Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The "Cooling Towers - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Cooling Towers Market to Reach $5.2 Billion by 2030
The global market for Cooling Towers estimated at US$3.6 Billion in the year 2022, is projected to reach a revised size of US$5.2 Billion by 2030, growing at a CAGR of 4.6% over the analysis period 2022-2030. Wet Towers, one of the segments analyzed in the report, is projected to record a 5.2% CAGR and reach US$3.3 Billion by the end of the analysis period. Growth in the Dry Towers segment is estimated at 3.4% CAGR for the next 8-year period. 
The U.S. Market is Estimated at $983.3 Million, While China is Forecast to Grow at 6.7% CAGR
The Cooling Towers market in the U.S. is estimated at US$983.3 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$453.1 Million by the year 2030 trailing a CAGR of 6.7% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.6% and 4.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR.
What`s New?
- Special discussions on the global economic climate and market sentiment
- Coverage on global competitiveness and key competitor percentage market shares
- Market presence analysis across multiple geographies - Strong/Active/Niche/Trivial
- Online interactive peer-to-peer collaborative bespoke updates
- Access to digital archives and research platform
- Complimentary updates for one year
- Access to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 494 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $3.6 Billion |
| Forecasted Market Value (USD) by 2030 | $5.2 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
MARKET OVERVIEW
- Global Economic Update
- Weak Global Economic Environment Dents Market Growth During Pandemic Years
- Competitive Scenario
- Select Innovations & Advancements
- Competitive Market Presence - Strong/Active/Niche/Trivial for 118 Players Worldwide in 2023 (E)
- A Popular Type of Heat Exchanger, Cooling Towers Play Key Role in Industrial Process Heat Management
- A Critical Capital Investment for Industries Where Cooling Forms an Important Part of Production/Manufacturing Processes, Cooling Towers Represents One of the Largest Segments of the Heat Exchangers Market
- Global Market Prospects & Outlook
- Pandemic Impact on the Cooling Towers Market
- Growth Constraints
- Corrosion and Scaling: A Major Challenge
- Regional Analysis
- Cooling Towers: Product Overview
- Classification of Cooling Towers
- Cooling Tower Applications in key End-Use Segments
- Regulations Impacting the Industry
- Recent Market Activity
- Select Global Brands
MARKET TRENDS & DRIVERS
- Artificial Intelligence & Electronification of Controls Make Disruptive Impact on Cooling Tower Performance Monitoring & Operation
- Growing Prominence of Robotic & Intelligent Process Automation in the Era of Smart Factories to Drive the Commercial Value of Cooling Towers with Electronic Controls
- Machine Learning Techniques Improve Efficiency of Cooling Towers
- As Hidden Profit Centers, Energy Efficient Cooling Towers Grow in Prominence
- Energy Efficient Cooling Towers Win the Race Against the Backdrop of Growing Popularity of Energy Audits & the Ensuing Spotlight on Cooling Towers as the Most Neglected Process Equipment With the Potential for Energy Optimization
- Undeniable Productivity Benefits of Industrial Energy Efficiency Measures to Spur the Commercial Value of Energy Efficient Cooling Towers
- Medley of Factors Dole Out Challenges & Opportunities in Equal Measure for Cooling Towers in the Global Oil Refining Market
- With Growth Skewed Towards Alternative Liquid Fuels, Oil Refineries Face a High Risk Exposure as the Oil Shake Up Marks the Transition Towards a Low Carbon Economy
- Cornering a Large Percentage of New Refining Capacity Additions, Developing Regions & the USA Emerge as Lucrative Pockets of Growth for Cooling Towers in the Oil Refining Sector
- COVID-19 Impact on the Oil & Gas Industry
- Recovery in Construction Activity Spurs Demand for Rooftop Packaged HVAC Cooling Towers
- Steady Gains in Construction Industry & Mandatory Building Energy Efficiency Provisions to Drive Opportunities for HVAC Cooling Towers
- Cooling Towers Emerge Into a More Desirable Solution for HVAC Cooling Needs in Buildings Supported by the Smart Connectivity Benefits Offered by Building Automation Systems (BAS)
- Rising Global Energy Needs Drives Stable Growth of Cooling Towers in the Power Generation/Utilities Sector
- As the Icon of Thermal Energy Generation, Large Cooling Towers Continue to Find Attractive Opportunities in Coal Fired Power Plants
- Focus on Renewable Energy: A Double Win for Cooling Towers in the Energy Sector
- Expected Revival of Nuclear Energy to Drive Opportunities in the Cooling Towers Market
- Nuclear Power to Drive Demand for Cooling Towers
- Evaporative Credits Offered by Utilities Strengthens the Business Case for the Use of Cooling Towers
- Uncertainties Resurface After Two Years of Recovery in the Mining Industry, Throwing Mine Cooling Towers Back Into Stress
- As Deep Mines Begin to Invade the Earth's Forbidden Zone, Efficient Mine Cooling Towers Will Grow in Prominence Over the Long-Term Period
- Healthy Outlook for the World Chemical Industry Extends a Fillip to Cooling Towers Demand
- Healthy Market for Processed Food to Benefit Demand for Cooling Towers in the Food Processing Sector
- Food Processing Cooling Tower: A Review of Recent Advancements
- Stringent Environmental Norms & Worsening Water Shortages Drive Demand for Closed Circuit Dry Cooling Towers
- Advancements in Water Treatment Processes
- Effective Use of New Technologies for Cooling Towers' Optimal Operation
- Cooling Tower Rental Market on a Growth Path
- Hybrid Cooling Towers Rise in Importance & Commercial Value
- Current State of Hybrid Cooling Towers Market
- Technology Innovations Remain Critical to Growth
- Saving Water Through Vapor-Collection Technology
- Next-generation Factory Assembled Cooling Towers to Positively Impact Bottom Line of HVAC and Industrial Processes
- Modular Cooling Towers for Use Across Industries: Krones VapoChill, A Case in Point
- Advancements in Plume Abatement Technologies and Drift Eliminators to Address Environmental Concerns
- New Design and Material Innovations Increase Cooling Efficiency
- Electric Pulse Technology, an Alternative to Water Treatment Chemicals in Cooling Towers
- A Review of Innovations in Construction Materials for Cooling Towers
- Power Transmission Technologies in Cooling Tower
- Study on Water Efficiency for Cooling Technology
- Research to Overcome the Excessive Water Consumption Barrier
- Changes in Cooling Water Treatment Processes
- Reducing Cooling Tower Maintenance Through Automation
FOCUS ON SELECT PLAYERS(Total 118 Featured)
- Babcock & Wilcox Enterprises, Inc.
- Baltimore Aircoil Company
- AEC Group
- BERG Chilling Systems, Inc.
- CASE Group
- Delta Cooling Towers, Inc.
- C. E. Shepherd Company, L.P.
- Aggreko
- Brentwood Industries, Inc.
- Conair Group
- Cooling Tower Depot, Inc.
- Advance Cooling Tower Pvt., Ltd.
- Boldrocchi Srl
- Bell Cooling Towers
- Deltatherm Hirmer GmbH
For more information about this report visit https://www.researchandmarkets.com/r/9ubtsf
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