Turbine Inlet Cooling System Market Size

Turbine Inlet Cooling System Market size is predicted to reach USD 10 Billion by the end of 2036, growing at a CAGR of 5% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of turbine inlet cooling system was USD 5 Billion. The rising global temperature and the growing need for electricity are contributing factors to the market revenue growth.

The need for reliable and efficient power production system led to the development of turbine inlet cooling system, which boost the power output of gas turbines by improving their efficiency. Global final power consumption in 2019 was 22 848 TWh, up 1.7% from 2018. The final power consumption in OECD countries decreased by 1.1% to 9 672 TWh in 2019, whereas non-OECD countries saw a 3.8% growth in final electricity consumption to 13 176 TWh in 2018.

In addition to these, turbine inlet cooling system are highly sought after in order to mitigate the detrimental impact of elevated temperatures on Gas Turbine performance. High temperatures may reduce the power production of gas turbines and raise maintenance costs. By reducing the temperature of the air entering the engine, turbine inlet cooling system can assist gas turbines produce more power. As a result, efficiency increases and emissions and fuel consumption are decreased.