The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

As per The Business Research Company’s Cooling Tower Global Market Report 2023, the cooling tower market is expected to show significant growth in the forecast period.

Key insights from the cooling tower market forecast include:

1. Market Size

The global cooling tower market is expected to grow from $3.23 billion in 2022 to $3.33 billion in 2023 at a compound annual growth rate (CAGR) of 2.9%. The market size of the cooling tower is expected to grow to $3.99 billion in 2027 at a CAGR of 4.6%.

2. Major Driver

Rising demand for cooling towers from Asia-Pacific developing regions is likely to drive the cooling tower industry. According to the World Nuclear Association, a UK-based international organisation that promotes nuclear power and supports the enterprises that form the global nuclear sector in Asia, there will be approximately 135-140 operable nuclear power reactors in February 2022. Around 35 reactors are currently under construction, with another 50-60 in the proposal or planning stages. During the projected period, these development efforts in developing regions are expected to enhance demand for cooling towers.

View More On The Cooling Tower Market Report 2023 – https://www.thebusinessresearchcompany.com/report/cooling-tower-global-market-report

3. Key Trend

The use of environmentally friendly goods is a major trend in the cooling tower market. Eco-friendly devices distribute heat using water rather than air, which is approximately 3,200 times more efficient and environmentally beneficial. For example, B&W Environment successfully constructed a new cooling tower system for Naturgy Generación’s combined-cycle natural gas power plant in September 2020. B&W Environmental’s seawater cooling towers help to decrease or eliminate the requirement for desalination and cooling water processing, which protects sensitive marine habitats and reduces total environmental impact.

4. Major Players

Major players in the cooling tower market are 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.

5. Top Market Segments

The global cooling tower market is segmented –

1) By Type: Evaporative Cooling Tower, Dry Cooling Tower, Hybrid Cooling Tower

2) By Flow: Cross Flow, Counter Flow

3) By Application: Chemicals, Petrochemicals, Power Generation, HVACR, Food & Beverages, Other Applications

Request A Sample Of The Global Cooling Tower Market Report 2023:

https://www.thebusinessresearchcompany.com/sample.aspx?id=5964&type=smp

The Cooling Tower Global Market Report 2023  provides an in-depth analysis on the cooling tower market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the cooling tower market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Cooling Fabrics Global Market Report 2023

Light Towers Global Market Report 2023

Remote Towers Global Market Report 2023

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