Market Overview:
The global evaporative industrial cooling tower market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in the market can be attributed to the increasing demand for evaporative industrial cooling towers from various end-use industries, such as petrochemicals and oil & gas, HVACR, food & beverages, power generation, and others. In addition, the growing awareness about energy efficiency among consumers is also propelling the demand for evaporative industrial cooling towers globally.
Product Definition:
A cooling tower is a heat rejection device that rejects waste heat to the atmosphere. Wet cooling towers use water to cool the hot fluid coming from a process and dry cooling towers use air to cool the hot fluid.
The most common type of wet-cooled cooling tower is the evaporative cooler, which employs evaporation of water to remove heat from fluids such as gas or steam. The cooled fluids can then be used for air conditioning, industrial processes, or in power plants.
Open Cooling Tower:
Open cooling towers are used for industrial applications such as chemical, petrochemical and oil refinery. These cooling towers provide evaporative cooling to the condenser water which is pumped from the plant’s freshwater source or nearby body of water.
Closed Cooling Tower:
Closed cooling tower is also known as heat exchanger and it's used for industrial cooling. It works by allowing water to flow through the structure containing the desired temperature of heat transfer fluid, which is then dissipated to the atmosphere. These towers are made up of materials that can withstand a high level of thermal stress without deteriorating over time or suffering from any corrosion.
These towers are available in various sizes depending upon requirements.
Application Insights:
The power generation segment is anticipated to emerge as the fastest-growing application segment over the forecast period owing to rising demand for clean energy. The use of evaporation cooling towers in power plants aids in reducing electricity costs by approximately 25%. These are used with fossil fuel generators, nuclear reactors and wind turbines.
Petrochemicals & oil & gas was the largest application segment accounting for a market share of 29.3% in 2017 on account of high demand for chemical products across various industries such as plastics and coatings from construction and automotive sectors. Evaporative process uses water as a coolant along with natural gas or liquid petroleum gas (LPG) feedstock which reduces overall plant operating costs by 20% to 30%. This factor is projected to drive product demand from petrochemical industry over the forecast period.
Regional Analysis:
Asia Pacific is expected to witness significant growth over the forecast period owing to the presence of a large number of industries. Evaporative cooling towers provide substantial energy savings and lower operating costs as compared to other cooling methods used in various industries. The region is witnessing increasing demand for industrial evaporative cooling towers from end-user industries such as food & beverages, power generation, HVACR and others.
The growing construction industry coupled with rising demand for air conditioning in residential and commercial sectors has led to an increased requirement for industrial evaporative coolers across Asia Pacific region. Furthermore, favorable government initiatives promoting investments through tax benefits are anticipated to propel market growth over the forecast period.
Growth Factors:
- Increasing demand for evaporative industrial cooling towers from the process industries, owing to the benefits offered by these towers over other types of cooling systems
- Growing awareness about the benefits of evaporative industrial cooling towers among end-users, which is resulting in an increase in their adoption across various industries
- Technological advancements in evaporative industrial cooling tower technology that are making these systems more efficient and reliable
- Rising concerns about energy conservation and environmental pollution, which is prompting companies to adopt energy-efficient and eco-friendly technologies like evaporative industrial cooling towers
- The increasing demand for HVAC systems in developing countries due to the growth of their economies and rising population
Scope Of The Report
Report Attributes
Report Details
Report Title
Evaporative Industrial Cooling Tower Market Research Report
By Type
Open Cooling Tower, Closed Cooling Tower
By Application
Petrochemicals and Oil & Gas, HVACR, Food & Beverages, Power Generation, Others
By Companies
Baltimore Aircoil, Bell Cooling Tower, Brentwood Industries, Enexio, Hamon & Cie International, Paharpur Cooling Towers, SPIG, SPX, Star Cooling Towers Private, Baltimore Aircoil
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
150
Number of Tables & Figures
105
Customization Available
Yes, the report can be customized as per your need.
Global Evaporative Industrial Cooling Tower Market Report Segments:
The global Evaporative Industrial Cooling Tower market is segmented on the basis of:
Types
Open Cooling Tower, Closed Cooling Tower
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Petrochemicals and Oil & Gas, HVACR, Food & Beverages, Power Generation, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Baltimore Aircoil
- Bell Cooling Tower
- Brentwood Industries
- Enexio
- Hamon & Cie International
- Paharpur Cooling Towers
- SPIG
- SPX
- Star Cooling Towers Private
- Baltimore Aircoil
Highlights of The Evaporative Industrial Cooling Tower Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Open Cooling Tower
- Closed Cooling Tower
- By Application:
- Petrochemicals and Oil & Gas
- HVACR
- Food & Beverages
- Power Generation
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Evaporative Industrial Cooling Tower Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Evaporative industrial cooling towers use the natural process of evaporation to cool air. The water vapor in the air is drawn up into a tower where it condenses and falls back down to the ground, providing cooling relief for businesses and factories.
Some of the key players operating in the evaporative industrial cooling tower market are Baltimore Aircoil, Bell Cooling Tower, Brentwood Industries, Enexio, Hamon & Cie International, Paharpur Cooling Towers, SPIG, SPX, Star Cooling Towers Private, Baltimore Aircoil.
The evaporative industrial cooling tower market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Evaporative Industrial Cooling Tower Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Evaporative Industrial Cooling Tower Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Evaporative Industrial Cooling Tower Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Evaporative Industrial Cooling Tower Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Evaporative Industrial Cooling Tower Market Size & Forecast, 2020-2028
4.5.1 Evaporative Industrial Cooling Tower Market Size and Y-o-Y Growth
4.5.2 Evaporative Industrial Cooling Tower Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Open Cooling Tower
5.2.2 Closed Cooling Tower
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Petrochemicals and Oil & Gas
6.2.2 HVACR
6.2.3 Food & Beverages
6.2.4 Power Generation
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Evaporative Industrial Cooling Tower Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Evaporative Industrial Cooling Tower Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Open Cooling Tower
9.6.2 Closed Cooling Tower
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Petrochemicals and Oil & Gas
9.10.2 HVACR
9.10.3 Food & Beverages
9.10.4 Power Generation
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Open Cooling Tower
10.6.2 Closed Cooling Tower
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Petrochemicals and Oil & Gas
10.10.2 HVACR
10.10.3 Food & Beverages
10.10.4 Power Generation
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Open Cooling Tower
11.6.2 Closed Cooling Tower
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Petrochemicals and Oil & Gas
11.10.2 HVACR
11.10.3 Food & Beverages
11.10.4 Power Generation
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Open Cooling Tower
12.6.2 Closed Cooling Tower
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Petrochemicals and Oil & Gas
12.10.2 HVACR
12.10.3 Food & Beverages
12.10.4 Power Generation
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Open Cooling Tower
13.6.2 Closed Cooling Tower
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Petrochemicals and Oil & Gas
13.10.2 HVACR
13.10.3 Food & Beverages
13.10.4 Power Generation
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Evaporative Industrial Cooling Tower Market: Competitive Dashboard
14.2 Global Evaporative Industrial Cooling Tower Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Baltimore Aircoil
14.3.2 Bell Cooling Tower
14.3.3 Brentwood Industries
14.3.4 Enexio
14.3.5 Hamon & Cie International
14.3.6 Paharpur Cooling Towers
14.3.7 SPIG
14.3.8 SPX
14.3.9 Star Cooling Towers Private
14.3.10 Baltimore Aircoil
