The global Cooling Tower Market size was valued at USD 3.53 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2022 to 2030.

Cooling Tower Market Overview

A cooling tower is a device that removes excess heat and relies on water to transfer the waste heat to the atmosphere. It has many advantages such as cost-effectiveness, energy efficiency, water saving, optimal cooling and corrosion resistance, easy installation, high structural strength, longer service life, and reduced noise pollution. Therefore, it is widely used in ventilation, heating and air conditioning (HVAC) systems, power production, oil refineries, refrigeration equipment, and food processing industries. Apart from this, it is also used for comfort cooling in large commercial facilities such as hospitals, airports, schools, and hotels.

Contrive Datum Insights has recently published the Cooling Tower Market to its huge database which helps to shape the future of businesses by making well-informed business decisions. It offers a comprehensive analysis of various business aspects such as global market trends, recent technological advancements, market size, shares, and new innovations. Furthermore, this analytical data has been compiled through data exploratory techniques such as primary and secondary research. Moreover, an expert team of researchers throws light on various static and dynamic aspects of the global Cooling Tower market.

Some of the key players profiled in the study are:

Different leading key players have been profiled to get better insights into the businesses. It offers detailed elaboration on different top-level industries which are functioning in global regions. It includes informative data such as company overview, contact information, and some significant strategies followed by key players: 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)

Industry Development:

• In July 2021, Baltimore Aircoil Company Inc. acquired Eurocoil Spa (Italy), a well-known refrigeration manufacturer and European business company. This achievement further strengthens its position in the global refrigeration market.
• In December 2020, Harmon acquired ESINDUS (Spain), a refrigeration business in the Iberian Peninsula, Mexico, and South America. With this acquisition, Hamon & Cie aims to strengthen its geographic presence in Asia, EMEA, and North America.

What are the major Applications, Types, and Regions for the Cooling Tower Market?

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

Cooling Tower Market Regional Insights:

The Asia-Pacific region has low-cost raw materials and labor. Domestic demand is also growing in the region, making it an attractive investment destination for cooling tower manufacturers. Rising population, urbanization, industrialization, and increasing focus on infrastructure development in China and India are some of the factors driving the cooling tower market in this region. Asia Pacific is the major market for the production of cooling tower products and is expected to register a CAGR of 5.5% by value during the forecast period.

Geographically, the global Cooling Tower market has been analyzed in various regions such as North America, Europe, Asia-Pacific, Latin America, Middle East, and India. The global region is dominating this market in the upcoming future.

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• France
• Italy
• Spain
• UK
• Nordic Countries
• Denmark
• Finland
• Iceland
• Sweden
• Norway
• Benelux Union
• Belgium
• The Netherlands
• Luxembourg
• Rest of Europe
• Asia-Pacific
• Japan
• China
• India
• Australia
• South Korea
• Southeast Asia
• Indonesia
• Thailand
• Malaysia
• Singapore
• Rest of Southeast Asia
• Rest of Asia-Pacific
• The Middle East & Africa
• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest of the Middle East & Africa
• Latin America
• Brazil
• Argentina
• Rest of Latin America

Cooling Tower Market Report Scope:

Report Attributes	Details
Growth Rate	CAGR of 4.1% from 2022 to 2030.
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
By 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)
Regions and Countries Covered	North America: (US, Canada, Mexico, Rest of North America) Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe) Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific) The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa) Latin America(Brazil, Argentina, Rest of Latin America) Rest Of the World
Base Year	2022
Historical Year	2017 to 2022
Forecast Year	2023 to 2030

 

Frequently Asked Questions (FAQ) about the Cooling Tower market:

What is the CAGR of the global Cooling Tower market?

The Cooling Tower Market is growing at a CAGR of 4.1% during the forecast period.

Which region would offer high growth for vendors in the Cooling Tower market?

Asia Pacific is the major market for the production of cooling tower products and is expected to register a CAGR of 5.5% by value during the forecast period.

Which Is the Most potential market segment?

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

Which are the top industry players in the Cooling Tower market?

Baltimore Aircoil Company Inc., Enexio, Hamon & CIE International SA, Spig S.P.A., SPX Corporation, Bell Cooling Tower, Brentwood Industries, Inc., Johnson Controls Inc., Paharpur Cooling Tower Limited, Star Cooling Towers Pvt. Ltd.

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