Seawater Condensers Market Forecast and CAGR
According to latest research by Fact.MR., seawater condenser market is set to witness steady growth during 2021-2031. Demand is expected to be on encouraging note, with optimistic growth outlook in the long-run. Muted demand from power and Desalination industry will turn as opportunities in near future.
What is Driving Demand for Seawater Condensers?
A significant growth in investments by various regional governments to develop and improve power transmission and distribution networks has been witnessed, with a number of projects planned for expanding the power generation capacity, as seawater condensers in mostly used in power generation plants.
Due to the increasing environment regulations owing to the global climate change, old power plants generating power from non-renewable energy sources have to be converted into renewable power generation or shifted away from residential areas. As a result, efforts towards conservation and power generation plants are expected to drive the demand for seawater condensers across the globe.
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Initiatives by the Government are Likely to Augment Demand
Agencies such as the European Water Association (Europe), India Water Works Association (India), and the Environmental Protection Agency (U.S.A), among several other government authorities, are proactively engaged in framing policies and regulations related to marine projects for disposal or reuse purposes. For instance, in the U.S., the EPA (Environmental Protection Agency) has made it mandatory for industries to treat water before it is disposed out of the facility. Specifications pertaining to maximum permissible contamination levels have been framed in this regard.
Moreover, stringent government regulations have been put in place for the development of water projects to generate power, treat water waste, stoppage of exploitation of deposits, treatment of dischargeable water and others.These industrial water and wastewater projects will directly influence the growth of the Seawater Condenser Market.
Americas Demand Outlook
Seawater desalination technology is making great strides in many arid areas of the region of Americas. The tidal based power generation industry in the North America region has grown significantly in the recent past, also increasing renewable capacities is the region is expected to help in the growth of seawater condensers. U.S. is expected to lead the regional market forefront followed by Canada.
Whereas, Latin America region is focused on providing more electricity across countries such as Brazil, Mexico, Argentina and many more. Owing to this the seawater condenser market is expected to gain traction in the region. Hence Latin America seawater condenser market is also anticipated to grow in the region.
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Market Outlook of Europe
The region has shown an accelerating inclination towards renewable energy, thereby, creating demand for new installation of energy network or refurbishing the existing grid with new assets. Henceforth, creating market space for seawater condenser.
In 2019, about one fourth of the global PV installation happened in Europe. Europe had 145.4 GW of installed solar power by the end of 2019, with 129.8 GW installed in the European Union. Germany is still the region’s largest market with 49.9 GW, followed by Italy at 20.9 GW, the United Kingdom with 13.3 GW among others.
By 2018, the cumulative installed wind energy capacity of Europe was about 381,400.0 MW - one-third of the global capacity.
Who are the Key Manufacturers and Suppliers of Seawater Condenser?
Some of the leading manufacturers and suppliers of includes
- Alfa Laval
- Titanium Tantalum Products Limited
- Carrier Company
- Universal Hydraulik
- Bronswerk Heat Transfer
- WUXI NEW WUHUAN ENERGY SAVING TECHNOLOGY
- WUHAN QIAOXIN REFRIGERATION EQUIPMENT
An Adaptive Approach to Modern-day Research Needs
Seawater Condensers Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
Market segment by capacity
- 0-50 kW
- 50-100 kW
- 100-150 kW
- 150-200 kW
Market segment by Refrigerant
Market segment by Application
Market segment by Installation
- New Fit
- Retro Fit
- North America
- Latin America
- South Asia &Pacific
- East Asia
- South Korea
- Middle East and Africa
- GCC Countries
- Northern Africa
- South Africa
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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