Cooling Towers Market by Type (Wet, Dry, Hybrid), Material (FRP, Steel, Concrete, Wood, HDPE and Others), Application and Geography - Global Industry Analysis, Opportunities and Forecast up to 2026

The global Cooling Towers market size was valued at $3.35 billion in 2020, and is projected to reach $4.55 billion by 2026, growing at a CAGR of 5.2% during the forecast period.       
 
• Driven by emergence of advanced technologies in cooling towers and rising construction activities coupled with rapid industrialization. In addition increasing adoption of cooling towers by various end user verticals.

• Additionally, increasing demand from the developing markets of Asia-Pacific, and stringent environmental regulations are driving the demand for cooling towers are propelling the growth of the market.

• However, frequent corrosion and scaling resulting in reduced efficiency and negative impact on environment by increasing usage of cooling towers, are the factors restraining the market growth.

Cooling tower is a equipment known for elimination of heat that extracts heat and releases into the atmosphere via cooling the water stream to a lower temperature. Cooling towers are mainly used in power generation and manufacturing units in industrial sectors in order to maintain cool environment. These are relatively low-cost and reliable means of extracting low-grade heat from cooling water. These are used in various industrial applications such as HVAC, pharmaceuticals, oil & gas, power generation and others.
                       
By Type, the Evaporative/ Wet Towers Segment is Projected to Strong Presence in the Global Market

The wet towers segment is expected to have a huge demand and is driven by their ability to cool vast volumes of water and high cooling capacity per unit across manufacturing industries and reduced noise pollution, lower maintenance cost, high performance and energy efficient. Moreover, rising investments for technological advancements for improvement in the efficiency, flexibility and communication capability in design will encourage the product adoption.

By Geography, Asia-Pacific Region Holds a Substantial Market Share

The growth of the Asia Pacific market for cooling towers can be attributed to the presence of authorized and unauthorized local players. Increasing facilities of manufacturing and expansion of industrial sector and population expected to increase the adoption rate of cooling towers. Furthermore, the growing focus on nuclear power plant construction, increasing concern regarding the infra structure development are the factors increasing the adoption of cooling towers in the region.

List of the Key Players Profiled in the Market Include:

• Babcock & Wilcox Enterprises, Inc.
• Baltimore Aircoil Company
• Bell Cooling Towers
• Brentwood Industries
• Cenk Endüstri Tesisleri Imalat Ve Taahhüt A.Ş.
• Cooling Tower Systems, Inc.
• Delta Cooling Towers, Inc.
• Enexio Management GmbH
• Evapco, Inc.
• HAMON & CIE (International) S.A.
• Johnson Controls
• Kelvion Holding GmbH
• Krones Ag
• Mita Cooling Technologies Srl
• Paharpur Cooling Towers Ltd
• Spx Corporation
• Thermax Limited

What Can be Explored with this Research Report:

• Understand the key trends that will drive the market, challenges it faces in the current market scenario.
• Identify growth opportunities.
• Porter’s five force analysis.
• In-depth analysis of market segments, and regions/countries predicted to observed promising growth.
• Historical and forecast size of the market in terms of revenue (USD Million).
• Company profiling with key products and solution offerings, key financial information, SWOT analysis, and business strategies adopted.

Market Segmentation:

The research report includes in-depth coverage of the industry analysis with size, share, and forecast for the below segments:

Market by, Type:
• Evaporative/ Wet Cooling Tower
• Dry Cooling Tower
• Hybrid Cooling Tower

Market by, Material:
• Fiber-Reinforced Plastic (FRP)
• Steel
• Concrete
• Wood
• High-Density Polyethylene (HDPE)
• Other Materials

Market by, Application:
• Chemicals and Petrochemicals
• Pharmaceuticals
• HVAC
• Food & Beverages
• Power Generation
• Other Applications

Market by, Geography:
• North America
• Europe
• Asia Pacific
• South America
• Middle East & Africa

Table Of Content

1 Market Overview           
    1.1 Introduction       
    1.2 Research Objectives      
    1.3 Market Segmentation      
    1.4 Stakeholders       
    1.5 List of Acronyms       
             
2 Executive Summary           
             
3 Research Methodology          
    3.1 Identification of Data      
    3.2 Evaluation of Market Dynamics     
    3.3 Collaboration of Data      
    3.4 Verification and Analysis      
    3.5 Data Sources       
    3.6 Assumptions       
             
4 Market Dynamics           
    4.1 Market Drivers       
            4.1.1 Emergence of advanced technologies in cooling towers and rising constructions activities
            4.1.2 Rising demand from the developing markets of Asia-Pacific
            4.1.3 Stringent environmental regulation
    4.2 Market Restraints       
            4.2.1 Sluggish growth of cooling tower in Europe as well as North America
    4.3 Impact of COVID-19 on Cooling Towers Market    
             
5 Porter's Five Force Analysis          
    5.1 Bargaining Power of Suppliers      
    5.2 Bargaining Power of Buyers      
    5.3 Threat of New Entrants      
    5.4 Threat of Substitutes      
    5.5 Competitive Rivalry in the Market     
             
6 Global Cooling Towers Market by, Type         
    6.1 Overview       
    6.2 Evaporative/ Wet Cooling Tower     
    6.3 Dry Cooling Tower       
    6.4 Hybrid Cooling Tower      
             
7 Global Cooling Towers Market by, Material        
    7.1 Overview       
    7.2 Fiber-Reinforced Plastic (FRP)      
    7.3 Steel        
    7.4 Concrete        
    7.5 Wood         
    7.6 High-Density Polyethylene (HDPE)     
    7.7 Other Materials       
             
8 Global Cooling Towers Market by, Application        
    8.1 Overview       
    8.2 Chemicals and Petrochemicals      
    8.3 Pharmaceuticals       
    8.4 HVAC        
    8.5 Food & Beverages       
    8.6 Power Generation       
    8.7 Other Applications       
             
9 Global Cooling Towers Market by, Geography        
    9.1 Overview       
    9.2 North America       
    9.3 Europe        
    9.4 Asia Pacific       
    9.5 South America       
    9.6 Middle East & Africa      
             
10 Key Developments           
             
11 Company Profiling           
    11.1 Babcock & Wilcox Enterprises, Inc.     
            11.1.1 Business Overview
            11.1.2 Product/Service Offering
            11.1.3 Financial Overview
            11.1.4 SWOT Analysis
            11.1.5 Key Activities
    11.2 Baltimore Aircoil Company       
    11.3 Bell Cooling Towers        
    11.4 Brentwood Industries       
    11.5 Cenk Endüstri Tesisleri Imalat Ve Taahhüt A.Ş.    
    11.6 Cooling Tower Systems, Inc.       
    11.7 Delta Cooling Towers, Inc.       
    11.8 Enexio Management GmbH      
    11.9 Evapco, Inc.         
    11.10 HAMON & CIE (International) S.A.     
    11.11 Johnson Controls       
    11.12 Kelvion Holding GmbH       
    11.13 Krones Ag        
    11.14 Mita Cooling Technologies Srl      
    11.15 Paharpur Cooling Towers Ltd       
    11.16 Spx Corporation        
    11.17 Thermax Limited