Norway's hydropower reserves have been hit hard by drought
Although Europe scrambling to purchase natural gas for power generation and heating in winter, Western Europe's largest producer of oil and gas Norway this summer but have a different problem - dry weather, running out of the hydroelectric reservoir, and hydropower accounts for 90% of Norway's power, Norway's remaining about 10% of the electricity from wind energy.
Although Norway does not use natural gas to generate electricity, Europe is also feeling the gas and energy crisis. In recent weeks, hydropower producers have discouraged the use of more water for hydropower generation and saving water for the winter. Operators have also been asked not to export too much power to other parts of Europe because reservoirs are not as full as in previous years, and not to rely on imports from Europe, where energy supplies are difficult.
At the end of last week, Norway's reservoirs were 59.2 percent full, below the 20-year average, according to the Norwegian Water and Energy Agency (NVE).
By comparison, from 2002 to 2021, the reservoir averaged 67.9 percent at this time of year. The reservoir level in central Norway was 82.3%, but the lowest level was in southwest Norway, which ended up at 45.5%.
Some Norwegian utilities, including Statkraft, a top power producer, have followed a request from State, the transmission operator, not to produce too much power now.
"We are now producing much less than we would have without the dry years and rationing risks on the continent," Statkraft CHIEF Executive Christian Rynning-Tnnesen said in an email to Reuters this week.
Meanwhile, Norwegian authorities on Monday approved applications from operators to boost production from several fields, the Norwegian Ministry of Oil and Energy said, adding that record gas sales through pipelines to Europe are expected this year. Norway's decision to allow higher gas production and record gas exports comes as its partners the European Union and Britain compete for gas supplies ahead of winter. If Russia supplies Europe with pipeline gas, it could be one of the rationing stops for some industries and even households.
The global cooling tower market is estimated at 2.1 billion in 2021 and is expected to reach us $2.6 billion by 2026, with a COMPOUND annual growth rate of 4.5%. Growing demand in emerging markets, stringent environmental regulations, increased DEPLOYMENT of HVACR and technological advances are driving demand for 3 ton water chiller price cooling towers.
Global cooling tower market introduction
Cooling towers are heat exchange devices in which water and air are in direct contact to lower the temperature of water. When water and air meet, a small amount of water evaporates, creating a cooling effect. There are various types of cooling towers and not all of them are suitable for use in the end-use industry. Each project is different and requires a specific cooling tower. A recent trend is to use hePA filters in cooling towers instead of traditional sand filters. Growth in the end-use industry is a key factor expected to drive demand for cooling towers during the forecast period. The same goes for 3 ton water chiller price . The market for 3 ton water chiller price is also expected to grow due to developments in the HVAC, power generation and oil and gas industries.
Europe is already the industrialized continent with the most power plants. Cooling towers have been installed in Europe for years. In addition to the shrinkage of new cooling towers, Europe is also seeing a need to replace them. All these factors make Europe the largest cooling tower market in the world. Like Europe, North America is highly industrialized, and demand for new cooling towers and replacement towers will rise. North America is the world's second largest cooling tower market. The Asia-pacific region is the fastest growing market for cooling towers.
The 3 ton water chiller price market development changes
The construction of new power plants fueled by coal (thermal power plant) and natural gas is increasing all over the world, oil, biofuels, waste, nuclear, hydro, geothermal, solar photovoltaic, solar thermal, wind, tidal and so on. This development, together with increased capital expenditure in the oil and gas sector, is driving the number of oil RIGS worldwide and are the two main factors likely to drive growth in the 3 ton water chiller price market during the forecast period. 3 ton water chiller price are said to be the most prominent type by far. Evaporative cooling towers are expected to occupy the largest market share during the forecast period, followed by dry and hybrid cooling towers. Dry cooling tower is mainly used in places lacking water. As they do not use water and are cost-effective, dry cooling towers are expected to provide profitable opportunities for cooling tower suppliers and manufacturers during the forecast period. Hybrid cooling towers are also growing in popularity because they help reduce heat plumes and reduce the amount of fresh water consumed by factories. As a result, the market is expected to grow significantly during the forecast period.
Regional outlook of global cooling tower market
Germany is the largest market for cooling towers in Europe, followed by Italy. In Europe, five countries - Germany, Italy, France, the United Kingdom and Poland - account for two-thirds of the cooling tower market. Germany is one of The largest manufacturing powers in Europe, leading to increased demand for cooling towers in the country. In Europe, new demand for cooling towers and replacement of existing cooling towers is driving the market as it matures. Among the rest of Europe, Poland's 3 ton water chiller price market recorded double-digit growth of around 25.0%.
The Asia-Pacific region is expected to show high growth rates for global 3 ton water chiller price . China has the largest number of coal-fired, gas-fired and nuclear power plants among asia-pacific countries. It also has the largest hVAC market in the region. All these factors make China a major cooling tower market in the region. In addition, growing industrial growth is driving demand for cooling towers in India. In Japan, in addition to the need for new cooling towers, there is also a large need to replace cooling towers. The rest of Asia Pacific consists of a variety of smaller cooling tower markets.
Impact of COVID-19 on the global cooling tower market
Power generation is one of the important consumers of cooling towers, as it requires energy saving, increased efficiency and strengthening of pipes, machinery, tanks and boilers. Most electricity consumption is in the industrial sector, followed by the residential, commercial and service sectors.
Demand in the sector declined by about 2.5% in the first quarter of 2020 compared to the same period in 2019. The decline was attributable to lower consumption in the industrial and commercial sectors. Businesses have been forced to close because of government-sponsored lockdowns, social distancing measures and restricted supply chains. However, demand is normalising again, helped by a recovery in economic activity across countries.
As a result of the pandemic, demand in the oil and gas industry has dropped significantly. The oil and gas industry has been weak for the past few years as oil prices fell sharply and accelerated from mid-2014.
The industry experienced additional shocks in 2019-2021 due to the COVID-19 outbreak. The outbreak of the COVID-19 pandemic and the drop in demand caused by the global lockdown have forced major refiners to shut down their operations.
Market drivers for 3 ton water chiller price
Drivers: Increased DEPLOYMENT of HVACR and increased industrial activity
The modest growth of the global commercial construction industry, along with accelerated modernization and urbanization in emerging economies, is driving demand for cooling towers. The increased deployment of HVACR is further driving market growth due to increased government investment in 3 ton water chiller price industries. Cooling towers are widely used as part of building HVACR systems through which excess heat from the cooler is treated. As a result, the surge in demand for this HVACR equipment in construction and industrial applications is expected to drive the global cooling tower market. Factors such as climate change and technological innovation have driven the adoption of 3 ton water chiller price . Changeable and unpredictable weather conditions caused by global warming have also increased the need for cooling towers.
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