Renewable Energy Generation to Change the Steam Condenser Market

Aug. 21, 2012 - PRLog -- Oil, coal, gas, nuclear, biomass, and solar thermal power generation methods all use steam to create energy, but will the market for steam condensers be affected by the drive for renewable power generation, asks a new report by energy experts GlobalData.

The new report, "Steam Condensers for Thermal Power Plants - Market Size, Average Pricing and Key Regulations to 2020", studies the demand for these machines in the thermal power sector. This equipment finds use not only in power plants, but also in refineries, chemical processing plants and other industries.

Global electricity consumption has increased at a Compound Annual Growth Rate (CAGR) of 3.6% over the past 10 years, and is expected to continue growing due to increasing industrialization, urbanization, and growing population worldwide. Developed and developing countries are strengthening their electricity supplies in order to meet this growing demand, and thermal power is expected to remain a dominant source of electricity generation for the foreseeable future, which is expected to sustain the future global steam condenser market.

But as the share of alternative energy sources is set to increase, the decreasing share held by fossil fuels will impact the need for steam condensers used in thermal power plants, meaning that the steam condenser market may have to adapt to new popular methods of power generation.

Substantial increases in carbon emissions and environmental concerns have led to an increased focus on the reduction of emissions from the electricity sector. Many countries across the world are decommissioning coal-fired power plants, and various European Union (EU) directives, such as the Large Combustion Plant Directive (LCPD) and the Emission Trading Scheme (ETS) have made it uneconomical to continue with the operation of aging coal-fired power plants in EU countries.

Many countries now stipulate that a fixed percentage of electricity be generated from clean energy sources such as natural gas, hydro, and other renewable sources. In order to meet these targets, both developed and developing countries are investing in alternative fuels such as wind, solar, and hydropower.

For more information or to buy the report please visit http://www.marketreports.com