The Europe Field-Erected Cooling Towers Market research report provides a succinct analysis on the recent market trends. In addition, the report offers a thorough abstract on the statistics, market estimates and revenue forecasts, which further highlights its position in the industry, in tandem with the growth strategies adopted by leading industry players.
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Market Analysis of Europe Field-Erected Cooling Towers –
A cooling system is a a specialized device during which air and water are brought into direct contact with one another so as to scale back the water’s temperature. As per this, a little volume of water is evaporated, reducing the temperature of the water being circulated through the tower. Power plants implement closed cooling systems with the towers to affect water scarcity. The towers start the cooling process by reusing the water, making power plants economical and environment-friendly. There are basically three types of towers available such as; wet, dry and hybrid. Cooling towers has common applications such as cooling the circulating water used in thermal power stations, nuclear power stations and HVAC systems for cooling buildings, oil refineries, petrochemical and other chemical plants. It is also used in some coal-fired plants and to some extent in some large chemical and other industrial plants.
Europe Field-Erected Cooling Towers Market is segmented on the basis of type, design, end-user and region & country level. Based upon type, Europe Field-Erected Cooling Towers market is classified into wet, dry and hybrid. Based upon design, the market is classified into natural, forced and induced. Based upon end-user, Europe Field-Erected Cooling Towers market is classified into power generation, petrochemical and oil & gas, iron & steel and metallurgy and paper mills.
The regions covered in this Europe Field-Erected Cooling Towers market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, market of Europe Field-Erected Cooling Towers is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Key Players of Europe Field-Erected Cooling Towers Market Report-
Europe Field-Erected Cooling Towers market report covers prominent players are Baltimore Aircoil Company Inc., Spig S.P.A., Evapco Inc., Hamon & CIE International SA, Star Cooling Towers, Babcock & Wilcox, SPX Corporation, Paharpur Cooling Towers Ltd., Delta Cooling Towers, Brentwood Industries, Inc., Enexio Management GmbH, Mesan Group, Benchmarking, Evapco, International Cooling Tower and others.
Europe Field-Erected Cooling Towers Market Dynamics–
Increasing number of power plants and extended power generation capacities worldwide are some of the factors driving growth of Europe Field-Erected Cooling Towers market. As per IEA, Power sector emissions increased 2.6% in 2017 and a further 2.5% in 2018. In addition, an increasing number of natural gas-fired power plants and rise in construction of power plants for increasing power generation which operated with water, waste, biofuel, solar power and wind are also fostering the demand for cooling towers. According to U.S. Energy Information Administration, natural gas accounted for 34% of total electricity generation in 2018 and projected its share to grow to 40% by 2032 and then remain between 39% and 40% throughout 2050. Furthermore, growing industrial activities are also supplementing the market growth. However, stringent government rule & regulation, high cost in construction & maintenance and growing alternative energy programs may hamper the growth of Europe Field-Erected Cooling Towers market. Moreover, increasing technological advancements in oil and gas industries as well as food industries can create opportunities for the further growth of the Europe Field-Erected Cooling Towers market.
Europe Field-Erected Cooling Towers Market Regional Analysis–
North America is expected to dominate the Europe field-erected cooling tower market due to growing awareness regarding the benefits of cooling tower technology in this region. The Europe market is expected to show a significant growth due to increasing innovation in oil fields and industrial sectors. The regional oilfield service companies are focusing towards production to gain a competitive advantage over other industry participants and to maximize their revenues. According to International Renewable Energy Agency, The EU has adopted targets to achieve a 20% share of renewable energy in energy consumption by 2020, and 32% by 2030.
The Asia Pacific region was expected to witness a fastest growth in the Europe field-erected cooling tower market with the largest market during the forecast period. The rising population, urbanization, and industrialization, along with growing concerns related to infrastructure development generates the demand for electricity for industrial, transport and house hold purpose in China and India are some of the factors driving the market growth in this region. According to World Nuclear Association, Most of mainland China’s electricity is produced from fossil fuels, predominantly coal as 69% in 2019 and Wind and solar capacity was 21% of total installed generating capacity, but delivering fewer than 9% of the electricity. Besides, Governments in countries like India, China, and Japan are majorly focusing on installing power plants to compete the ever increasing electricity demand. In addition, According to World Nuclear Association, 26 GWe of new wind capacity and 31 GWe of solar PV were installed in china during 2019. As per International Energy Agency (IEA), Nuclear power investment edged up as new grid- connected plants grew threefold, 80% of them in China in 2018.
Key Benefits for Europe Field-Erected Cooling Towers Market Report–
Europe market report covers in depth historical and forecast analysis.
Europe market research report provides detail information about Market Introduction, Market Summary, Europe market Revenue (Revenue USD), Market Drivers, Market Restraints, Market opportunities, Competitive Analysis, Regional and Country Level.
Europe market report helps to identify opportunities in market place.
Europe market report covers extensive analysis of emerging trends and competitive landscape.
Europe Field-Erected Cooling Towers Market Segmentation:–
- Power Generation
- Petrochemical and Oil & Gas
- Iron & Steel and Metallurgy
- Paper Mills
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