Global Cooling Tower Market Size, Forecasts, And Opportunities – Includes Cooling Tower Market Trends
Learn about the global cooling tower market through The Business Research Company, which provides information on cooling tower market size, cooling tower market drivers and restraints, cooling tower market players, the COVID-19 impact on the cooling tower market, and more.
The global cooling tower market size is expected to grow from $2.97 billion in 2021 to $3.14 billion in 2022 at a compound annual growth rate (CAGR) of 5.67%. The global cooling tower market size is expected to reach $3.76 billion in 2026 at a CAGR of 4.63%.
Rising demand for cooling towers from the developing markets of Asia-Pacific is expected to drive the cooling tower market.
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The cooling tower market consists of sales of the cooling tower by entities (organizations, sole traders, partnerships) that refers to specialized heat exchanger, in which air and water are forced into a direct contact to reduce the water’s temperature. During the colling tower process, small quantity of water evaporates and lowers the water, which is being circulated throughout the tower.
Global Cooling Tower Market Segments Include:
By Type: Evaporative Cooling Tower, Dry Cooling Tower, Hybrid Cooling Tower
By Flow: Cross Flow, Counter Flow
By Application: Chemicals, Petrochemicals, Power Generation, HVACR, Food & Beverages, Other Applications
By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America was the largest region in the cooling tower market in 2021.
The installation of eco-friendly products is a key trend in the cooling tower market. Eco-friendly products use water rather than air to transport heat rather than air, which is roughly 3,200 times more efficient and environmentally friendly.
Major Market Players: SPX Corporation, Baltimore Aircoil Company, Evapco Inc, Bell Cooling Tower, Brentwood Industries Inc., Enexio, Paharpur Cooling Towers, ENEXIO Management, Baltimore Aircoil Company (BAC), Hamon & Cie International SA, Johnson Controls, Perfect Cooling Towers, and Thermal Care.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Time Series: Five years historic (2016-21) and ten years forecast (2022-2026-2031)
The Cooling Tower Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides cooling tower market overviews, analyzes and forecasts market size, share, cooling tower market players, cooling tower market segments and geographies, leading competitor revenues, profiles and market shares.
TBRC’s cooling tower market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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