Turbine Inlet Cooling Systems Market 2014 – 2022
The global revenue for turbine inlet cooling systems stood at USD 1,033.7 million in 2013 and is expected to reach USD 1,787.0 million by 2022 at a CAGR of 6.4% from 2014 to 2022.
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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 the 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 inlet fogging and wet compression systems in the region.
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A large number of gas turbine installations in regions such as Europe and North America has attracted numerous gas turbine inlet cooling system manufacturers. Both inlet fogging and wet compression are mainly confined to hotter areas with less humidity in the region. Besides Europe and North America, both Asia Pacific and RoW are expected to contribute towards the demand for turbine inlet cooling systems. 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 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 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:
The global market for inlet cooling systems has been segmented as follows:
Turbine Inlet Cooling Systems Market: Technology Analysis
- Inlet Fogging
- Wet Compression
Turbine Inlet Cooling Systems Market: Regional Analysis
- Rest of North America
- Rest of Europe
- Rest of Asia Pacifi
Rest of the World
- GCC Countries
- Other countries in Rest of the World
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