Top 3 Emerging Trends Impacting the Global Turbine Inlet Cooling Systems Market from 2017-2021: Technavio

Technavio has published a new report on the global turbine inlet cooling systems market from 2017-2021. (Photo: Business Wire)

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LONDON--()--Technavio’s latest report on the global turbine inlet cooling systems market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.

The research study by Technavio on the global turbine inlet cooling systems market for 2017-2021 provides a detailed industry analysis based on technology (mechanical chillers and inlet fogging) and geography (North America, Europe, APAC, and ROW).

Turbine inlet cooling systems help in improving the efficiency and performance of gas turbines. The global turbine inlet cooling systems market size is projected to grow to USD 10.82 billion by 2021, at a CAGR of close to 4% over the forecast period.

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The top three emerging trends driving the global turbine inlet cooling systems market according to Technavio heavy industry research analysts are:

  • Resurgence of nuclear power in Japan
  • Rise in distributed power generation
  • Stringent government regulations worldwide

Resurgence of nuclear power in Japan

“Japan is slowly diversifying its energy mix and adopting electricity generation from nuclear and renewable sources. This shift is to decarbonize and control environmental pollution and decrease dependence on imports,” says Anju Ajaykumar, a lead analyst at Technavio for unit operations research.

Japan was highly dependent on liquefied natural gas (LNG), oil, and coal imported from other countries to satisfy their power requirements. To decrease the dependence on external sources, the country restarted its nuclear reactors, thereby creating a high level of demand for turbine inlet cooling systems.

Rise in distributed power generation

There is a global shift towards integrated networks due to the increasing dependability of the distributed power generation systems. Distributed power technologies are characterized by high flexibility, capable of adapting to varied applications such as electric power, propulsion, and mechanical power. Gas turbines are an essential part of these distributed networks, which necessitates the adoption of turbine inlet cooling systems. Also, the expansion of natural gas distribution networks has led to the adoption of advanced technologies to transport natural gas, which is further boosting the demand for gas turbines.

Stringent government regulations worldwide

Governments all around the world are introducing regulations for climate change mitigation, which has increased the focus towards development of clean and efficient energy generation technologies. Turbine inlet cooling systems are widely adopted to enhance efficiency and curb emissions,” says Anju.

In 2015, the Clean Power Plan was introduced to reduce CO₂ emissions from power plants by up to 30% by 2030. In the same year, there was a universal agreement among the 195 member states of the UN Framework Convention on Climate Change to limit the global temperature rise below 35.6 °F in this century. Such measures have a positive impact on the improvement of technologies such as gas turbines, leading to an increase in their demand.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, resellers, and end-users.

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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com

Release Summary

Technavio’s latest report on the global turbine inlet cooling systems market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770
www.technavio.com