The Cooling tower market was USD 2.24 Billion in 2016 and is projected to reach USD 2.87 Billion by 2020, at a CAGR of 4.2% from 2015 to 2020. In this study, 2016 has been considered as the base year, while the forecast period has been considered from 2017 to 2020.
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Cooling tower is a heat rejection device that removes the unwanted heat from the cooling system in the atmosphere. Cooling tower is used to cool the water circulating in the cooling system. The circulating water is cooled either by evaporation or by blowing air to the warm water. Cooling towers are widely used in different industries such as chemical, oil and gas, food processing, power generation plants and other air-conditioning applications. Cooling towers help in saving large amount of water as it cools and circulates water continuously throughout the cooling system. Rising need for energy efficient cooling towers across different industries is the major factor driving the cooling towers market globally. Furthermore, growing manufacturing industry and large number of upcoming power plant projects are further to bolster the demand for cooling towers during the forecast period.
The cooling towers market is segmented based on the types of cooling towers, heat transfer method, applications and geographic regions. The basic types of cooling towers are open cooling towers and closed circuit cooling towers. Different heat transfer methods used in cooling towers are evaporative cooling, dry cooling and hybrid (a combination of evaporative and dry cooling method) cooling method. The cooling towers market is segmented based on its applications as Heating, ventilation, and air conditioning (HVAC), power generation utilities and manufacturing industries. On the basis of geographic regions, cooling towers market is segmented into Western Europe, Eastern Europe, Asia Pacific excluding Far East, Southern Africa, North America and Rest of the World (RoW). RoW comprises South America, Middle East, North Africa and Far East.
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The research report on the cooling towers market provides a detailed analysis of types and heat transfer methods used in these towers and helps in understanding the major driving forces of cooling towers in different industries. It also provides analysis of the applications of cooling towers market for the next five years. The report includes extensive analysis of the industry drivers, restraints, market trends and market structure. The market study provides comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates cooling towers market based on heat transfer methods used in cooling towers and different geographic regions. The report includes a detailed analysis of the prevalent market situation, company profiles and industry trends of the cooling towers used across different industrial and commercial applications.
The detailed value chain analysis helps the market competitors to formulate their business strategies at every stage of their business. Moreover, the market estimates have been analyzed by keeping in mind the several factors which affect the market including but not limited to technological, economical, social, environmental and legal.
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The key players of cooling towers market have been profiled with a focus on competitive details such as company and financial overview, business strategies and their recent developments. The players profiled in this report include GEA Heat Exchangers Group, Baltimore Aircoil Company, SPIG S.p.A., Hamon Group (Esindus S.A.), SPX Corporation, FANS, a.s., EVAPCO-BLCT Dry Cooling, Inc. (Evapco, Inc.), Paharpur Cooling Towers Ltd., Liang Chi Industry Company Cooling Tower Depot, Inc., Delta Cooling Towers, Inc., Torraval Cooling S.L., Kimre, Inc., OOO TMIM, BROTEP-ECO, Cenk Endüstri Tesisleri Ä°malat ve Taahhüt A.Åž., EvapTech, Inc., and Changzhou Kwell Cooling Equipment Co., Ltd.
Global Cooling Towers Market Segmentation:
Cooling Towers Market Revenue, by Type
Open Cooling Towers
Closed Circuit Cooling Towers
Global Cooling Towers Market Revenue, By Heat Exchange Method
Dry Cooling Towers
Plume Abatement (Hybrid)
Global Cooling Towers Market Revenue, By Application
Power Generation Utilities
Global Cooling Towers Market Revenue, By Geography
Asia Pacific (Excluding Far East)
Rest of the World (Middle East, South America, North Africa and Far East)
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