global industrial cooling system market with a CAGR of 6.9% during the forecast period, 2019–2026

Industrial Cooling System Market

Cooling systems are necessary in various industries to prevent the over-heating of appliances. An industrial cooling system is a system that regulates operational temperature. Different kinds of cooling systems are used to maintain the temperature of production processes, such as exothermic reaction, and over-heating of components and machines. The growing demand for energy generation and distribution capacity is aiding the demand for industrial colling systems. Regardless of the growth, the industrial cooling system market is poised to face the challenge of maintaining salubrity, which includes the availability of fresh water. But freshwater is confronting a severe shortfall due to various factors such as population growth, intensive agriculture, and climate change, resulting in a shortage of water. According to the International Energy Agency, the global electricity demand for cooling in buildings is expected to increase up to 60% by 2030. Natural and forced draft are the environment-friendly cooling towers used to provide cooling water at manufacturing plants.

The Major Players Covered in this Report:
Airedale International Air Conditioning Ltd., Baltimore Aircoil Company Inc., Berg Chilling Systems Inc., Black Box Corporation, SPX Corporation, Star Cooling Towers Pvt. Ltd., STULZ GmbH, and Thermal Care Inc. 

The global industrial cooling system market is expected to attain a value of USD 24.73 million by 2026, leaping from USD 14.50 million in 2018, with a CAGR of 6.9% during the forecast period, 2019–2026.

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By Product Type, Air Cooling,Evaporative Cooling,Hybrid Cooling,Water Cooling

By Application,Automotive, Chemical, Food & Beverage, Metalworking, Oil & Gas, Pharmaceutical, Pulp & Paper, Utility & Power

Segmentation Insights

The global industrial cooling system market is bifurcated by product and application.

Evaporative cooling systems are widely used in manufacturing facilities as a sustainable method for cooling due to their high efficiency. The increasing level of temperature is one of the crucial problems faced by countries such as Egypt, Africa, and those in the Middle East region. In a greenhouse, evaporative cooling utilizes the heat in the air to help evaporate water from the plants, thereby dropping the temperature level. Evaporative cooling systems are cheaper than central air conditioning systems, which require less maintenance. Hybrid cooling systems are widely used in airports; they are specifically designed to avoid visibility of plume in cold because of the aberrant temperature condition. These systems reduce water consumption by 80% through the utilization of wet cooling. Hybrid cooling systems can also be found in data centers, petrochemical manufacturing plants, and chiller plants.

Regional Analysis For Industrial Cooling System Market:

North America (United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

In this study, the years considered to estimate the market size of the Industrial Cooling System are as follows:

History Year: 2014-2019
Base Year: 2019
Estimated Year: 2020
Forecast Year 2021 to 2026

The study objectives of this report are:

To study and forecast the market size of the Industrial Cooling System in the global market.
To analyze the global key players, SWOT analysis, value, and global market share for top players.
To define, describe and forecast the market by type, end-use, and region.
To analyze and compare the market status and forecast among global major regions.
 Analyze the potential of the global market and the advantages, opportunities and challenges, constraints, and risks of key regions.
Identify the key trends and factors that are driving or holding back market growth.
To analyze the opportunities in the market for stakeholders by identifying the high-growth segments.
Strategic analysis of each submarket in light of individual growth trends and market contributions.
To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market.
Complete analysis of the strategic strategy and growth of key players

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