The global demand for Cooling Tower Market is presumed to reach the market size of nearly USD 4.51 MN by 2028 from USD 3.1 MN in 2021 with a CAGR of 5.5% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Units in 2021 and forecast to touch XX Units by 2028 with a CAGR of XX% during 2022-2028.
A cooling tower refers to the device used to eliminate heat from the atmosphere by cooling a cooling stream to a lower temperature. The air is brought in direct contact with water so as to reduce the water’s temperature. In this process, a small volume of water evaporates and lowers the temperature of water circulated throughout the cooling power. They are used for various applications, including cooling the circulating water used in oil refineries, thermal power stations, nuclear power stations and HVAC systems for cooling buildings. They lower the risk of bacterial contamination as well as extends the equipment life. They also decrease the need for manual maintenance and requirements.
The key factor driving the demand for the cooling tower market is global warming which is leading to changing and unpredictable weather conditions. Rising industrial and manufacturing activities along with the expansion of chemical, petrochemical and fertiliser industries are surging the demand for this market. Growing demand for electricity and increasing investments toward capacity addition across the power generation sector are fostering the demand for this market. Shifting consumer preferences and inclination toward sustainable cooling technologies are propelling the demand for this market. The introduction of favourable regulatory policies on the development of renewable power-generating sources is fueling the demand for this market. Rising demand from the nuclear power generation sector is boosting the growth of this market.
The report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of cooling tower. The growth and trends of Cooling Tower Industry provide a holistic approach to this study.
This section of the cooling tower market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
- Evaporative Cooling Tower
- Dry Cooling Tower
- Hybrid Cooling Tower
By Flow Type
- Mechanical Draft
- Natural Draft
- Open Circuit
- Close Circuit
- Hybrid Circuit
- Power Generation
- Food & Beverage
- Petrochemical And Oil & Gas
This section covers the regional outlook, which accentuates current and future demand for the Cooling Tower market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Cooling Tower Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the cooling tower market include EVAPCO (US), Baltimore Aircoil Company Inc. (US), SPX Corporation (US), Artech Cooling Towers Pvt. Ltd. (India), Babcock & Wilcox Enterprises (US), Brentwood Industries (US), Johnson Controls Inc. (Ireland), Paharpur Cooling Tower Ltd. (India), Enexio (Germany), and Hamon & CIE International (Belgium). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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