Cooling Tower Market to Expand with Significant CAGR During 2021-2031 | S.A. HAMON, SPX Cooling Technologies, ENEXIO Management, Baltimore Aircoil Company (BAC), Johnson Controls

New York, A cooling tower is a heat rejection device that uses the evaporation of water to remove process heat and cool the working fluid of a heat exchanger or cooling tower to the desired temperature. Cooling towers may either use the evaporation of water to remove process heat and cool the working fluid to the desired temperature or, in the case of closed-circuit dry cooling towers, rely solely on air to cool the working fluid to the desired temperature.

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Key Trends

The key trends in cooling tower technology are increased use of alternative water sources, advanced water treatment methods, and increased use of energy-efficient fans and motors.

As water shortages become more common, cooling towers are increasingly turning to alternative water sources such as treated wastewater and greywater. This trend is expected to continue as water becomes more scarce and expensive.

Advanced water treatment methods are also becoming more common in cooling towers. This is due to the need to remove more contaminants from the water to prevent fouling and corrosion. These methods include reverse osmosis, ion exchange, and ultraviolet sterilization.

Energy-efficient fans and motors are being used more often in cooling towers to reduce energy consumption. These fans and motors use less electricity and can help to reduce the operating costs of cooling towers.

Key Drivers

The key drivers of the cooling tower market are the increasing demand for cooling towers from the power generation industry and the growing demand for cooling towers from the HVAC industry. The power generation industry is the largest consumer of cooling towers, accounting for more than 50% of the total cooling tower market.

The increasing demand for cooling towers from the power generation industry is driven by the increasing demand for electricity. The growing demand for cooling towers from the HVAC industry is driven by the increasing demand for air conditioning and the growing construction industry.

The other key drivers of the cooling tower market include the increasing demand for cooling towers from the chemical, petrochemical, and oil & gas industries.

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Market Segments

The Cooling Tower Market is segmented by product, technology, application, and region. By product, the market is divided into evaporative/wet, dry and hybrid. Based on technology, it is bifurcated into open circuit, closed circuit and hybrid. On the basis of application, it is classified into chemicals & fertilizers, oil & gas and power generation. Region-wise the market is divided into North America, Europe, Asia-Pacific, and the Rest of the World.

Key Players

The Cooling Tower Market includes players such as S.A. HAMON, SPX Cooling Technologies, ENEXIO Management, Baltimore Aircoil Company (BAC), Johnson Controls, Paharpur Cooling Tower, SPIG S.p.A, EVAPCO, Delta Cooling Towers, Thermax, and International Cooling Tower.

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Reasons to buy Cooling Tower Market Report:

• Develop comprehensive understanding of market landscape - industry structure, value-chain, key players, trends, drivers, and challenges
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• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market

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