Dublin, July 10, 2024 (GLOBE NEWSWIRE) -- The "Cooling Towers - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Cooling Towers was valued at an estimated US$3.8 Billion in 2023 and is projected to reach US$5.2 Billion by 2030, growing at a CAGR of 4.6% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the cooling towers market is driven by several factors, reflecting the increasing industrialization and urbanization worldwide. One significant driver is the rising demand for energy-efficient cooling solutions in power plants and industrial facilities, prompted by stringent environmental regulations and the need to reduce operational costs.
The expansion of the HVAC sector, fueled by growing commercial construction activities and the need for enhanced indoor climate control, also boosts the demand for cooling towers. Technological advancements, such as the adoption of smart cooling systems and the development of hybrid cooling towers, are further propelling market growth by providing more efficient and sustainable solutions.
Additionally, the push towards green building standards and certifications encourages the incorporation of advanced cooling technologies that align with sustainability goals. The ongoing modernization of aging infrastructure in developed economies and the rapid industrial growth in emerging markets ensure a steady demand for new and upgraded cooling tower installations, driving the continuous expansion of the market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Wet Towers segment, which is expected to reach US$3.3 Billion by 2030 with a CAGR of a 5.1%. The Dry Towers segment is also set to grow at 3.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $1.0 Billion in 2023, and China, forecasted to grow at an impressive 6.7% CAGR to reach $453.1 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Cooling Towers Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Cooling Towers Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Cooling Towers Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Artech Cooling Towers Pvt. Ltd., Babcock & Wilcox Enterprises, Inc., Baltimore Aircoil Company Inc., and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 494 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $3.8 Billion |
| Forecasted Market Value (USD) by 2030 | $5.2 Billion |
| Compound Annual Growth Rate | 4.6% |
| Regions Covered | Global |
MARKET OVERVIEW
- Select Innovations & Advancements
- Cooling Towers - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (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
- 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)
- Although Declining in Numbers, the Growing Size of an Average Datacenter Due to the Ongoing Consolidation Trend Will Offer Opportunities for Evaporative Cooling Towers
- Higher Energy Benefits Over & Above Air-Cooled Chiller Plants to Drive Demand for Water Cooled Chillers with Integrated Cooling Towers in Datacenters
- 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
- Robust Outlook for Clean Coal Power to Drive Demand for Power Plant Cooling Towers
- Focus on Renewable Energy: A Double Win for Cooling Towers in the Energy Sector
- Dry Cooling Towers & Hybrid Wet/Dry Cooling Towers Emerge Into the Spotlight as CSPs Boxed In Water Scarcity Issues, Embark on the Quest for Water Conservation
- Robust Outlook for Renewables to Echo Downstream Into the Cooling Towers Market
- Expected Revival of Nuclear Energy to Drive Opportunities in the Cooling Towers Market
- With 507 Operational & Under Construction Nuclear Reactors, Demand for Cooling Towers in Nuclear Power Plants is Poised for Growth in the Medium to Long Term Period
- Nuclear Power to Drive Demand for Cooling Towers
- Evaporative Credits Offered by Utilities Strengthens the Business Case for the Use of Cooling Towers
- As the Costs of Owning & Operating a Plant Becomes Expensive, Cooling Towers with Their Low Water Drainage Loss Emerge Attractive for Obtaining Water Evaporation Credits: Water Loss from Cooling Towers (In Gallons Per Minute (GPM) Breakdown by Evaporative, Blowdown & Drift Losses
- 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
- With Annualized Exploration Spending Growth Beginning to Recede Tempered Outlook Makes a Comeback for Mine Cooling Towers
- Healthy Outlook for the World Chemical Industry Extends a Fillip to Cooling Towers Demand
- Projected Stability in Capital Spending in the Chemical Industry Provides Opportunities for New and Replacement Demand for Cooling Towers
- Healthy Market for Processed Food to Benefit Demand for Cooling Towers in the Food Processing Sector
- As the Hidden Workhorses of Heating and Cooling in the Food & Beverage Industry, Demand for Cooling Towers Benefits from the Growing Demand for Packaged Food
- 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
- Growing Popularity of Hybrid Cooling Towers as Measured by their Growing Share in the Cooling Towers Rental Space as an Illustrative Case in Point
- 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)
- Artech Cooling Towers Pvt. Ltd.
- Babcock & Wilcox Enterprises, Inc.
- Baltimore Aircoil Company Inc.
- Bell Cooling Tower
- BERG Chilling Systems, Inc.
- Brentwood Industries, Inc.
- Composite Cooling Solutions L.P
- Cooling Tower Depot, Inc.
- Cooling Tower Systems, Inc.
- Delta Cooling Towers, Inc.
- ENEXIO Management GmbH
- EVAPCO, Inc.
- EWK Equipos de Refrigeracion, S.A.
- FANS a.s.
- ILMED IMPIANTI SRL
- JACIR - GOHL
- JAEGGI Hybridtechnologie AG
- Johnson Controls Inc.
- Kelvion Holding GmbH
- Krones AG
- Liang Chi Industry (THAILAND) Co., Ltd.
- Mastertech Services Inc.
- MESAN Group
- MITA Cooling Technologies Srl
- Paharpur Cooling Tower Limited
- REYMSA COOLING TOWERS, INC.
- Ryowo Holding Co., Ltd.
- S.A. HAMON
- SPX Cooling Technologies, Inc.
- Star Cooling Tower Pvt. Ltd.
- Superchill Australia Pty Ltd.
- Thermal Care Inc.
For more information about this report visit https://www.researchandmarkets.com/r/2dd742
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