SPX (US) and Enexio (Germany) are the Major Players in the Field-Erected Cooling Tower Market
The field-erected cooling tower market is projected to reach USD 2.15 Billion by 2022, growing at a CAGR of 3.78% from 2017 to 2022. This market growth is primarily driven by stringent environmental regulations and growth in industrial activities.
Asia Pacific would continue to be the largest market for field-erected cooling towers followed by North America during the forecast period. The global market is dominated by major players including SPX (US), Hamon (Belgium), Enexio (Germany), Evapco (US), and BAC (US).
The market growth strategies adopted by key players in the field-erected cooling tower market include contracts & agreements, new product launches, and mergers, acquisitions, & partnerships. Contracts & agreements was the most commonly adopted strategy by market players from 2014 to December 2017. Industry players also adopted new product launches during the stated period.
SPX is one of the leading manufacturers of cooling towers, evaporative fluid coolers, evaporative condensers, and air-cooled heat exchangers. The products and services offered by the company serve the process cooling, industrial, refrigeration, and HVAC markets. The company operates its business through three reportable segments, namely, engineered solutions, HVAC, and detection and measurement. The engineered solutions business segment offers filed-erected cooling towers which accounted for 50.0% of the total net sales in 2016. The company invested 29.1 million in R&D capabilities to expand its product portfolio with the introduction of its new Marley CP fiberglass cooling tower in 2016.
Enexio is a manufacturer of power plant cooling systems. The product portfolio encompasses dry cooling systems, wet cooling towers, ash handling systems, and 2H components & solutions. The dry cooling system includes air-cooled condensers, Heller indirect dry cooling systems, and combined cooling systems. Also, it offers wet cooling towers, such as field-erected mechanical draft cooling towers, natural draft cooling towers, cooling tower components, and after-sales and services. Furthermore, the 2H components and solutions, includes fills, structured packings, lamella clarifiers, and more. It serves power generation, and water purification and wastewater treatment industries. The company has a strong regional footprint across all the regions. In Europe, the company has its presence in Germany (Herne & Leipzig), Great Britain (Minworth), and Italy (Mornago - VA). In 2017, the company adopted inorganic growth strategies to expand its presence in Mexico and Iraq. As a part of the strategy, the company was awarded contracts from various companies such as Tecnicas Reunidas, Madrid and Mass Group Holding, Iraq to install air-cooled condensers in their respective countries. These contracts are likely to boost the performance of the company in the field-erected cooling tower market.
Related Reports:
Field-Erected Cooling Tower Market by Type (Wet, Dry, and Hybrid), Design (Natural, Forced, and Induced), End-User (Power Generation, Petrochemical and Oil & Gas, Iron & Steel and Metallurgy, Paper Mills), and Region - Global Forecasts to 2022
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