Steam Condenser Market

Steam Condenser Market Size (2023-2028):

The Global Steam Condenser Market size is estimated at US$ 17 million in 2022 and is anticipated to reach a valuation of US$ 22.66 million by 2028, growing at a CAGR of 4.44% during the forecast period 2023-2028.

A Steam Condenser is a heat transfer device that is used to condense vapors into liquids. A Steam Condenser is termed a device in which the heat emitted by steam is transformed into water drops and collected at the bottom using a cooling process. Heat exchangers, known as steam condensers, come in various sizes, capacities, and designs. Depending on the requirements of industrial processes, steam condensers range in capacity from modest to large. For example, steam condensers are commonly utilized in air conditioning systems. Jet condensers and surface condensers are the two types of steam condensers. Cooling water is sprayed on exhaust steam in a jet condenser to speed up condensation. The smoke from the exhaust comes into close touch with the water that has been distributed. Condensate water and sprayed water have the same temperature and provide the same amount of heat. However, the dissipated steam and cooling water do not come into direct contact with the surface condenser. Instead, the chilled water goes through the pipelines, and the moisture that has been consumed is released onto the pipe to cool it down and alleviate heat energy. 

Market Drivers:

During 2023 - 2028, an increase in steam usage in oil, gas, coal, and thermal power plants to produce electricity, energy, and power is likely to boost the worldwide steam condenser market. Because of the significant demand for cooling, steam condensers are widely employed in all power plants. In addition, several companies utilize steam condensers to carry out specific chemical operations at a particular temperature. In the coming years, rapid development projects for power and electricity generation are projected to propel the steam condenser ultimatum. However, the condensed liquid collected from the steam condenser is environmentally harmful. The use of steam in many end-user sectors, such as thermal power plants, oil and gas industries, and others, has increased due to the rapid growth in development around the globe. As a result, demand for steam condensers has increased in the market. For example, these mechanical devices are widely employed for refrigeration solutions in a variety of power plants.

Furthermore, a specific temperature is required for the approval of certain industrial chemical processes. In the coming years, rapid development projects for power and electricity generation are projected to propel the steam condenser ultimatum. The condensed liquid collected from the steam condenser is environmentally harmful. During the forecast period, however, the worldwide steam condenser market is expected to be hampered by a shift toward adopting renewable energy resources.

Market Restraints:

During the forecast period, however, the worldwide steam condenser market is expected to be hampered by a shift toward adopting renewable energy resources. However, the high cost of installation of these devices restricts the global steam condenser market expansion. Moreover, the cooling water and condensate are discharged in the same stream, and the condensate cannot be reused without water treatment. In addition, direct contact condensers, such as the jet condenser, have a low vacuum efficiency. These are the primary characteristics that hamper the global steam condenser market growth during the foreseen period.

STEAM CONDENSER MARKET REPORT COVERAGE:

Market Segmentation:

Steam Condenser Market - By Material:

• Jet Condenser
• Surface Condenser

Based on material, the surface condenser segment is expected to have a significant proportion of the worldwide steam condenser market during the projected period. During the projected period, demand for steam condensers is fueled by the lack of pollutants in condensate water and low power requirements. as well as to convert the turbine exhaust steam into pure water (referred to as steam condensate) so that it can be reused as boiler feed water in the steam generator or boiler.

Steam Condenser Market - By End User:

• Chemicals
• Power Plants
• Refinery
• Others

During the forecast period, the power plant sector is likely to account for a significant portion of the worldwide steam condenser market. During the projected period, excessive use of steam and turbines in generating energy and electricity is expected to drive demand for steam condensers. Moreover, Condensers improve the efficiency of a thermal power plant or a steam power plant by lowering the steam exhaust pressure below the atmospheric pressure. Another benefit of the condenser is that the condensed steam can be recovered to give the boiler a source of good clean feed water, which significantly reduces the water-softening plant's capacity.

Market Regional Analysis: 

The Global Steam Condenser Market Report includes the segmentation of Regions:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

The North American region tends to have the largest share in the global steam condenser market during the forecast period. The widespread presence of power plants in the United States is expected to drive demand for steam condensers in the coming years.

The Europe region comprises a large number of power plants. This, combined with stringent water conservation measures, is expected to increase the demand for steam condensers in the area in the following years. Furthermore, the steam condenser market in Europe is expected to grow due to an increase in the need for refrigeration in various sectors.

Due to rapid industrial development and an increase in the number of power plants in the region's rising nations, Asia-Pacific owns a substantial part of the worldwide steam condenses market.

Impact of COVID-19 on the Steam Condenser Market:

The Coronavirus, frequently known as COVID-19, has significantly impacted the global steam condenser business. Following the introduction of the worldwide pandemic, most manufacturing facilities were forced to reduce or even cease operations as governments throughout the world implemented coast-to-coast lockdowns to contain the virus. This has significantly reduced steam application condenses across various manufacturing sectors, harming global steam condenser market growth.

Market Key Players:

The companies covered in the report include:

1. GEA
2. Larsen and Turbo Limited
3. Siemens
4. Power Zone Equipment, Inc.
5. Mitsubishi Heavy Industries (MHI)
6. Marky Thermal Systems
7. Alfa Laval
8. S.A.HAMON
9. Foster Wheeler AG
10. J.D.Cousins, Inc
11. SPX Heat Transfer
12. Tri-Power Energy Systems

Market Recent Developments:

• On 8th June 2017, Siemens announced that it had been awarded a contract to supply leading equipment for a steam power plant developed in the desert near Attarat Um Ghudranin Jordan by China Energy Engineering Group Guangdong Power Engineering.
• Mitsubishi Heavy Industries announced that it is going to introduce condensing-type steam turbines.