Cooling Towers Market, By Product Type, By Heat Transfer Method, By Application, By Geography

Description

The global cooling towers market is estimated to be valued at US$ 3.45 Bn in 2024 and is expected to reach US$ 4.91 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 3.45 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 to 2031
Forecast Period 2024 to 2031 CAGR:	5.20%	2031 Value Projection:	US$ 4.91 Bn

Figure. Cooling Towers Market Share (%), By Region 2024

Cooling towers are heat removal devices that release heat from the steam back into the atmosphere. They play a crucial role in various industries such as power generation, HVAC, and industrial machineries by rejecting waste heat to the atmosphere. Rapid industrialization and expansion of manufacturing sector across developing economies have increased the demand for cooling towers for industrial processes. Moreover, rising energy consumption driven by increasing population and urbanization is propelling the installation of new power plants, which in turn is driving the cooling towers market. However, high initial installation and maintenance cost of cooling towers remain a key challenge for market growth. Ongoing research and development in the field of innovative cooling technologies are expected to bring various opportunities in the coming years.

Market Dynamics:

The global cooling towers market is driven by factors such as rapid industrialization and growing manufacturing sector globally. The increasing demand for energy due to rising population and urbanization is propelling the setting up of new power plants, which, in turn, is augmenting the need for cooling towers. However, high initial costs associated with the installation and maintenance of cooling towers acts as a major restraining factor affecting the market growth. The development of eco-friendly cooling technologies presents lucrative opportunities for the stakeholders in the cooling towers market. Ongoing R&D in the area of improving efficiency through new materials and design can further expand the application scope of cooling towers in future.

Key Features of the Study:

This report provides in-depth analysis of the global cooling towers market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global cooling towers market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Baltimore Aircoil Company Inc., Bell Cooling Tower, Brentwood Industries, Inc., ENEXIO Management GmbH, Evapco, Inc., Hamon & Cie International SA, ILMED IMPIANTI SRL, JACIR - GOHL, JAEGGI Hybridtechnologie AG, Johnson Controls, Inc., Kelvion Holding GmbH, Krones AG, MITA Cooling Technologies Srl, Paharpur Cooling Tower Limited, and SPX CORPORATION
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global cooling towers market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global cooling towers market

Detailed Segmentation:

By Product Type
- Open Cooling Tower
- Closed Circuit Cooling Tower
By Heat Transfer Method
- Evaporative Cooling
- Dry Cooling
- Plume Abatement (Hybrid) Cooling
By Application
- Air-Conditioning
- Power Generation
- Manufacturing Industry
By Regional
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
Key Players Insights
- Baltimore Aircoil Company Inc.
- Bell Cooling Tower
- Brentwood Industries, Inc.
- ENEXIO Management GmbH
- Evapco, Inc.
- Hamon & Cie International SA
- ILMED IMPIANTI SRL
- JACIR - GOHL
- JAEGGI Hybridtechnologie AG
- Johnson Controls, Inc.
- Kelvion Holding GmbH
- Krones AG
- MITA Cooling Technologies Srl
- Paharpur Cooling Tower Limited
- SPX CORPORATION

Product Code: CMI4115

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Heat Transfer Method
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Cooling Towers Market, By Product Type, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Open Cooling Tower
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Closed Circuit Cooling Tower
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

5. Global Cooling Towers Market, By Heat Transfer Method, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Evaporative Cooling
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Dry Cooling
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Plume Abatement (Hybrid) Cooling
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)

6. Global Cooling Towers Market, By Application, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
- Segment Trends
Air-Conditioning
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Power Generation
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Bn)
Manufacturing Industry
- Introduction
- Mark
- et Size and Forecast, 2019-2031, (US$ Bn)

7. Global Cooling Towers Market, By Region, 2019-2031, (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019-2031
North America
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Heat Transfer Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Heat Transfer Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Germany
  - U.K.
  - Spain
  - France
  - Italy
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Heat Transfer Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Heat Transfer Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East & Africa
- Regional Trends
- Market Size and Forecast, By Product Type, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Heat Transfer Method, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Application, 2019-2031, (US$ Bn)
- Market Size and Forecast, By Country, 2019-2031, (US$ Bn)
  - South Africa
  - Israel
  - GCC Countries
  - Rest of the Middle East & Africa

8. Competitive Landscape

Company Profiles
- Baltimore Aircoil Company Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Bell Cooling Tower
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Brentwood Industries, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- ENEXIO Management GmbH
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Evapco, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Hamon & Cie International SA
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- ILMED IMPIANTI SRL
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- JACIR - GOHL
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- JAEGGI Hybridtechnologie AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Johnson Controls, Inc.
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Kelvion Holding GmbH
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Krones AG
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- MITA Cooling Technologies Srl
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- Paharpur Cooling Tower Limited
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates
- SPX CORPORATION
  - Company Overview
  - Product Portfolio
  - Financial Performance
  - Key Strategies
  - Recent Developments/Updates

9. Analyst Recommendations

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Research Methodology

References
Research Methodology
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