The global market for Cooling Towers is projected to reach US$5.1 billion by 2024, driven by technology innovations aimed at water conservation; stringent energy efficiency norms that necessitate adoption of better heat transfer practices in industrial plants; and recovery in industrial activities in sectors such as power generation, manufacturing, mining, and food processing. In the energy sector, the focus on modernizing, upgrading and expanding energy generation infrastructure in both developed and developing markets alike is projected to bring in new opportunities for cooling tower replacements. The global focus on shed on clean coal technologies against the backdrop of coal continuing to remain a major source of energy will drive demand for large energy efficient hybrid cooling towers. Cooling towers will remain critical to process efficiency and environmental goals of utilities given their ability to dissipate large heat loads without harmful GHG emissions. Modern cooling towers supported by smart automated controls have even higher energy efficiency and performance benefits that endear them to the emerging clean energy future. The growing pressure to use recycled municipal wastewater for cooling in utilities will drive adoption of hybrid cooling towers in the coming years. Other equally interesting factors shaping growth in the market include increased visibility of cooling towers in non-industrial sectors supported by the launch of small compact models and innovations in rooftop cooling towers; gains in commercial construction projects, increased focus on building energy management technologies and the ensuing demand for HVAC cooling towers; resurgence of interest in nuclear power as a sustainable low carbon energy source; voluntary focus on energy savings among industries as a broader part of the goal of achieving operational efficiency; growing R&D interest in the design of drift eliminators to reduce drift from cooling tower steam as emission regulations of primary PM2.5 and PM10 particulate matter becomes stricter. Europe and the United States represent the largest markets worldwide. Asia-Pacific ranks as the fastest growing market with a CAGR of 6.2% over the analysis period led by stable economic performance; well established industrial base in countries such as China, India, Korea, Singapore, and Taiwan; massive urbanization and industrialization; rapid development of commercial real estate and the resulting new demand for building HVAC cooling towers; and continuous technology advancements that encourage investments in periodic upgrades.  

Download Free Sample Pages of this report

Company and Industry News & Stories
  • Aggreko Unveils New GT Series of Mobile Cooling Towers Designed to Offer Enhanced Energy Efficiency Benefits
  • SPX Showcases New Marley Cooling Towers, NC Everest® Crossflow Cooling Tower and the Marley MD Everest® Counterflow Cooling Tower in Orlando, Florida
  • SPX Cooling Technologies Launches New, Larger Models of Marley MD Everest Counterflow Cooling Towers to Deliver Almost Three Times More Cooling Capacity Compared to Other Counterflow Cooling Towers
  • Tower Tech Introduces New Split Cell Cooling Tower Crafted for Meeting the Needs of an Ever-Changing Environment
  • Midwest Acquires Minority Stake in Cooling Tower Resources in a Move to Strategically Grow its Maintenance Services & Rental Cooling Tower Business

Outlook in Key Market Segments
  • Through 2024, Heavy Industrial & Utility will remain the largest end-use market, followed by Air Conditioning/HVAC sector.
  • Air Conditioning/HVAC sector is projected to witness the fastest growth driven by recovery in the construction industry wherein cooling towers are used to reject the heat generated by a chiller in buildings.

Product Definition & Scope
  • Cooling towers are basically heat transfer units used to remove heat from water-cooled systems. A cooling tower is essential in any application where the temperature of water is to be lowered beyond a certain degree.

Timeline for Analysis
  • Market Estimates and Forecasts for 2016-2024
  • Historic Review 2011-2015

Geographic Markets Analyzed
  • US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China and Rest of Asia-Pacific), Latin America and Rest of World

Market Segmentation & Classification
  • End-Use Segments:
    • Air Conditioning/HVAC, Heavy Industrial & Utility, Chemicals & Petrochemicals and Others

Major Players
  • Baltimore Aircoil Company
  • Bell Cooling Towers
  • Composite Cooling Solutions
  • Delta Cooling Towers, Inc.
  • Evaptech, Inc.
  • Ilmed Impianti Srl
  • Mesan Cooling Tower Ltd.

How Can You Benefit?
This research project broadly covers analysis of all market trends, drivers, challenges and other macro market scenarios you need to know to improve your strategic planning and remain informed and competitive. The study also provides reliable ready facts and exclusive statistical data insights in addition to expert and highly accurate market size forecasts and projections to help you identify new markets and opportunities for revenue growth and sustainability. The extensive reportage of industry, company and product news and stories together with coverage of all major and niche players provided in the report helps you build a 360 degree perspective on your markets and gain unsurpassed insights needed to devise plans and strategies to maximize business growth.