Cooling Tower Market is expected to reach USD 5.21 billion at a CAGR of 3.8% during the forecast period 2029.Cooling Tower Market Introduction
The gadget is mostly used to keep the atmosphere cold in the industrial and power generating industries. Cooling towers' primary function is to remove heat and maintain a cool temperature. Cooling towers can help maintain heat control in air conditioning systems. They are used in a wide range of industries, including power production, manufacturing, HVACR, food and beverage, and others.To know about the Research Methodology :- Request Free Sample Report
Cooling Tower Market Dynamics
Cooling towers maximize the utilization of energy in cooling systems. However, this energy efficiency is accomplished at the price of extra water use over typical cooling systems. Furthermore, cooling towers are commonly used in power production utilities, industrial businesses, and HVAC systems, and they provide a wide range of water conservation opportunities through proper maintenance and monitoring. Cooling tower use is increasing as a result of technological developments such as integrated axial fans and enhanced heat transmission. For example, Novo Nordisk, a global pharmaceutical firm based in Kalundborg, Denmark saved about 5 million kWh per year by adding four additional cooling towers to its existing cooling tower system and streamlining insulin production procedures. As a result, these factors are expected to fuel the global cooling market's growth throughout the forecast period. Increased GDP growth has resulted in more infrastructure construction and, as a result, more HVAC deployments. At the end of 2013, the world market saw an increase in output, with industrialized nations like as Germany, Japan, and the United States playing a large role. In addition, growing economies such as India, China, Taiwan, Singapore, and South Korea have seen consistent increases in output, which is likely to drive the global cooling towers market growth throughout the forecast period. On the other hand, environmental issues with cooling towers, such as plume and drift, are expected to hamper their development to a degree. The introduction of the plume attenuated towers and drift eliminators, on the other hand, is anticipated to alleviate these problems and promote demand for hybrid towers in the future. Over the forecast period, technological improvements that assist boost energy efficiency and lessen environmental problems connected with traditional cooling systems are likely to create new doors for industry growth. The COVID-19 pandemic has had a global impact on the industrial and energy sectors. The market was impacted by abrupt shutdowns in the industrial sectors, where the major share of cooling towers are placed, and a decrease in demand for oil and gas. Following the COVID-19 effects, the growth in industrial activities that require cooling towers, such as petroleum refineries, petrochemical plants, and other manufacturing industries, as well as stringent environmental regulations, are expected to drive the global demand for field-erected cooling towers.Cooling Tower Market Segment Analysis
In 2022, the closed-circuit type category had the biggest market share of xx %. Hybrid towers, on the other hand, are predicted to take a significant part of the market throughout the forecast period. The benefits of hybrid towers, such as plume abatement, water savings, and effective cooling, are attributed to this. Open-circuit type, on the other hand, resulted in a considerable share in 2022 due to the excellent cooling they give. Due to environmental issues such as drift, plume, and water contamination, the segment is likely to increase at a modest rate throughout the forecast period. Fiber-Reinforced Plastic (FRP), steel, concrete, wood, and High-Density Polyethylene (HDPE) are some of the materials used in cooling towers (HDPE). Due to many features such as excellent corrosion resistance, cost-effectiveness, and ease of installation, the FRP material segment accounted for the highest percentage in 2022. Steel towers, which are comprised of galvanized and stainless steel, also claimed a significant portion of the market in 2022, owing to their excellent corrosion resistance and structural strength. Following this section is the concrete material section, which is expected to develop considerably due to its extended working life.Regional Insights
In 2022, Asia Pacific had the greatest market share, accounting for more than xx% of total sales, closely followed by Europe. Furthermore, from 2023 to 2029, the region is expected to be the fastest-growing market for cooling towers, with a CAGR of over xx%. The demand for these towers in Asia Pacific is likely to be driven by the growing number of manufacturing facilities and the growth of the industrial sector. Furthermore, the Asia Pacific region's increasing emphasis on nuclear power plant building is likely to boost market demand throughout the forecast period. In the Asia-Pacific area, for example, there were around 135 operational nuclear power reactors as of September 2022. Furthermore, around 35 nuclear reactor facilities are now under construction, with plans to develop a further 60-70 nuclear reactor facilities throughout the Asia-Pacific area. As a result, the market for field-erected cooling towers is expected to grow. The European market's rise, on the other hand, maybe attributed to strict government rules surrounding the use of these towers as well as the region's growing number of heavy enterprises. The growing presence of the oil and gas sectors in the Middle East and Africa are expected to boost the market growth in the region.Cooling Tower Market Scope: Inquire before buying
Cooling Tower Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 4.01 Bn. Forecast Period 2023 to 2029 CAGR: 3.8% Market Size in 2029: US $ 5.21 Bn. Segments Covered: by Type Open-circuit Closed-circuit Hybrid by Material Fiber-Reinforced Plastic (FRP) Steel Concrete Wood High-Density Polyethylene (HDPE) by Application HVAC Power Generation Oil & Gas Industrial Cooling Tower Market, by Region
North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (razil, Argentina Rest of South America)Key Players
1. B&W SPIG (Babcock & Wilcox) 2. Baltimore Aircoil Company (BAC) 3. Cenk Industrial Plants Manufacturing and Contracting 4. Cooling Towers Systems; Inc. 5. Delta Cooling Towers 6. Engie Refrigeration GmbH 7. Hamon & CIE SA 8. Johnson Controls Inc 9. Mesan Cooling Towers Ltd 10. Bell Cooling Tower 11. Brentwood Industries Inc. 12. Enexio 13. Hamon & Cie International SA 14. Paharpur Cooling Towers 15. SPIG S.p.A 16. Star Cooling Towers Private Ltd Frequently Asked Questions: 1. Which region has the largest share in Global Cooling Tower Market? Ans: Asia Pacific region held the highest share in 2022. 2. What is the growth rate of Global Cooling Tower Market? Ans: The Global Cooling Tower Market is expected to grow at a CAGR of 3.8% during forecast period 2023-2029. 3. What is scope of the Global Cooling Tower market report? Ans: Global Cooling Tower Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period. 4. Who are the key players in Global Cooling Tower market? Ans: The important key players in the Global Cooling Tower Market are – B&W SPIG (Babcock & Wilcox), Baltimore Aircoil Company (BAC), Cenk Industrial Plants Manufacturing and Contracting, Cooling Towers Systems; Inc., 5. What is the study period of this market? Ans: The Global Cooling Tower Market is studied from 2022 to 2029.
1. Preface 1.1. Market Definition and Key Research Objectives 1.2. Research Highlights 2. Assumptions and Research Methodology 2.1. Report Assumptions 2.2. Abbreviations 2.3. Research Methodology 2.3.1. Secondary Research 2.3.1.1. Secondary data 2.3.1.2. Secondary Sources 2.3.2. Primary Research 2.3.2.1. Data from Primary Sources 2.3.2.2. Breakdown of Primary Sources 3. Executive Summary: Global Cooling Tower Market Size, by Market Value (US$ Bn) 3.1. Global Market Segmentation 3.2. Global Market Segmentation Share Analysis, 2022 3.2.1. Global 3.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 3.3. Geographical Snapshot of the Cooling Tower Market 3.4. Geographical Snapshot of the Cooling Tower Market, By Manufacturer share 4. Global Cooling Tower Market Overview, 2022-2029 4.1. Market Dynamics 4.1.1. Drivers 4.1.1.1. Global 4.1.1.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.2. Restraints 4.1.2.1. Global 4.1.2.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.3. Opportunities 4.1.3.1. Global 4.1.3.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.4. Challenges 4.1.4.1. Global 4.1.4.2. By Region (North America, Europe, Asia Pacific, South America, Middle East Africa) 4.1.5. Industry Trends and Emerging Technologies 4.1.6. Porters Five Forces Analysis 4.1.6.1. Threat of New Entrants 4.1.6.2. Bargaining Power of Buyers/Consumers 4.1.6.3. Bargaining Power of Suppliers 4.1.6.4. Threat of Substitute Products 4.1.6.5. Intensity of Competitive Rivalry 4.1.7. Value Chain Analysis 4.1.8. Technological Roadmap 4.1.9. Regulatory landscape 4.1.10. Impact of the Covid-19 Pandemic on the Global Cooling Tower Market 5. Supply Side and Demand Side Indicators 6. Global Cooling Tower Market Analysis and Forecast, 2022-2029 6.1. Global Cooling Tower Market Size & Y-o-Y Growth Analysis. 7. Global Cooling Tower Market Analysis and Forecasts, 2022-2029 7.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 7.1.1. Open-circuit 7.1.2. Closed-circuit 7.1.3. Hybrid 7.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 7.2.1. Fiber-Reinforced Plastic (FRP) 7.2.2. Steel 7.2.3. Concrete 7.2.4. Wood 7.2.5. High-Density Polyethylene (HDPE) 7.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 7.3.1. HVAC 7.3.2. Power Generation 7.3.3. Oil & Gas 7.3.4. Industrial 8. Global Cooling Tower Market Analysis and Forecasts, By Region 8.1. Market Size (Value) Estimates & Forecast By Region, 2022-2029 8.1.1. North America 8.1.2. Europe 8.1.3. Asia-Pacific 8.1.4. Middle East & Africa 8.1.5. South America 9. North America Cooling Tower Market Analysis and Forecasts, 2022-2029 9.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 9.1.1. Open-circuit 9.1.2. Closed-circuit 9.1.3. Hybrid 9.2. Other Seals Market Size (Value) Estimates & Forecast By Material, 2022-2029 9.2.1. Fiber-Reinforced Plastic (FRP) 9.2.2. Steel 9.2.3. Concrete 9.2.4. Wood 9.2.5. High-Density Polyethylene (HDPE) 9.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 9.3.1. HVAC 9.3.2. Power Generation 9.3.3. Oil & Gas 9.3.4. Industrial 10. North America Cooling Tower Market Analysis and Forecasts, By Country 10.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 10.1.1. US 10.1.2. Canada 10.1.3. Mexico 11. U.S. Cooling Tower Market Analysis and Forecasts, 2022-2029 11.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 11.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 11.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 12. Canada Cooling Tower Market Analysis and Forecasts, 2022-2029 12.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 12.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 12.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 13. Mexico Cooling Tower Market Analysis and Forecasts, 2022-2029 13.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 13.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 13.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 14. Europe Cooling Tower Market Analysis and Forecasts, 2022-2029 14.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 14.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 14.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 15. Europe Cooling Tower Market Analysis and Forecasts, By Country 15.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 15.1.1. U.K 15.1.2. France 15.1.3. Germany 15.1.4. Italy 15.1.5. Spain 15.1.6. Sweden 15.1.7. CIS Countries 15.1.8. Rest of Europe 16. U.K. Cooling Tower Market Analysis and Forecasts, 2022-2029 16.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 16.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 16.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 17. France Cooling Tower Market Analysis and Forecasts, 2022-2029 17.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 17.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 17.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 18. Germany Cooling Tower Market Analysis and Forecasts, 2022-2029 18.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 18.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 18.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 19. Italy Cooling Tower Market Analysis and Forecasts, 2022-2029 19.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 19.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 19.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 20. Spain Cooling Tower Market Analysis and Forecasts, 2022-2029 20.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 20.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 20.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 21. Sweden Cooling Tower Market Analysis and Forecasts, 2022-2029 21.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 21.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 21.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 22. CIS Countries Cooling Tower Market Analysis and Forecasts, 2022-2029 22.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 22.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 22.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 23. Rest of Europe Cooling Tower Market Analysis and Forecasts, 2022-2029 23.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 23.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 23.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 24. Asia Pacific Cooling Tower Market Analysis and Forecasts, 2022-2029 24.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 24.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 24.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 25. Asia Pacific Cooling Tower Market Analysis and Forecasts, by Country 25.1. Market Size (Value) Estimates & Forecast By Country, 2022-2029 25.1.1. China 25.1.2. India 25.1.3. Japan 25.1.4. South Korea 25.1.5. Australia 25.1.6. ASEAN 25.1.7. Rest of Asia Pacific 26. China Cooling Tower Market Analysis and Forecasts, 2022-2029 26.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 26.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 26.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 27. India Cooling Tower Market Analysis and Forecasts, 2022-2029 27.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 27.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 27.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 28. Japan Cooling Tower Market Analysis and Forecasts, 2022-2029 28.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 28.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 28.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 29. South Korea Cooling Tower Market Analysis and Forecasts, 2022-2029 29.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 29.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 29.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 30. Australia Cooling Tower Market Analysis and Forecasts, 2022-2029 30.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 30.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 30.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 31. ASEAN Cooling Tower Market Analysis and Forecasts, 2022-2029 31.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 31.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 31.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 32. Rest of Asia Pacific Cooling Tower Market Analysis and Forecasts, 2022-2029 32.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 32.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 32.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 33. Middle East Africa Cooling Tower Market Analysis and Forecasts, 2022-2029 33.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 33.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 33.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 34. Middle East Africa Cooling Tower Market Analysis and Forecasts, by Country 34.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 34.1.1. South Africa 34.1.2. GCC Countries 34.1.3. Egypt 34.1.4. Nigeria 34.1.5. Rest of ME&A 35. South Africa Cooling Tower Market Analysis and Forecasts, 2022-2029 35.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 35.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 35.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 36. GCC Countries Cooling Tower Market Analysis and Forecasts, 2022-2029 36.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 36.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 36.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 37. Egypt Cooling Tower Market Analysis and Forecasts, 2022-2029 37.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 37.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 37.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 38. Nigeria Cooling Tower Market Analysis and Forecasts, 2022-2029 38.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 38.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 38.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 39. Rest of ME&A Cooling Tower Market Analysis and Forecasts, 2022-2029 39.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 39.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 39.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 40. South America Cooling Tower Market Analysis and Forecasts, 2022-2029 40.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 40.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 40.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 41. South America Cooling Tower Market Analysis and Forecasts, by Country 41.1. Market Size (Value) Estimates & Forecast by Country, 2022-2029 41.1.1. Brazil 41.1.2. Argentina 41.1.3. Rest of South America 42. Brazil Cooling Tower Market Analysis and Forecasts, 2022-2029 42.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 42.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 42.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 43. Argentina Cooling Tower Market Analysis and Forecasts, 2022-2029 43.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 43.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 43.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 44. Rest of South America Cooling Tower Market Analysis and Forecasts, 2022-2029 44.1. Market Size (Value) Estimates & Forecast By Type, 2022-2029 44.2. Market Size (Value) Estimates & Forecast By Material, 2022-2029 44.3. Market Size (Value) Estimates & Forecast By Application, 2022-2029 45. Competitive Landscape 45.1. Geographic Footprint of Major Players in the Global Cooling Tower Market 45.2. Competition Matrix 45.2.1. Competitive Benchmarking of Key Players By Price, Presence, Market Share, Applications and R&D Investment 45.2.2. New Product Launches and Product Enhancements 45.2.3. Market Consolidation 45.2.3.1. M&A by Regions, Investment and Verticals 45.2.3.2. M&A, Forward Integration and Backward Integration 45.2.3.3. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements 45.3. Company Profile : Key Players 45.3.1. B&W SPIG (Babcock & Wilcox) 45.3.1.1. Company Overview 45.3.1.2. Financial Overview 45.3.1.3. Geographic Footprint 45.3.1.4. Product Portfolio 45.3.1.5. Business Strategy 45.3.1.6. Recent Developments 45.3.2. Baltimore Aircoil Company (BAC) 45.3.3. Cenk Industrial Plants Manufacturing and Contracting 45.3.4. Cooling Towers Systems; Inc. 45.3.5. Delta Cooling Towers 45.3.6. Engie Refrigeration GmbH 45.3.7. Hamon & CIE SA 45.3.8. Johnson Controls Inc 45.3.9. Mesan Cooling Towers Ltd 45.3.10. Bell Cooling Tower 45.3.11. Brentwood Industries Inc. 45.3.12. Enexio 45.3.13. Paharpur Cooling Towers 45.3.14. SPIG S.p.A 45.3.15. Star Cooling Towers Private Ltd 45.3.16. Other Key Players 46. Primary Key Insights