Industrial Cooling System Market, Opportunity, Growth Drivers, Industry Trend Analysis and Forecast, 2024-2032

Description

The Global Industrial Cooling System Market will register over 6% CAGR from 2024 to 2032, due to escalating industrialization and the expansion of manufacturing activities. The rising need for energy-efficient and environmentally friendly cooling systems is pushing technological advancements. Quoting an instance, in March 2024, Carrier launched the AquaForce 30XF air-cooled screw chillers for data centers. Featuring hydronic free-cooling systems and variable-speed drives, the chillers improve efficiency, reduce carbon emissions, and ensure reliable operation, even in diverse climates.

Regulatory pressures and the growing focus on reducing carbon footprints are aiding the adoption of innovative cooling technologies. Furthermore, the surge in data centers and power generation facilities, which require reliable cooling systems to maintain operational efficiency, is fueling market expansion.

The industrial cooling system market is sorted based on product, capacity, application, and region.

The hybrid cooling segment will exhibit a robust growth rate through 2032, due to its ability to offer enhanced efficiency and flexibility. Hybrid systems combine multiple cooling methods and provide optimal performance across varying operational conditions, leading to significant energy savings and reduced operational costs. Their adaptability to different environmental conditions and integration capabilities with existing infrastructure further boost their appeal. As industries seek solutions that balance performance with sustainability, hybrid cooling systems are gaining traction for their ability to meet efficiency and environmental standards.

The automotive segment will acquire a noteworthy industrial cooling system market share by 2032, driven by the demand for advanced cooling solutions. As automotive technologies advance, especially with the rise of electric and hybrid vehicles, the need for efficient cooling systems to manage high-performance components and battery temperatures becomes crucial. Additionally, the automotive sector's push towards higher efficiency and reduced emissions aligns with the development of more advanced cooling technologies, further stimulating market growth.

North American industrial cooling system market will show remarkable growth during the forecast period, bolstered by substantial investments in infrastructure development and industrial expansion. The region's focus on modernizing aging facilities and adopting advanced cooling technologies to improve efficiency and productivity fuels the demand. Additionally, stringent environmental regulations and a push for energy conservation are encouraging industries to upgrade to more efficient cooling solutions. The growing adoption of smart technologies and automation in industrial processes ushers the need for advanced cooling systems that can seamlessly integrate with new technologies and provide better operational performance, favoring regional market growth.

Product Code: 675

Chapter 1 Research Methodology and Scope

1.1 Scope and definition
- 1.1.1 Scope
- 1.1.2 Definitions
1.2 Research design
- 1.2.1 Data collection techniques
- 1.2.2 Market size estimation
- 1.2.3 Forecasting model
1.3 Data sources
- 1.3.1 Secondary
  - 1.3.1.1 Paid sources
  - 1.3.1.2 Public sources
- 1.3.2 Primary

Chapter 2 Executive Summary

2.1 Industrial cooling system industry 360° synopsis, 2021 - 2032
2.2 Business trends
- 2.2.1 Total addressable market (TAM), 2024-2032
2.3 Regional trends
2.4 Product type trends
2.5 Application trends

Chapter 3 Industrial Cooling Systems Industry Insights

3.1 Russia-Ukraine war impact
3.2 Industry ecosystem analysis
- 3.2.1 Raw material and component suppliers
- 3.2.2 Manufacturers
- 3.2.3 Technology Provider
- 3.2.4 Distribution Channel analysis
- 3.2.5 End user landscape.
3.3 Vendor matrix
3.4 Profit margin analysis
3.5 Technology and innovation landscape
- 3.5.1 Digitalization and Connectivity
- 3.5.2 Eco-friendly Refrigerant
- 3.5.3 Thermal energy storage
3.6 Patent analysis
3.7 Key news and initiatives
3.8 Regulatory landscape
- 3.8.1 International
  - 3.8.1.1 ISO 6369:2023
  - 3.8.1.2 IEC 60335-2-104 Ed. 1.0 b:2003
- 3.8.2 North America
  - 3.8.2.1 U.S. Environmental protection agency (EPA)
  - 3.8.2.2 40 CFR Part 63
  - 3.8.2.3 ASHRAE 90.1
- 3.8.3 Europe
  - 3.8.3.1 EU F-Gas regulation
  - 3.8.3.2 EU energy directive
- 3.8.4 Asia Pacific
  - 3.8.4.1 SB/T 10941-2012 automatic ice machine test method
  - 3.8.4.2 AS/NZS 4865.1:2008
- 3.8.5 Latin America
  - 3.8.5.1 Brazilian HCFC phase-out management plan
- 3.8.6 MEA
  - 3.8.6.1 The regulation of energy efficiency label (Saudi Arabia)
3.9 Industry impact forces
- 3.9.1 Growth drivers
  - 3.9.1.1 Growing data center industry
  - 3.9.1.2 Focus on food safety and cold chain logistics
  - 3.9.1.3 Increasing demand for cooling systems in the automotive sector
  - 3.9.1.4 Supportive government policies
  - 3.9.1.5 Increasing Pharmaceutical Sector's Demand for Industrial Cooling Systems
- 3.9.2 Industry pitfalls and challenges
  - 3.9.2.1 High initial investment
  - 3.9.2.2 High water consumption
3.10 Growth potential analysis, 2023
3.11 Porter's analysis
3.12 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of the key market players
4.4 Competitive analysis of prominent market players
- 4.4.1 Emerson Electric Co.
- 4.4.2 Vertiv Group Corporation
- 4.4.3 STULZ GmbH
- 4.4.4 Rittal GmbH and Co. KG
- 4.4.5 Baltimore Aircoil Company Inc.
- 4.4.6 Black Box Corporation
- 4.4.7 Hamon Group
4.5 Competitive positioning matrix
4.6 Strategic outlook matrix

Chapter 5 Industrial Cooling System Market, By Product

5.1 Industrial cooling system market share, by product, 2023 and 2032
5.2 Air process cooling
5.3 Evaporative process cooling
5.4 Hybrid process cooling
5.5 Water process cooling
5.6 Other cooling

Chapter 6 Industrial Cooling System Market, By Capacity

6.1 Industrial cooling system market share, by capacity, 2023 and 2032
6.2 Small (< 20 tons)
6.3 Medium (20-100 tons)
6.4 Large (>100 tons)

Chapter 7 Industrial Cooling System Market, By Application

7.1 Industrial cooling system market share, By application, 2023 and 2032
7.2 Automotive
7.3 Chemical
7.4 Food and beverages
7.5 Utility and power
7.6 Oil and gas
7.7 Pharmaceutical
7.8 Industrial machinery
7.9 Data centers
7.10 Others

Chapter 8 Industrial Cooling Systems Market, By Region

8.1 Industrial cooling systems market share, by region, 2023 and 2032
8.2 North America
- 8.2.1 U.S.
- 8.2.2 Canada
8.3 Europe
- 8.3.1 Germany
- 8.3.2 UK
- 8.3.3 France
- 8.3.4 Italy
- 8.3.5 Spain
- 8.3.6 Russia
- 8.3.7 Rest of Europe
8.4 Asia Pacific
- 8.4.1 China
- 8.4.2 India
- 8.4.3 Japan
- 8.4.4 South Korea
- 8.4.5 ANZ
- 8.4.6 Rest of Asia Pacific
8.5 Latin America
- 8.5.1 Brazil
- 8.5.2 Mexico
- 8.5.3 Rest of Latin America
8.6 MEA
- 8.6.1 UAE
- 8.6.2 Saudi Arabia
- 8.6.3 South Africa
- 8.6.4 Rest of MEA

Chapter 9 Company Profiles

9.1 Airedale International Air Conditioning Ltd.
9.2 Babcock and Wilcox Enterprises, Inc.
9.3 Baltimore Aircoil Company, Inc.
9.4 Emerson Electric Co.
9.5 EVAPCO, Inc.
9.6 ENEXIO Management GmbH
9.7 HAMON Group
9.8 Brentwood Industries, Inc.
9.9 GEA Group Aktiengesellschaft
9.10 Johnson Controls Inc.
9.11 Paharpur Cooling Towers Ltd.
9.12 Rittal GmbH and Co. KG
9.13 Robson Industries Inc.