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Water Cooling Tower Market Analysis and Outlook Report
Water Cooling Tower Market
According to our latest market study on "Water Cooling Tower Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type and Application," the market is expected to grow from US$ 1,635.2 million in 2021 to US$ 2,105.0 million by 2028; it is estimated to register a CAGR of 3.7% from 2021 to 2028.
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Based on type, the water cooling tower market is segmented into crossflow, counterflow, forced draft, induced draft, and others. In 2020, the crossflow segment led the water cooling tower market, accounting for the largest share in the market. On the basis of application, the water cooling tower market can be segmented into industrial, power plant, and HVAC. In 2020, the industrial segment accounted for the largest market share. Geographically, the market is broadly segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM).
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The COVID-19 pandemic has disrupted and negatively impacted the operations of several industries, including industrial; heating, ventilation, and air conditioning (HVAC); and power plants. A sharp decline in the growth of mentioned industries due to the pandemic is limiting the water cooling tower market growth. Factory shutdowns, travel and trade bans, and border lockdowns to combat and contain the infection have impacted manufacturing, supply, and sales of water cooling tower products.
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Babcock & Wilcox Enterprises, Inc.; Baltimore Aircoil Company; BELL COOLING TOWERS; Delta Cooling Towers, Inc.; EVAPCO, Inc; Hamon; MESAN Group; Samco Technologies, Inc.; SPX Cooling Technologies, Inc.; and Vistech Cooling Systems are among the major companies operating in the water cooling tower market.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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