According to IMARC Group’s latest report, titled “Cooling Tower Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026, the global cooling tower market exhibited moderate growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of around 5% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the purchase behaviors of the consumers globally–our estimates about the latest market trends and forecast values after considering the impact of this pandemic. These observations will be integrated into the report.
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A cooling tower stands for a heat removal device that utilizes water for releasing the waste heat into the atmosphere. It provides several benefits, including optimal cooling, water conservation, energy efficiency, corrosion resistance, cost-effectiveness, high durability, easy installation, reduced noise pollution, longer service life, etc. As a result, cooling towers are widely adopted for heating, ventilation and air conditioning (HVAC) systems, cold storage units, food processing plants, petroleum refineries, and electric power generation.
Market Trends and Drivers:
The rising demand for electrification, along with the growing number of power generating units, is augmenting the market for cooling towers. Moreover, the introduction of stringent regulations pertaining to the rising global warming is also driving the demand for cooling towers. Additionally, the growing construction industry, along with the increasing installation of HVAC systems, is further catalyzing the market growth. Moreover, the growing adoption of cooling towers for providing comfort cooling across large commercial spaces, such as educational institutes, airports, hotels, hospitals, etc, is also proliferating the global cooling tower market. Several advancements in the sector have led to the rapid integration of 3D TRASAR technology for offering high performance of cooling tower systems.
Cooling Tower Market 2021-2026 Competitive Analysis and Segmentation:
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:
- Delta Cooling Towers Inc.
- Johnson Controls Inc.
- Thermax Limited (RDA Holdings Private Limited
- Thermal Care Inc. (IPEG Inc.)
- Brentwood Industries Inc.
- Hamon Corporation (Hamon & Cie)
- Reymsa Cooling Towers Inc.
- International Cooling Tower Inc.
- Baltimore Aircoil Company Inc. (Amsted Industries Inc.)
- SPX Cooling Technologies Inc.
Key Market Segmentation:
The report has segmented the global cooling tower market 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)
- High-Density Polyethylene (HDPE)
Breakup by End-User:
- Petrochemicals and Oil & Gas
- Power Generation
- Food and Beverages
Breakup by Region:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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Key Highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- 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.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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