Steam Condenser Market: Introduction
Steam condenser is a heat transfer device used to condense vapors to the liquid state. It is a device in which heat released by stem is absorbed by the water and collected at bottom. Steam condensers are heat exchangers that are available in various capacities, sizes, and designs. Steam condensers vary from small to large in terms of capacity, depending upon the requirement in industrial applications. Steam condensers are widely used for air conditioning applications. There are two types of steam condensers: jet condenser and surface condenser. In a jet condenser, cooling water is sprayed on exhaust steam for rapid condensation. The exhaust steam comes in direct contact with the sprayed water. The temperature of condensate water and sprayed water provide the same temperature. In the surface condenser, the exhaust steam and cooling water do not come in direct contact. The cooling water travels through the pipelines, and exhaust steam is released on the pipe to cool down and release heat energy.
Steam Condenser Market: Trends & Demands
Increase in use of steam in oil, coal, gas, and thermal power plants for the production of electricity, energy, and power is anticipated to boost the global steam condenser market during the forecast period. Steam condensers are widely used in every power plant due to the high requirement for refrigeration. They are also used in several industries to carry out definite chemical processes at a certain temperature. Rapid development projects for power and electricity generation are likely to fuel the demand for steam condensers in the next few years. The condensed fluid collected from stem condenser is considered hazardous to the environment. However, shift in trend toward the adoption of renewable energy resources is estimated to hamper the global steam condenser market during the forecast period.
Steam Condenser Market: Segmentation
Based on equipment type, the global steam condenser market can be bifurcated into jet condenser and surface condenser. The surface condenser segment is projected to account for dominant share of the global steam condenser market during the forecast period. Lack of impurities in condensate water and low power requirement are expected to fuel the demand for steam condensers during the forecast period.
Based on end-user industry, the global steam condenser market can be segregated into power generation plant, chemical processing facility, refinery industry, HVAC, and others. The power generation plant segment is expected to constitute major share of the global stem condenser market during the forecast period. Large use of steam and turbines in the production of energy and electricity is likely to propel the demand for steam condensers during the forecast period.
Steam Condenser Market: Region-wise Outlook
Based on region, the global steam condenser market can be split into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of revenue, North America is expected to hold major share of the global steam condenser market during the forecast period. Prominent presence of power plants across the U.S. is anticipated to propel demand for steam condensers in the next few years. Large numbers of power plants are located in Europe. This coupled with implementation of stringent regulations for water conservation is projected to augment the demand for steam condensers in the region in the next few years. Increase in requirement for refrigeration in several industries is also estimated to boost the steam condenser market in Europe. Latin America and Middle East & Africa are anticipated to account for lower share of the market vis-à-vis North America.
Steam Condenser Market: Key Players
Large numbers of companies operate in the global steam condenser market. Prominent manufacturers of steam condensers include Larsen & Turbo Ltd., Ambassador Heat Transfer Company, Foster Wheeler, and General Electric.
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