Cooling Tower Market: Global Industry Analysis, Size (US$ 3.6 Billion), Share, Growth (CAGR of 4.73%), Top Companies Analysis and Research Report 2022-2027

According to IMARC Group's latest report, titled "Cooling Tower Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027, the global cooling tower market size reached US$ 2.7 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2027, exhibiting a growth rate (CAGR) of 4.73% during 2022-2027.

Cooling Tower Market Trends:

The rising demand for energy-efficient cooling systems in industrial and commercial applications is boosting the market growth across the globe. For instance, cooling towers provide a cost-effective method for cooling large commercial spaces and process cooling applications in different industries like chemicals, food processing, and oil and gas. Furthermore, cooling towers are used on a large scale in thermoelectric power plants to eliminate excess heat. Additionally, the increasing investments by public and private agencies for the development of thermal and nuclear power plants across various countries are expected to aid the demand for cooling towers. The rising electricity consumption, driven by rapid industrialization and population growth, is influencing the construction of new power plants, which, in turn, is projected to fuel the market growth during the forecast period.

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Year Considered to Estimate the Market Size:

Base Year of the Analysis: 2021
Historical Period: 2016-2021
Forecast Period: 2022-2027

Competitive Landscape With Key Players:

The competitive landscape of the cooling tower market has been studied in the report with the detailed profiles of the key players operating in the market.

Some of these key players include:

• Babcock & Wilcox Enterprises Inc.
• Baltimore Aircoil Company Inc. (Amsted Industries Inc.)
• Brentwood Industries Inc.
• Delta Cooling Towers, Inc.
• ENEXIO Management GmbH
• Hamon Corporation (Hamon & Cie)
• International Cooling Tower Inc.
• Johnson Controls Inc.
• SPX Cooling Technologies Inc.
• Reymsa Cooling Towers Inc.
• Thermal Care Inc. (IPEG Inc.)
• Thermax Limited (RDA Holdings Private Limited)

Industry Definition and Application:

A cooling tower is a specialized heat exchanger which reduces the temperature by evaporating a small volume of water. It comprises a double-curved shell structure of concrete supported on a series of struts. Cooling towers are generally employed for lowering the temperature in industrial settings, such as cold storage units, heating, ventilation, and air conditioning (HVAC) systems, electric power generation, and food processing plants. They are also used in hotels, schools, and hospitals to provide comfortable cooling.

Key Market Segmentation:

The report has segmented the global cooling tower market based on tower type, flow type, design, construction material, end user industry and region.

Breakup by Tower Type:

• Open-Circuit Cooling Towers
• Closed-Circuit Cooling Towers
• Hybrid Cooling Towers

Breakup by Flow Type:

• Cross Flow
• Counter Flow

Breakup by Design:

• Mechanical Draft Cooling Tower
• Natural Draft Cooling Tower
Breakup by Construction Material:
• Fiber-Reinforced Plastic (FRP)
• Steel
• Concrete
• Wood
• High-Density Polyethylene (HDPE)
• Others

Breakup by End-User:

• Chemical
• HVAC
• Petrochemicals and Oil & Gas
• Power Generation
• Food and Beverages
• Others

Breakup by Region:

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa

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Note: We are updating our reports, if you want the report with the latest primary and secondary data (2023-2028) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours. This report can serve as an excellent guide for investors, researchers, consultants, marketing strategists and all those who are planning to foray into the market in any form.

Key Highlights of the Report:

• Market Performance (2016-2021)
• Market Outlook (2022-2027)
• Market Trends
• Market Drivers and Success Factors
• Impact of COVID-19
• Value Chain Analysis
• Comprehensive mapping of the competitive landscape

If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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