistic, which will fuel the turbine inlet cooling systems market.
Turbine inlet cooling systems in APAC: The growth potential of the gas turbine market in APAC is huge, especially in developing countries such as India and China. These emerging economies need efficient and reliable power to sustain their economic growth as well as to refrain from polluting the environment. Therefore, to curb carbon emissions and produce cleaner power compared with that of coal-powered plants these countries have started employing technologies such as CCGT. An increase in the demand for gas turbines is expected to propel the growth of the turbine inlet cooling systems market.
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The top vendors operating in the global turbine inlet cooling systems market are:
- American Moistening Company
- Baltec IES
- Caldwell Tanks
- Mee Industries
- Siemens
Other prominent vendors in the market include Camfil Power Systems, Johnson Controls, and Stellar Energy.
A more detailed analysis is available in the Technavio report titled, ‘Global Turbine Inlet Cooling Systems Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Wind Turbine Gearbox Market 2016-2020
- Global Combined Cycle Gas Turbine Market 2016-2020
- Global Aeroderivative Gas Turbine Market 2016-2020
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