The rising demand for power and energy globally has increased the number of new gas turbines. This increasing installation rate is expected to impact the demand for turbine inlet cooling systems directly. Additionally, the rising demand for power and energy and social concerns such as energy conservation drive players to focus on reducing energy losses and implementing turbine inlet cooling systems. The growth in the requirement for gas turbines in the energy and power industry is expected to greatly impact the gas turbine inlet cooling systems market, especially in hot climates. Further, the increased adoption of gas-fired power plants increases the requirement for turbine inlet cooling systems.
MARKET SCOPE
The "Global Turbine Inlet Cooling System Market Analysis to 2028" is a specialized and in-depth study of the manufacturing and construction industry with a special focus on global market trend analysis. The report aims to provide an overview of the steam condenser for the thermal power plant market with detailed market segmentation by technology, component, application, and geography. The global turbine inlet cooling system market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading turbine inlet cooling system market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
The global turbine inlet cooling system market is segmented by technology, component, and application.
- On the basis of technology, the market is segmented into Mechanical Chillers, Evaporation System, Fogging System, Wet Compression, Hybrid Systems, Absorption Cooling.
- On the basis of component, the market is segmented into Chillers, Inlet Coils, Pump, Cooling Tower, Thermal Energy Storage (TES) tank, Air Cooled Heat Exchanger.
- On the basis of application, the market is segmented into CT Plant, Industrial, Others
MARKET DYNAMICS
Drivers-
- the increased adoption of gas-fired power plants increases the requirement for turbine inlet cooling systems.
Restrains
- However, the cost factor and economic downturns globally may restrain the turbine inlet cooling system market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The automotive connector's market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the automotive connector's market in these regions.
IMPACT OF COVID-19
The outbreak of COVID-19 that started in China had a huge impact on the global economy in many ways. The COVID-19 pandemic has significantly impacted the energy sector as the industry faces several obstacles causing the demand for electricity to drop, particularly in the industrial and commercial sectors. Furthermore, the global renewable energy industry is also negatively affected due to this pandemic as most countries depend on other countries to import and export raw materials and components required to start renewable energy generation. However, power Generation is one of the biggest businesses globally. Big companies like ACWAPower or Engie are focused on investing in power generation, but the number of small Independent Power Producers is also rising. One of the most preferred technologies for power generation is Gas Turbines Power Plants in both open and combined cycle configurations. Additionally, the ASHRAE Design Guide for combustion turbine inlet cooling reflects the progress in the combustion turbine inlet cooling (CTIC) field in the last two decades. Thus, it will help the market in aiding or recovering from the covid-19 disruptions.
MARKET PLAYERS
The reports cover key developments in the turbine inlet cooling system market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions and partnership & collaborations. These activities have paved the way for the expansion of business and customer base of market players. The market players from turbine inlet cooling system market are anticipated to lucrative growth opportunities in the future with the rising demand for turbine inlet cooling system in the global market. Below mentioned is the list of few companies engaged in the turbine inlet cooling system market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the turbine inlet cooling system market. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of the last three years, the key development in the past five years.
- Johnson Controls
- Mee Industries
- TAS Turbine Inlet Chilling
- Mitsubishi Heavy Industries
- Güntner
- Stellar Energy
- Caldwell Energy
- Camfil
- Donaldson
- ARANER