Cooling Towers Market - How COVID19 impacting on the Information Technology Industry?

United States,Washington: Cooling tower is used to cool water circulating in the cooling system. Primarily, it is a heat rejection device, which removes the 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. Cooling towers are widely used in different industries such as chemical, oil and gas, food processing, power generation plants, and other air-conditioning applications. There are basically two types of cooling towers: Open cooling towers and closed-circuit cooling towers. On the basis of their heat transfer method cooling towers are classified as evaporative/wet, dry cooling towers, and hybrid.

The global Cooling Towers Market was accounted for US$ 3,015.8 Mn in terms of value in 2019 and is expected to grow at CAGR of 4.7% for the period 2020-2027.

Global Cooling Towers Market and Competitive Analysis

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The Leading Key Players during this Industry: SPIG S.p.A, Absolute Cooling Tower Services Ltd., ESINDUS S.A (Hamon Group), Paharpur Cooling Towers Limited, FANS a.s., 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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Asia Pacific held dominant position in the global Cooling Towers market in 2019, accounting for 25.5% share in terms of value, followed by Europe and Asia Pacific respectively

Open circuit cooling towers produce high amount of plume. Visible plume in most cases does not cause any noteworthy environmental impact on the surrounding. However, concern arises when the plume builds, causing a safety hazard. An inversion in weather conditions may result in thick, persistent fog that decreases visibility in the surroundings. For instance, when cooling towers are located near airport plume may cause interference in airport operations, leading to serious problems for the air traffic controller.

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Coherent Market Insights: The research report on Cooling Towers is a deep analysis of the market. This is a latest report, covering the current COVID-19 impact on the market. The pandemic of Coronavirus (COVID-19) has affected every aspect of life globally. This has brought along several changes in market conditions. The rapidly changing market scenario and initial and future assessment of the impact is covered in the report. Experts have studied the historical data and compared it with the changing market situations. The report covers all the necessary information required by new entrants as well as the existing players to gain deeper insight.

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