Turbine Inlet Cooling System Market size is expected to cross USD 10 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of turbine inlet cooling system was over USD 5 Billion. Both the rising global temperature and the growing need for electricity are contributing factors to the market revenue growth. The need for reliable and efficient power production system led to the development of turbine inlet cooling system, which boost the power output of gas turbines by improving their efficiency. Global final power consumption in 2019 was 22 848 TWh, up 1.7% from 2018. The final power consumption in OECD countries decreased by 1.1% to 9 672 TWh in 2019, whereas non-OECD countries saw a 3.8% growth in final electricity consumption to 13 176 TWh in 2018.
In addition to these, turbine intake cooling system are highly sought after in order to mitigate the detrimental impact of elevated temperatures on Gas Turbine performance. Elevated temperatures have the potential to decrease gas turbine power output and increase maintenance expenses. Installing turbine intake cooling system helps to increase the power output of gas turbines by lowering the temperature of the air entering the engine. As a result, emissions and fuel consumption are reduced while efficiency is raised.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
~ 5% |
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Base Year Market Size (2023) |
~ USD 5 Billion |
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Forecast Year Market Size (2036) |
~ USD 10 Billion |
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Regional Scope |
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Technology (Inlet Fogging, Chiller System, Evaporative Cooling, Mechanical Chillers, Fogging System, Wet Compression, Hybrid System, Absorption Cooling)
Based on technology, the inlet fogging segment in the turbine inlet cooling system market is attributed to hold the largest revenue share of about 30% during the forecast period. This method boosts the efficiency of the gas turbine by decreasing the air temperature and increasing the air mass flow rate. This technology is also affordable, easy to use, and safe for the environment. By dispersing fog droplets over the inlet air, inlet fogging devices raise the air density. It is among the evaporative cooling methods that are most frequently utilized. The advantages of this technology include low operating and maintenance costs and approval from all major turbine manufacturers. The need for fogging system at the inlet. It is anticipated that using turbine intake cooling technology will increase plant efficiency by up to 10%. It has been shown that installing turbine intake cooling system is more cost-effective than adding more turbines. Turbine intake cooling system are therefore becoming the preferred option for many power plant owners and operators.
End-Use (Power Generation, Oil & Gas, Chemical, Petrochemical, Food Processing)
Based on end-use, the power generation segment in the turbine inlet cooling system market is anticipated to hold largest revenue share of about 28% during the forecast period. The growing need for electricity globally, especially in emerging countries, has forced power production companies to focus on boosting the output and efficiency of gas turbines. One workable way to accomplish this is using turbine inlet cooling. Turbine inlet cooling system can also help power plants cut greenhouse gas emissions and meet environmental regulations.
Our in-depth analysis of the global turbine inlet cooling system market includes the following segments:
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Technology |
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Component |
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Application |
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End-User |
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North American Market Forecast
Turbine inlet cooling system market in the North America region is expected to hold the largest market share of about 32% during the forecast period. The region has a well-established industrial sector, and the power generation industry is growing rapidly. Turbine intake cooling devices can be used to boost the efficiency and production of gas turbines, especially during the hot summer months when demand is high. This region's growing requirement for consistent and effective power generation is driving up demand for turbine inlet cooling. In North America, the necessity for efficient power generation in nations like the US and Canada, coupled with strict pollution regulations, is what drives the need for gas turbines. As a result, in the next years, there will be a greater need for turbine inlet cooling system due to the growing usage of gas turbines. In 2021, 81% of North America's electricity was produced in the United States. About 20% of all electricity generated in the US in 2021 came from renewable energy sources, with the electric power industry accounting for roughly 59% of all renewable energy consumption in the US.
APAC Market Statistics
The turbine inlet cooling System market in the Asia Pacific region is projected to hold the second-largest market share of about 28% during the projected period. The region is experiencing tremendous economic growth as a result of large investments made in electricity generation and infrastructure development by nations like China and India. The region's turbine inlet cooling market is growing as a result of the accessibility of low-cost labor and the friendly policies of the local government, which are also attracting a lot of investors.
Author Credits: Payel Roy, Dhruv Bhatia
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