According to a recent market study published by Growth Market Reports, titled, “Global Surface Condenser Market, by Product, Mounting Type, Type of Water Box, Inlet Type, End-use, and Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 3,254.4 Million in 2022 and is anticipated to expand at a growth rate of 5.3% by 2031.

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A surface condenser, also known as a steam condenser, is a water-cooled shell and tube heat exchanger. The exhaust steam from the steam turbine in thermal power plants is condensed using a surface condenser. The steam is changed from a gaseous to a liquid form at a pressure lower than atmospheric pressure. Exhaust steam and cooling water are not mixed in steam surface condensers. In surface condensers, even impure water is used for cooling purpose, whereas, in jet condenser, pure cooling water is required. Surface condensers are popular, owing to their cheap operating costs and excellent plant thermal efficiency, despite their high initial cost. Surface condensers are often divided into many varieties based on the tube layout, condensate flow, and position of the condensate extraction pump.

The surface condenser market has been fragmented into product, mounting type, type of water box, inlet type, and end-user. On the basis of product, the market is segmented into down-flow surface condenser, central-flow surface condenser, regenerative surface condenser, and evaporative surface condenser. Based on mounting type, the global surface condenser market is categorized as vertical and horizontal. Based on type of water box, the market is categorized into divided water box and non-divided water box. On the basis of inlet type, the market is segmented into single inlet and multiple inlets. Based on end-use, the market is fragmented into power generation, chemical, oil & gas, and others. Based on region, the market is segmented into North America, Latin America, Europe, Asia Pacific, And Middle East & Africa.

Key factors that are anticipated to fuel the surface condensers market during the forecast period include increasing demand for energy and environmental & government regulations. Rapid urbanization and population growth are driving energy consumption across the globe. As the need of energy imposes strain on the current generation capacity of power plants resulting in the building of new ones necessary. Surface condensers play a crucial role in the power generation process by turning exhaust steam back into water. This increases the overall efficiency of power plants and the quantity of produced energy. Surface condensers are widely used in power generating units, which contributes to market expansion.

The Coronavirus disease 2019 (COVID-19) pandemic highlighted economic disparities, created global interdependence, and challenged various governments. Manufacturers of surface condensers faced high fluctuations in raw material supply during the pandemic. Manufacturing units were shut down during the pandemic, which restrained the market. This decreased the demand for various raw materials used to manufacture surface condensers. Furthermore, supply chain disruption led to delays in the production and delivery of surface condensers, thus affecting the overall market.

According to the Growth Market Reports industry analyst, Partha Paul, “surface condensers” are an essential component in end-use industries, such as power generation plants.

In ageing power generation plants, water usage and thermal discharge are essential for modernization. Regulations imposed by various regions with limitations on water withdrawal promoting efficient water usage, which influences the use of surface condensers over alternative cooling technologies with higher water consumption. Additionally, discharging thermal-used hot water from power plants into an ecosystem affects the aquatic ecosystem. Regulations often set thermal discharge limits, favoring the growth of the surface condenser market.

The market in Asia Pacific is expected to expand at a significant CAGR during the forecast period. Demand for energy in this region is driven by rapid industrialization and rising power sector. The governments in the region are driving market expansion by making significant investments in the construction of new power plants and other infrastructure. Surface condenser demand in the region is anticipated to increase during the projected period, due to the rising industrialization and need for power.

A supply chain is a network between a manufacturer and suppliers to produce and distribute a specific product to the final buyers. This network includes different people, regulatory bodies, entities, information, and resources. Various components are used to manufacture surface condensers. These components are procured from raw material suppliers and stored at warehouses or manufacturing sites. Raw materials are inspected to ensure their quality. Quality checks are performed throughout the production process by manufacturers to ensure the quality of the product. The finished products are then supplied to the distributors. Distributors store finished products in large inventories and are mediators in the supply chain. They directly obtain the products from the manufacturers and pass them midstream. End-users of surface condensers include power and energy generation and oil and gas industries.

Key Takeaways from the Study:

  • The players in the surface condenser market include ALFA LAVAL, Ambassador Heat Transfer, DongHwa Entec, ENERGYEN, General Electric, Xylem, Graham Corporation, HEAT-EX. TAEHWA CORPORATION, Jet Flow Technologies, Körting Hannover GmbH, KRUEGER ENG. & MFG. CO. INC., and Kelvion, which held a significant market share in 2022.

  • Based on mounting type, the surface condenser market is bifurcated into vertical surface condenser and horizontal surface condenser. Condenser tube thickness is lower in horizontal surface condenser than in vertical orientation. The effective heat transfer coefficient for horizontal surface condensers is large and offers high operational efficiency.

  • On the basis of water box, the surface condenser market is segmented into divided water box and non-divided water box. The intake and output water boxes of condensers are located at different ends and are split by partitions in a divided water box. This enables the condenser to run on half during the maintenance, while the other half is being serviced or cleaned. Backwashing is possible by division plate valves, which reverse the direction of water flow during cleaning. Large-scale end-use industries benefits greatly from the usage of these divided water box surface condensers.

  • Based on inlet type, the surface condenser market is segmented into single inlet and multiple inlet. The multiple inlet segment held significant market share in 2022 and is anticipated to expand at a considerable CAGR during the forecast period. Multi-inlet layout offers improved steam mixing and distribution, which enhances heat transfer efficiency and boosts power production. Additionally, multiple inlets enables steady flow, minimizes thermal strains inside the condenser, and improving dependability, thereby driving the segment.

  • On the basis of end-use, the market is categorized into into power generation, chemical, oil & gas, and others. Surface condensers are widely used in power generation plants, such as thermal power plants. The need to reduce water use in power plants encourages the use of steam condensers, due to their capacity to condense exhaust steam that is recycled back into the boiler. Growing focus of thermal power plants to boost the efficiency of plants boosts the market.

  • In terms of region, the surface condenser market is divided into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. The market in Asia Pacific is expected to expand at a CAGR of 6.2% during the forecast period, due to the high demand for surface condensers from various power generation plants, such as nuclear, geo thermal, and solar thermal. Emerging economies, such as India and China, are focusing on industrialization and investing heavily in such industries for power generation. Europe held a significant market share in 2022. The region's various power plants play a major role in the growing demand for energy consumption, which are mainly driven by nations like Germany, France, and the UK. These nations are highly investing in power industries, which boosts the demand for Surface condensers. Furthermore, the growing emphasis on renewable energy propels the demand for cutting-edge surface condensers.

Report Scope:

Report Metric

Details

Market Value in 2022

USD 3,254.4 Million

Market Growth Rate (from 2023 to 2031)

5.3%

Historical Data

2016 - 2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (US$ Million)

Market Segments

By Product, Mounting Type, Type of Water Box, Inlet Type, End-use, and Region

Key Companies Profiled

ALFA LAVAL, Ambassador Heat Transfer, DongHwa Entec, ENERGYEN, General Electric, Xylem, Graham Corporation, HEAT-EX. TAEHWA CORPORATION, Jet Flow Technologies, Körting Hannover GmbH, KRUEGER ENG. & MFG. CO. INC., and Kelvion

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail of tailor-made purchase options to meet your research requirements.

 

Target Audience:

  • Supply-side: Manufacturer and distributors.

  • Demand Side: Power generation, Chemical, Oil & Gas, Others

  • Regulatory Side: Concerned government authorities, and other approval regulatory bodies.

  • Associations and Industry Bodies: HTRS, ASME, IAES, HEI, WCI.