Cooling Tower Market Size - By Product (Evaporative/Wet, Dry, Hybrid), By Technology (Open Circuit, Closed Circuit, Hybrid), By Design (Mechanical, Natural), By Build (Field Erection, Package), Construction Material, Flow, Application & Forecast, 2024 - 2032
Cooling Tower Market Size - By Product (Evaporative/Wet, Dry, Hybrid), By Technology (Open Circuit, Closed Circuit, Hybrid), By Design (Mechanical, Natural), By Build (Field Erection, Package), Construction Material, Flow, Application & Forecast, 2024 - 2032
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Free Sample Ask for Discount Request CustomizationCooling Tower Market Size
Cooling Tower Market Size exceeded USD 3 billion in 2023 and is projected to grow at a CAGR of over 4.5% from 2024 to 2032. An increase in industrial and manufacturing activities along with the expansion of chemical, automotive, oil & gas, petrochemical, and fertilizer industries will complement the market growth.
To get key market trends
Moreover, the introduction of favorable regulatory policies on renewable power-generating sources development combined with the shifting consumer inclination toward sustainable cooling technologies will augment product adoption.
Ongoing developments and utilization of cogeneration technologies followed by strict government mandates for the reduction of coal-based plants will boost the market expansion. Rapid industrial growth across developing economies along with technological enhancements related to components and tower structures will further propel the business growth. Growing electricity demand coupled with increasing investments toward capacity addition across the power generation sector will stimulate the industry landscape. In addition, changing climatic conditions in line with government targets to reduce GHG emissions will lead to the development of sustainable cooling systems.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Cooling Tower Market Size in 2023 | USD 3 Billion |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 4.5% |
| 2032 Value Projection | USD 4.6 Billion |
| Historical Data for | 2019 to 2023 |
| No. of Pages | 450 |
| Tables, Charts & Figures | 706 |
| Segments covered | Product, Technology, Design, Build, Construction Material, Flow, Application |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Cooling Tower Market Analysis
Learn more about the key segments shaping this market
Reduced capital expenditure along with minimal space requirements will propel the growth of evaporative cooling towers. Ongoing technological innovations coupled with the ability of improved efficiency, flexibility, communication capability, and low energy requirement in the evaporation process will accelerate product demand.
Rapid developments across Heating, Ventilation, Air-Conditioning and Refrigeration (HVACR) systems along with continuous technological advancements to produce cost-efficient components, drift eliminators, and PVC fills will drive the demand for open-circuit cooling tower systems. Furthermore, easy integration with both wet & dry towers combined with low construction costs and continuous R&D to remove biological contamination will positively fuel the business scenario.
Learn more about the key segments shaping this market
The mechanical design-based cooling towers market crossed USD 2.4 billion by 2032. Effective thermal performance, greater stability, and easy airflow are some of the key factors stimulating product demand. Additionally, the ability to build various capacity ranges coupled with the availability in both field erected and packaged builds will encourage mechanical design acceptance.
Rising concerns owing to increasing surface temperatures along with focused regulatory policies toward energy efficiency will complement the business spectrum. Furthermore, strong technical capability coupled with low installation costs will support the industry trends.
Asia Pacific cooling tower market will reach over USD 2.5 billion by 2032. Surging investments toward generation capacity addition along with robust industrial growth will encourage industry development. Rising electricity demand coupled with the ongoing expansion of various industries including oil refineries, petrochemical plants, and chemical industries, amongst others will lead to large-scale cooling tower deployments.
Looking for region specific data?
The COVID-19 crisis impacted the overall global economies owing to the shutting of various industrial and manufacturing facilities. However, the industry is poised to grow led by the growing demand for HVACR applications. Moreover, governments and various manufacturers are engaged in collaborative efforts to compensate for the economic impacts of the pandemic by adopting an innovative approach to increase the overall resilience of the supply chain. In addition, increasing construction activities for new power plants will positively impact the overall industry value.
Cooling Tower Market Share
Key players operating across the industry includes
- S.A. HAMON
- SPX Cooling Technologies
- ENEXIO Management
- Baltimore Aircoil Company (BAC)
- Johnson Controls
- Paharpur Cooling Tower
- SPIG S.p.A
- EVAPCO
- Delta Cooling Towers
- Thermax
- International Cooling Tower
- Brentwood Industries
- ENGIE Refrigeration
- Perfect Cooling Towers
- Star Cooling Towers
- Mesan Group
- Bell Cooling Tower
- BERG Chilling Systems
- REYMSA Cooling Towers
- Thermal Care.
Inorganic growth ventures, mergers, new product innovations, and agreements to strengthen the presence of various companies will impel the industry outlook.
The cooling tower market research report includes in-depth coverage of the industry with estimates & forecast in terms of ‘USD’ from 2022 to 2028 for the following segments
Click here to Buy Section of this Report
Market, By Product
- Evaporative/Wet
- Dry
- Hybrid
Market, By Technology
- Open Circuit
- Closed Circuit
- Hybrid
Market, By Design
- Mechanical
- Natural
Market, By Build
- Field Erection
- Package
Market, By Construction Material
- Concrete
- Steel
- FRP
- Wood
Market, By Flow
- Cross Flow
- Counter Flow
Market, By Application
- Chemicals & Fertilizers
- Oil & Gas
- Power Generation
- HVACR
The above information has been provided for the following regions and countries
- North America
- U.S
- Canada
- Mexico
- Europe
- UK
- France
- Germany
- Italy
- Sweden
- Netherlands
- Denmark
- Spain
- Russia
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Malaysia
- Indonesia
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- Oman
- Kuwait
- Egypt
- South Africa
- Turkey
- Latin America
- Brazil
- Argentina
- Chile
- Peru
Related Reports
- Cheese Powder Market By Type (Parmesan, Cheddar, Blue Cheese, Swiss, Romano, Others), By Source (Cow Milk, Buffalo Milk,...
- Fruit and Vegetable Processing Enzymes Market By Type (Amylase, Pectinase, Protease, Cellulose), By product Type (Juices...
- Oryzenin Market by Type (Isolates, Concentrates, Other), By Form (Dry, Liquid), By Function (Emulsifying, Texturing, Gel...
- Industrial Sugar Market By Type (White Sugar, Brown Sugar, Liquid Sugar), By Source (Sugarcane, Sugarbeet ), By Form (Gr...
- Protein Hydrolysates Market by Type (Milk, Plant, Animal), By Form (Powder, Liquid), By Technology (Acid Hydrolysis, Enz...
- Global Temperature Controlled Packaging Systems Market Size By Product Type, By End-User Industry, By Technology, By Geo...
Table of Content
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy