Global Hybrid Cooling Towers Market 2020-2024
Evolving Opportunities with Babcock & Wilcox Enterprises Inc. and Baltimore Aircoil Co. | Technavio
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Check out this article posted by Jesse Maida, Feb 18, 2020 - businesswire. https://www.businesswire.com/news/home/20200218005755/en/
LONDON--(BUSINESS WIRE)--The hybrid cooling towers market is poised to grow by USD 136.22 million during 2020-2024, progressing at a CAGR of about 4% during the forecast period.
Read the 144-page report with TOC on "Hybrid Cooling Towers Market Analysis Report by End-user (Power generation, HVAC, Oil and gas, Chemical and petrochemical, Food and beverage, Other end-users), by Geographic segmentation (North America, APAC, Europe, South America and MEA), and the Segment Forecasts, 2020-2024".
The market is driven by the increasing need to reduce environmental impact. In addition, the emergence of hybrid closed-circuit cooling towers is anticipated to boost the growth of the hybrid cooling towers market.
Traditional cooling towers impact the environment as they consume large volumes of water and require a steady flow of water to maintain operations. In addition, the consumed hot water does not cycle back through the system but is sent back to waterbodies, which adversely affects the marine ecosystem. This is propelling the need for hybrid cooling towers because they provide an optimal solution by saving water and prevent ambient conditions. These cooling towers do not harm the environment as it employs a combination of dry and wet cooling processes. Thus, the increasing need to reduce environmental impact by the adoption of hybrid cooling towers is expected to drive market growth during the forecast period.
Major Five Hybrid Cooling Towers Market Companies:
Babcock & Wilcox Enterprises Inc.
Babcock & Wilcox Enterprises Inc. is headquartered in the US and operates the business under various segments such as Babcock and Wilcox, Volund and Other Renewable, and SPIG. The company offers hybrid cooling towers.
Baltimore Aircoil Co.
Baltimore Aircoil Co. is headquartered in the US and offers Nexus Modular Hybrid Cooler, HXV Hybrid Cooler, and TrilliumSeries Adiabatic Condenser. These products run on hybrid cooling technology.
ENEXIO Management GmbH
ENEXIO Management GmbH is headquartered in Germany and offers Deluge Air cooled condenser. This product uses a hybrid cooling technology using dry cooling to reduce water consumption.
EVAPCO Inc. is headquartered in the US and offers eco-ATWB-H Hybrid solutions. The company provides hybrid cooling towers for HVAC and large tonnage industrial process installations.
FANS AS is headquartered in Czech Republic and offers hybrid cooling towers, which uses a combination of wet and dry cooling.
Hybrid Cooling Towers Market End-user Outlook (Revenue, USD Million, 2020-2024)
Power generationHVACOil and gasChemical and petrochemicalFood and beverageOther end-users
Hybrid Cooling Towers Market Geographic segmentation Outlook (Revenue, USD Million, 2020-2024)
North AmericaAPACEuropeSouth AmericaMEA