Cooling towers market to reach USD 4.7 billion by 2027. Global cooling towers market is valued approximately at USD 3.53 billion in 2020 and is anticipated to grow with a healthy growth rate of about 4.1% over the forecast period 2021-2027.
Cooling towers are a special kind of heat exchanger which are designed to remove heat from a facility or building by spraying water down through the tower in order to exchange heat inside of the building. Air comes from the tower sides and then passes through the falling water. The global cooling towers market is being driven by rapid industrialization and the establishment of new data centers and increasing demand for energy-efficient cooling systems in industrial and commercial applications.
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Furthermore, growing demand from nuclear power generation will provide new opportunities for the global cooling towers industry. There has been growth witnessed in the number of data centers across the globe. For instance, according to Statista, since 2015, the total number of hyperscale data centers across the globe has more than doubled and have reached 597 by the end of 2020. Such growth in the number of data centers across the globe is expected to increase the demand and adoption of cooling towers in data centers in order to manage and remove heat from the center. Hence, this is expected to promote the market growth. However, environmental concerns associated with cooling towers may impede market growth over the forecast period of 2021-2027.
The regional analysis of the global cooling towers market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific accounts for the largest share in terms of market revenue in the global cooling towers market over the forecast period 2021-2027. Factors such as rapid industrialization, increase in the number of manufacturing facilities, rising focus to construct nuclear power plants, rapid expansion of IT and telecommunications sector, etc. contribute towards the largest market share of the region in the forecast years.
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Major market player included in this report are:
Babcock & Wilcox Enterprises, Inc.
Baltimore Aircoil Company
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Cooling Tower Systems, Inc.
Delta Cooling Towers
Engie Refrigeration GmbH
Johnson Controls, Inc.
Kelvion Holdings GmbH
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.
The detailed segments and sub-segment of the market are explained below:
Oil & Gas
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027.
Target Audience of the Global Cooling Towers Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
Final Report will add the analysis of the impact of COVID-19 on this industry.”
a large number of indigenous manufacturers of syringes and needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.
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It begins with the introduction section which mentions the features and uses of syringes and needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes and needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.
An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes and needles and problems associated with usage. Government legislation in the market has been discussed in the next section.
The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.
A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:
What is the aim of the report?
Based on various indicators, the Year-on-Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
The various parameters accelerating the growth of Market are incorporated in the research report.
The report analyses growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East and Africa region.
The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
The report offers detailed analysis of leading companies in the market across the globe.
It provides details of the major vendors involved in the Market including Key Players
A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
the manufactured products is incorporated in the report.
The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
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What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter’s Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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