Cooling Tower Market - Trends Analysis, Growth Strategies and Geographical Outlook to 2025
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Check out this article posted by Rahul Varpe dated April 21, 2020
The package cooling tower market is anticipated to expand over 5% by 2025. Flexible site replacement and simplified electrical wiring & piping are among the major advantages which will positively impact business growth. Furthermore, the rising investments toward the automotive, textile, and food processing industry will accelerate product adoption.
Cooling Tower Market share is predicted to surpass USD 3 billion by 2025. Rising investments pertaining to the expansion of the industrial sector across the emerging economies along with ongoing improvement in conventional technologies of thermal power plants will foster the market growth. Escalating consumer awareness toward the adoption of sustainable cogeneration technologies will positively impact the cooling tower market landscape.
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The U.S. cooling tower market in 2018, accounted for over USD 250 million. Favorable regulatory norms to accelerate the adoption of sustainable power generation coupled with rapid advancements in the manufacturing sector will increase product penetration. The paradigm shift in the respective government norms is redefining the domestic manufacturing sector which will further boost the industry growth.
Expanding industrial infrastructure primarily across the developing nations along with the requirement of high heat load will boost the natural cooling tower market growth. Reduced noise emissions, low energy consumption, low maintenance cost and longer service life are some of the key features which will significantly increase the product adoption.
Ongoing investment in the upstream sector across the Asia Pacific & Middle East region will positively influence the business landscape. Prevailing expansion & refurbishment of oil refineries will further boost the cooling tower market growth. For instance, reliance industry in September 2017, proposed to boost the oil refining capacity of its Jamnagar refinery by 30 million tons per year.
Industry Growth Drivers: -
Growing manufacturing sector
Increasing utilization of cogeneration technology
Robust industrial growth
Growing investments toward generation capacity addition
Changing climatic condition
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Chemical & Fertilizers
Oil & Gas
Counterflow cooling tower market holds majority share on the grounds of increased air to water contact flow area and reduced space requirement & noise emission. In these cooling towers, the direction of the induced air is opposite to that of the water flow. In addition, the counterflow tower serves better in spaces where low operating weight is required. The increased adoption of these systems across the manufacturing sector, power plants, and heavy industries encourage product penetration.
Reduced thermal pollution, decreased biological contaminants and the ability to remove water usage are some of the underline parameters that will drive the dry cooling tower market share. These systems operate on the code of convective heat transfer which involves minimal water usage when compared with other technologies.
Eminent players operating in the cooling tower market are: -
Haman, International Cooling, Reymsa, BERG, Bell Cooling Tower, Mesan, Evapco, ENGIE, Paharpur Cooling Tower, SPIG, Star Cooling, Perfect Cooling Thermax, SPX Cooling, Thermal Care, Baltimore, Johnson Controls, Brentwood, ENEXIO and Delta.
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