Global Cooling Tower Market: Overview
Cooling towers are used for maintaining temperatures in the chillers for a number of industrial applications. The device is mainly used in the manufacturing and power generation industries for keeping the environment cool. The heat regulation can be maintained in air conditioning systems using cooling towers which influence the global cooling tower market. The cooling tower is used for a number of applications such as power generation, manufacturing industry, HVACR, food and beverage, and others.
|Historic Years||2016 - 2020|
|Forecast Years||2021 - 2028|
|Segments Covered||By Product Type, By Application, and By End Use|
|Forecast Units||Value (USD Billion), and Volume (Units)|
|Quantitative Units||Revenue in USD million/billion and CAGR from 2021 to 2028|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World|
|Countries Covered||U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others|
|Number of Companies Covered||10 companies with scope for including additional 15 companies upon request|
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.|
|Customization Scope||Avail customized purchase options to meet your exact research needs.|
Global Cooling Tower Market: Growth Factors
The increasing demand in the construction, air conditioning, manufacturing, and power generation industry is expected to drive the global cooling tower market. The rising technological advancements in the cooling towers and high HVACR deployments boost the global cooling tower market. The high demand for cooling towers in the commercial buildings triggers the global cooling tower market. The growing demand for HVACR systems in the construction industry drives the growth of the global cooling tower market in various regions. The cooling towers are cost effective and very well efficient influencing the global cooling tower market growth. The temperature maintenance, rising industrialization has been predicted to escalate the growth of the global cooling tower market.
Global Cooling Tower Market: Segmentation
The global cooling tower market is segmented on the basis of design, type, construction material, and application. The design segment is divided into natural and mechanical designs. The type segment is categorized into the hybrid (plume abatement), evaporative, and dry cooling towers. The construction material segment is bifurcated into steel, concrete, FRP, and others. The application segment includes HVACR, food and beverage, power generation, chemical, petrochemical and oil and gas, air conditioning industry, and others. The power generation segment shows the dominance in the utilization of the cooling tower systems throughout the globe.
Global Cooling Tower Market: Regional Analysis
Asia-Pacific and Rest of the World dominate the global cooling tower market. The markets in these regions are pumping mainly due to the emerging Indian market. China is also one of the leading markets for the sale of cooling tower systems. The reason for the dominance of these regions is the rise in the number of rapid industrialization, power generation plants, and rising demands of the increasing population.
Global Cooling Tower Market: Competitive Players
The key players investing major of their shares in the global cooling tower market include cooling tower the Bell Cooling Tower, Baltimore Aircoil Company, Hamon & Cie International SA, Brentwood Industries Inc., Paharpur Cooling Towers, Enexio, Star Cooling Towers Private Ltd., Johnson Controls Inc., SPIG S.P.A., and SPX Corporation. The other major players dominating the global cooling tower market include Composite Cooling Solutions L.P., Kimre, Inc., EvapTech, Inc., Changzhou Kwell Cooling Equipment Co., Ltd., and Liang Chi Industry Co. Ltd. The major competitors adopt numerous strategies such as the mergers and acquisitions, joint ventures, new product launch, agreements, partnerships, and contracts in order to get hold of a position in the global cooling tower market.
Global Cooling Tower Market: Regional Segment Analysis
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