Global Cooling Towers Strategic Business Report 2023: Artificial Intelligence & Electronification of Controls Make Disruptive Impact

Global Market for Cooling Towers

Dublin, May 08, 2023 (GLOBE NEWSWIRE) -- The "Cooling Towers: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.Global Cooling Towers Market to Reach $5.4 Billion by 2030The global market for Cooling Towers estimated at US$3.7 Billion in the year 2022, is projected to reach a revised size of US$5.4 Billion by 2030, growing at a CAGR of 4.9% over the analysis period 2022-2030.

Wet Towers, one of the segments analyzed in the report, is projected to record a 5.4% CAGR and reach US$3.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Dry Towers segment is readjusted to a revised 3.7% CAGR for the next 8-year period. The U.S. Market is Estimated at $987.4 Million, While China is Forecast to Grow at 6.9% CAGRThe Cooling Towers market in the U.S. is estimated at US$987.4 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$463.2 Million by the year 2030 trailing a CAGR of 6.9% over the analysis period 2022 to 2030.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4% and 4.9% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 4.1% CAGR.

What`s New for 2023?

Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.

Global competitiveness and key competitor percentage market shares

Market presence across multiple geographies - Strong/Active/Niche/Trivial

Online interactive peer-to-peer collaborative bespoke updates

Access to digital archives and Research Platform

Complimentary updates for one year

Key Attributes:

Report Attribute

Details

No. of Pages

490

Forecast Period

2022 - 2030

Estimated Market Value (USD) in 2022

$3.7 Billion

Forecasted Market Value (USD) by 2030

$5.4 Billion

Compound Annual Growth Rate

4.8%

Regions Covered

Global

MARKET TRENDS & DRIVERS

Artificial Intelligence & Electronification of Controls Make Disruptive Impact on Cooling Tower Performance Monitoring & Operation

A Popular Type of Heat Exchanger, Cooling Towers Play Key Role in Industrial Process Heat Management

A Critical Capital Investment for Industries Where Cooling Forms an Important Part of Production/Manufacturing Processes, Cooling Towers Represents One of the Largest Segments of the Heat Exchangers Market

Growing Prominence of Robotic & Intelligent Process Automation in the Era of Smart Factories to Drive the Commercial Value of Cooling Towers with Electronic Controls

As Hidden Profit Centers, Energy Efficient Cooling Towers Grow in Prominence

Energy Efficient Cooling Towers Win the Race Against the Backdrop of Growing Popularity of Energy Audits & the Ensuing Spotlight on Cooling Towers as the Most Neglected Process Equipment With the Potential for Energy Optimization

Undeniable Productivity Benefits of Industrial Energy Efficiency Measures to Spur the Commercial Value of Energy Efficient Cooling Towers

Medley of Factors Dole Out Challenges & Opportunities in Equal Measure for Cooling Towers in the Global Oil Refining Market

With Growth Skewed Towards Alternative Liquid Fuels, Oil Refineries Face a High Risk Exposure as the Oil Shake Up Marks the Transition Towards a Low Carbon Economy

Cornering a Large Percentage of New Refining Capacity Additions, Developing Regions & the USA Emerge as Lucrative Pockets of Growth for Cooling Towers in the Oil Refining Sector

Recovery in Construction Activity Spurs Demand for Rooftop Packaged HVAC Cooling Towers

Steady Gains in Construction Industry & Mandatory Building Energy Efficiency Provisions to Drive Opportunities for HVAC Cooling Towers

Cooling Towers Emerge Into a More Desirable Solution for HVAC Cooling Needs in Buildings Supported by the Smart Connectivity Benefits Offered by Building Automation Systems (BAS)

Although Declining in Numbers, the Growing Size of an Average Datacenter Due to the Ongoing Consolidation Trend Will Offer Opportunities for Evaporative Cooling Towers

Higher Energy Benefits Over & Above Air-Cooled Chiller Plants to Drive Demand for Water Cooled Chillers with Integrated Cooling Towers in Datacenters

Rising Global Energy Needs Drives Stable Growth of Cooling Towers in the Power Generation/Utilities Sector

As the Icon of Thermal Energy Generation, Large Cooling Towers Continue to Find Attractive Opportunities in Coal Fired Power Plants

Robust Outlook for Clean Coal Power to Drive Demand for Power Plant Cooling Towers

Focus on Renewable Energy: A Double Win for Cooling Towers in the Energy Sector

Dry Cooling Towers & Hybrid Wet/Dry Cooling Towers Emerge Into the Spotlight as CSPs Boxed In Water Scarcity Issues, Embark on the Quest for Water Conservation

Robust Outlook for Renewables to Echo Downstream Into the Cooling Towers Market

Expected Revival of Nuclear Energy to Drive Opportunities in the Cooling Towers Market

With 507 Operational & Under Construction Nuclear Reactors, Demand for Cooling Towers in Nuclear Power Plants is Poised for Growth in the Medium to Long Term Period

Nuclear Power to Drive Demand for Cooling Towers

Evaporative Credits Offered by Utilities Strengthens the Business Case for the Use of Cooling Towers

As the Costs of Owning & Operating a Plant Becomes Expensive, Cooling Towers with Their Low Water Drainage Loss Emerge Attractive for Obtaining Water Evaporation Credits

Uncertainties Resurface After Two Years of Recovery in the Mining Industry, Throwing Mine Cooling Towers Back Into Stress

As Deep Mines Begin to Invade the Earth's Forbidden Zone, Efficient Mine Cooling Towers Will Grow in Prominence Over the Long-Term Period

With Annualized Exploration Spending Growth Beginning to Recede Tempered Outlook Makes a Comeback for Mine Cooling Towers

Healthy Outlook for the World Chemical Industry Extends a Fillip to Cooling Towers Demand

Projected Stability in Capital Spending in the Chemical Industry Provides Opportunities for New and Replacement Demand for Cooling Towers

Healthy Market for Processed Food to Benefit Demand for Cooling Towers in the Food Processing Sector

As the Hidden Workhorses of Heating and Cooling in the Food & Beverage Industry, Demand for Cooling Towers Benefits from the Growing Demand for Packaged Food

Stringent Environmental Norms & Worsening Water Shortages Drive Demand for Closed Circuit Dry Cooling Towers

Advancements in Water Treatment Processes

Hybrid Cooling Towers Rise in Importance & Commercial Value

Growing Popularity of Hybrid Cooling Towers as Measured by their Growing Share in the Cooling Towers Rental Space as an Illustrative Case in Point

Current State of Hybrid Cooling Towers Market

Technology Innovations Remain Critical to Growth

Saving Water Through Vapor-Collection Technology

Next-generation Factory Assembled Cooling Towers to Positively Impact Bottom Line of HVAC and Industrial Processes

Advancements in Plume Abatement Technologies and Drift Eliminators to Address Environmental Concerns

New Design and Material Innovations Increase Cooling Efficiency

Electric Pulse Technology, an Alternative to Water Treatment Chemicals in Cooling Towers

A Review of Innovations in Construction Materials for Cooling Towers

Power Transmission Technologies in Cooling Tower

Study on Water Efficiency for Cooling Technology

Research to Overcome the Excessive Water Consumption Barrier

Changes in Cooling Water Treatment Processes

Reducing Cooling Tower Maintenance Through Automation

FOCUS ON SELECT PLAYERS (Total 103 Featured)

Artech Cooling Towers Pvt. Ltd.

Babcock & Wilcox Enterprises, Inc.

Baltimore Aircoil Company Inc.

Bell Cooling Tower

BERG Chilling Systems, Inc.

Brentwood Industries, Inc.

Composite Cooling Solutions L.P

Cooling Tower Depot, Inc.

Cooling Tower Systems, Inc.

Delta Cooling Towers, Inc.

ENEXIO Management GmbH

EVAPCO, Inc.

EWK Equipos de Refrigeracion, S.A.

FANS a.s.

Hamon & Cie (International) SA

ILMED IMPIANTI SRL

JACIR - GOHL

JAEGGI Hybridtechnologie AG

Johnson Controls Inc.

Kelvion Holding GmbH

Krones AG

Liang Chi Industry (THAILAND) Co., Ltd.

Mastertech Services Inc.

MESAN Group

MITA Cooling Technologies Srl

Paharpur Cooling Tower Limited

REYMSA COOLING TOWERS, INC.

Ryowo Holding Co., Ltd.

SPX Cooling Technologies, Inc.

Star Cooling Tower Pvt. Ltd.

Superchill Australia Pty Ltd.

Thermal Care Inc.

For more information about this report visit https://www.researchandmarkets.com/r/t9pjq0

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Global Market for Cooling Towers