Feed Water Heater Market Is Driven By Rising Global Demand For Power And Energy
Water that is conveyed from a condenser or tank into a boiler for conversion into steam is referred to as feedwater. However, conveying water that has a considerably different temperature than that of the boiler can cause a thermal shock, which could cause cracks to form in the boiler, thus compromising its structural integrity. The demand for global feedwater heaters market for power plants stems largely from the improvement they afford to the overall thermodynamic efficiency of boiler systems.
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Given the pivotal role that feedwater heaters play in boiler systems, investments in feedwater heaters are poised to grow, especially so in power plants. Power generation is on the rise to keep pace with a mounting demand for energy as both urbanization and industrialization make inroads into hitherto underdeveloped regions. With power plants of varying capacities mushrooming across the world, the demand for feedwater heaters for power plants will also grow.
How Will Preference for Renewable Energy Affect Demand for Feedwater Heater for Power Plants?
There is a multi-directional demand for feedwater heaters as they are used in different types of power plants, such as nuclear-powered, gas-powered, and boiler steam-powered plants. A remarkable increase in the number of nuclear power plants globally will also be a contributing factor for the growth of the global feedwater heater for power plants market. In this context, however, environmental and safety concerns associated with the development of nuclear plants will likely hamper the demand for feedwater heaters, which could have otherwise contributed to the growth of the feedwater heater market.
Feedwater heaters for power plants powered by clean and renewable energy sources are an enormous opportunity that companies are beginning to wake up to. Continuous design and efficiency optimization is the key competitive strategy adopted by leading companies in the global market for feedwater heaters for power plants. It is thus, expected that the commercial acceptance of power plants powered by renewable energy sources will augur well for the state of the feedwater heaters market in general and feedwater heaters for power plants in particular.
China and India Represent Fastest-growing Markets for Feedwater Heaters for Power Plants
North America and Europe are the leading regional markets for feedwater heaters for power plants. While the U.S. and Canada are massive markets for feedwater heater for power plants in North America, in Europe, this distinction belongs to countries such as Russia, France, the U.K., and Italy. While these two regional markets will continue to see remunerative opportunities, it is the Asia Pacific market that will emerge most rapidly.
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Several regions in India and China still remain underserved as far as energy supply is concerned. This is changing with the governments of both countries allocating sizeable funds for the development and expansion of their energy infrastructure. With these two major economies moving a step closer to energy sufficiency, the demand for power plants, and consequently, feedwater heaters for power plants will show a noticeable spike.India and China are also reporting a progressive increase in the number of nuclear power plants on their soil. In China alone, there are 30 nuclear power plants reportedly operational and 21 are classified as being under construction. Many more are in the design, planning, and/or approval stage.
As a result of these factors, leading companies such as BWX Technologies Inc., KNM Group Berhad, Alstom Power SA, Westinghouse Electric Company LLC, SPX Heat Transfer Inc., Thermal Engineering International (USA) Inc., Balcke-Dur GmbH, and Foster Wheeler AG will find several opportunities for growth.