Future (MRFR) has published a cooked research report on the “cooling towers market”
that contains information from 2023 to 2032. The cooling towers market is
estimated to register a CAGR of 4.70% during the forecast period of 2023 to 2032
and projected to grow at USD 3.9 billion by 2032.
the following companies as the key players in the Market- Krones AG, SPX
CORPORATION, Babcock & Wilcox Enterprises, Inc., EWK, Kelvion Holding GmbH,
HAMON & CIE (INTERNATIONAL) S.A., MITA Cooling Technologies Srl, JACIR –
GOHL, ILMED IMPIANTI SRL, JAEGGI Hybridtechnologie AG, EVAPCO, Inc.
Cooling Towers Market Overview
The projected growth of the cooling towers market reflects the industry's trajectory over
the forecast period (2023 - 2032). The cooling towers market is projected to
grow from USD 2.7 Billion in 2023 to USD 3.9 Billion by 2032 and grow at a compound
annual growth rate (CAGR) of 4.70%.
The global cooling towers market refers to
the industry that deals with the manufacturing, distribution, and installation
of cooling towers, which are essential components of various industrial
processes and HVAC systems. Cooling towers are used to dissipate heat from
industrial processes, power plants, and building air conditioning systems by
allowing warm water to cool through evaporation.
of the World
and Infrastructure Growth: Rapid industrialization and infrastructure
development drive the demand for cooling towers in various industries.
Growing energy demand and the expansion of power generation capacities increase
the need for cooling towers in thermal power plants.
Regulations: Stricter environmental regulations push industries to adopt
efficient cooling solutions that reduce water consumption and environmental
Cooling towers are used in renewable energy applications like concentrated
solar power plants and biomass facilities.
Commercial Construction: HVAC cooling towers are essential for commercial
buildings, which are on the rise due to urbanization.
Cooling Towers Market Key
Key Companies in the Cooling Towers market
& Wilcox Enterprises, Inc.
& CIE (INTERNATIONAL) S.A.
Cooling Technologies Srl
Cooling towers require significant water consumption, which can be a challenge
in water-stressed regions.
Efficiency: Ensuring proper maintenance and efficient operation of cooling
towers is crucial.
Expertise: Proper design and operation of cooling towers require technical
Technologies: Emerging technologies like dry cooling systems pose competition
to traditional wet cooling towers.
The North American
cooling towers market is mature, driven by established industrial sectors and a
focus on energy efficiency. Stringent environmental regulations encourage the
adoption of advanced cooling technologies that reduce water consumption and environmental
impact. The region's power generation sector drives demand for cooling towers
in thermal power plants.
towers market emphasizes sustainability and environmental responsibility,
driving the adoption of eco-friendly cooling solutions.
emphasis on renewable energy projects includes cooling towers for concentrated
solar power and biomass facilities. Industries like petrochemicals,
manufacturing, and commercial facilities require cooling towers for efficient
experiences significant industrial and infrastructure growth, driving demand
for cooling towers. The region's expanding power generation capacity fuels
demand for cooling towers in thermal power plants. Rapid urbanization and
construction projects lead to increased cooling tower needs in commercial
buildings and industrial facilities.
Latin America is
an emerging market for cooling towers, driven by industrial expansion and
infrastructure projects. The region's power generation sector requires cooling
towers to manage excess heat. Growing urbanization contributes to demand for
cooling solutions in commercial buildings and industries.
The cooling towers
market in Africa is influenced by infrastructure development and urbanization.
Cooling towers are required for power generation and various industrial
The Middle East
cooling towers market varies across countries due to economic factors and
environmental considerations. The region's energy needs drive demand for
cooling towers in thermal power plants.
In October 2020,
EWK installed eight towers at the Alicante airport in Spain. These towers are
reinforced with "smart cooling tower" technology, providing
autonomous detection and information regarding their operation.