Turbine Inlet Cooling Systems Market - Facts About Business Strategies & Financial Status over Forecast Period 2016-2024
The competitive trends in the global turbine inlet cooling systems market is influenced by diverse factors ranging from brand identification, market concentration of manufacturers to exit barriers. However, the market has remained relatively consolidated over the years, with companies such as Mee Industries Inc., TAS Energy Inc., Stellar Energy, Caldwell Energy Inc., Humifrio S.L., Siemens AG, UTC Technologies Company, and Baltec IES Pty. Ltd. together accounting for over 60% market share in 2013, states Transparency Market Research (TMR) in a new study. Given the scenario, the degree of competition prevailing in the market is relatively low.
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
About Us
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.
Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com
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.
View exclusive Global strategic Business report : http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5426
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
About Us
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.
Contact
Transparency Market Research
90 State Street, Suite 700
Albany, NY 12207
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com
Website: http://www.transparencymarketresearch.com