Cooling Tower Market 2019 – 2025 | Growth Analysis and Regional Outlook
Cooling Tower Market in U.S. in 2018, accounted for over USD 250 million. Favorable regulatory norms to accelerate the adoption of sustainable power generation coupled with rapid advancements in the manufacturing sector will increase the product penetration. Paradigm shift in the respective government norms are redefining the domestic manufacturing sector which will further boost the industry growth.
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Reduced thermal pollution, decreased biological contaminants and ability to remove water usage are some of the underline parameters that will drive the dry cooling tower market share. These systems operate on the code of connective heat transfer which involves minimal water usage when compared with other technologies.
Cooling Tower Market share is predicted to surpass USD 3 billion by 2025. Rising investments pertaining to the expansion of industrial sector across the emerging economies along with ongoing improvement in conventional technologies of thermal power plants will foster the market growth. Escalating consumer awareness toward the adoption of sustainable cogeneration technologies will positively impact the business landscape.
Package cooling tower market is anticipated to expand over 5% by 2025. Flexible site replacement and simplified electrical wiring & piping are among the major advantages which will positively impact the business growth. Furthermore, the rising investments toward automotive, textile and food processing industry will accelerate the product adoption.
Counterflow cooling tower market holds majority share on the grounds of increased air to water contact flow area and reduced space requirement & noise emission. In these cooling towers, the direction of the induced air is opposite to that of the water flow. In addition, counterflow tower serves better in spaces where low operating weight is required. The increased adoption of these systems across manufacturing sector, power plants and heavy industries encourage the product penetration.
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Eminent players operating in the cooling tower market are:
• International Cooling
• Bell Cooling Tower
• Paharpur Cooling Tower
• Star Cooling
• Perfect Cooling Thermax
• SPX Cooling
• Thermal Care
• Johnson Controls
Expanding industrial infrastructure primarily across the developing nations along with the requirement of high heat load will boost the natural cooling tower market growth. Reduced noise emissions, low energy consumption, low maintenance cost and longer service life are some of the key features which will significantly increase the product adoption.
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