Cooling Tower Market

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Cooling Tower Market by Type (Evaporative, Dry, Hybrid), Design (Natural, Mechanical), Material (Concrete, Steel, FRP, Wood), Flow Type, Technology, Application (Power Generation, HVACR, Food & Beverages) and Region - Global Forecast to 2026

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Report Code: CH 3509 Mar, 2022, by marketsandmarkets.com

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Updated on : April 15, 2023

Cooling Tower Market

The global cooling tower market was valued at USD 2.1 billion in 2021 and is projected to reach USD 2.6 billion by 2026, growing at a cagr 4.5% from 2021 to 2026. Increasing demand from emerging markets, stringent environmental regulations, rise in HVACR deployments, and technological advancements are boosting the demand for cooling towers.

To address the cooling needs of industrial processes, dry cooling towers don't use water or evaporation. These towers can accommodate temperature changes of about 10°C or less. The absence of fog, mist, and icing is just one benefit of the dry cooling tower. By minimising water use, evaporative losses, and thermal pollution, it also offers a permanent solution to water issues. The food & beverage and HVACR systems application groups have high demand for dry cooling towers.

Cooling Tower Market

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COVID-19 impact on global Cooling Tower Market

Power generation is one of the significant consumers of cooling towers owing to its requirements of energy conservation, energy efficiency, and strengthening of pipes, machinery, tanks, and boilers. Most of the electricity is consumed in the industrial sector followed by residential and commercial & services sectors.

In Q1 2020, the sector witnessed a decline of approximately 2.5% in demand, as compared to the same period in 2019. The decline can be attributed to the reduced consumption from industrial and commercial sectors. Establishments were forced to close due to government-initiated lockdowns, social distancing measures, and restricted supply chains. However, demand normalized again, driven by the recovery of economic activities in various countries.

Oil & gas industry has experienced significant decline in demand due to the pandemic. The oil & gas industry had already been weakened during the last few years due to the steep decline in the prices of oil which began mid-2014 and accelerated price decline.

The sector experienced an additional shock in 2020 due to outbreak of COVID-19. The outbreak of the COVID-19 pandemic and the declining demand due to the worldwide lockdowns forced major refiners to shut down their operations.

Cooling Tower Market Dynamics

Driver: Rise in HVACR deployments and growth in industrial activities

Moderate growth of global commercial construction industry accompanied by increasing modernization & urbanization in emerging economies have boosted the demand for cooling towers. Rise in HVACR deployments owing to increased government investments in this industry are further boosting the market growth. Cooling towers are extensively used as part of building HVACR systems whereby they dispose excess heat from chillers. Thus, surging demand for HVACR equipment in buildings and industrial applications is expected to drive the cooling tower market globally. Factors such as climate changes and technological innovations have boosted the adoption of HVACR equipment. Changing and unpredictable weather conditions caused by global warming have also increased the demand for cooling towers.

Restraint: Sluggish market growth in Europe and North America

Cooling tower market in Europe and North America has reached to the stage of maturity and hence is experiencing sluggish growth. Though these regions account for a significant market share, growth during the forecast period is expected to be relatively slow as compared to the emerging regions. Demand in these regions is expected to be majorly driven by an amplified focus on improving energy efficiency and meeting environmental regulations. Demand for replacements of cooling towers in these regions is expected to expand compared to the new installations. Thus, as the markets in Europe and North America do not offer scope for new installations, resulting in an overall reduced growth rate.

Opportunity: Rising demand from nuclear power generation sector

The cooling tower is an essential component of a nuclear reactor. Performance properties of a cooling tower has significant impact on the overall efficiency and power output of a nuclear power plant. Cooling towers utilized in nuclear power plants primarily based on hybrid or wet technology. They are utilized for high pressure & temperature applications and various manufacturing processes wherein process cooling is required. These are utilized in different nuclear processes such as closed loop system cooling, central cooling, moisture separator reheating, and various others. As nuclear energy is among the most emerging future source of energy, it presents ample opportunities for cooling towers market.

Challenge: Frequent corrosion in system results in reduced efficiency

Thick chemicals circulating through the water supply result in corrosion, thus threatening the utility and efficiency of this cooling tower. Corrosion affects the cooling tower system in two ways, firstly, due to corrosion, there is equipment failure which incurs additional installation costs, repairs, and timely maintenance. Secondly, the efficiency of the plant decreases due to the loss of heat transfer. These factors challenge the growth of this market.

Cooling Towers Market Ecosystem

Cooling Tower Market by Region

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Evaporative cooling tower is the most consumed type of cooling tower in 2020

Evaporative cooling towers are widely positioned in hot-dry climates to cool outdoor air and circulate it in a building or an area. They are also being used significantly in HVAC systems. The growth of the evaporative cooling tower market is majorly attributed to the rising installation of direct and indirect evaporative cooling systems. The evaporative cooling tower segment accounted for the largest market share in 2020, and the segment is projected to reach USD 1,417.0 million by 2026, growing at a CAGR of 4.4% during the forecast period. Evaporative cooling towers have the highest demand as these are used in industrial processes around the world. These towers are majorly used in industries which have larger cooling requirements such as electrical power generation.

Mechanical draft cooling tower is the highly consumed design of cooling tower in 2020

Mechanical draft cooling towers have a compact in size and require low construction costs. Mechanical draft cooling towers are further categorized into four segments, namely, forced draft tower, induced draft tower, counterflow induced draft tower, and crossflow induced draft tower. The mechanical draft cooling towers segment accounted for the largest market share in 2020, and is projected to reach USD 2,083.5 million by 2026, growing at a CAGR of 4.6% during the forecast period. The high market share of this segment is due to its wide usage in HVACR systems and power industry applications. This market share is further expected to rise due to the growing building & construction industry in the Asia Pacific region. They are compact in size and the cost of construction is low. These are available in both, factory assembled and field erected modes and are majorly suitable for use in all HVACR, food & beverage, power, and chemical applications.

APAC is expected to be the fastest-growing market during the forecast period

Asia Pacific region has availability of low-cost raw materials and labour. The region also experiences increasing domestic demand, making it an attractive investment destination for cooling towers manufacturers. The rising population, urbanization, industrialization, and growing concerns related to infrastructure development in China and India are some of the factors that will drive the cooling tower market in this region. Asia Pacific is a key market to produce cooling towers production and is projected to grow at a CAGR of 5.5% in terms of value during the forecasted period.

Cooling Tower Market by Region

Cooling Tower Market
Key Market Players

Major players operating in the global cooling tower market include EVAPCO (US), Baltimore Aircoil Company Inc. (US), SPX Corporation (US), Artech Cooling Towers Pvt. Ltd. (India), Babcock & Wilcox Enterprises (US), Brentwood Industries (US), Johnson Controls Inc. (Ireland), Paharpur Cooling Tower Ltd. (India), Enexio (Germany), and Hamon & CIE International (Belgium).

Cooling Tower Market Report Scope

Report Metric	Details
Market Size Value in 2021	USD 2.1 billion
Revenue Forecast in 2026	USD 2.6 billion
CAGR	4.5%
Years considered for the study	2017–2026
Base year	2020
Forecast period	2021–2026
Units considered	Value (USD Million), Units
Segments	Type, Design, Material, Flow Type, Technology, Application, and Region
Regions	North America, Europe, Asia Pacific, South America and Middle East & Africa
Companies	EVAPCO (US), Baltimore Aircoil Company Inc. (US), SPX Corporation (US), Artech Cooling Towers Pvt. Ltd. (India), Babcock & Wilcox Enterprises (US), Brentwood Industries (US), Johnson Controls Inc. (Ireland), Paharpur Cooling Tower Ltd. (India), Enexio (Germany), and Hamon & CIE International (Belgium).

This research report categorizes the cooling tower market based on type, design, material, flow type, technology, application and region.

Based on Type:

Evaporative Cooling Tower
Dry Cooling Tower
Hybrid Cooling Tower

Based on Design

Mechanical Draft
Natural Draft

Based on Material:

Concrete
Steel
FRP
Wood

Based on Flow Type:

Crossflow
Counterflow

Based on Technology:

Open Circuit
Close Circuit
Hybrid Circuit

Based on Application:

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

Based on Region:

Asia Pacific
Europe
North America
South America
Middle East & Africa

Recent Developments

In July 2021, Baltimore Aircoil Company Inc. acquired Eurocoil Spa (Italy), a prominent European commercial and refrigeration manufacturer. This acquisition has further strengthened its position in the global cooling market.
In December 2020, Hamon acquired ESINDUS (Spain) engaged in the cooling business in the Iberian Peninsula, Mexico, and South America. Hamon & CIE aims to strengthen its geographic presence in Asia, EMEA, and North America through this acquisition.

Frequently Asked Questions (FAQ):

What are Types of Cooling Towers

Crossflow Cooling Tower
Counterflow Cooling Tower
Natural Draft Cooling Tower
Forced Draft Cooling Tower
Induced Draft Cooling Tower

What is a cooling tower used for?

Heating, ventilation, and air conditioning (HVAC) and industrial uses dominate the utilisation of cooling towers. Systems that require cooling can operate efficiently and affordably with the help of cooling towers.

What does a cooling tower do?

A cooling tower's purpose is to dissipate heat from a structure or facility by forcing water downward down the tower and transferring that heat to the interior of the structure. The falling water is cut through by air that enters the tower from the sides.

What are the factors influencing the growth of the cooling tower market?

The growth of this market can be attributed to rising demand in the developing countries undergoing industrialization and increasing use of HVACR systems.

Which are the key applications driving the cooling tower market?

The sectors driving the demand for cooling tower market are power generation, HVACR, food & beverage, chemical, petrochemical and oil & gas, among others.

Who are the major manufacturers?

Major manufacturers include EVAPCO (US), Baltimore Aircoil Company Inc. (US), SPX Corporation (US), Artech Cooling Towers Pvt. Ltd. (India), Babcock & Wilcox Enterprises (US), Brentwood Industries (US), Johnson Controls Inc. (Ireland), Paharpur Cooling Tower Ltd. (India), Enexio (Germany), and Hamon & CIE International (Belgium), among others.

What is the biggest restraint for cooling tower?

The biggest restraint can be sluggish growth in the European and North American market.

How is COVID-19 affecting the overall cooling tower market?

The cooling tower market saw a disruption in supply chain in its many industries.

What will be the growth prospects of the cooling tower market?

Growth in developing countries, increasing government regulations and rise in HVACR deployments are driving the market. .

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TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 30)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
           1.2.1 COOLING TOWER MARKET: INCLUSIONS & EXCLUSIONS
    1.3 MARKET SCOPE
    1.4 REGIONS COVERED
           1.4.1 YEARS CONSIDERED FOR THE STUDY
    1.5 CURRENCY
    1.6 UNIT CONSIDERED
    1.7 STAKEHOLDERS
    1.8 SUMMARY OF CHANGES

2 RESEARCH METHODOLOGY (Page No. - 35)
    2.1 RESEARCH DATA
          FIGURE 1 COOLING TOWER MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Primary interviews – demand and supply side
                    2.1.2.3 Key industry insights
                    2.1.2.4 Breakdown of primary interviews
    2.2 MARKET SIZE ESTIMATION
           2.2.1 BOTTOM-UP APPROACH
                    FIGURE 2 COOLING TOWER MARKET: BOTTOM-UP APPROACH
           2.2.2 TOP-DOWN APPROACH
                    FIGURE 3 COOLING TOWER MARKET: TOP-DOWN APPROACH
                    FIGURE 4 MARKET SIZE ESTIMATION: COOLING TOWER MARKET TOP-DOWN APPROACH
    2.3 FORECAST NUMBER CALCULATION
          FIGURE 5 DEMAND-SIDE FORECAST PROJECTIONS
    2.4 DATA TRIANGULATION
          FIGURE 6 COOLING TOWER MARKET: DATA TRIANGULATION
    2.5 FACTOR ANALYSIS
    2.6 ASSUMPTIONS
    2.7 LIMITATIONS & RISKS ASSOCIATED WITH COOLING TOWER MARKET

3 EXECUTIVE SUMMARY (Page No. - 43)
    FIGURE 7 EVAPORATIVE TYPE TO LEAD COOLING TOWER MARKET DURING FORECAST PERIOD
    FIGURE 8 MECHANICAL DRAFT COOLING TOWER DESIGN TO LEAD MARKET
    FIGURE 9 POWER GENERATION INDUSTRY TO DOMINATE COOLING TOWER MARKET BETWEEN 2021 AND 2026
    FIGURE 10 ASIA PACIFIC LED COOLING TOWER MARKET IN 2020

4 PREMIUM INSIGHTS (Page No. - 46)
    4.1 SIGNIFICANT OPPORTUNITIES IN COOLING TOWER MARKET
          FIGURE 11 HIGH GROWTH POTENTIAL IN ASIA PACIFIC REGION TO DRIVE MARKET
    4.2 ASIA PACIFIC: COOLING TOWER MARKET, BY APPLICATION AND COUNTRY, 2020
          FIGURE 12 POWER GENERATION APPLICATION DOMINATED MARKET IN ASIA PACIFIC
    4.3 COOLING TOWER MARKET, BY APPLICATION
          FIGURE 13 HVACR APPLICATION TO LEAD COOLING TOWER MARKET IN TERMS OF UNITS
    4.4 COOLING TOWER MARKET, BY COUNTRY
          FIGURE 14 INDIA TO BE FASTEST-GROWING COOLING TOWER MARKET DURING FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 48)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
          FIGURE 15 RISE IN DEMAND FOR COOLING TOWERS
           5.2.1 DRIVERS
                    5.2.1.1 Rising demand from emerging markets in Asia Pacific
                    5.2.1.2 Stringent environmental regulations driving demand for cooling towers
                    5.2.1.3 Rise in HVACR deployments and growth in industrial activities
                    5.2.1.4 Technological advancements in cooling tower market
           5.2.2 RESTRAINTS
                    5.2.2.1 Sluggish market growth in Europe and North America
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Rising demand from nuclear power generation sector
                                TABLE 1 NUCLEAR ENERGY CONSUMPTION, BY REGION, 2016–2020 (EXAJOULES)
           5.2.4 CHALLENGES
                    5.2.4.1 Requirement of large quantities of water
                    5.2.4.2 Frequent corrosion in system results in reduced efficiency
    5.3 PORTER’S FIVE FORCES ANALYSIS
          FIGURE 16 PORTER’S FIVE FORCES ANALYSIS
           5.3.1 BARGAINING POWER OF SUPPLIERS
           5.3.2 BARGAINING POWER OF BUYERS
           5.3.3 THREAT OF SUBSTITUTES
           5.3.4 THREAT OF NEW ENTRANTS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
                    TABLE 2 COOLING TOWER MARKET: PORTER'S FIVE FORCES ANALYSIS
    5.4 VALUE CHAIN ANALYSIS
           5.4.1 RAW MATERIAL SUPPLIERS
           5.4.2 COMPONENT MANUFACTURERS
           5.4.3 MANUFACTURERS
           5.4.4 END CONSUMERS
                    FIGURE 17 COOLING TOWER MARKET: VALUE CHAIN
    5.5 RAW MATERIAL ANALYSIS
           5.5.1 CONCRETE
           5.5.2 STEEL
           5.5.3 FIBER REINFORCED PLASTIC (FRP)
           5.5.4 POLYVINYL CHLORIDE (PVC)
    5.6 TRADE ANALYSIS
           5.6.1 STEEL
                    TABLE 3 IMPORT TRADE DATA FOR STEEL FOR TOP TEN COUNTRIES, 2016–2020 (USD THOUSAND)
                    TABLE 4 EXPORT TRADE DATA FOR STEEL FOR TOP TEN COUNTRIES, 2016–2020 (USD THOUSAND)
           5.6.2 POLYVINYL CHLORIDE (PVC)
                    TABLE 5 IMPORT TRADE DATA FOR PVC FOR TOP TEN COUNTRIES, 2016–2020 (USD THOUSAND)
                    TABLE 6 EXPORT TRADE DATA FOR PVC FOR TOP TEN COUNTRIES, 2016–2020 (USD THOUSAND)
    5.7 ECOSYSTEM MAPPING
          FIGURE 18 ECOSYSTEM
          TABLE 7 PLA: ECOSYSTEM
    5.8 MACROECONOMIC ANALYSIS
          TABLE 8 PROJECTED REAL GDP GROWTH (ANNUAL PERCENT CHANGE) OF KEY COUNTRIES, 2018–2025
    5.9 COVID-19 IMPACT ANALYSIS
           5.9.1 COVID-19 ECONOMIC ASSESSMENT
           5.9.2 EFFECTS ON GDPS OF COUNTRIES
           5.9.3 CONFIRMED CASES AND DEATHS, BY GEOGRAPHY
                    FIGURE 19 IMPACT OF COVID-19, BASED ON COUNTRY
           5.9.4 IMPACT ON END-USE INDUSTRIES
    5.10 CASE STUDY ANALYSIS
           5.10.1 SPX COOLING TECHNOLOGIES
           5.10.2 HAMON CORPORATION
    5.11 TECHNOLOGY ANALYSIS
           5.11.1 MODULAR COOLING TOWER
           5.11.2 HDPE COOLING TECHNOLOGY
    5.12 TARIFFS & REGULATIONS
           5.12.1 ASIA PACIFIC
           5.12.2 EUROPE
           5.12.3 NORTH AMERICA
                    5.12.3.1 US
                    5.12.3.2 Canada
    5.13 OPERATIONAL DATA
           TABLE 9 ELECTRICITY PRODUCTION, BY COUNTRY, 2016–2020 (TERAWATT-HOURS)
    5.14 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESSES
           FIGURE 20 TRENDS IN COOLING TOWER MARKET
    5.15 PRICING TREND ANALYSIS
           5.15.1 AVERAGE SELLING PRICES OF KEY PLAYERS, BY APPLICATION
                     FIGURE 21 AVERAGE SELLING PRICES OF KEY PLAYERS FOR COOLING TOWER APPLICATIONS
                     TABLE 10 AVERAGE SELLING PRICES OF KEY PLAYERS FOR COOLING TOWER APPLICATIONS (USD/UNIT)
    5.16 KEY CONFERENCES & EVENTS IN 2022–2023
           TABLE 11 COOLING TOWER MARKET: DETAILED LIST OF CONFERENCES & EVENTS
    5.17 PATENT ANALYSIS
           5.17.1 METHODOLOGY
           5.17.2 DOCUMENT TYPE
                     TABLE 12 TOTAL NUMBER OF PATENTS
                     FIGURE 22 TOTAL NUMBER OF PATENTS
           5.17.3 PUBLICATION TRENDS, 2011-2021
                     FIGURE 23 NUMBER OF PATENTS YEAR-WISE FROM 2011 TO 2021
           5.17.4 INSIGHTS
           5.17.5 LEGAL STATUS OF PATENTS
                     FIGURE 24 PATENT ANALYSIS, BY LEGAL STATUS
           5.17.6 JURISDICTION ANALYSIS
                     FIGURE 25 TOP JURISDICTION – BY DOCUMENT
           5.17.7 TOP COMPANIES/APPLICANTS
                     FIGURE 26 TOP TEN COMPANIES/APPLICANTS WITH HIGHEST NUMBER OF PATENTS
                    5.17.7.1 Patents by Agency Science Tech & Res
                                  TABLE 13 PATENTS BY AGENCY SCIENCE TECH. & RES.
                    5.17.7.2 Patents by Jiangsu Seagull Cooling Tower Co. Ltd.
                                  TABLE 14 PATENTS BY JIANGSU SEAGULL COOLING TOWER CO. LTD.
                    5.17.7.3 Patents by EVAPCO Inc.
                                  TABLE 15 PATENTS BY EVAPCO INC.
           5.17.8 TOP TEN PATENT OWNERS (US) DURING LAST TEN YEARS
                                  TABLE 16 TOP TEN PATENT OWNERS

6 COOLING TOWER MARKET, BY FLOW TYPE (Page No. - 73)
    6.1 INTRODUCTION
    6.2 COUNTERFLOW
           6.2.1 VERTICAL DESIGN OF TOWER REQUIRES LESS AREA IN LOW TONNAGE SYSTEMS
    6.3 CROSSFLOW
           6.3.1 CROSSFLOW COOLING TOWER CAN BE CLEANED EASILY

7 COOLING TOWER MARKET, BY TECHNOLOGY (Page No. - 74)
    7.1 INTRODUCTION
    7.2 OPEN CIRCUIT
           7.2.1 OPEN CIRCUIT INTERFACE USES CONVECTION AS WELL AS EVAPORATION FOR COOLING
    7.3 CLOSE CIRCUIT
           7.3.1 HIGHER UTILIZATION OF CLOSE CIRCUIT COOLING TOWERS IN FOOD & BEVERAGE INDUSTRY
    7.4 HYBRID CIRCUIT
           7.4.1 LOW RISK OF LEGIONELLA OUTBREAK

8 COOLING TOWER MARKET, BY CONSTRUCTION MATERIAL (Page No. - 76)
    8.1 INTRODUCTION
    8.2 CONCRETE
    8.3 FIBER-REINFORCED PLASTIC (FRP)
    8.4 WOOD
    8.5 STEEL

9 COOLING TOWER MARKET, BY DESIGN (Page No. - 78)
    9.1 INTRODUCTION
          FIGURE 27 MECHANICAL DRAFT COOLING TOWER TO DRIVE MARKET BETWEEN 2021 AND 2026
          TABLE 17 COOLING TOWER MARKET SIZE, BY DESIGN, 2017–2020 (USD MILLION)
          TABLE 18 COOLING TOWER MARKET SIZE, BY DESIGN, 2021–2026 (USD MILLION)
    9.2 MECHANICAL DRAFT COOLING TOWER
           9.2.1 HIGHER EFFICIENCY AND LOW CONSTRUCTION COST TO DRIVE DEMAND
    9.3 NATURAL DRAFT COOLING TOWER
           9.3.1 POWER SAVING PROPERTIES AND LOW MAINTEINANCE COST CONTRIBUTE SIGNIFICANTLY TO MARKET GROWTH

10 COOLING TOWER MARKET, BY TYPE (Page No. - 81)
     10.1 INTRODUCTION
             FIGURE 28 COOLING TOWER MARKET: EVAPORATIVE COOLING TOWER ACCOUNTED FOR LARGEST SHARE IN 2020
             TABLE 19 COOLING TOWER MARKET SIZE, BY TYPE, 2017–2020 (USD MILLION)
             TABLE 20 COOLING TOWER MARKET SIZE, BY TYPE, 2021–2026 (USD MILLION)
     10.2 EVAPORATIVE COOLING TOWER
             10.2.1 INCREASING DEMAND IN HVAC APPLICATIONS DRIVING MARKET
     10.3 DRY COOLING TOWER
             10.3.1 REQUIREMENT OF COOLING TOWERS FROM WATER-STRESSED COUNTRIES TO BOOST GLOBAL DEMAND
     10.4 HYBRID COOLING TOWER
             10.4.1 INCREASED DEMAND FOR HYBRID COOLING TOWER IN POWER GENERATION APPLICATION TO DRIVE MARKET GROWTH

11 COOLING TOWER MARKET, BY APPLICATION (Page No. - 85)
     11.1 INTRODUCTION
             FIGURE 29 POWER GENERATION APPLICATION TO LEAD COOLING TOWER MARKET DURING FORECAST PERIOD
             TABLE 21 COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
             TABLE 22 COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
             TABLE 23 COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 24 COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
     11.2 POWER GENERATION
             11.2.1 THERMAL POWER PLANTS
             11.2.2 NUCLEAR POWER PLANTS
     11.3 HVACR
             11.3.1 DISTRICT COOLING
             11.3.2 DATA CENTERS
     11.4 FOOD & BEVERAGE
             11.4.1 DAIRY
             11.4.2 DISTILLERIES/ BREWERIES
     11.5 CHEMICAL
             11.5.1 FERTILIZER MANUFACTURING
             11.5.2 PHARMACEUTICAL INDUSTRY
     11.6 PETROCHEMICAL AND OIL & GAS
     11.7 OTHERS
             11.7.1 PAPER & PULP INDUSTRY
             11.7.2 MARINE
             11.7.3 IRON FOUNDRIES

12 COOLING TOWER MARKET, BY REGION (Page No. - 92)
     12.1 INTRODUCTION
            FIGURE 30 ASIA PACIFIC TO BE FASTEST-GROWING MARKET DURING FORECAST PERIOD
             TABLE 25 COOLING TOWER MARKET SIZE, BY REGION, 2017–2020 (UNITS)
             TABLE 26 COOLING TOWER MARKET SIZE, BY REGION, 2021–2026 (UNITS)
             TABLE 27 COOLING TOWER MARKET SIZE, BY REGION, 2017–2020 (USD MILLION)
             TABLE 28 COOLING TOWER MARKET SIZE, BY REGION, 2021–2026 (USD MILLION)
     12.2 ASIA PACIFIC
             FIGURE 31 ASIA PACIFIC: COOLING TOWER MARKET SNAPSHOT
             TABLE 29 ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY COUNTRY, 2017–2020 (UNITS)
             TABLE 30 ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 31 ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 32 ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             TABLE 33 ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
             TABLE 34 ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
             TABLE 35 ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 36 ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.2.1 CHINA
                        12.2.1.1 Shift in power generation source to drive market
                                      TABLE 37 CHINA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 38 CHINA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 39 CHINA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 40 CHINA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.2.2 INDIA
                        12.2.2.1 Foreign investments are likely to impact market growth
                                      TABLE 41 INDIA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 42 INDIA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 43 INDIA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 44 INDIA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.2.3 JAPAN
                        12.2.3.1 Organizations promoting cooling towers to drive market
                                      TABLE 45 JAPAN: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 46 JAPAN: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 47 JAPAN: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 48 JAPAN: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.2.4 SOUTH KOREA
                        12.2.4.1 Investment in energy sources to drive market growth
                                      TABLE 49 SOUTH KOREA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 50 SOUTH KOREA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 51 SOUTH KOREA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 52 SOUTH KOREA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.2.5 REST OF ASIA PACIFIC
                        TABLE 53 REST OF ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                        TABLE 54 REST OF ASIA PACIFIC: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                        TABLE 55 REST OF ASIA PACIFIC: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 56 REST OF ASIA PACIFIC: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
     12.3 EUROPE
             FIGURE 32 EUROPE: COOLING TOWER MARKET SNAPSHOT
             TABLE 57 EUROPE: MARKET SIZE, BY COUNTRY, 2017–2020 (UNITS)
             TABLE 58 EUROPE: MARKET SIZE, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 59 EUROPE: MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 60 EUROPE: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             TABLE 61 EUROPE: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
             TABLE 62 EUROPE: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
             TABLE 63 EUROPE: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 64 EUROPE: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.3.1 GERMANY
                        12.3.1.1 Large chemical and petrochemical industry to drive cooling tower market in country
                                      TABLE 65 GERMANY: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 66 GERMANY: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 67 GERMANY: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 68 GERMANY: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.3.2 ITALY
                        12.3.2.1 Increasing energy requirements and growth in chemical industries to drive demand
                                      TABLE 69 ITALY: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 70 ITALY: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 71 ITALY: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 72 ITALY: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.3.3 FRANCE
                        12.3.3.1 Expansion in food & beverage industry and shift towards renewable energy production is propelling cooling tower market
                                      TABLE 73 FRANCE: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 74 FRANCE: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 75 FRANCE: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 76 FRANCE: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.3.4 SPAIN
                        12.3.4.1 Use of cooling towers in oil refineries to drive demand
                                      TABLE 77 SPAIN: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 78 SPAIN: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 79 SPAIN: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 80 SPAIN: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.3.5 UK
                        12.3.5.1 Shift towards renewable power generation to create new demands
                                      TABLE 81 UK: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 82 UK: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 83 UK: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 84 UK: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.3.6 RUSSIA
                        12.3.6.1 Expansion of oil refineries to meet market demand
                                      TABLE 85 RUSSIA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 86 RUSSIA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 87 RUSSIA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 88 RUSSIA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.3.7 REST OF EUROPE
                        TABLE 89 REST OF EUROPE: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                        TABLE 90 REST OF EUROPE: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                        TABLE 91 REST OF EUROPE: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 92 REST OF EUROPE: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
     12.4 NORTH AMERICA
             FIGURE 33 NORTH AMERICA: COOLING TOWER MARKET SNAPSHOT
             TABLE 93 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2017–2020 (UNITS)
             TABLE 94 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 95 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 96 NORTH AMERICA: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             TABLE 97 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
             TABLE 98 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
             TABLE 99 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 100 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.4.1 US
                        12.4.1.1 Presence of large number of power plants and oil refineries is propelling market
                                      TABLE 101 US: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 102 US: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 103 US: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 104 US: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.4.2 CANADA
                        12.4.2.1 Demand for cooling towers in petrochemical and oil & gas industry to contribute to market growth
                                      TABLE 105 CANADA: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 106 CANADA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 107 CANADA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 108 CANADA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.4.3 MEXICO
                        12.4.3.1 Growing oil & gas industry in country to drive market
                                      TABLE 109 MEXICO: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 110 MEXICO: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 111 MEXICO: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 112 MEXICO: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
     12.5 MIDDLE EAST & AFRICA
             TABLE 113 MIDDLE EAST & AFRICA: MARKET SIZE, BY COUNTRY, 2017–2020 (UNITS)
             TABLE 114 MIDDLE EAST & AFRICA: MARKET SIZE, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 115 MIDDLE EAST & AFRICA: MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 116 MIDDLE EAST & AFRICA: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             TABLE 117 MIDDLE EAST & AFRICA: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
             TABLE 118 MIDDLE EAST & AFRICA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
             TABLE 119 MIDDLE EAST & AFRICA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 120 MIDDLE EAST & AFRICA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.5.1 SAUDI ARABIA
                        12.5.1.1 Significant expansion in petrochemical and oil & gas industry to influence market for cooling tower
                                      TABLE 121 SAUDI ARABIA: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 122 SAUDI ARABIA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 123 SAUDI ARABIA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 124 SAUDI ARABIA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.5.2 UAE
                        12.5.2.1 Increasing natural gas production to drive market
                                      TABLE 125 UAE: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 126 UAE: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 127 UAE: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 128 UAE: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.5.3 SOUTH AFRICA
                        12.5.3.1 Notable increase in energy demand to create market opportunities
                                      TABLE 129 SOUTH AFRICA: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 130 SOUTH AFRICA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 131 SOUTH AFRICA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 132 SOUTH AFRICA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.5.4 REST OF MIDDLE EAST & AFRICA
                        TABLE 133 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                        TABLE 134 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                        TABLE 135 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 136 REST OF MIDDLE EAST & AFRICA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
     12.6 SOUTH AMERICA
             TABLE 137 SOUTH AMERICA: MARKET SIZE, BY COUNTRY, 2017–2020 (UNITS)
             TABLE 138 SOUTH AMERICA: MARKET SIZE, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 139 SOUTH AMERICA: MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 140 SOUTH AMERICA: MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             TABLE 141 SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
             TABLE 142 SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
             TABLE 143 SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 144 SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.6.1 BRAZIL
                        12.6.1.1 Rapid growth in electricity generation and oil & gas production is propelling market
                                      TABLE 145 BRAZIL: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 146 BRAZIL: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 147 BRAZIL: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 148 BRAZIL: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.6.2 ARGENTINA
                        12.6.2.1 Increasing electricity demand in country to boost market
                                      TABLE 149 ARGENTINA: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 150 ARGENTINA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 151 ARGENTINA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 152 ARGENTINA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.6.3 REST OF SOUTH AMERICA
                        TABLE 153 REST OF SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                        TABLE 154 REST OF SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                        TABLE 155 REST OF SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 156 REST OF SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)

13 COMPETITIVE LANDSCAPE (Page No. - 151)
     13.1 OVERVIEW
             FIGURE 34 COMPANIES ADOPTED INVESTMENTS & EXPANSIONS AND JOINT VENTURES AS KEY GROWTH STRATEGIES BETWEEN 2017 AND 2021
     13.2 RANKING ANALYSIS OF KEY MARKET PLAYERS, 2020
             FIGURE 35 RANKING OF TOP FIVE PLAYERS IN COOLING TOWER MARKET, 2020
     13.3 MARKET SHARE ANALYSIS
             FIGURE 36 MARKET SHARE, BY COMPANY (2020)
             TABLE 157 MARKET: DEGREE OF COMPETITION
     13.4 MARKET EVALUATION MATRIX
             TABLE 158 MARKET EVALUATION MATRIX
     13.5 COMPANY EVALUATION MATRIX, 2021 (TIER 1)
             13.5.1 STARS
             13.5.2 EMERGING LEADERS
                        FIGURE 37 COOLING TOWER MARKET: COMPANY EVALUATION MATRIX, 2020
                        TABLE 159 COMPANY INDUSTRY FOOTPRINT
                        TABLE 160 COMPANY REGION FOOTPRINT
     13.6 STRENGTH OF STRATEGY EXCELLENCE
             FIGURE 38 PRODUCT PORTFOLIO ANALYSIS OF TOP PLAYERS IN COOLING TOWER MARKET
     13.7 BUSINESS PRODUCT FOOTPRINT
             FIGURE 39 BUSINESS STRATEGY EXCELLENCE OF TOP PLAYERS IN COOLING TOWER MARKET
     13.8 STARTUPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX
             13.8.1 RESPONSIVE COMPANIES
             13.8.2 STARTING BLOCKS
                        FIGURE 40 COOLING TOWER MARKET: STARTUP AND SME MATRIX, 2020
     13.9 COMPETITIVE SCENARIO
             13.9.1 NEW PRODUCT LAUNCHES
                        TABLE 161 NEW PRODUCT LAUNCHES, 2017–2021
             13.9.2 DEALS
                        TABLE 162 COOLING TOWER: DEALS, 2017–2022
             13.9.3 OTHER DEVELOPMENTS
                        TABLE 163 OTHER DEVELOPMENTS, 2017–2021

14 COMPANY PROFILES (Page No. - 164)
     14.1 MAJOR PLAYERS
(Business Overview, Products/solutions/services offered, Recent Developments, Deals, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats)*
             14.1.1 BALTIMORE AIRCOIL COMPANY INC.
                        TABLE 164 BALTIMORE AIRCOIL COMPANY INC.: COMPANY OVERVIEW
                        TABLE 165 BALTIMORE AIRCOIL COMPANY INC.: PRODUCT OFFERINGS
                        TABLE 166 BALTIMORE AIRCOIL COMPANY INC.: NEW PRODUCT LAUNCHES
                        TABLE 167 BALTIMORE AIRCOIL COMPANY INC.: DEALS
             14.1.2 HAMON & CIE
                        TABLE 168 HAMON & CIE: COMPANY OVERVIEW
                        FIGURE 41 HAMON & CIE: COMPANY SNAPSHOT
                        TABLE 169 HAMON & CIE: PRODUCT OFFERINGS
                        TABLE 170 HAMON & CIE: DEALS
             14.1.3 SPX CORPORATION
                        TABLE 171 SPX CORPORATION: COMPANY OVERVIEW
                        FIGURE 42 SPX CORPORATION: COMPANY SNAPSHOT
                        TABLE 172 SPX CORPORATION: PRODUCT OFFERINGS
                        TABLE 173 SPX CORPORATION: DEALS
             14.1.4 JOHNSON CONTROLS
                        TABLE 174 JOHNSON CONTROLS: COMPANY OVERVIEW
                        TABLE 175 JOHNSON CONTROLS: PRODUCT OFFERINGS
                        TABLE 176 JOHNSON CONTROLS: DEALS
             14.1.5 EVAPCO, INC.
                        TABLE 177 EVAPCO, INC.: COMPANY OVERVIEW
                        TABLE 178 EVAPCO, INC.: PRODUCT OFFERINGS
                        TABLE 179 EVAPCO, INC.: NEW PRODUCT LAUNCHES
                        TABLE 180 EVAPCO, INC.: OTHER DEVELOPMENTS
             14.1.6 ARTECH COOLING TOWERS PVT. LTD.
                        TABLE 181 ARTECH COOLING TOWERS PVT. LTD.: COMPANY OVERVIEW
                        TABLE 182 ARTECH COOLING TOWERS PVT. LTD.: PRODUCT OFFERINGS
             14.1.7 BABCOCK & WILCOX ENTERPRISES INC.
                        TABLE 183 BABCOCK & WILCOX ENTERPRISES INC.: COMPANY OVERVIEW
                        TABLE 184 BABCOCK & WILCOX ENTERPRISES INC.: PRODUCT OFFERINGS
             14.1.8 BRENTWOOD INDUSTRIES, INC.
                        TABLE 185 BRENTWOOD INDUSTRIES, INC.: COMPANY OVERVIEW
                        TABLE 186 BRENTWOOD INDUSTRIES, INC.: PRODUCT OFFERINGS
                        TABLE 187 BRENTWOOD INDUSTRIES, INC.: DEALS
             14.1.9 ENEXIO
                        TABLE 188 ENEXIO: COMPANY OVERVIEW
                        TABLE 189 ENEXIO: PRODUCT OFFERINGS
                        TABLE 190 ENEXIO: DEALS
             14.1.10 PAHARPUR COOLING TOWER LIMITED
                        TABLE 191 PAHARPUR COOLING TOWER LIMITED: COMPANY OVERVIEW
                        TABLE 192 PAHARPUR COOLING TOWER LIMITED: PRODUCT OFFERINGS
     14.2 OTHER KEY COMPANIES
             14.2.1 AMCOT COOLING TOWER CORPORATION
             14.2.2 BELL COOLING TOWER
             14.2.3 BOLDROCCHI T.E. SRL
             14.2.4 DONGHAE
             14.2.5 HACST (HENG AN)
             14.2.6 MARLEY FLOW CONTROL PTY LTD
             14.2.7 MITA COOLING TECHNOLOGIES SRL.
             14.2.8 NIHON SPINDLE MANUFACTURING CO. LTD.
             14.2.9 PERFECT COOLING TOWERS PVT. LTD.
             14.2.10 STAR COOLING TOWERS PVT. LTD.
             14.2.11 THERMAL CARE, INC.
             14.2.12 THERMAX LIMITED
             14.2.13 TOWER THERMAL PTY. LTD.
             14.2.14 UNITED METAL PRODUCTS
             14.2.15 ZHEJIANG AOSHUAI REFRIGERATION CO., LTD

*Details on Business Overview, Products Offered, Recent Developments, Deals, MnM view, Key strengths/right to win, Strategic choices made, Weakness/competitive threats might not be captured in case of unlisted companies.

15 APPENDIX (Page No. - 194)
     15.1 INSIGHTS FROM INDUSTRY EXPERTS
     15.2 DISCUSSION GUIDE
     15.3 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
     15.4 AVAILABLE CUSTOMIZATIONS
     15.5 RELATED REPORTS
     15.6 AUTHOR DETAILS

Overview on Cooling System Market

Cooling systems are used in various industries to maintain the temperature of machinery, equipment, and buildings. The cooling system market includes various types of cooling systems, such as air conditioning, refrigeration, and cooling towers, among others. The market is driven by factors such as increasing demand for air conditioning in residential and commercial buildings, the growth of the automotive industry, and rising demand for data centers and server rooms.

Cooling towers are a type of cooling system that is used in industrial applications to cool water or other fluids. Cooling towers work by removing heat from water through the evaporation process. The cooling system market includes various types of cooling systems, of which cooling towers are a significant segment.

The growth of the cooling system market is expected to have a positive impact on the cooling tower market. The demand for cooling towers is expected to increase in industries such as power generation, chemical processing, and oil and gas, among others. The growth of the cooling system market is expected to drive the demand for cooling towers, as they are an essential component of cooling systems used in various industrial applications.

Which are some futuristic growth use-cases of Cooling System Market?

The cooling system market is expected to witness growth in various use cases in the future. One of the significant growth areas is the data center industry, where the demand for cooling systems is expected to increase due to the growing number of data centers globally. Another growth area is the electric vehicle industry, where cooling systems are used to regulate the temperature of batteries and other components.

Who are the top players in Cooling System Market?

The top players in the cooling system market include Johnson Controls, Mitsubishi Electric, Daikin Industries, LG Electronics, and Carrier Global Corporation, among others.

Which are other industries going to get impacted in the future because of Cooling System Market?

The growth of the cooling system market is expected to impact various other industries in the future. The HVAC (heating, ventilation, and air conditioning) industry is expected to benefit from the growth of the cooling system market, as both are closely related. The automotive industry is another industry that is expected to be impacted, as cooling systems are essential components of vehicles. Additionally, the growth of the data center industry and the electric vehicle industry are expected to have a significant impact on the cooling system market.

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The study involved four major activities in estimating the current size of the cooling tower market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, the market breakdown and data triangulation methods were used to estimate the size of the segments and subsegments of the overall market.

Secondary Research

This research report involves extensive secondary sources, directories, and databases, such as Bloomberg, BusinessWeek, Factiva, ICIS, and OneSource, to identify and collect information useful for the technical, market-oriented, and commercial study of the cooling tower market. The secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications.

Primary Research

The cooling tower market comprises several stakeholders, such as raw material suppliers, component manufacturers, end-product manufacturers, buyers, and regulatory organizations. The demand side of this market is characterized by developing applications, such as power generation, HVACR, food & beverage, chemical, petrochemical and oil & gas and others. The supply side included industry experts, such as CEOs, vice presidents, marketing directors, technology and innovation directors, and related key executives from various companies and organizations operating in the market. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary respondents:

Cooling Tower Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The top-down approach was used to estimate and validate the size of the various submarkets for cooling towers for each region. The research methodology used to estimate the market size included the following steps:

Global cooling tower market was identified, and the share of cooling tower was determined through primary and secondary research.
The global market was then segmented into five major regions and validated through industry experts.
All percentage shares, splits, and breakdowns based on type, design, application, and country were determined using secondary sources and verified through primary sources.
All possible parameters that affect the markets covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. This data was consolidated and added with detailed inputs and analysis and presented in this report.

Data Triangulation

After arriving at the overall market size—using the estimation processes explained above—the cooling tower market was split into several segments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact statistics of each market segment. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Report Objectives

To define, describe, and forecast the size of the cooling tower market in terms of value and volume
To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing market growth
To estimate and forecast the market size based on type, design, application, and region
To forecast the size of the market in the major regions, namely, Europe, North America, Asia Pacific (APAC), Middle East & Africa, and South America along with their key countries
To strategically analyze micromarkets1 with respect to individual growth trends, prospects, and their contribution to the overall market
To analyze opportunities in the market for stakeholders and provide a competitive landscape of market leaders
To identify the impact of the COVID-19 pandemic on the market
To track and analyze recent developments such as expansions, new product launches, partnerships & agreements, and acquisitions in the market

Available Customizations

MarketsandMarkets offers customizations according to the specific needs of the companies with the given market data.

The following customization options are available for the cooling tower market report:

Product Analysis

Product matrix, which provides a detailed comparison of the product portfolio of each company

Regional Analysis

A further breakdown of the cooling tower market, by segments

Evaporative Cooling Market Overview

Evaporative cooling is a technology used for cooling indoor and outdoor spaces, primarily in areas with hot and dry climates. It works by using the natural process of water evaporation to reduce the temperature of the air. The evaporative cooling market has been growing steadily in recent years, driven by several factors such as increasing demand for energy-efficient cooling solutions, growing awareness of environmental concerns, and the need to reduce electricity bills.

The market for evaporative cooling is segmented into residential, commercial, and industrial applications. In the residential sector, evaporative coolers are used in homes, apartments, and small offices. In the commercial sector, they are used in large office buildings, hotels, hospitals, and shopping malls. In the industrial sector, they are used in factories, warehouses, and data centers.

North America, Europe, Asia Pacific, and the Middle East and Africa are the key regions where the evaporative cooling market is growing. Asia Pacific is the largest market for evaporative cooling, driven by the high demand for cooling solutions in countries such as India and China. The Middle East and Africa region is also a major market for evaporative cooling, given the extremely hot and dry climate in the region.

The evaporative cooling market is closely connected to the cooling tower market, as cooling towers are one of the primary types of equipment used for evaporative cooling. Cooling towers are large structures that are used to remove heat from a building or industrial process by evaporating water. They work by drawing hot water from the building or process through the tower, where it is then sprayed onto the top of the tower and allowed to evaporate. The resulting evaporation cools the water, which is then recirculated back to the building or process.

Evaporative coolers, on the other hand, are typically smaller and more portable than cooling towers, and are commonly used for residential and smaller commercial applications. They work by drawing in hot, dry air from outside and passing it over a wet cooling pad, which causes the water to evaporate and cool the air before it is blown back into the building.

While cooling towers and evaporative coolers are used for different applications, they both rely on the principle of evaporative cooling to provide efficient and cost-effective cooling solutions. As a result, the growth of the evaporative cooling market is closely linked to the demand for cooling towers, as well as other types of cooling equipment such as air conditioners and heat exchangers.

The growth of the evaporative cooling market is expected to have a significant impact on the cooling tower market. Evaporative coolers are becoming increasingly popular for smaller commercial and residential applications due to their lower cost, energy efficiency, and eco-friendliness. As a result, demand for evaporative coolers is expected to increase in the coming years, which may lead to a shift in the market share of cooling tower manufacturers towards evaporative coolers.

However, it's important to note that cooling towers are still the preferred cooling solution for many industrial and commercial applications, particularly those that require larger cooling capacities. Cooling towers are generally more efficient at removing large amounts of heat, and can be customized to meet the specific requirements of a particular application. In addition, many industrial and commercial facilities may already have cooling towers installed, and it may be more cost-effective to upgrade or maintain those systems rather than switch to a different cooling technology.

It's likely that the growth of the evaporative cooling market will lead to increased competition for cooling tower manufacturers, particularly in the smaller commercial and residential markets. However, cooling towers are still expected to remain a major part of the cooling equipment market for larger industrial and commercial applications.

Evaporative Cooling Market Trends

The evaporative cooling market has several futuristic growth use-cases, driven by the need for energy-efficient and sustainable cooling solutions. Here are a few examples:

1. Data centers: As the demand for cloud computing and data storage continues to grow, so does the demand for cooling solutions in data centers. Evaporative cooling can provide an energy-efficient solution for data center cooling, particularly in areas with dry climates. By using outside air for cooling, evaporative cooling can reduce the amount of energy required to maintain the desired temperature in the data center.

2. Agriculture: Evaporative cooling can be used to create a more favorable environment for agriculture in hot and dry climates. By reducing the temperature and increasing the humidity of the air, evaporative cooling can help to prevent crop damage and increase crop yield.

3. Transportation: Evaporative cooling can be used to cool buses and trains, particularly in areas with hot climates. This can provide a more comfortable and energy-efficient solution for public transportation, reducing the need for traditional air conditioning systems.

4. Residential and commercial buildings: Evaporative cooling can be used in residential and commercial buildings as an energy-efficient and cost-effective alternative to traditional air conditioning systems. By using outside air for cooling, evaporative cooling can reduce energy consumption and costs, while also providing a more sustainable solution for building cooling.

5. Outdoor events and venues: Evaporative cooling can be used to create more comfortable outdoor environments for events and venues, particularly in hot and dry climates. By providing a cool and humid environment, evaporative cooling can help to prevent heat stroke and other heat-related illnesses, while also providing a more enjoyable experience for attendees.

Top Companies in Evaporative Cooling Market

There are several companies that are prominent players in the evaporative cooling market. Here are some of the top companies:

1. Breezair: Breezair is a leading manufacturer of evaporative air conditioning systems for residential and commercial use. The company is based in Australia and is a part of the Seeley International Group.

2. Delta Cooling Towers: Delta Cooling Towers is a U.S.-based company that designs and manufactures cooling towers for a variety of industrial applications. The company also offers evaporative fluid coolers and other related products.

3. SPX Cooling Technologies: SPX Cooling Technologies is a global company that designs and manufactures cooling towers, evaporative condensers, and other related products for the HVAC, power generation, and industrial markets.

4. Munters: Munters is a global company that provides a range of energy-efficient air treatment solutions, including evaporative cooling systems for various industrial and commercial applications.

5. Seeley International: Seeley International is an Australian-based manufacturer of heating and cooling systems, including evaporative cooling systems under the Breezair and Coolair brands.

6. Fujian Jinghui Environmental Technology Co. Ltd.: Fujian Jinghui Environmental Technology Co. Ltd. is a China-based company that specializes in the design and manufacture of evaporative air coolers for various commercial and industrial applications.

7. Colt Group: Colt Group is a U.K.-based company that provides a range of building services, including evaporative cooling systems for commercial and industrial applications.

Evaporative Cooling Market Impact on Different Industries

The evaporative cooling market has the potential to impact several other industries beyond HVAC and cooling equipment manufacturing. Here are a few examples of industries that could be impacted by the growth of the evaporative cooling market:

1. Renewable Energy: The use of evaporative cooling technology can reduce energy consumption in buildings, making them more sustainable and energy-efficient. This is likely to drive demand for renewable energy sources, such as solar and wind power, as a way to power evaporative cooling systems.

2. Agriculture: Evaporative cooling can provide an energy-efficient solution for cooling greenhouses and other agricultural facilities, reducing energy consumption and costs. This could lead to increased adoption of greenhouse farming and other sustainable agriculture practices.

3. Water Treatment: The use of evaporative cooling can lead to increased demand for water treatment and filtration systems, as the quality of the water used in these systems can impact the effectiveness of the cooling process.

4. Food and Beverage: Evaporative cooling can be used in the food and beverage industry for the preservation and storage of food products. This could lead to increased demand for cold storage and refrigeration systems that utilize evaporative cooling technology.

5. Construction: The use of evaporative cooling technology in building HVAC systems can reduce the need for traditional air conditioning systems, leading to decreased construction costs and more sustainable buildings.

The growth of the evaporative cooling market is likely to have a ripple effect on several other industries, driving demand for new products and services and changing the way businesses operate.

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