Cooling towers market
Cooling Towers Market, By Type (Open Cooling Tower and Closed Circuit Cooling Tower), By Heat Transfer Method (Evaporative Cooling, Dry Cooling and Plume Abatement (Hybrid)), and By Application (Air-Conditioning, Power Generation Utilities and Manufacturing Industry), and By Region (North America, Latin America, Europe, APAC and Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
- Dec 2022
- CMI4115
- 130 Pages
- Excel & Pdf
- Smart Technologies
A cooling tower is a heat rejection device that rejects waste heat to the atmosphere through the cooling of a water stream to lower temperature. Cooling tower is used to cool the water circulating in the cooling system. It is a heat rejection device that removes unwanted heat from the cooling system in the atmosphere. The circulating water is cooled either by evaporation or by blowing air to the warm water. There are two types of cooling towers namely open cooling towers and closed-circuit cooling towers. Cooling towers are widely used in different industries such as chemical, oil and gas, food processing, power generation plants, and other air-conditioning applications.
The Global Cooling Towers Market was valued for US$ 3243.1 Mn in 2021 is expected to exhibit a CAGR of 5.9% during the forecast period.
Recent Developments:
- In January 2021, SPIG S.p.A, a part of Babcock & Wilcox Enterprises, Inc., announced its expansion initiatives in Asia and Middle East by introducing two new contracts, that include the design and supply of SPIG S.p.A. cooling system technologies.
Restraint:
- Fragmented market worldwide is expected to hinder the global cooling towers market growth over the forecast period
- The requirement of a large quantity of water is expected to restrain growth of the global cooling towers market during the forecast period
Global Cooling Towers Market - Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 pandemic has majorly affected the manufacturing industries around the globe. Owing to COVID-19, many countries such as India and Spain have imposed nationwide lockdown. Due to the Lockdown, there was a shortage of workers at the manufacturing facilities. And also due to the less manpower, the manufacturing facilities were struggling to move the products. So the Cooling towers which are generally used in manufacturing facilities to remove unwanted heat from the system saw slow growth during the pandemic.
Cooling Towers Market Report Coverage
Report Coverage | Details | ||
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Base Year: | 2021 | Market Size in 2021: | US$ 3,243.1 Mn |
Historical Data for: | 2017 to 2020 | Forecast Period: | 2022 to 2030 |
Forecast Period 2022 to 2030 CAGR: | 5.9% | 2030 Value Projection: | US$ 5,334.2 Mn |
Geographies covered: |
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Segments covered: |
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Companies covered: |
Absolute Cooling Tower Services Ltd., ESINDUS S.A (Hamon Group), Paharpur Cooling Towers Limited, FANS a.s., SPIG S.p.A, LIANG CHI INDUSTRY (THAILAND) CO., LTD., Delta Cooling Towers, Inc., SPX Corporation, Cooling Tower Depot, Inc., and Superchill Australia Pty Ltd. |
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Growth Drivers: |
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Restraints & Challenges: |
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Asia Pacific held a dominant position in the global cooling towers market in 2021
Statistics:
Asia Pacific region dominated the global cooling towers market in 2021, accounting for a 26.5% share in terms of value, followed by Europe, and North America, respectively.
Figure 1: Global Cooling Towers Market Share (%), By Region, 2021
Asia Pacific cooling towers market is expected to be one of the prominent region in the global market and witness high growth during the forecast period. This is owing to increasing demand for cooling towers in emerging economies such as South Korea, India, and China. Moreover, rapid industrialization, high disposable income, and high growth of industrial sectors. It is expected to boost the regional market growth.
Figure 2: Global Cooling Towers Market (US$ Mn) Analysis and Forecast, 2022 - 2030
The global cooling towers market was valued at US$ 3,243.1 Mn in 2021 and is expected to reach US$ 5,334.2 Mn by 2030, growing at a CAGR of 5.9% between 2022 and 2030.
Major players operating in the global cooling towers market include Absolute Cooling Tower Services Ltd., ESINDUS S.A (Hamon Group), Paharpur Cooling Towers Limited, FANS a.s., SPIG S.p.A, LIANG CHI INDUSTRY (THAILAND) CO., LTD., Delta Cooling Towers, Inc., SPX Corporation, Cooling Tower Depot, Inc., and Superchill Australia Pty Ltd.
Table of Contents
- Research Objectives and Assumptions
- Research Objectives
- Assumptions
- Abbreviations
- Market Purview
- Report Description
- Market Definition and Scope
- Executive Summary
- Market Snippet, By Type
- Market Snippet, By Heat Transfer Method
- Market Snippet, By Application
- Market Snippet, By Region
- Coherent Opportunity Map (COM)
- Report Description
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Regulatory Scenario
- Industry Trend
- Merger and Acquisitions
- New system Launch/Approvals
- Impact of COVID-19 Pandemic
- Market Dynamics
- Global Cooling Towers Market, By Type, 2017-2030 (US$ Million)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Segment Trends
- Open Cooling Tower
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Closed Circuit Cooling Tower
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Market Size and Forecast, 2017–2030, (US$ Million)
- Introduction
- Global Cooling Towers Market, By Heat Transfer Method, 2017-2030 (US$ Million)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Segment Trends
- Evaporative Cooling
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Dry Cooling
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Plume Abatement (Hybrid)
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Introduction
- Global Cooling Towers Market, By Application, 2017-2030 (US$ Million)
- Introduction
- Market Share Analysis, 2022 and 2030 (%)
- Segment Trends
- Air-Conditioning
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Power Generation Utilities
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Manufacturing Industry
- Introduction
- Market Size and Forecast, 2017–2030, (US$ Million)
- Introduction
- Global Cooling Towers Market, By Region, 2017-2030 (US$ Million)
- Introduction
- Market Share Analysis, By Region, 2022 and 2030 (%)
- North America
- Regional Trends
- Market Size and Forecast, By Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By Heat Transfer Method, 2017–2030 (US$ Million)
- Market Size and Forecast, By Application, 2017–2030 (US$ Million)
- Market Share Analysis, By Country, 2022 and 2030 (%)
- U.S.
- Canada
- Europe
- Regional Trends
- Market Size and Forecast, By Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By Heat Transfer Method, 2017–2030 (US$ Million)
- Market Size and Forecast, By Application, 2017–2030 (US$ Million)
- Market Share Analysis, By Country, 2022 and 2030 (%)
- U.K.
- Germany
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Regional Trends
- Market Size and Forecast, By Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By Heat Transfer Method, 2017–2030 (US$ Million)
- Market Size and Forecast, By Application, 2017–2030 (US$ Million)
- Market Share Analysis, By Country, 2022 and 2030 (%)
- China
- India
- Japan
- ASEAN
- Australia
- South Korea
- Rest of Asia Pacific
- Latin America
- Regional Trends
- Market Size and Forecast, By Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By Heat Transfer Method, 2017–2030 (US$ Million)
- Market Size and Forecast, By Application, 2017–2030 (US$ Million)
- Market Share Analysis, By Country, 2022 and 2030 (%)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Middle East and Africa
- Market Size and Forecast, By Type, 2017–2030 (US$ Million)
- Market Size and Forecast, By Heat Transfer Method, 2017–2030 (US$ Million)
- Market Size and Forecast, By Application, 2017–2030 (US$ Million)
- Market Share Analysis, By Country, 2022 and 2030 (%)
- South Africa
- GCC Countries
- Rest of the Middle East and Africa
- Introduction
- Competitive Landscape
- Company Profiles
- Absolute Cooling Tower Services Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Cooling Tower Depot Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Delta Cooling Towers, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- ESINDUS S.A (Hamon Group)
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- FANS a.s.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- LIANG CHI INDUSTRY (THAILAND) CO., LTD.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Paharpur Cooling Towers Limited
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- SPIG S.p.A
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- SPX Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Superchill Australia Pty Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
- Absolute Cooling Tower Services Ltd.
- Analyst Views
- Company Profiles
- Section
- References
- Research Methodology
- About us and Sales Contact
*Browse 60 market data tables and 40 figures on "Global Cooling Towers Market- Global forecast to 2030”.
Detailed Segmentation
- Global Cooling Towers Market, By Type:
- Open Cooling Tower
- Closed Circuit Cooling Tower
- Global Cooling Towers Market, By Heat Transfer Methods:
- Evaporative Cooling
- Dry Cooling
- Plume Abatement (Hybrid)
- Global Cooling Towers Market, By Application:
- Air-Conditioning
- Power Generation Utilities
- Manufacturing Industry
- Global Cooling Towers Market, By Region:
- North America
- By Type:
- Open Cooling Tower
- Closed Circuit Cooling Tower
- By Heat Transfer Methods:
- Evaporative Cooling
- Dry Cooling
- Plume Abatement (Hybrid)
- By Application:
- Air-Conditioning
- Power Generation Utilities
- Manufacturing Industry
- By Country:
- U.S.
- Canada
- By Type:
- Europe
- By Type:
- Open Cooling Tower
- Closed Circuit Cooling Tower
- By Heat Transfer Methods:
- Evaporative Cooling
- Dry Cooling
- Plume Abatement (Hybrid)
- By Application:
- Air-Conditioning
- Power Generation Utilities
- Manufacturing Industry
- By Country:
- Germany
- Italy
- U.K.
- France
- Russia
- Rest of Europe
- By Type:
- Asia Pacific
- By Type:
- Open Cooling Tower
- Closed Circuit Cooling Tower
- By Heat Transfer Methods:
- Evaporative Cooling
- Dry Cooling
- Plume Abatement (Hybrid)
- By Application:
- Air-Conditioning
- Power Generation Utilities
- Manufacturing Industry
- By Country:
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- By Type:
- Latin America
- By Type:
- Open Cooling Tower
- Closed Circuit Cooling Tower
- By Heat Transfer Methods:
- Evaporative Cooling
- Dry Cooling
- Plume Abatement (Hybrid)
- By Application:
- Air-Conditioning
- Power Generation Utilities
- Manufacturing Industry
- By Country:
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Type:
- Middle East and Africa
- By Type:
- Open Cooling Tower
- Closed Circuit Cooling Tower
- By Heat Transfer Methods:
- Evaporative Cooling
- Dry Cooling
- Plume Abatement (Hybrid)
- By Application:
- Air-Conditioning
- Power Generation Utilities
- Manufacturing Industry
- By Country:
- GCC Countries
- South Africa
- Rest of Middle East and Africa
- By Type:
- North America