Cooling Towers Market Statistics, Trends, Size, Share, and Key Players by 2031

Coverage: Cooling Towers Market covers analysis by Type (Mechanical Draft Cooling, Atmospheric Cooling, Hybrid Draft Cooling, Hyperbolic Cooling, and Others); Construction (Factory Assembled, and Field-erected); End-user Industry (Chemical Processing, Healthcare & Pharmaceutical, Food Processing, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)

  • Report Code : TIPMC00002699
  • Category : Manufacturing and Construction
  • No. of Pages : 150
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Cooling Towers Market Dynamics and Analysis by 2031

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The Cooling Towers Market is expected to register a CAGR of 4.0% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.

The market is segmented into by Type, Construction and End User. The Type segment is divided into Mechanical Draft Cooling, Atmospheric Cooling, Hybrid Draft Cooling, Hyperbolic Cooling, and Others. Based on Construction, the market is segmented into Factory Assembled, and Field-erected. Based on End Use Industry, the market is segmented into Chemical Processing, Healthcare & Pharmaceutical, Food Processing, and Others

Purpose of the Report

The report Cooling Towers Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:

  • Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
  • Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
  • Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.

Cooling Towers Market Segmentation

Type
  • Mechanical Draft Cooling
  • Atmospheric Cooling
  • Hybrid Draft Cooling
  • Hyperbolic Cooling
  • Others
Construction
  • Factory Assembled
  • Field-erected
End-user Industry
  • Chemical Processing
  • Healthcare & Pharmaceutical
  • Food Processing
  • Others
Mixing Capacity
  • Less than 6 m3
  • Between 6 m3 to 10 m3
  • Above 10 m3
Mixing Capacity
  • Less than 6 m3
  • Between 6 m3 to 10 m3
  • Above 10 m3

Strategic Insights

Cooling Towers Market Growth Drivers
  • Increasing Need for Effective Thermal Management: The key driver for the cooling tower market is the increasing energy efficiency and effective thermal management needs witnessed in various industries. Industries such as power generation, manufacturing, and data centers require efficient cooling solutions in order to achieve optimal operating temperatures that help improve performance while reducing energy consumption.
  • Resurgent Growth in Industrial and Commercial Sectors: There is a growing industrial and commercial sector, particularly in emerging economies, that requires cooling tower applications. The growth in investment in cooling tower technologies is driven by the increasing need for reliable cooling systems in new and growing operations
  • Increasing Demand for Data Centers: With the rapid acceleration of the digital economy, data center requirements have emerged very quickly. Data centers demand some highly advanced cool solutions since high heat is given off from the servers and IT hardware equipment in use. The current trend driving this cooling towers' market will be to maintain optimally appropriate temperatures in these complexes, therefore a key trend to adopt the most appropriate efficient scalable cooling systems.
Cooling Towers Market Future Trends
  • Sustainability and Environmental Regulations: Sustainability is emerging as the increasing trend in the cooling tower market due to strict environmental regulations that would consume the minimum amount of water and energy possible. In such a backdrop, manufacturers focus their efforts on creating environmental-friendly solutions in cooling towers that fit within these sets of regulations according to sustainability expectations from its clients.
  • Growing Adoption of Modular and Compact Cooling Solutions: Modular and compact cooling solution designs are increasingly being adopted, especially where space is at a premium, such as in densely populated urban areas. These systems allow flexibility in installation and may easily be scaled up or down to vary the cooling demands on them-again in many applications across both industrial and commercial settings.
Cooling Towers Market Opportunities
  • Large Development Opportunity Cooling Technologies-Advancements: There exists an opportunity for new innovation in cooling tower technologies that can be formulated to design advance cooling systems using alternative cooling techniques, such as evaporative cooling and hybrids. Innovations like these can ensure higher efficiency and reduction in the consumption of water, attracting the environmentally conscious consumer or industry.
  • Cooling towers that make use of IoT and Smart Integration: This will be the next very lucrative option-the integration of IoT and smart technology with cooling towers. With IoT and smart technologies, continuous, real-time monitoring of the cooling processes will possibly be achieved, problems will be predicted before they even develop into an actual problem, and cooling towers will be remotely controllable - thus enhanced operational efficiency and decreased downtime

Market Report Scope

Key Selling Points

  • Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Cooling Towers Market, providing a holistic landscape.
  • Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
  • Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
  • Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.

The research report on the Cooling Towers Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.

REGIONAL FRAMEWORK
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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

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Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
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Frequently Asked Questions


Which are the leading players operating in the cooling tower market

The leading players includes SPX Corporations, ENEXIO, SPIG SPA (B&W), FANS a.s., Delta Cooling Towers, Inc., NALCO, Liang Chi Industry (THAILAND) Co., Ltd., Composite Cooling Solutions L.P., Johnson Controls Inc., Kelvion Holdings GmbH, Mesan Group

What are the deliverable formats of the cooling tower market report?

The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.

What are the options available for the customization of this report?

Some of the customization options available based on the request are an additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.

What are the driving factors impacting the cooling tower market?

The major factors driving the cooling tower market are: Increasing Need for Effective Thermal Management

What is the expected CAGR of the Cooling Towers Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type (Mechanical Draft Cooling, Atmospheric Cooling, Hybrid Draft Cooling, Hyperbolic Cooling, and Others); Construction (Factory Assembled, and Field-erected); End-user Industry (Chemical Processing, Healthcare & Pharmaceutical, Food Processing, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America)?

The Cooling Towers Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: by Type (Mechanical Draft Cooling, Atmospheric Cooling, Hybrid Draft Cooling, Hyperbolic Cooling, and Others); Construction (Factory Assembled, and Field-erected); End-user Industry (Chemical Processing, Healthcare & Pharmaceutical, Food Processing, and Others), and Geography (North America, Europe, Asia Pacific, and South and Central America) is estimated to witness a CAGR of 4.0% from 2023 to 2031

TABLE OF CONTENTS

1 INTRODUCTION
1.1 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
2 KEY TAKEAWAYS
3 COOLING TOWERS MARKET LANDSCAPE
3.1 OVERVIEW
3.2 MARKET SEGMENTATION
3.2.1 Cooling Towers Market - By Type
3.2.2 Cooling Towers Market - By Construction
3.2.3 Cooling Towers Market - By End-user Industry
3.2.4 Cooling Towers Market - By Region
3.2.4.1 By Countries
3.2.5 PEST Analysis
3.2.5.1 North America - PEST Analysis
3.2.5.2 Europe - PEST Analysis
3.2.5.3 Asia Pacific (APAC) - PEST Analysis
3.2.5.4 Rest of the World (RoW) - PEST Analysis
4 COOLING TOWERS MARKET - KEY INDUSTRY DYNAMICS
4.1 KEY MARKET DRIVERS
4.2 KEY MARKET RESTRAINTS
4.3 KEY MARKET OPPORTUNITIES
4.4 FUTURE TRENDS
4.5 IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC
5 COOLING TOWERS MARKET - GLOBAL MARKET ANALYSIS
5.1 COOLING TOWERS - GLOBAL MARKET OVERVIEW
5.2 COOLING TOWERS - GLOBAL MARKET AND FORECAST TO 2028
6 COOLING TOWERS MARKET REVENUE AND FORECASTS TO 2028 -TYPE
6.1 OVERVIEW
6.2 TYPE MARKET FORECASTS AND ANALYSIS
6.3 MECHANICAL DRAFT COOLING MARKET
6.3.1 Overview
6.3.2 Mecahanical draft cooling market forecast and analysis
6.4 ATMOSPHERIC COOLING MARKET
6.4.1 Overview
6.4.2 Atmospheric market forecast and analysis
6.5 HYBRID DRAFT COOLING MARKET
6.5.1 Overview
6.5.2 Hybrid draft cooling market forecast and analysis
6.6 HYPERBOLIC COOLING MARKET
6.6.1 Overview
6.6.2 Hyperbolic cooling market forecast and analysis
6.7 OTHERS MARKET
6.7.1 Overview
6.7.2 Others market forecast and analysis

7 COOLING TOWERS MARKET REVENUE AND FORECASTS TO 2028 -CONSTRUCTION
7.1 OVERVIEW
7.2 CONSTRUCTION MARKET FORECASTS AND ANALYSIS
7.3 FACTORY ASSEMBLED MARKET
7.3.1 Overview
7.3.2 Factory assembled market forecast and analysis
7.4 FIELD-ERECTED MARKET
7.4.1 Overview
7.4.2 Field-erected market forecast and analysis
8 COOLING TOWERS MARKET REVENUE AND FORECASTS TO 2028 - END-USER INDUSTRY
8.1 OVERVIEW
8.2 END-USER INDUSTRY MARKET FORECASTS AND ANALYSIS
8.3 CHEMICAL PROCESSING MARKET
8.3.1 Overview
8.3.2 Chemical processing market forecast and analysis
8.4 HEALTHCARE & PHARMACEUTICAL MARKET
8.4.1 Overview
8.4.2 Healthcare & pharmaceutical market forecast and analysis
8.5 FOOD & BEVERAGES PROCESSING MARKET
8.5.1 Overview
8.5.2 Food & beverages processing market forecast and analysis
8.6 OTHERS MARKET
8.6.1 Overview
8.6.2 Others market forecast and analysis

9 COOLING TOWERSMARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1 NORTH AMERICA
9.1.1 North America Cooling TowersMarket Overview
9.1.2 North America Cooling TowersMarket Forecasts and Analysis
9.1.3 North America Market Forecasts and Analysis - By Countries
9.1.3.1 US market
9.1.3.2 Canada market
9.1.3.3 Mexico market
9.1.4 North America Market Forecasts and Analysis - By Type
9.1.5 North America Market Forecasts and Analysis - By Construction
9.1.6 North America Market Forecasts and Analysis - By End-user Industry
9.2 EUROPE
9.2.1 Europe Cooling TowersMarket Overview
9.2.2 Europe Cooling TowersMarket Forecasts and Analysis
9.2.3 Europe Market Forecasts and Analysis - By Countries
9.2.3.1 France market
9.2.3.2 Germany market
9.2.3.3 Italy market
9.2.3.4 Spain market
9.2.3.5 UK market
9.2.3.6 Rest of Europe market
9.2.4 Europe Market Forecasts and Analysis - By Type
9.2.5 Europe Market Forecasts and Analysis - By Construction
9.2.6 Europe Market Forecasts and Analysis - By End-user Industry
9.3 ASIA PACIFIC (APAC)
9.3.1 Asia Pacific Cooling Towers Market Overview
9.3.2 Asia Pacific Cooling Towers Market Forecasts and Analysis
9.3.3 Asia Pacific Market Forecasts and Analysis - By Countries
9.3.3.1 Australia market
9.3.3.2 China market
9.3.3.3 India market
9.3.3.4 Japan market
9.3.3.5 Rest of Asia-Pacific market
9.3.4 Asia Pacific Market Forecasts and Analysis - By Type
9.3.5 Asia Pacific Market Forecasts and Analysis - By Construction
9.3.6 Asia Pacific Market Forecasts and Analysis - By End-user Industry
9.4 MIDDLE EAST AND AFRICA (MEA)
9.4.1 Middle East & Africa Cooling Towers Market Overview
9.4.2 Middle East & Africa Cooling Towers Market Forecasts and Analysis
9.4.3 Middle East & Africa Market Forecasts and Analysis - By Countries
9.4.3.1 Saudi Arabia market
9.4.3.2 UAE East market
9.4.3.3 South Africa market
9.4.3.4 Rest of MEA market
9.4.4 Middle East & Africa Market Forecasts and Analysis - By Type
9.4.5 Middle East & Africa Market Forecasts and Analysis - By Construction
9.4.6 Middle East & Africa Market Forecasts and Analysis - By End-user Industry
9.5 SOUTH AMERICA (SAM)
9.5.1 South America Cooling Towers Market Overview
9.5.2 South America Cooling Towers Market Forecasts and Analysis
9.5.3 South America Market Forecasts and Analysis - By Countries
9.5.3.1 Brazil market
9.5.3.2 Rest of South America market
9.5.4 South America Market Forecasts and Analysis - By Type
9.5.5 South America Market Forecasts and Analysis - By Construction
9.5.6 South America Market Forecasts and Analysis - By End-user Industry
10 INDUSTRY LANDSCAPE
10.1 MERGERS & ACQUISITIONS
10.2 MARKET INITIATIVES
10.3 NEW DEVELOPMENTS
10.4 INVESTMENT SCENARIOS
11 COMPETITIVE LANDSCAPE
11.1 COMPETITIVE PRODUCT MAPPING
11.2 MARKET POSITIONING/ MARKET SHARE
12 COOLING TOWERSMARKET, KEY COMPANY PROFILES
12.1 SPX CORPORATIONS
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Financial Overview
12.1.4 SWOT Analysis
12.1.5 Key Developments
12.2 HAMON AXISPARC
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Financial Overview
12.2.4 SWOT Analysis
12.2.5 Key Developments
12.3 ENEXIO
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Financial Overview
12.3.4 SWOT Analysis
12.3.5 Key Developments
12.4 SPIG SPA
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Financial Overview
12.4.4 SWOT Analysis
12.4.5 Key Developments
12.5 FANS AS
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Financial Overview
12.5.4 SWOT Analysis
12.5.5 Key Developments
12.6 DELTA COOLING TOWERS, INC.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Financial Overview
12.6.4 SWOT Analysis
12.6.5 Key Developments
12.7 NALCO
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Financial Overview
12.7.4 SWOT Analysis
12.7.5 Key Developments
12.8 LIANG CHI INDUSTRY (THAILAND) CO., LTD.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Financial Overview
12.8.4 SWOT Analysis
12.8.5 Key Developments
12.9 COMPOSITE COOLING SOLUTIONS L.P.
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Financial Overview
12.9.4 SWOT Analysis
12.9.5 Key Developments
12.10 JOHNSON CONTROLS INC.
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Financial Overview
12.10.4 SWOT Analysis
12.10.5 Key Developments

13 APPENDIX
13.1 ABOUT THE INSIGHT PARTNERS
13.2 GLOSSARY OF TERMS
13.3 RESEARCH METHODOLOGY
The List of Companies

1. SPX Corporations
2. HAMON AXISPARC
3. ENEXIO
4. SPIG SPA
5. FANS a.s.
6. Delta Cooling Towers, Inc.
7. NALCO
8. Liang Chi Industry (THAILAND) Co., Ltd.
9. Composite Cooling Solutions L.P.
10. Johnson Controls Inc.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

Your data will never be shared with third parties, however, we may send you information from time to time about our products that may be of interest to you. By submitting your details, you agree to be contacted by us. You may contact us at any time to opt-out.

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