Cooling Tower Market (By Product: Evaporative/Wet, Dry, Hybrid; By Technology: Open circuit, Closed circuit, Hybrid; By Design: Mechanical, Natural; By Build: Field erection, Package; By Construction Material: Concrete, Steel, FRP, Wood, Others; By Flow: Counterflow, Crossflow; By Application: Chemical & Fertilizers, Oil & Gas, Power Generation, HVACR, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026
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Introduction
Cooling tower is the device used for the temperature maintenance in the chillers for various industrial applications. This device is generally used in the power generation and manufacturing industries in order to keep the environment cool and fresh. With the use of cooling tower, the heat regulation can be controlled in air conditioning systems which boosting the demand for cooling towers across the globe. The cooling tower is used for a large number of applications such as HVACR, power generation, food and beverage, manufacturing industry and others. The report provides analysis of global cooling tower market for the period 2016-2026, wherein 2018 to 2026 is the forecast period and 2017 is considered as the base year. The global cooling tower market is anticipated to grow at substantial CAGR above 4% throughout the forecast period. Furthermore, Market players are primarily focusing on developing new innovative technologies that will supplement growth of the cooling tower market.
Market Dynamics
Rising demand in the air conditioning, construction, power generation and manufacturing industries, advantages offered by cooling tower, growing technological advancements in the cooling towers and increasing deployment of HVACR systems are some of the fundamental factors that are driving the global cooling tower market growth globally. Growing investments toward technological developments in order to improve the communication efficiency capacity and flexibility in design are expected to amplify the demand for cooling towers. Rising consumption of HVACR systems across the commercial organizations with the high funding in industrial development is expected to propel the cooling tower market growth over the forecast period. Additionally, the rapid growth in the construction industry has increased the demand for cooling towers, resulting the rapid growth of the global cooling tower market. However, the primitive nature of numerous industrial units, especially in the emerging economies, is anticipated to hamper the growth of the global cooling towers market.
Market Segmentation
Cooling Tower Market, By Product
- Evaporative/Wet
- Dry
- Hybrid
Cooling Tower Industry, By Technology
- Open circuit
- Closed circuit
- Hybrid
Cooling Tower Market, By Design
- Mechanical
- Natural
Cooling Tower Industry, By Build
- Field erection
- Package
Cooling Tower Market, By Construction Material
- Concrete
- Steel
- FRP
- Wood
- Others
Cooling Tower Industry, By Flow
- Counterflow
- Crossflow
Cooling Tower Market, By Application
- Chemical & Fertilizers
- Oil & Gas
- Power Generation
- HVACR
- Others
Global Cooling tower Market, by Geography
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest of Asia-Pacific
- Latin America
- Brazil
- Chile
- Rest of Latin America
- Middle East and Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of MEA
The market research study on “Cooling Tower Market (By Product: Evaporative/Wet, Dry, Hybrid; By Technology: Open circuit, Closed circuit, Hybrid; By Design: Mechanical, Natural; By Build: Field erection, Package; By Construction Material: Concrete, Steel, FRP, Wood, Others; By Flow: Counterflow, Crossflow; By Application: Chemical & Fertilizers, Oil & Gas, Power Generation, HVACR, Others) - Global Industry Analysis, Market Size, Opportunities and Forecast, 2018 - 2026” offers a detailed insights on global cooling tower market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report provides insights on global cooling tower market by technology, design, build, construction material, application and major geographic regions.
Market Participants
The global cooling tower market is characterized by the presence of experienced and established players. Some of the key players include Paharpur Cooling Tower, ENEXIO, Baltimore, SPIG, Thermax, Haman, Johnson Controls, SPX Cooling, Delta, Thermal Care, ReymsaBERG, Bell Cooling Tower, International Cooling, ENGIE, Brentwood, Star Cooling and Perfect Cooling Tower.