The
global revenue for turbine inlet cooling systems stood at US$7.8 bn
in 2013 and is expected to reach US$13.1 bn by 2022, at a CAGR of 6%
from 2014 to 2022.
In-depth
research report on Turbine Inlet Cooling Systems Market
with Full TOC at :
http://www.transparencymarketresearch.com/turbine-inlet-cooling-market.html
Global
demand for gas turbines is expected to increase in the near future on
account of rising demand for cleaner and efficient power. Global gas
turbine installations are expected to have a direct impact on the
demand for turbine inlet cooling systems. The ability of mechanical
chillers, inlet fogging, and wet compression systems to augment plant
output economically makes them perfect for application in gas
turbines.
North
America emerged as the largest market for turbine inlet cooling
systems in 2013. North America includes some of the largest power
producers such as the U.S., Canada, and Mexico. The share of natural
gas power production has increased in the region, as both Mexico and
the U.S. have started to incorporate natural gas in their energy mix.
The construction of new gas-fired power plants in the region is
expected to boost the demand for gas turbine inlet cooling systems.
The hot and dry climatic conditions in Mexico and the southern and
central part of the U.S. are responsible for the considerable drop in
plant efficiencies. The intake of less dense air during the hot
weather conditions affects plant efficiency. The significant drop in
power efficiencies during summer season coupled with surge in power
demand has resulted in higher adoption of turbine inlet cooling
systems in the region.
A
large number of gas turbine installations in regions such as Europe
and North America have attracted numerous gas turbine inlet cooling
system manufacturers. Both inlet fogging and wet compression are
primarily confined to hotter areas with less humidity, whereas
mechanical chillers can be used anywhere irrespective of the climate.
Besides Europe and North America, both Asia Pacific and RoW are
expected to contribute towards the demand for turbine inlet cooling
systems in the near future. RoW comprises countries with hot
climates. Decline in the output of the power plant is common in
countries such as Qatar and Iran. As a result, demand for turbine
inlet cooling systems is higher in the region. Asia Pacific has
emerged as one of the fastest growing markets for turbine inlet
cooling systems. Asia Pacific consists of some of the fastest growing
economies of the world. Industrial expansion and substantial growth
in construction activities have intensified the demand for
electricity. However, due to increase in demand for electricity,
power cuts and shortages are becoming more common in the region. As a
result, power producers are expected to opt for low cost options (as
compared to capacity additions) such as mechanical chillers, inlet
fogging, and wet compression systems.
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Key
participants in the global turbine inlet cooling systems market
include American Moistening Company Inc., Caldwell Energy Company
Inc., Cat Pumps Inc., Humifrio S.L., Mee Industries Inc., Score
Energy Limited, Siemens AG, UTC Technologies Company, Camfil AB, and
Baltec IES Pty. Ltd. This report provides an overview of these
companies, followed by their financial revenues, business strategies,
and recent developments. Overall, the investment outlook for the
turbine inlet cooling system market is anticipated to be positive
globally, with North America occupying the largest share throughout
the forecast period. The global market for inlet cooling systems has
been segmented as follows:
Turbine
Inlet Cooling Systems Market: Technology Analysis
- Inlet Fogging
- Mechanical Chillers
- Wet Compression
Turbine
Inlet Cooling Systems Market: Regional Analysis
North
America
- U.S.
- Rest of North America
Europe
- Turkey
- Italy
- Rest of Europe
Asia
Pacific
- China
- Japan
- Australia
Rest
of Asia Pacific
- Rest of the World
- GCC Countries
- Iran
- Other countries in Rest of the World
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