Cooling Towers Market, By Type (Open Cooling Tower and Closed Circuit Cooling Tower), By Heat Transfer Method (Evaporative Cooling, Dry Cooling and Plume Abatement (Hybrid)) and By Application (Air-Conditioning, Power Generation Utilities and Manufacturin

Cooling Towers Market, By Type (Open Cooling Tower and Closed Circuit Cooling Tower), By Heat Transfer Method (Evaporative Cooling, Dry Cooling and Plume Abatement (Hybrid)) and By Application (Air-Conditioning, Power Generation Utilities and Manufacturing Industry) and by Region (Western Europe, Eastern Europe, Asia Pacific (Excluding Far East), Southern Africa, North America and RoW) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

A cooling tower is a heat rejection device that rejects waste heat to the atmosphere through the cooling of a water stream to lower temperature. Cooling tower is used to cool the water circulating in the cooling system. It is a heat rejection device that removes unwanted heat from the cooling system in the atmosphere. The circulating water is cooled either by evaporation or by blowing air to the warm water. There are two types of cooling towers namely open cooling towers and closed-circuit cooling towers. Cooling towers are widely used in different industries such as chemical, oil and gas, food processing, power generation plants, and other air-conditioning applications.
Market Dynamics
Cooling towers are widely used in HVAC systems. The uptake in commercial/infrastructure construction projects worldwide has led to increase in HVAC systems and in-turn has boosted the growth of cooling towers market. With the focus on energy efficiency, developed markets such as the U.S. and Western Europe are anticipated to offer wide opportunities for replacement of legacy cooling towers with the new ones, thus further bolstering the growth of the market. The growth in cooling towers market is majorly fueled by steady economic development, and the rapid pace of industrialization in nations such as India, China, Korea, Taiwan, and Singapore. Therefore, these factors are expected to propel the global cooling towers market growth over the forecast period. Increase in GDP growth rate has led to increase in infrastructural development and subsequently enhanced HVAC deployments. The global market has witnessed increasing output at the end of 2013 with developed countries such as Germany, Japan, and the U.S. being the major contributors. Instead of fears of fiscal budget cuts and government shutdown in 2013, the purchasing managers index (PMI) in the U.S. has observed steady uptake to post gross domestic product (GDP) growth of over 3 % in the second, third and fourth quarter of 2013. Furthermore, emerging economies such as India, China, and Taiwan, Singapore, and South Korea have witnessed constant increase in production, which in turn, is expected to propel the global cooling towers market growth over the forecast period.
Market Taxonomy
This report segments the Global Cooling Towers Market on the basis of Type, Heat Transfer Method, Application and Region. On the basis of Type, Global Cooling Towers Market is segmented into Open Cooling Tower and Closed Circuit Cooling Tower. On the basis of Heat Transfer Method, the Global Cooling Towers Market is segmented into Evaporative Cooling, Dry Cooling and Plume Abatement (Hybrid). On the basis of Application, the Global Cooling Towers Market is segmented into Air-Conditioning, Power Generation Utilities and Manufacturing Industry. On the basis of region, Global Cooling Towers Market is segmented into Western Europe, Eastern Europe, Asia Pacific (Excluding Far East), Southern Africa, North America and RoW

Key features of the study:
This report provides an in-depth analysis of the Global Cooling Towers Market and provides market size (US$ Million) and compound annual growth rate (CAGR %) for the forecast period (2022-2028), considering 2021 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
It profiles leading players in the global Cooling Towers Market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
Key companies covered in the Global Cooling Towers Market includes SPIG S.p.A, Absolute Cooling Tower Services Ltd., ESINDUS S.A (Hamon Group), Paharpur Cooling Towers Limited, FANS a.s., LIANG CHI INDUSTRY (THAILAND) CO., LTD., Delta Cooling Towers, Inc., SPX Corporation, Cooling Tower Depot, Inc., and Superchill Australia Pty Ltd.
These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology up gradation, market expansion, and marketing tactics
The global Cooling Towers market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the Global Cooling Towers Market

Detailed Taxonomy:
Global Cooling Towers Market, By Type:
Open Cooling Tower
Closed Circuit Cooling Tower
Global Cooling Towers Market, By Heat Transfer Methods:
Evaporative Cooling
Dry Cooling
Plume Abatement (Hybrid)
•Global Cooling Towers Market, By Application:
Air-Conditioning
Power Generation Utilities
Manufacturing Industry
Global Cooling Towers Market, By Region:
Western Europe
Eastern Europe
Asia Pacific (Excluding Far East)
Southern Africa
North America
RoW
Company Profiles
Absolute Cooling Tower Services Ltd.
Company Overview
Product Portfolio
Financial Performance
Key Strategies
Recent Developments
Future Plans
Cooling Tower Depot Inc.
Delta Cooling Towers, Inc.
ESINDUS S.A (Hamon Group)
FANS a.s.
LIANG CHI INDUSTRY (THAILAND) CO., LTD.
Paharpur Cooling Towers Limited
SPIG S.p.A
SPX Corporation
Superchill Australia Pty Ltd.
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