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Industrial Cooling Systems Industry Increasing Demand, Emerging Trends, Growth Opportunities to Reach USD 27 Bn By 2030
Industrial Cooling Systems Market
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Industrial cooling systems are used to regulate the temperature of manufacturing and processing equipment, as well as the surrounding environment in industrial settings. These systems are designed to remove heat generated by industrial processes and dissipate it into the atmosphere or a nearby body of water.
An industrial cooling system is one that controls the temperature of a facility. Cooling systems are required in a variety of sectors to protect appliances from overheating. Different types of cooling systems are used in industrial processes cold, such as exothermic reactions and component and machine overheating. The need for industrial colling systems is expected to increase due to surge in demand for energy generation and distribution capacity.
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The growth of the industrial cooling systems market is driven by rise in usage of cooling systems in nuclear power plants. In nuclear power reactors, the cooling system is critical for efficient power output. Power plants utilize a variety of wet cooling systems that use water to transfer heat to a nearby water body or the air through evaporation to achieve the desired heat discharge. As air cooling systems become more widely adopted across a variety of end-use sectors, the industrial cooling systems market is expected to witness significant growth during the forecast period. The two-stage technology in air cooling provides industrial facilities with environmentally acceptable and long-term cooling and ventilation. Air cooling technique cools buildings with 100% fresh filtered outside air, which, in turn, improve interior air quality and provides a comfortable working environment.
Furthermore, to strengthen the industrial cooling systems market position, key players in the industrial cooling systems market are adopting strategic moves such as collaboration, mergers, acquisitions, and partnerships. For instance, in July 2021, the Baltimore Aircoil Company strengthened its market position in industrial cooling industry market by acquiring Eurocoil SPA. The Italy-based Eurocoil SPA is a prominent manufacturer of heat exchangers for the commercial and refrigeration sectors in Europe.
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Top Players:
The key companies profiled in the industrial cooling systems market report include Airedale International Air Conditioning Ltd., Baltimore Aircoil Company, Brentwood Industries, Inc., Emerson Electric Co., GEA Group Aktiengesellschaft, Hamon Group S.A., Johnson Controls International PLC, Schneider Electric SE, SPX Corporation, and Star Cooling Tower Pvt Ltd.
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