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The increasing demand for a secure power supply in emerging economies, inability involved in handling peak energy demand, and the extremely high emissions (often during hot weather conditions) are the major problems associated with the power industry. Significant growing emissions and the greenhouse effect adversely affects the temperature of the earth. This hot weather is altogether responsible for a direct impact on turbine efficiency, and the necessity for uneconomical peaker plants arises. Power augmentation is an appropriate and alternative approach which includes the turbine inlet cooling (TIC) technology, which enables the system to produce power at the rated capacity, and sometimes more than the rated capacity. The turbine inlet cooling technology increases the value of existing power generation assets and optimizes the output from new assets with immediate effect.
The turbine inlet cooling systems market is segmented into technology and geography. Based on technology, the market is segmented into inlet fogging, mechanical chillers, wet compression, others (hybrid systems, absorption cooling, LNG vaporization). The turbine inlet cooling systems are dominated by inlet fogging as it uses positive displacement pumps to pump demineralized water, has higher nozzle flow, and provides less maintenance, increased reliability, and longer service life.
Key Market Driver -
The necessity for generating efficient energy processes to fulfil the growing demand for energy
Key Market Restraint -
Stringent government regulations against thermal power plant
The need for generating efficient energy processes to fulfill the growing demand for energy drives the demand for turbine inlet cooling systems market during the forecast period. The increasing awareness and associated technical advantages of using cooling solutions in the turbine inlets also propel the demand for turbine inlet cooling systems. However, rising heat temperature of the globe necessitates the demand for turbine inlet cooling systems which holds a potential opportunity for the market during the forecast period.
The major players competing in the global turbine inlet cooling systems market are ARANER, Stellar Energy, American Moistening Co, Kiewit, Caldwell Energy Company, Mee Industries Inc., TAS Energy Inc., GE Power, Baltec IES, Siemens Energy, HUMIFRIO SL, and, Cat Pumps International.
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The turbine inlet cooling systems market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is dominating the turbine inlet cooling systems market owing to the capability of countries of high power generation supported by high duty infrastructure and rising trend of natural gas power production. Europe is the second-largest market share in the global market owing to a large number of gas turbine installations followed by Asia-Pacific and the Middle East and Africa region due to the growing need for the cooling system during high heat summers. Advancement in technology in turbine inlet cooling systems is changing at a faster pace which holds an ever-increasing opportunity in the global turbine inlet cooling systems market during the forecast period.
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