Cooling Tower Market Growth, Size, Trends, Demand, Revenue, Share and Future Competition
Global Cooling Tower Market Size-By Flow, By Type, By Application - Regional Outlook, Competitive Strategies and Segment Forecast to 2030
| Published: Oct-2022 | Report ID: POAE2203 | Pages: 1 - 246 | Formats*: |
| Category : Power & Energy | |||
Cooling Tower Market Introduction and Overview
According to SPER Market Research, the Global Cooling Tower Market is estimated to reach USD 3.17 billion by 2030 with a CAGR of 4.7%.
The report includes an in-depth analysis of the Global Cooling Tower market, including market size and trends, product mix, distribution channels, and supplier analysis. A cooling tower is an essential component in many industrial processes and large-scale air conditioning systems. Its principal duty is to dissipate excess heat created during these processes by transmitting it to the surrounding atmosphere. This is accomplished by a simple yet effective mechanism: hot water or steam from the industrial process is poured into the cooling tower and disseminated over a network of pipes or surfaces. As air is drawn through the tower by fans or natural convection, it comes into touch with the hot water, causing some of it to evaporate.
- Baltimore Aircoil Company (BAC) will unveil their new TrilliumSeries Adiabatic Cooler in February 2023. This adiabatic cooling tower is perfect for energy-efficient and low-water-use applications. The design maximizes both water and energy efficiency, thus lowering costs. Furthermore, the TrilliumSeries Cooler is designed to make installation and continuing maintenance simple.
- Russia reported the successful completion of a new cooling tower for a nuclear power station in November 2022. The cooling tower was installed in the nuclear power facility Kursk II. With a height of 179 meters, this is Russia's tallest cooling tower. This cooling tower is 8 meters taller than the previous tallest tower in Russian history and is anticipated to endure 100 years.
Market Opportunities and Challenges
The cooling tower business offers both significant opportunities and substantial challenges. On the one hand, various reasons are driving the increasing need for cooling towers. For starters, global industrialization and urbanization are driving an increase in the construction of commercial buildings, data centers, power plants, and manufacturing facilities, all of which require effective cooling solutions. Furthermore, growing awareness of environmental sustainability and energy efficiency supports the use of advanced, eco-friendly cooling tower technology. Furthermore, severe laws on water conservation and emissions reduction further stimulate the industry as firms strive to meet these demands.
However, the cooling tower market confronts a number of challenges. As water scarcity and environmental concerns persist, one important challenge is the need for ongoing innovation to increase energy efficiency and reduce water consumption. Furthermore, shifting raw material prices have an impact on manufacturing costs and, as a result, product pricing. Furthermore, competition is strong, with multiple companies fighting for market share, putting profit margins under strain.
Market Competitive Landscape
The cooling tower market's competitive landscape is marked by fierce rivalry among big players and an increasing number of regional and minor competitors. Several factors contribute to this market's competitiveness. To begin, there are established global players with a significant presence and a wide range of cooling tower solutions catering to many industries, such as SPX Cooling Technologies, Evapco, BAC Cooling Tower, and Baltimore Aircoil Company.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2030 |
| Base year considered | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | By Flow, By Type, By Application |
| Regions covered | North America, Asia-Pacific, Latin America, Middle East & Africa and Europe. |
| Companies Covered | Agency Science Tech. & Res., Amcot Cooling Tower Corporation, Artech Cooling Towers Pvt. Ltd., Babcock & Wilcox Enterprises Inc., Baltimore Aircoil Company Inc., Bell Cooling Tower, Brentwood Industries Inc., Donghae, Enexio, Evapco Inc., Hamon & Cie, Johnson Controls, Marley Flow Control Pty. Ltd., Mita Cooling Technologies, Nihon Spindle Manufacturing Co. Ltd., Paharpur Cooling Tower Limited, Perfect Cooling Towers Pvt. Ltd., SPX Corporation, Star Cooling Towers Pvt. Ltd., Thermal Care Inc., Thermax Limited, Tower Thermal Pty. Ltd., United Metal Products. |
COVID-19 Impact on Global Cooling Tower Market
The COVID-19 epidemic had a significant influence on the cooling tower industry. Many construction projects and industrial activity were halted or delayed at first as the pandemic spread and lockdown precautions were enforced. As a result, demand for cooling tower installations fell temporarily, notably in the commercial and industrial sectors. Uncertainty about the economy caused some businesses to postpone or scale back their investment plans, harming the market's growth trajectory.
Key Target Audience:
- Industrial Facilities
- Commercial Buildings
- Data Centers
- Utility Companies
- Engineering and Construction Firms
- Facility Managers
- Others
Our in-depth analysis of the Cooling Tower Market includes the following segments:
| By Type: |
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| By Application: |
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Key Topics Covered in the Report:
- Global Cooling Tower Market Size (FY’2022-FY’2030)
- Overview of Global Cooling Tower Market
- Segmentation of Global Cooling Tower Market By Flow (Cross Flow, Counter Flow)
- Segmentation of Global Cooling Tower Market By Type (Evaporative Cooling Tower, Dry Cooling Tower, Hybrid Cooling Tower)
- Segmentation of Global Cooling Tower Market By Application (Chemicals, Petrochemicals, Power Generation, HVACR, Food and beverages, Other Applications.)
- Statistical Snap of Global Cooling Tower Market
- Expansion Analysis of Global Cooling Tower Market
- Problems and Obstacles in Global Cooling Tower Market
- Competitive Landscape in the Global Cooling Tower Market
- Impact of COVID-19 and Demonetization on Global Cooling Tower Market
- Details on Current Investment in Global Cooling Tower Market
- Competitive Analysis of Global Cooling Tower Market
- Prominent Players in the Global Cooling Tower Market
- SWOT Analysis of Global Cooling Tower Market
- Global Cooling Tower Market Future Outlook and Projections (FY’2022-FY’2030)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data2.1.2 Primary data2.1.3 SPER’s internal database2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers4.1.2 Restraints4.1.3 Opportunities4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Cooling Tower Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths5.1.2 Weaknesses5.1.3 Opportunities5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape5.2.2 Economic landscape5.2.3 Social landscape5.2.4 Technological landscape5.2.5 Environmental landscape5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers5.3.2 Bargaining power of Buyers5.3.3 Threat of Substitute5.3.4 Threat of new entrant5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Global Cooling Tower Market, By Flow, 2019-2030 (USD Million)
6.1. Cross Flow6.2. Counter Flow
7. Global Cooling Tower Market, By Type, 2019-2030 (USD Million)
7.1. Evaporative Cooling Tower7.2. Dry Cooling Tower7.3. Hybrid Cooling Tower
8. Global Cooling Tower Market, By Application, 2019-2030 (USD Million)
8.1. Chemicals8.2. Petrochemicals8.3. Power Generation8.4. HVACR8.5. Food and beverages8.6. Other Applications
9. Global Cooling Tower Market, By Region, 2019-2030 (USD Million)
9.1. North America
9.1.1. United States9.1.2. Canada9.1.3. Mexico
9.2. Europe
9.2.1. Germany9.2.2. United Kingdom9.2.3. France9.2.4. Italy9.2.5. Spain9.2.6. Rest of Europe
9.3. Asia-Pacific
9.3.1. China9.3.2. Japan9.3.3. India9.3.4. Australia9.3.5. South Korea9.3.6. Rest of Asia-Pacific
9.4. South America
9.4.1. Brazil9.4.2. Argentina9.4.3. Rest of South America
9.5. Middle East & Africa
9.5.1. Kingdom of Saudi Arabia9.5.2. United Arab Emirates9.5.3. Rest of Middle East & Africa
10. Company Profiles
10.1. Agency Science Tech. & Res.
10.1.1. Company details10.1.2. Financial outlook10.1.3. Product summary10.1.4. Recent developments10.2. Amcot Cooling Tower Corporation10.2.1. Company details10.2.2. Financial outlook10.2.3. Product summary10.2.4. Recent developments10.3. Artech Cooling Towers Pvt. Ltd.10.3.1. Company details10.3.2. Financial outlook10.3.3. Product summary10.3.4. Recent developments10.4. Babcock & Wilcox Enterprises Ltd.10.4.1. Company details10.4.2. Financial outlook10.4.3. Product summary10.4.4. Recent developments10.5. Baltimore Aircoil Co. Inc.10.5.1. Company details10.5.2. Financial outlook10.5.3. Product summary10.5.4. Recent developments10.6. Bell Cooling Tower10.6.1. Company details10.6.2. Financial outlook10.6.3. Product summary10.6.4. Recent developments10.7. Brentwood Industries Inc.10.7.1. Company details10.7.2. Financial outlook10.7.3. Product summary10.7.4. Recent developments10.8. Donghae10.8.1. Company details10.8.2. Financial outlook10.8.3. Product summary10.8.4. Recent developments10.9. Enexio10.9.1. Company details10.9.2. Financial outlook10.9.3. Product summary10.9.4. Recent developments10.10. Evapco Inc.10.10.1. Company details10.10.2. Financial outlook10.10.3. Product summary10.10.4. Recent developments10.11. Hamon & Cie10.11.1. Company details10.11.2. Financial outlook10.11.3. Product summary10.11.4. Recent developments
10.12. Johnson Controls
10.12.1. Company details10.12.2. Financial outlook10.12.3. Product summary10.12.4. Recent developments10.13. Marley Flow Control Pty. Ltd.10.13.1. Company details10.13.2. Financial outlook10.13.3. Product summary10.13.4. Recent developments10.14. Mita Cooling Technologies10.14.1. Company details10.14.2. Financial outlook10.14.3. Product summary10.14.4. Recent developments10.15. Nihon Spindle Manufacturing Co. Ltd.10.15.1. Company details10.15.2. Financial outlook10.15.3. Product summary10.15.4. Recent developments10.16. Paharpur Cooling Tower Ltd.10.16.1. Company details10.16.2. Financial outlook10.16.3. Product summary10.16.4. Recent developments10.17. Perfect Cooling Towers Pvt. Ltd.10.17.1. Company details10.17.2. Financial outlook10.17.3. Product summary10.17.4. Recent developments10.18. SPX Corporation10.18.1. Company details10.18.2. Financial outlook10.18.3. Product summary10.18.4. Recent developments10.19. Star Cooling Towers Pvt. Ltd.10.19.1. Company details10.19.2. Financial outlook10.19.3. Product summary10.19.4. Recent developments10.20. Thermal Care Inc.10.20.1. Company details10.20.2. Financial outlook10.20.3. Product summary10.20.4. Recent developments10.21. Thermax Limited10.21.1. Company details10.21.2. Financial outlook10.21.3. Product summary10.21.4. Recent developments10.22. Tower Thermal Pty. Ltd.10.22.1. Company details10.22.2. Financial outlook10.22.3. Product summary10.22.4. Recent developments10.23. United Metal Products10.23.1. Company details10.23.2. Financial outlook10.23.3. Product summary10.23.4. Recent developments
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
Frequently Asked Questions About This Report
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The Cooling Tower Market is projected to reach USD 3.17 billion by 2030, growing at a CAGR of 4.7% during the forecast period.
The Cooling Tower Market grew in market size from 2021. The Market is expected to reach USD 3.17 billion by 2030, at a CAGR of 4.7% during the forecast period.
The Cooling Tower Market CAGR of 4.7% during the forecast period.
The Cooling Tower Market size is USD 3.17 billion from 2022 to 2030.
The Cooling Tower Market segment is Covered By Flow, By Type, By Application.
The North America and Europe region is anticipated to have the highest market share in the Cooling Tower Market.
The use of eco friendly products is a major trend in the cooling tower market. Eco-friendly products transport heat via water rather than air, which is approximately 3,200 times more efficient and environmentally friendly.
The key players in the market include Agency Science Tech. & Res., Amcot Cooling Tower Corporation, Artech Cooling Towers Pvt. Ltd., Babcock & Wilcox Enterprises Inc., Baltimore Aircoil Company Inc., Bell Cooling Tower, Brentwood Industries Inc., Donghae, Enexio, Evapco Inc., Hamon & Cie, Johnson Controls, Marley Flow Control Pty. Ltd., Mita Cooling Technologies, Nihon Spindle Manufacturing Co. Ltd., Paharpur Cooling Tower Limited, Perfect Cooling Towers Pvt. Ltd., SPX Corporation, Star Cooling Towers Pvt. Ltd., Thermal Care Inc., Thermax Limited, Tower Thermal Pty. Ltd., United Metal Products.
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