Albany - NY, July 29, 2015 (GLOBE NEWSWIRE) -- Transparency Market Research has released a new market report titled Turbine Inlet Cooling Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2022. According to this report, 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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The report on the turbine inlet cooling systems market primarily focuses on inlet fogging and wet compression technologies. Low operating and maintenance cost along with significant increase in plant efficiency has driven the demand for these systems. Of the two technologies, inlet fogging is more common and is utilized in a large number of gas turbines worldwide. Companies such as Mee Industries Inc., Caldwell Energy and others have pioneered the inlet cooling technology and provide complete inlet cooling packages to augment plant output. Increasing incidents of power shortages due to the drop in turbine efficiencies, especially during the summer season, compel power companies to install turbine inlet cooling systems. The number of inlet fogging systems are further expected to grow on account of increasing adoption of gas-fired power plants globally in the near future. As the number of gas-fired power plants increases, the demand for gas turbine and hence the gas turbine inlet cooling systems would increase. The installation of turbine inlet cooling systems assists the plat owners/operators to augment plant output.
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Inlet fogging is one of the most widely used methods of turbine inlet cooling. Inlet fogging systems are easy to install and low cost as compared to other turbine inlet cooling technologies. Decrease in the output of gas turbines, especially during the summer seasons, has made power companies to retrofit their turbines with inlet fogging systems. Utilization of fogging systems increases the turbine output by nearly 10%, making it one of the most effective turbine inlet cooling technologies. Currently, turbine inlet fogging systems are installed in hundreds of gas turbines all over the world. Mee Industries, Inc. is one of the major provider of turbine inlet fogging systems and supplies its inlet cooling solutions globally.
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Similar to inlet fogging, wet compression is also an evaporative cooling technology. Wet compression is a complementary technology utilized to provide added benefits to the existing evaporative cooling technologies. In wet compression more fog is added. The air containing the excess of fog enters the compressor in the combustion turbine, where droplets are evaporated which leads to cooling of air and increase in air mass. However, it is a relatively newer technology and is costlier than inlet fogging.
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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 a slightly greater preference for inlet fogging installations.
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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 Pacific
Rest of the World
- GCC Countries
- Other countries in Rest of the World
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Source:Transparency Market Research