Selbyville, Delaware, Aug. 31, 2021 (GLOBE NEWSWIRE) --
The industrial cooling system market valuation is forecast to cross US$ 25 billion by 2027, according to Global Market Insights Inc. report. Ongoing technological advancements in industrial cooling systems that ensure energy-efficient cooling of IT components is augmenting the industry growth.
Hybrid coolers combine evaporative and dry cooling to maximize energy efficiency while also reducing water consumption. Increasing demand for evaporative cooling systems that use less energy & water and ensure environmental-friendly operations is influencing the development of hybrid cooling technologies. The crossflow design and dry operation mode of hybrid coolers reduce operating & maintenance costs while offering layout flexibility compared to traditional evaporative fluid coolers.
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The hybrid cooling system can be operated in different modes to reduce energy and water consumption, thus fueling their adoption in industries. Government organizations are mandating utility/power plant operators to cut down water consumption, fueling the demand for hybrid industrial cooling systems, in turn, will further boost the market growth.
New product launches form a key strategy amongst companies to solidify their market position and expand solution offerings. For instance, in December 2018, Brentwood Industries, Inc. launched two new cooling tower fill products, ShockWave & ThermaCross. These are primarily designed for power plants and refineries. In applications with contaminated water, such as power plants, refineries & steel mills, ShockWave maximizes evaporative heat transfer. ThermaCross can be utilized in a variety of clean water applications such as HVAC, district cooling, and treated industrial operations.
Some major findings of the industrial cooling system market report are:
The increasing use of cooling systems in nuclear power generation plants will drive market growth. The cooling system forms a vital aspect in nuclear plants as it helps in efficient power generation. To attain the required heat discharge, power plants typically deploy various wet cooling techniques that use water to transfer heat to a nearby water body or the air through evaporation.
The rising adoption of evaporative cooling systems across several end-use industries will support the market growth. Evaporative cooling, particularly the two-stage technology, offers environmental-friendly & sustainable cooling and ventilation to industrial facilities. Evaporative cooling technology uses 100% fresh filtered outside air to cool down the facility, considerably improving the indoor air quality and ensuring a comfortable work environment.
Increasing adoption of hybrid cooling systems that ensure reduced water consumption is propelling the market growth. These systems are widely used in process cooling, data centers, HVAC applications with water-cooled chillers, and power generation.
Refineries and chemical processing plants are witnessing an increasing adoption of cooling systems to address their specific cooling requirements. Heavy industrial applications, such as chemical processing and oil-and-gas refining, deploy cooling towers to cool the water that is vital to their operations. As challenging market conditions and environmental regulations place higher demands on these industries, enhanced cooling technologies are emerging to address these challenges.
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To deploy smart solutions, key players in the industry are focusing on long-term collaborations with private and government organizations. Key players are also focusing on developing organic and inorganic growth strategies to sustain in the market.
Partial chapters of report table of contents (TOC):
Chapter 3 Industrial Cooling System Industry Insights
3.1 Industry segmentation
3.2 Impact of coronavirus (COVID-19) pandemic
3.2.1 Global outlook
3.2.2 Regional outlook
3.2.2.1 North America
3.2.2.2 Europe
3.2.2.3 Asia Pacific
3.2.2.4 Latin America
3.2.2.5 MEA
3.2.3 Industry value chain
3.2.3.1 Component suppliers
3.2.3.2 Raw material suppliers
3.2.3.3 Manufacturers
3.2.4 Competitive landscape
3.2.4.1 Strategy
3.2.4.2 Marketing
3.2.4.3 Business growth
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Component suppliers
3.3.3 Manufacturers
3.3.4 Technology/software providers
3.3.5 System integrators
3.3.6 Service providers
3.3.7 Distributors
3.3.8 Vendor matrix
3.3.8.1 Raw material suppliers
3.3.8.2 Component suppliers
3.3.8.3 Manufacturers
3.3.8.4 Technology/software providers
3.3.8.5 System integrators
3.3.8.6 Service providers
3.3.8.7 Distributors
3.4 New installation vs replacement demand
3.4.1 New installation and replacement trends
3.4.2 Market share, by demand, 2020 & 2027
3.5 Technology & innovation landscape
3.6 Regulatory landscape
3.6.1 North America
3.6.2 Europe
3.6.3 Asia Pacific
3.6.4 Latin America
3.6.5 MEA
3.7 Industry impact forces
3.7.1 Growth drivers
3.7.1.1 Technological advancements in industrial cooling systems
3.7.1.2 Demand for cooling systems from nuclear power generation
3.7.1.3 Adoption of energy efficient cooling system in North America and Latin America
3.7.1.4 Rising demand of cooling system from food & beverage and pharmaceutical industry in Europe
3.7.1.5 Extreme climate conditions in Asia Pacific and Middle East & Africa
3.7.1.6 Supportive government policies for sustainable systems in North America, Europe, and Asia Pacific
3.7.2 Industry pitfalls & challenges
3.7.2.1 High water consumption
3.7.2.2 Need for high capital investment for setting up cooling towers
3.7.2.3 Issues related to structural stability
3.8 Growth potential analysis
3.9 Porter’s analysis
3.9.1 Supplier power
3.9.2 Buyer power
3.9.3 Threat of new entrants
3.9.4 Threat of substitutes
3.9.5 Internal rivalry
3.10 PESTEL analysis
3.10.1 Political
3.10.2 Economical
3.10.3 Social
3.10.4 Technological
3.10.5 Environmental
3.10.6 Legal
Chapter 4 Competitive Landscape,
4.1 Introduction
4.2 Competitive analysis of major players
4.2.1 Emerson Electric Co.
4.2.2 EVAPCO, Inc.
4.2.3 GEA Group Aktiengesellschaft
4.2.4 Hamon Group
4.2.5 Johnson Controls Inc
4.2.6 Schneider Electric SE
4.2.7 SPX Corporation
4.3 Competitive analysis of other prominent players
4.3.1 Baltimore Aircoil Company Inc.
4.3.2 ENEXIO MANAGEMENT GMBH
4.3.3 Paharpur Cooling Towers Limited
4.3.4 Vertiv Group Corporation
4.4 Vendor adoption matrix
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
