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Cooling Tower Market Trends and Forecast

The future of the global cooling tower market looks promising with opportunities in the power generation, HVACR, food & beverage, chemical, petrochemical, and oil & gas industries. The global cooling tower market is expected to grow with a CAGR of 4% to 6% from 2023 to 2028. The major drivers for this market are rising construction activities with advanced technologies, growing investments in industrial sector, and rise in HVACR deployments.  
Cooling Tower Market by Product Type, Technology, Material, and Application

A more than 150-page report is developed to help in your business decisions.  Sample figures with some insights are shown below. 
Cooling Tower Market by Segments
 

Cooling Tower Market by Segment

The study includes a forecast for the global cooling tower market by product type, technology, material, application, and region, as follows:

Cooling Tower Market by Product Type [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Evaporative Cooling Tower
  • Dry Cooling Tower
  • Hybrid Cooling Tower

Cooling Tower Market by Technology [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Open Circuit
  • Close Circuit
  • Hybrid Circuit

Cooling Tower Market by Material [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Concrete
  • Steel
  • FRP
  • Wood

Cooling Tower Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:

  • Power Generation
  • HVACR
  • Food & Beverage
  • Chemical
  • Petrochemical and Oil & Gas
  • Others

Cooling Tower Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:

  • North America
  • Europe
  • Asia Pacific
  • The Rest of the World

List of Cooling Tower Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies cooling tower companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the cooling tower companies profiled in this report include. 

Cooling Tower Market Insights

  • Lucintel forecasts that evaporative cooling tower will remain the largest segment over the forecast period due to its ability to perform reliable operations in hot ambient conditions, reduced noise pollution, lower maintenance costs, high performance, and energy efficiency.
  • Power generation is expected to remain the largest segment due to new power plants being established all over the world to cater to the rising demand for power in line with rapid industrialization and rise in disposable income.
  • APAC will remain the largest region due to the growing focus on nuclear power plant construction, rising number of manufacturing facilities, and expansion of the industrial sector in this region.

Features of the Cooling Tower Market

  • Market Size Estimates: Cooling towers market size estimation in terms of value ($B)
  • Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
  • Segmentation Analysis: Cooling towers market size by various segments, such as by product type, technology, material, application, and region.
  • Regional Analysis: Cooling towers market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
  • Growth Opportunities: Analysis on growth opportunities in different by product type, technology, material, application, and regions for the cooling tower market.
  • Strategic Analysis: This includes M&A, new product development, and competitive landscape for the cooling tower market.
  • Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the cooling tower market size?
Answer: The global cooling tower market is expected to reach an estimated $xx billion by 2028.
Q2. What is the growth forecast for cooling tower market?
Answer: The global cooling tower market is expected to grow with a CAGR of 4% to 6% from 2023 to 2028.
Q3. What are the major drivers influencing the growth of the cooling tower market?
Answer: The major drivers for this market are rising construction activities with advanced technologies, growing investments in industrial sector, and rise in HVACR deployments.  
Q4. What are the major segments for cooling tower market?
Answer: The future of the cooling tower market looks promising with opportunities in the power generation, HVACR, food & beverages, chemical, petrochemical, and oil & gas industries.
Q5. Who is the key cooling tower companies?
Answer: Some of the key cooling tower companies are as follows:
  • SPX Corporation
  • Baltimore Aircoil
  • Evapco
  • Bell Cooling Tower
  • Brentwood Industries
  • Enexio
  • Star Cooling Tower
  • SPIG S.p.A.
  • Paharpur Cooling Tower
  • Hamon & Cie International SA
Q6. Which cooling tower segment will be the largest in future?
Answer: Lucintel forecasts that evaporative cooling tower will remain the largest segment over the forecast period due to its ability to perform reliable operations in hot ambient conditions, reduced noise pollution, lower maintenance costs, high performance, and energy efficiency.
Q7. In cooling tower market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region due to the growing focus on nuclear power plant construction, rising number of manufacturing facilities, and expansion of the industrial sector in this region.
Q8. Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the cooling tower market by product type (evaporative cooling tower, dry cooling tower, and hybrid cooling tower), technology (open circuit, close circuit, and hybrid circuit), material (concrete, steel, FRP, and wood), application (power generation, HVACR, food & beverages, chemical, petrochemical and oil & gas, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
 
For any questions related to cooling tower market or related cooling tower companies, cooling tower market size, cooling tower market share, cooling tower analysis, write Lucintel analyst at email: helpdesk@lucintel.com  we will be glad to get back to you soon.
Table of Contents
 
1. Executive Summary
 
2. Global Cooling Tower Market: Market Dynamics
2.1: Introduction, Background, and Classifications
2.2: Supply Chain
2.3: Industry Drivers and Challenges
 
3. Market Trends and Forecast Analysis from 2017 to 2028
3.1: Macroeconomic Trends (2017-2022) and Forecast (2023-2028)
3.2: Global Cooling Tower Market Trends (2017-2022) and Forecast (2023-2028)
3.3: Global Cooling Tower Market by Product Type 
3.3.1: Evaporative Cooling Tower 
3.3.2: Dry Cooling Tower 
3.3.3: Hybrid Cooling Tower 
3.4: Global Cooling Tower Market by Technology 
3.4.1: Open Circuit
3.4.2: Close Circuit 
3.4.3: Hybrid Circuit 
3.5: Global Cooling Tower Market by Material 
3.5.1: Concrete
3.5.2: Steel
3.5.3: FRP
3.5.4: Wood 
3.6: Global Cooling Tower Market by Application 
3.6.1: Power Generation
3.6.2: HVACR
3.6.3: Food & Beverages
3.6.4: Chemical
3.6.5: Petrochemical and Oil & Gas
3.6.6: Others 
 
4. Market Trends and Forecast Analysis by Region from 2017-2028
4.1: Global Cooling Tower Market by Region
4.2: North American Cooling Tower Market
4.2.1: North American Cooling Tower Market by Product Type: Evaporative Cooling Tower, Dry Cooling Tower, and Hybrid Cooling Tower
4.2.2: North American Cooling Tower Market by Application: Power Generation, HVACR, Food & Beverages, Chemical, Petrochemical and Oil & Gas, and Others
4.3: European Cooling Tower Market
4.3.1: European Cooling Tower Market by Product Type: Evaporative Cooling Tower, Dry Cooling Tower, and Hybrid Cooling Tower
4.3.2: European Cooling Tower Market by Application: Power Generation, HVACR, Food & Beverages, Chemical, Petrochemical and Oil & Gas, and Others
4.4: APAC Cooling Tower Market 
4.4.1: APAC Cooling Tower Market by Product Type: Evaporative Cooling Tower, Dry Cooling Tower, and Hybrid Cooling Tower
4.4.2: APAC Cooling Tower Market by Application: Power Generation, HVACR, Food & Beverages, Chemical, Petrochemical and Oil & Gas, and Others
4.5: ROW Cooling Tower Market 
4.5.1: ROW Cooling Tower Market by Product Type: Evaporative Cooling Tower, Dry Cooling Tower, and Hybrid Cooling Tower
4.5.2: ROW Cooling Tower Market by Application: Power Generation, HVACR, Food & Beverages, Chemical, Petrochemical and Oil & Gas, and Others
 
5. Competitor Analysis
5.1: Product Portfolio Analysis
5.2: Operational Integration
5.3: Porter’s Five Forces Analysis
 
6. Growth Opportunities and Strategic Analysis
6.1: Growth Opportunity Analysis
6.1.1: Growth Opportunities for the Global Cooling Tower Market by Product Type 
6.1.2: Growth Opportunities for the Global Cooling Tower Market by Technology 
6.1.3: Growth Opportunities for the Global Cooling Tower Market by Material 
6.1.4: Growth Opportunities for the Global Cooling Tower Market by Industry Application 
6.1.5: Growth Opportunities for the Global Cooling Tower Market by Region
6.2: Emerging Trends in the Global Cooling Tower Market 
6.3: Strategic Analysis
6.3.1: New Product Development
6.3.2: Capacity Expansion of the Global Cooling Tower Market 
6.3.3: Mergers, Acquisitions, and Joint Ventures in the Global Cooling Tower Market
 
7. Profiles of Leading Players
7.1: SPX Corporation
7.2: Baltimore Aircoil
7.3: Evapco
7.4: Bell Cooling Tower
7.5: Brentwood Industries
7.7: Enexio
7:8: Star Cooling Tower
7.9: SPIG S.p.A. 
7.10: Paharpur Cooling Tower
 
.

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Lucintel has been in the business of market research and management consulting since 2000 and has published over 1000 market intelligence reports in various markets / applications and served over 1,000 clients worldwide. This study is a culmination of four months of full-time effort performed by Lucintel's analyst team. The analysts used the following sources for the creation and completion of this valuable report:
  • In-depth interviews of the major players in this market
  • Detailed secondary research from competitors’ financial statements and published data 
  • Extensive searches of published works, market, and database information pertaining to industry news, company press releases, and customer intentions
  • A compilation of the experiences, judgments, and insights of Lucintel’s professionals, who have analyzed and tracked this market over the years.
Extensive research and interviews are conducted across the supply chain of this market to estimate market share, market size, trends, drivers, challenges, and forecasts. Below is a brief summary of the primary interviews that were conducted by job function for this report.
 
Thus, Lucintel compiles vast amounts of data from numerous sources, validates the integrity of that data, and performs a comprehensive analysis. Lucintel then organizes the data, its findings, and insights into a concise report designed to support the strategic decision-making process. The figure below is a graphical representation of Lucintel’s research process. 
 

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