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Cooling Towers Market: By Form, By Construction, By Application, By End User Industry, By Geography - Forecast(2018-2023)

Report Code : CMR 0401 Format Type: PDF+ Excel Database Client Rating (5/5)
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Cooling towers Market Overview:

A cooling tower is a heat exchanger which allows water and air come into direct contact in order to reduce the waters temperature. A small amount of water is evaporated by reducing the temperature of the water being circulated through towers. The global cooling market is $2037.8M in 2017 and is estimated to grow at a CAGR of 4.84% during 2018-2023. Europe region held the major share of 34%. Cooling towers are the most important part of many industrial plants which is driving the growth of the Cooling Towers Market. 

Cooling towers Market Outlook:

Cooling towers basic task of a cooling tower is to reject heat into the atmosphere. These are relatively inexpensive and dependable means of removing low-grade heat from cooling water. Cooling towers are most widely used to remove excess heat that is generated and is used to represent a relatively dependable and inexpensive means of removing low-grade heat from cooling towers. Cooling towers are segmented basing on the type of cooling towers as natural draft, Mechanical draft, Cross towers, counterflow towers and others. It is further segmented based on the construction of cooling towers as Factory assembled cooling towers and Field erected towers. Cooling towers are used in various industries like Chemical and petrochemical industries, plastic manufacturing and packing industries and others. 


Cooling towers Market Growth drivers:

An important growth driver for cooling towers is its introduction in various industries. Cooling towers started using as energy efficient systems, as water cooled systems as they offer lower energy use than air cooled alternatives as Most of the industries started using Cooling towers as it rejects to process heat into atmosphere. Cooling towers are further used in food processing plants, petroleum refineries, natural gas plants and others as cooling towers are designed for cooling the circulating water during the manufacturing process which is further driving the market. It has this great advantage of Cooling towers is that it prevents the overheating of the other machines so companies expenses will get reduced and machines will get proper power supply to deliver break free performance. 

Cooling towers Market Challenges:

Despite of its advantages and usage in various industries it’s facing a problem with Corrosion and scaling. Cooling towers have the problem with corrosion because once the process is completed, unchecked water run through a cooling tower which eats the metal and lead to leak. The increasing industrial setups are creating an environmental distress such plume, drift and water contaminants are seen moderately hampering the market demand. To overcome such problems, the development of plume abated towers and drift eliminators is expected to overcome these environmental concerns.

Cooling Towers Market

Cooling towers Market Research Scope:

The base year of the study is 2017, with forecast done up to 2023. The study presents a thorough analysis of the competitive landscape, taking into account the market shares of the leading companies. It also provides information on unit shipments. These provide the key market participants with the necessary business intelligence and help them understand the future of the Cooling towersMarket. The assessment includes the forecast, an overview of the competitive structure, the market shares of the competitors, as well as the market trends, market demands, market drivers, market challenges, and product analysis. The market drivers and restraints have been assessed to fathom their impact over the forecast period. This report further identifies the key opportunities for growth while also detailing the key challenges and possible threats. The key areas of focus include the types of plastics in the electric vehicle market, and their specific applications in different types of vehicles.

Cooling towers (SAP) Market Report: Industry Coverage


Cooling Towers Market– By type:

Natural draft cooling towers, mechanical draft cooling towers, cross towers, counter flow towers and others
 

Cooling Towers Market – By Application:

HAVC, refrigeration and chilling part, Diesel engine, cold storage, renewable energy power plant and others

Cooling Towers Market – By End User Industry:

Chemical and petroleum industries, dairy product and process industries, paper manufacturing industries, paint manufacturing industries and others. 

The Cooling towers Market report also analyzes the major geographic regions for the market as well as the major countries for the market in these regions. The regions and countries covered in the study include:
  • North America: The U.S., Canada, Mexico
  • South America: Brazil, Venezuela, Argentina, Ecuador, Peru, Colombia, Costa Rica
  • Europe: The U.K., Germany, Italy, France, The Netherlands, Belgium, Spain, Denmark
  • APAC: China, Japan, Australia, South Korea, India, Taiwan, Malaysia, Hong Kong
  • Middle East and Africa: Israel, South Africa, Saudi Arabia

Cooling Towers Market Key Players:

Some of the Key players in this market that have been studied for this report include: SPX corporation, Hamon axisparc, Enexio, SPIG SPA, Baltimore Aircoil Company, Samco, Nalco, American water treatment, Cannon water treatment and others. 

Market Research and Market Trends of Cooling Towers Market

  • Cooling towers are specialized heat exchangers that are used to reduce the water temperature. These became most common in industries such as oil refining, chemical processing, power plants and others. New technology has been introduced in the industry like Everest cooling towers which 50% more capacity and 35% less fan power to achieve higher energy savings. Cooling towers design minimizes piping and electrical connections to reduce installation costs. Another major advantage for using cooling towers is its low maintenance costs and low cost which is attracting more buyers to purchase the product. New technology has been introduced in the Cooling tower industry, 3D trassar technology ensures that the machine was protected when operators are busy, it will quickly trace and solve the problem. Cooling towers are extensively used in non-industrial segments that include commercial real estate sector to regulate the temperature within thermal and nuclear power plants across the world to ensure optimum production of energy.

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