Hydrogen Cooled Turbine Generator Market Size, Share & Industry Analysis, By Type (Steam Turbine Generator, Solar Turbine Generator, Hydro Turbine Generator, Others), By End-user (Coal Power Plant, Nuclear Power Plant, Natural Gas Power Plant, Others)And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
A hydrogen cooled turbine generator is used as a cooling method for transferring heat from the power generating windings enclosed to the heat exchangers, known as H2 coolers. Many power generators unit uses hydrogen as the cooling method for transferring heat, where a hydrogen cooled turbine uses seals to keep hydrogen gases inside the turbine. The hydrogen cooling system is one of the most effective ways and has less mass of materials as hydrogen as a gas is lighter which results in fewer friction losses and more fuel conversion.
Based on the type, the market is segmented into steam turbine generators, solar turbine generators, hydro turbine generators, and others. The steam turbine generator segment is expected to dominate the market, owing to the large amount of heat produced by electric power generators, hydrogen tends to be the effective way for cooling the generators to maintain the efficiency, and allowing power plant owners to generate more megawatts of power out of the small generator.
Based on the end-user the market is segmented into the coal power plant, nuclear power plant, natural gas power plant, and others. The coal power plant is anticipated to dominate the market, owing to its power generation capacity. Moreover, the lower density of hydrogen and high specific heat and thermal conductivity make it a superior coolant for the industry.
One of the major drivers for the hydrogen cooled turbine generator market is the rising government initiatives and subsidies for the power sources along with advancement in technology, other than that the availability of hydrogen is abundant and relatively inexpensive which drives the market.
However, hydrogen when mixed with air is highly flammable and becomes a chief safety concern, which hinders the market growth.
Key Market Driver -
The advancement in technology and material cost along with government subsidies to curb environmental pollution
Key Market Restraint -
The safety associated with hydrogen is crucial
Key players covered:
Some of the major companies present in the hydrogen cooled turbine generator market are GE, Alstom, Siemens AG, Mitsubishi Hitachi Power Systems, Suzlon Energy Ltd., and BHEL.
Regional analysis:
The hydrogen cooled turbine generator market has been studied across North America, Europe, Asia Pacific, Latin America, the Middle East & Africa. The Asia-Pacific is anticipated to dominate the most significant market owing to increasing industrialization and rapid urbanization resulting surge in electrification and energy demand across countries like India, China, Japan, and others. Moreover, key players like Mitsubishi Hitachi Power Systems and others have potential growth in the market. North America and Europe are focusing on adopting cleaner energy sources. The government implemented stringent laws to reduce emissions & is more focused on renewable energy projects and energy-efficient sectors. Based on these factors, the hydrogen cooled turbine generator market has a positive landscape market.
Latin American hydrogen cooled turbine generator market is anticipated to grow due to the electricity sector and is expected to expand during the forecast period. In the Middle East and Africa, the rise in power generation units owing to increasing shares of natural gas in power generation is anticipated to drive the hydrogen cooled turbine generator market.
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Segmentation
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Key Industry Developments
- In February 2021, PIC Group was awarded the O&M service agreement for Hummel Station by LS Power Group Inc., this service will ensure consistency and reliability in operations for meeting maximum financial and operational goals
- In December 2020, Mitsubishi Power has won a gas turbine supply contract from Capital Power. The gas turbine can operate on a mixture of natural gas and hydrogen and will repower its Geneses units in Alberta, Canada.
- Ongoing
- 2023
- 2019-2022
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