Global Cooling Tower Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast: 2019–2028
“Global Cooling Tower Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. The global cooling tower market report has been segmented on the basis of type, exchange method, application, and region.
Global Cooling Tower Market: Overview
The basic task of cooling towers is to remove heat and maintain cool temperature. Cooling tower is a technology known for maintaining temperature in the chillers for various industrial applications. The major usage of cooling towers is in the power generation and manufacturing units of industrial sectors in order to maintain cool environment.
Global Cooling Tower Market: Dynamics
Growing demand of cooling towers in the field of construction, manufacturing units, power generation and air conditioning industry is a major factor expected to drive growth of the global cooling tower market. In addition, constant enhancement in cooling tower technologies as well as high adoption of cooling tower by various sectors are factors expected to fuel growth of the global cooling tower market. Increasing urbanization and high demand of this cooling towers in the commercial buildings is anticipated to boost growth of the global cooling tower market.
Moreover, some factors such as low cost of cooling towers and high efficiency are anticipated to drive growth of the global cooling tower market. Furthermore, rising need for temperature maintenance and rapidly growing industrialization are another factors projected to escalate growth of the global cooling tower market. Increasing usage of cooling towers in applications in various industries such as food and beverages, gas and oil among other industries is expected to boost growth of the global cooling tower market.
However, issues related to corrosion and scaling, unchecked water flows through a cooling tower which makes metal weak and result into water leakage and high maintenance cost are factors expected to hamper growth of the global cooling tower market. In addition, possible negative impact on environment by increasing usage of cooling towers is another major factor expected to hinder growth of the global cooling tower market to a certain extent.
Global Cooling Tower Market: Segment Analysis
Among the type segments, the open cooling towers segment is projected to dominate in the global cooling tower market with major share in terms of revenue. Open cooling towers offer various benefits at a comparatively lower cost is a major factor expected to drive growth of this segment in the global cooling tower market.
Among the exchange method segments, the dry cooling towers segment is expected to be largest segment with highest revenue share in the global cooling tower market. Factors such as low investment requirement and high life span capacity are two major factors expected to drive growth of this segment in the global cooling tower market.
Among the application segments, the industry segment is anticipated to dominate in the global cooling tower market with comparatively higher share in terms of revenue. Increasing demand from various industries in order to maintain temperature in the production and other units during heavy operations is a factor expected to drive growth of the industry segment in the global cooling tower market.
Global Cooling Tower Market: Region Analysis
North America market is expected to account for highest revenue share in the global cooling tower market. Increasing need to maintain temperature in manufacturing units, especially in food & beverages industry and rapidly growing industrialization in North America are major factors expected to drive growth of the cooling towers market in this region.
Global Cooling Tower Market Segmentation:
Segmentation by Type:
- Closed Circuit Cooling Towers
- Open Cooling Towers
Segmentation by Exchange Method:
- Plume Abetments/Hybrid
- Dry Cooling Towers
Segmentation by Application:
- Power Generation Utilities
- Air Conditioning
Segmentation by Region:
- North America
- Latin America
- Asia Pacific
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2020 Estimated Year 2021 Forecast Period 2021–2030 Revenue in US$
- M-CTI Mumme-Cooling Tower International GmbH
- Baltimore Aircoil Company
- Hamon & Cie International SA,
- Brentwood Industries Inc.
- Paharpur Cooling Towers Limited
- Star Cooling Towers Private Ltd.
- Johnson Controls Inc.
- SPIG S.P.A.
- SPX Corporation.
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