Industrial Cooling System Market Size
Think of your data center as a busy metropolis where powerful servers, routers, and storage systems work around the clock. These technological devices create a lot of heat, just like a busy city does. We need good cooling systems to keep this digital city working properly and stop expensive breakdowns. These systems are like the data center world's air conditioners; they keep the servers at the right temperatures. The need for these cooling systems is growing along with the number and size of data centers. They are like the protectors of the digital world, making sure that our computers and networks work smoothly.
The main goal of the food and drink sector is to keep our food safe and fresh. That's why they're really stepping up their game with these high-tech cooling systems for businesses. These businesses are making sure they have the nicest coolers since people adore their fresh food. The law is also on their side. The FDA and CFIA are telling people, "You have to keep those temperatures just right." We take food safety very seriously. These firms make sure that their food stays chilled and safe from the production to your fridge.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Industrial Cooling System Market Size in 2023 | USD 19.21 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 6% |
| 2032 Value Projection | 33.42 Billion |
| Historical Data for | 2021 - 2023 |
| No. of Pages | 210 |
| Tables, Charts & Figures | 200 |
| Segments covered | Product, Capacity, Application |
| Growth Drivers |
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| Pitfalls & Challenges |
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It can be very expensive to set up industrial cooling systems at first. You will have to buy things like chillers, cooling towers, pumps, and more. Then there are the costs of bringing everything together, such as modifying existing infrastructure and putting in pipes, electrical connections, and automation systems. And remember that the bigger and more complicated the system is, the more it will cost you. These costs make it hard for a lot of organizations to put money into big projects like these, which slows down the growth of the industrial cooling system market.
The lack of water is a big problem all across the planet. Industrial cooling systems use a lot of water, which puts even more demand on water supplies that are already under a lot of stress. Water regulatory agencies are putting severe limits on how much water can be used and how much can be released. This makes it hard for businesses to grow or add new cooling systems that use a lot of water, which slows down market growth.
Also, enterprises that use water-based cooling systems will have to pay more to run their businesses because water is getting harder to find and more expensive, which will probably raise its costs. These higher expenses can make it harder for enterprises to make money and make people less likely to invest in industrial process cooling systems.
Industrial cooling System Market Trends
Digital transformation in industrial cooling is changing the monitoring, control, and management of industrial cooling systems. Cloud platforms and remote monitoring have enabled real-time monitoring, predictive maintenance, and centralized control. Connected sensors and data analytics provides deep dive insights into the system performance, energy consumption, and potential issues. This data-driven approach enables proactive maintenance, optimization of cooling operations, and energy management, leading to improved efficiency, reduced downtime, and cost savings.
The increasing concerns regarding reduction of greenhouse gas emissions have put high emphasis on the adoption of environmental-friendly refrigerants. Industrial cooling system manufacturers are increasingly adopting low-GWP alternatives such as Hydrofluorocarbons (HFCs). Additionally, natural refrigerants such as ammonia (NH3) and carbon dioxide (CO2) are gaining traction due to their zero or very low GWPs. These refrigerants offer improved energy efficiency and have minimal impact on the environment.
Industrial cooling System Market Analysis
Based on product, the evaporative cooling segment is expected to reach USD 14.9 billion by 2032.
- The evaporative process cooling segment dominated the market in 2023. Factors attributed to the large market share of this segments are energy efficiency, environmental friendliness, and low-cost adoption will increase the evaporative industrial cooling process adoption, in turn, aiding market growth.
- Continuous improvements in evaporative cooling technology have increased the overall system efficiency. Through innovative designs, manufacturers are enhancing cooling processes control, optimizing water consumption, and augmenting heat exchange. The technological advancements ultimately lead to increased reliability, better system integration and more efficient cooling arrangements.
Based on application, the food & beverage segment is anticipated to register about 9% CAGR between 2024 and 2032.
- The food and beverages segment is expected to grow with fastest CAGR during the forecast period. The high growth of this segment is attributed to factors such as strict food safety regulations, changing consumer preferences, and the adoption of cold chain logistics. The increasing demand of fresh and organic products, ready-to-eat meals, and online grocery shopping is further propelling the need for efficient cooling solutions.
- Blast chillers, refrigerated conveyors, and immersion coolers are increasingly deployed in the food processing industry to reduce and maintain temperature of processed food items, meat, poultry, and bakery products. These systems helps in maintaining the freshness of the food products and prevent bacterial growth. Industrial cooling is a critical in dairy processing operations such as pasteurization, homogenization, and cheese aging. Cooling systems are used to regulate temperatures during these processes, ensuring quality, safety, and consistent product characteristics.
The increasing demand for power generation to cater to the growing energy-demand from the U.S. industrial sector will drive the industrial cooing system market growth in the U.S. In 2022, the power generation sector in the U.S. generated 4.24 trillion kWh of electricity.
The growth of industrial cooling system market in the U.S. is driven by factors such as strict efficiency regulations prompting organizations in the U.S. to upgrade their cooling infrastructure, expanding data center industry coupled by cloud computing and AI requires state-of-the art cooling solutions. The F&B manufacturers in the U.S. are putting high emphasis on the quality and safety coupled with high adoption of cold chain logistics is boosting the demand for industrial cooling in the market. As industries strive for increased productivity and reduced operational costs, efficient cooling systems have become a critical investment, further propelling market growth.
The industrial cooling system market growth in Europe is driven by factors such as modernization of ageing industrial infrastructure prompting upgrade of cooling systems. Increase in specialized manufacturing such as pharmaceuticals and biotechnology require precision temperature control which further boosts the need for advanced cooling solutions. The push for circular economy in Europe is also influencing the market growth with a growing emphasis on heat recovery systems that repurpose waste heat. The expansion of district cooling networks in urban areas is creating new opportunities for industrial-scale cooling solutions.
Industrial cooling System Market Share
Three big names in the area of industrial cooling systems are Emerson Electric Co., Vertic Group Corporation, and STULZ GmbH. They control a large part of the market, with a combined share of more than 30%. Emerson Electric Co. is a huge tech and engineering company that is continually looking for new methods to solve problems. They have a wide choice of compressors and condensing units to keep your industrial space cool. These nasty boys are highly important for air conditioning and refrigeration systems because they keep everything cool. Emerson also knows that it's important to keep an eye on your cooling system. That's why they've built automated air-cooled exchanger monitoring systems. These smart devices keep an eye out for warning indications, let you know if your cooling is getting a little shaky, and talk to your other control and management systems to make sure everything is working well. Emerson doesn't just sit back and enjoy its success, either. They're always pushing the limits by coming out with new goods to fulfill the needs of businesses and industries that are always evolving. You know who to call if you need the best industrial cooling solutions!
Meet Vertiv, the people that know how to keep your industrial cooling systems functioning well. We're the people to call for dependable and effective cooling solutions that keep your important processes running smoothly. We have a comprehensive choice of cooling equipment for every industrial demand, from super-smart air conditioners to reliable chillers. Our clever air conditioners keep the temperature just right, while our chillers do their thing with cold water. But hold on, there's more! We also have cooling towers and heat exchangers. They're like the hidden spices that keep your systems cool as a cucumber. And you know what? Our chilled water cooling systems can do a lot of things at once. They can cool the air, heat it up, and even save you water all at the same time. We don't simply stop at giving you the best cooling systems. We also care about making our consumers happy. We listen to you, help you with your problems, and are continuously searching for ways to make your time with us even better.
Industrial cooling System Market Companies
Major key players operating in the industrial cooling system industry are
- Emerson Electric Co.
- Vertiv Group Corporation
- STULZ GmbH.
- Rittal GmbH & Co. KG
- Baltimore Aircoil Company Inc.
- Black Box Corporation
- Hamon Group
Industrial cooling System Industry News
In February 2023, Vertiv launched Vertiv XR app, the first tool in the data center space that allows data center operators to visualize Vertiv products in locations they would use in a facility. The application is promoting Vertiv’s widespread & ongoing digitalization initiative to improve the customer experience.
In May 2021, Emerson launched the Copeland family of commercial HVACR Variable Frequency Drives (VFDs). The company launched VFDs for various commercial & industrial applications, which are built with contractor ease of installation and have many features including quick-start menus. They also integrate efficiently with Emerson’s legacy E2 supervisory control and Dixell refrigeration controllers.
This industrial cooling system market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD million) from 2021 to 2032, for the following segments
Market, By Product
- Air cooling
- Evaporative cooling
- Hybrid cooling
- Water cooling
- Other cooling
Market, By Capacity
- Small (< 20 tons)
- Medium (20-100 tons)
- Large (>100 tons)
Market, By Application
- Automotive
- Chemicals
- Food & Beverages
- Utility & Power
- Oil & Gas
- Pharmaceuticals
- Industrial Manufacturing
- Data Centers
- Other End use
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- MEA
- UAE
- Saudi Arabia
- South Africa
- Rest of MEA
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