Evaporative Cooling Market 2021 Analysis by Global Manufacturers - Delta Cooling Towers Inc., Condair Group AG, SPX Cooling Technologies
The report presents an in-depth assessment of the Evaporative Cooling including enabling technologies, key trends, market drivers, challenges, standardization, regulatory landscape, deployment models, operator case studies, opportunities, future roadmap, value chain, ecosystem player profiles and strategies. The report also presents forecasts for Evaporative Cooling investments from 2020 till 2025.
The global evaporation cooling market was valued at USD 6.07 billion in 2019, and it is expected to register a CAGR of 5.1% during the forecast period (2020-2025).
The Evaporative Cooling market is highly competitive and consists of a number of major players: Delta Cooling Towers Inc., Condair Group AG, SPX Cooling Technologies, Baltimore Aircoil Company Inc., Munters Group AB, Colt Group Limited, Phoenix Manufacturing Inc., Bonaire Group (Celi Group), ENEXIO Water Technologies GmbH, CFW Evapcool, Celsius Design Limited
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Scope of the Report
Evaporative cooling is preferred as an alternative over the traditional cooling technologies, as it makes use of a natural process, namely the reduction of air temperature by evaporating water on it. Although it is an age-old process, it has emerged as a viable alternative to conventional air conditioning systems in areas where extremely low temperatures are not required.
Key Market Trends
Industrial Applications to Hold Major Share
Industrial applications for evaporative coolers comprise of warehouses, factories, manufacturing units, power generation, oil and gas, construction sector, and many more. The industrial sector accounts for the largest market share among all the end-user applications, driven by the large-scale deployment of both direct and evaporative coolers.
Due to the recent changes in the structure of warehouses and manufacturing units toward insulated structures, maintaining desired temperatures during summer has become a major consideration.
The strong economy, with notable port traffic, increased e-commerce activity, and key manufacturing indices resulting in manufacturing growth, are poised to drive the demand for warehouses in the United States.
Asia-Pacific to Hold Major Share
The Asia-Pacific evaporative cooling market is driven by three major countries Japan, Australia, and India. They have been deploying these cooling systems since the 1990s. The growing data center market, owing to the increased digitization, adoption of cloud services, and penetration of e-commerce in Japan, has been a key indicator of the increasing demand for evaporative cooling in the region. Equinix is a global data center company that opened an International Business Exchange (IBX) data center in Tokyo known as TY5 in 2018. This facility accounted for an investment of USD 70 million, aimed at serving the demand from global and local enterprises, which includes cloud and content providers, as well as financial service firms, who are increasingly banking on data center services in Tokyo. All these factors have been augmenting the data center market in the region, and are expected to be instrumental in driving the adoption of the evaporative cooling in Asia-Pacific over the forecast period.
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What are the market factors that are explained in the report?
–Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
–Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
–Analytical Tools: Evaporative Cooling Market report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, feasibility study, and investment return analysis have been used to analyzed the growth of the key players operating in the market.
The research includes historic data from 2014 to 2019 and forecasts until 2025 which makes the reports an invaluable resource for industry executives, marketing, sales and product managers, consultants, analysts, and other people looking for key industry data in readily accessible documents with clearly presented tables and graphs.
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