2014-02-14 17:18:03 - Global Steam Condenser Market for Thermal Power Plant 2012-2016 - a new market research report on companiesandmarkets.com
The Global Thermal Power Steam Condenser market is to grow at a CAGR of 6.25 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increased electricity consumption. The Global Steam Condenser market for Thermal Power Plant has also been witnessing the development of Clean Coal Technology (CCT). However, the increased investment in renewable energy sources could pose a challenge to the growth of this market.
Development of CCT is one of the major trends in the Global Steam Condenser market for Thermal Power Plant. Energy generation from fossil fuels such as coal leads to carbon emissions which negatively impact the environment. When coal is used as a fuel source in a thermal power
plant to generate steam, it emits several gases such as nitrogen dioxide, sulfur dioxide, carbon dioxide, and other chemical by-products. These emissions have a negative impact on the environment and contribute to acid rain and climate change. As a result, CCT is being developed to reduce the environmental pollutants generated in thermal power plants. CCT is a combination of technologies which is being developed to mitigate the environmental impact of coal-based energy generation. Several electric utility and non-utility generators are expected to adopt CCT in order to improve thermal power plant efficiency. Also, CCT helps electricity generators to reduce carbon emissions, which is expected to drive the demand for steam condensers during the forecast period.
The increase in consumption of electricity is one of the major factors that is driving the growth of the Global Steam Condenser Market for Thermal Power Plants. Several developed and developing countries such as India, China, Japan, Brazil, and Taiwan are going through an industrialization phase. Hence, the governments of these countries are focusing more on strengthening their power capacity by setting up several thermal power plants in order to meet the demand for electricity. This is leading to increasing demand for steam condensers for thermal power plants across the globe.
A major challenge in the Global Steam Condenser market for Thermal Power Plant is the increase in investment in renewable energy sources. The governments of several developed and developing countries have been implementing various initiatives in order to reduce GHG emissions.
The key vendors dominating this market space include Foster GE Co., Larsen & Toubro Ltd., and Wheeler AG. The other vendors mentioned in the report are Graham Corp., GEA Group AG, JD Cousins Inc., and SPX Heat Transfer LLC.
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