Top Pressure Recovery Turbines (TPRT) Market Size, Share, Growth, and Industry Analysis, By Type (Wet Type and Dry Type), By Application (Steel Plant, Power Plant and Others), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

Top Pressure Recovery Turbines (TPRT) Market Report Overview

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The global top pressure recovery turbines (TPRT) market size was USD 175.5 million in 2022 and market is projected to touch USD 242.8 million by 2032, at a CAGR of 3.3%  during the forecast period.

The global COVID-19 pandemic has been unprecedented and staggering, with the top pressure recovery turbines (TPRT) market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A top pressure recovery turbine (TPRT) is a type of turbine that recovers waste heat from the top gas of a blast furnace. The top gas is the hot gas that is exhausted from the top of the blast furnace after it has been used to reduce iron ore. The TPRT uses the energy in the top gas to drive a turbine, which generates electricity or steam.

TPRTs are used to improve the efficiency and sustainability of blast furnaces. By recovering waste heat from the top gas, TPRTs can help to reduce the amount of energy that is required to operate the blast furnace. This can lead to significant savings in energy costs and emissions.

COVID-19 Impact: Pandemic Decreased the Market Demand

The COVID-19 pandemic has had a significant impact on the top pressure recovery turbines (TPRT) market share. The COVID-19 pandemic led to a decline in global steel production, as many steel plants were forced to shut down or operate at reduced capacity. This decline in steel production led to a decrease in demand for top pressure recovery turbines (TPRT). The COVID-19 pandemic disrupted global supply chains, making it more difficult and expensive to obtain the components and materials needed to manufacture top pressure recovery turbines (TPRT). This disruption of supply chains also led to delays in the delivery of TPRTs, which further dampened demand. The COVID-19 pandemic led to an economic slowdown, which reduced the amount of capital that businesses were willing to invest in new projects. This economic slowdown also led to a decrease in demand for new TPRTs. As a result of these factors, the global TPRT market declined in 2020.

Latest Trends

"The development of smaller and more efficient turbines is expected to fuel the growth in the market"

The development of smaller and more efficient turbines is a key trend in the market. These turbines are designed to be more compact and lighter than traditional turbines, which makes them easier to install and maintain. They are also more efficient, which means that they can generate more power from the same amount of steam. The development of smaller and more efficient turbines is being driven by the growing demand for energy efficiency in the iron and steel industry. As steelmakers look for ways to reduce their energy costs, they are turning to smaller and more efficient turbines. These turbines can help steelmakers to save energy and reduce their environmental impact. In addition to the iron and steel industry, smaller and more efficient turbines are also being used in other applications, such as power generation and desalination. As the demand for these applications grows, the demand for smaller and more efficient turbines is expected to continue to grow.

Top Pressure Recovery Turbines (TPRT) Market Segmentation

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• By Type Analysis

According to type, the market can be segmented wet type and dry type.

• By Application Analysis

Based on age, the market can be divided into steel plant, power plant and others.

 Driving Factors

"Increasing demand for energy efficiency in the iron and steel industry to foster the market growth"

The iron and steel industry is one of the most energy-intensive industries in the world. The production of steel requires a large amount of energy, which is often derived from fossil fuels. This can lead to high levels of greenhouse gas emissions, which contribute to climate change. In recent years, there has been a growing demand for energy efficiency in the iron and steel industry. This is due to a number of factors, including the rising cost of energy, the increasing focus on environmental sustainability, and the need to reduce emissions. There are a number of ways to improve energy efficiency in the iron and steel industry. One way is to use more efficient technologies, such as top pressure recovery turbines (TPRT). TPRTs can help to recover waste heat from the iron and steel production process, which can be used to generate electricity or steam.

"The rising focus on environmental sustainability to result in the expansion of the market"

The iron and steel industry is one of the most polluting industries in the world. It is responsible for a significant amount of greenhouse gas emissions, as well as other pollutants, such as sulfur dioxide and nitrogen oxides in recent years, there has been a growing focus on environmental sustainability in the iron and steel industry. This is due to a number of factors, including the increasing awareness of the impact of climate change, the tightening of environmental regulations, and the growing demand for sustainable products. There are a number of ways to improve environmental sustainability in the iron and steel industry. One way is to use more efficient technologies, such as top pressure recovery turbines (TPRT). Top pressure recovery turbines (TPRT) can help to reduce emissions by recovering waste heat from the iron and steel production process.

Restraining Factors

"Complex installation process to hamper the market growth"

The installation of top pressure recovery turbines (TPRT) is a complex process that requires a high level of expertise. The turbines are typically installed in blast furnaces, which are large and complex structures. The installation process must be carefully planned and executed to ensure that the turbines are installed correctly and safely.

Top Pressure Recovery Turbines (TPRT) Market Regional Insights

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"Asia Pacific to lead the market owing to large steel production capacity. "

The Asia Pacific region has shown the highest top pressure recovery turbines (TPRT) market growth. Asia-Pacific is home to some of the world's largest steel producers. The region has a large steel production capacity, which is driving the demand for top pressure recovery turbines (TPRT). There is a growing focus on environmental sustainability in Asia-Pacific. The governments in the region are tightening environmental regulations, which is driving the demand for more sustainable technologies, such as TPRTs.

Key Industry Players

"Key players are employing advanced technologies in order to stimulate further growth of the market.  "

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• IMI Z&J: Birmingham, United Kingdom
• Mitsui E&S Machinery Co: Tokyo, Japan
• Kawasaki: Kobe, Japan
• Gazprom Energoholding Group: Saint Petersburg, Russia
• Shaanxi Blower: Xi'an, China

Report Coverage

This report examines an understanding of the top pressure recovery turbines (TPRT) market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post-COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.