Cooling Tower Market

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

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

[201 Pages Report] The global cooling tower market size is estimated to be 2.1 billion in 2021 and projected to be USD 2.6 billion by 2026, at a CAGR of 4.5%. Increasing demand from emerging markets, stringent environmental regulations, rise in HVACR deployments, and technological advancements are boosting the demand for 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

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).

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Scope of the Report

Report Metric

Details

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):

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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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 39 CHINA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 40 CHINA: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 43 INDIA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 44 INDIA: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 46 JAPAN: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 47 JAPAN: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 48 JAPAN: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 51 SOUTH KOREA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 52 SOUTH KOREA: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                        TABLE 55 REST OF ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 56 REST OF ASIA PACIFIC: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
     12.3 EUROPE
             FIGURE 32 EUROPE: COOLING TOWER MARKET SNAPSHOT
             TABLE 57 EUROPE: COOLING TOWER MARKET SIZE, BY COUNTRY, 2017–2020 (UNITS)
             TABLE 58 EUROPE: COOLING TOWER MARKET SIZE, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 59 EUROPE: COOLING TOWER MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 60 EUROPE: COOLING TOWER MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             TABLE 61 EUROPE: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
             TABLE 62 EUROPE: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
             TABLE 63 EUROPE: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 64 EUROPE: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 66 GERMANY: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 67 GERMANY: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 70 ITALY: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 71 ITALY: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 72 ITALY: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 74 FRANCE: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 75 FRANCE: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 76 FRANCE: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 78 SPAIN: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 79 SPAIN: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 80 SPAIN: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 82 UK: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 83 UK: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 84 UK: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 87 RUSSIA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 88 RUSSIA: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                        TABLE 91 REST OF EUROPE: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 92 REST OF EUROPE: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
     12.4 NORTH AMERICA
             FIGURE 33 NORTH AMERICA: COOLING TOWER MARKET SNAPSHOT
             TABLE 93 NORTH AMERICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2017–2020 (UNITS)
             TABLE 94 NORTH AMERICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 95 NORTH AMERICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 96 NORTH AMERICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             TABLE 97 NORTH AMERICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
             TABLE 98 NORTH AMERICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
             TABLE 99 NORTH AMERICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 100 NORTH AMERICA: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 102 US: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 103 US: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 104 US: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 106 CANADA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 107 CANADA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 108 CANADA: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 110 MEXICO: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 111 MEXICO: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 112 MEXICO: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
     12.5 MIDDLE EAST & AFRICA
             TABLE 113 MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2017–2020 (UNITS)
             TABLE 114 MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 115 MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 116 MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             TABLE 117 MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
             TABLE 118 MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
             TABLE 119 MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 120 MIDDLE EAST & AFRICA: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 122 SAUDI ARABIA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 123 SAUDI ARABIA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 124 SAUDI ARABIA: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 126 UAE: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 127 UAE: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 128 UAE: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 130 SOUTH AFRICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 131 SOUTH AFRICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 132 SOUTH AFRICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.5.4 REST OF MIDDLE EAST & AFRICA
                        TABLE 133 REST OF MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                        TABLE 134 REST OF MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                        TABLE 135 REST OF MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 136 REST OF MIDDLE EAST & AFRICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
     12.6 SOUTH AMERICA
             TABLE 137 SOUTH AMERICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2017–2020 (UNITS)
             TABLE 138 SOUTH AMERICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2021–2026 (UNITS)
             TABLE 139 SOUTH AMERICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2017–2020 (USD MILLION)
             TABLE 140 SOUTH AMERICA: COOLING TOWER MARKET SIZE, BY COUNTRY, 2021–2026 (USD MILLION)
             TABLE 141 SOUTH AMERICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
             TABLE 142 SOUTH AMERICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
             TABLE 143 SOUTH AMERICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
             TABLE 144 SOUTH AMERICA: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 146 BRAZIL: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 147 BRAZIL: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 148 BRAZIL: COOLING TOWER 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: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                                      TABLE 150 ARGENTINA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                                      TABLE 151 ARGENTINA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                                      TABLE 152 ARGENTINA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (USD MILLION)
             12.6.3 REST OF SOUTH AMERICA
                        TABLE 153 REST OF SOUTH AMERICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (UNITS)
                        TABLE 154 REST OF SOUTH AMERICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2021–2026 (UNITS)
                        TABLE 155 REST OF SOUTH AMERICA: COOLING TOWER MARKET SIZE, BY APPLICATION, 2017–2020 (USD MILLION)
                        TABLE 156 REST OF SOUTH AMERICA: COOLING TOWER 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 COOLING TOWER MARKET SHARE, BY COMPANY (2020)
             TABLE 157 COOLING TOWER 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

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

Company Information

  • Detailed analysis and profiling of additional market players (up to ten)
Report Code
CH 3509
Published ON
Mar, 2022
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