Cooling Tower Rental Market - Forecasts from 2025 to 2030
Description
The Cooling Tower Rental Market is projected to rise from USD 1.007 billion in 2025 to USD 1.299 billion in 2030, at a CAGR of 5.23%.
Cooling tower rentals provide essential temporary cooling solutions for industries requiring heat dissipation with minimal water usage. These pre-packaged, deployable systems serve as cost-effective alternatives to permanent installations, particularly during maintenance, repairs, or peak demands. Classified by air circulation into natural draft and mechanical draft types, rental towers are widely used in sectors such as food processing, petroleum refineries, natural gas plants, and petrochemicals. The market is driven by expanding industrial and manufacturing activities, rising needs for ventilation and air conditioning, and economic advantages of renting over purchasing. Technological advancements in energy-efficient and modular designs further enhance growth opportunities, though water scarcity in certain regions and oil price fluctuations pose restraints.
The market emphasizes operational continuity in mission-critical facilities like power plants, refineries, and IT systems. Rapid industrialization in emerging economies favors short-term, low-cost cooling solutions, while stringent environmental regulations promote innovations in modular, water-saving technologies. The competitive landscape features major players including Carrier Rental Systems, Johnson Controls, Finning International, Aggreko, GOHL-KTK GmbH, United Rentals, SPX Corporation, Midwest Cooling Tower Services, ENGIE Refrigeration, and JACIR. These firms compete on fleet size, technological innovations, geographic coverage, and value-added services like energy-efficient, environmentally friendly options.
Market Drivers
Rise in Construction Activities
Increasing construction in developed and developing regions boosts demand for cooling, refrigeration, HVAC, and ventilation equipment. Infrastructure projects, such as ports, airports, and bridges, amplify this need. For instance, the expansion of John F. Kennedy International Airport's terminal complexes, set for completion by 2025, underscores the requirement for advanced HVAC systems. Innovations like smart cooling tower technology, which automatically detects and optimizes operations, ensure energy consumption aligns with needs, maximizing productivity.
Expansion of Data Centers
The global surge in data centers, driven by AI, cloud services, and streaming workloads, significantly propels the market. U.S. data center electricity usage reached 176 TWh in 2023, projected to climb to 325–580 TWh by 2028, directly correlating with heightened cooling demands. Rental towers offer scalable, flexible solutions to bridge gaps during construction, retrofits, or peak loads, minimizing downtime risks. Sustainability pressures, including water usage scrutiny, encourage bundled services with water treatment and digital monitoring. In India, data center capacity is forecasted to grow from 1.4 GW in 2023 to 9 GW by 2030, potentially consuming 3% of national electricity and intensifying reliance on temporary cooling for operational resilience.
Market Segment Analysis
The market segments by type into wet, dry, and hybrid systems, with wet towers dominating due to efficiency, while hybrids gain traction for sustainability. Mechanical draft towers, particularly induced draft variants, lead owing to compact designs and superior performance; natural draft types are less prevalent in rentals due to installation constraints. Capacity-wise, 500–1,000-ton units prevail for mid-scale applications, but demand for >1,000-ton systems surges in energy-intensive sectors like power generation, oil & gas, petrochemicals, steel, cement, mining, and data centers. These large-capacity rentals support massive heat rejection for process stability and safety, influenced by regulatory compliance from bodies like the EPA, EEA, OSHA, and the Paris Agreement.
The power generation segment is poised for significant growth, driven by consistent needs for large-scale cooling in coal, gas, nuclear, and hybrid renewable plants. Integration of renewables introduces grid intermittency, increasing reliance on thermal backups and thus cooling demands. Providers like Aggreko offer custom modular fleets with specialized deployment for productivity.
Regional Analysis
North America, led by the U.S., dominates the market, fueled by stringent environmental regulations, infrastructure development, and water management policies. The U.S. industrial base in power generation, oil & gas, construction, and petrochemicals necessitates flexible cooling for outages, seasonal peaks, and emergencies. Refinery capacity expansions, with operable petroleum refineries producing substantial volumes of alkylates (1,368,437 barrels per stream day), aromatics (349,509), and other products as of January 2025, further drive demand. Innovations like Aggreko's February 2024 patented ISO-compliant containerized cooling tower, offering 80% energy savings and 22% reduced footprint, align with emission reduction goals.
Asia-Pacific follows with robust growth from industrialization in Japan, China, and India, supported by local players and infrastructure booms.
Key Developments
In 2025, Johnson Controls partnered as the Building Technology Partner at ACREX India 2025, launching next-generation solutions including the YVAA0459XL Air-Cooled Screw Chiller, YORK VWF (Variable Water Flow) System, and YORK YVAM Magnetic Bearing Chiller (Air-Cooled), emphasizing smart building technologies.
The cooling tower rental market thrives on industrial expansion, data center proliferation, and sustainability mandates, with large-capacity and power generation segments leading growth. North America maintains dominance, while Asia-Pacific accelerates. Innovations in modular, efficient systems will sustain momentum amid environmental challenges.
Key Benefits of this Report:
Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, and other sub-segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decisions to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.
What do businesses use our reports for?
Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence
Report Coverage:
Historical data from 2022 to 2024 & forecast data from 2025 to 2030
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others.
Market Segmentation:
By Type
Evaporative Cooling Tower Rental
Fluid Cooler Cooling Tower Rental
By Circuit Type
Closed Circuit
Open Circuit
By Capacity
Up to 300 Tons
300 to 600 Tons
Greater than 600 Tons
By Power Output
Up to 1,000 kW
1,000 to 3,000 kW
Greater than 3,000 kW
By End-User
Chemicals & Petrochemical
Food & Beverage
Construction
Oil & Gas
Energy & Utilities
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
India
Japan
South Korea
Indonesia
Thailand
Taiwan
Others
Cooling tower rentals provide essential temporary cooling solutions for industries requiring heat dissipation with minimal water usage. These pre-packaged, deployable systems serve as cost-effective alternatives to permanent installations, particularly during maintenance, repairs, or peak demands. Classified by air circulation into natural draft and mechanical draft types, rental towers are widely used in sectors such as food processing, petroleum refineries, natural gas plants, and petrochemicals. The market is driven by expanding industrial and manufacturing activities, rising needs for ventilation and air conditioning, and economic advantages of renting over purchasing. Technological advancements in energy-efficient and modular designs further enhance growth opportunities, though water scarcity in certain regions and oil price fluctuations pose restraints.
The market emphasizes operational continuity in mission-critical facilities like power plants, refineries, and IT systems. Rapid industrialization in emerging economies favors short-term, low-cost cooling solutions, while stringent environmental regulations promote innovations in modular, water-saving technologies. The competitive landscape features major players including Carrier Rental Systems, Johnson Controls, Finning International, Aggreko, GOHL-KTK GmbH, United Rentals, SPX Corporation, Midwest Cooling Tower Services, ENGIE Refrigeration, and JACIR. These firms compete on fleet size, technological innovations, geographic coverage, and value-added services like energy-efficient, environmentally friendly options.
Market Drivers
Rise in Construction Activities
Increasing construction in developed and developing regions boosts demand for cooling, refrigeration, HVAC, and ventilation equipment. Infrastructure projects, such as ports, airports, and bridges, amplify this need. For instance, the expansion of John F. Kennedy International Airport's terminal complexes, set for completion by 2025, underscores the requirement for advanced HVAC systems. Innovations like smart cooling tower technology, which automatically detects and optimizes operations, ensure energy consumption aligns with needs, maximizing productivity.
Expansion of Data Centers
The global surge in data centers, driven by AI, cloud services, and streaming workloads, significantly propels the market. U.S. data center electricity usage reached 176 TWh in 2023, projected to climb to 325–580 TWh by 2028, directly correlating with heightened cooling demands. Rental towers offer scalable, flexible solutions to bridge gaps during construction, retrofits, or peak loads, minimizing downtime risks. Sustainability pressures, including water usage scrutiny, encourage bundled services with water treatment and digital monitoring. In India, data center capacity is forecasted to grow from 1.4 GW in 2023 to 9 GW by 2030, potentially consuming 3% of national electricity and intensifying reliance on temporary cooling for operational resilience.
Market Segment Analysis
The market segments by type into wet, dry, and hybrid systems, with wet towers dominating due to efficiency, while hybrids gain traction for sustainability. Mechanical draft towers, particularly induced draft variants, lead owing to compact designs and superior performance; natural draft types are less prevalent in rentals due to installation constraints. Capacity-wise, 500–1,000-ton units prevail for mid-scale applications, but demand for >1,000-ton systems surges in energy-intensive sectors like power generation, oil & gas, petrochemicals, steel, cement, mining, and data centers. These large-capacity rentals support massive heat rejection for process stability and safety, influenced by regulatory compliance from bodies like the EPA, EEA, OSHA, and the Paris Agreement.
The power generation segment is poised for significant growth, driven by consistent needs for large-scale cooling in coal, gas, nuclear, and hybrid renewable plants. Integration of renewables introduces grid intermittency, increasing reliance on thermal backups and thus cooling demands. Providers like Aggreko offer custom modular fleets with specialized deployment for productivity.
Regional Analysis
North America, led by the U.S., dominates the market, fueled by stringent environmental regulations, infrastructure development, and water management policies. The U.S. industrial base in power generation, oil & gas, construction, and petrochemicals necessitates flexible cooling for outages, seasonal peaks, and emergencies. Refinery capacity expansions, with operable petroleum refineries producing substantial volumes of alkylates (1,368,437 barrels per stream day), aromatics (349,509), and other products as of January 2025, further drive demand. Innovations like Aggreko's February 2024 patented ISO-compliant containerized cooling tower, offering 80% energy savings and 22% reduced footprint, align with emission reduction goals.
Asia-Pacific follows with robust growth from industrialization in Japan, China, and India, supported by local players and infrastructure booms.
Key Developments
In 2025, Johnson Controls partnered as the Building Technology Partner at ACREX India 2025, launching next-generation solutions including the YVAA0459XL Air-Cooled Screw Chiller, YORK VWF (Variable Water Flow) System, and YORK YVAM Magnetic Bearing Chiller (Air-Cooled), emphasizing smart building technologies.
The cooling tower rental market thrives on industrial expansion, data center proliferation, and sustainability mandates, with large-capacity and power generation segments leading growth. North America maintains dominance, while Asia-Pacific accelerates. Innovations in modular, efficient systems will sustain momentum amid environmental challenges.
Key Benefits of this Report:
Insightful Analysis: Gain detailed market insights covering major as well as emerging geographical regions, focusing on customer segments, government policies and socio-economic factors, consumer preferences, industry verticals, and other sub-segments.
Competitive Landscape: Understand the strategic maneuvers employed by key players globally to understand possible market penetration with the correct strategy.
Market Drivers & Future Trends: Explore the dynamic factors and pivotal market trends and how they will shape future market developments.
Actionable Recommendations: Utilize the insights to exercise strategic decisions to uncover new business streams and revenues in a dynamic environment.
Caters to a Wide Audience: Beneficial and cost-effective for startups, research institutions, consultants, SMEs, and large enterprises.
What do businesses use our reports for?
Industry and Market Insights, Opportunity Assessment, Product Demand Forecasting, Market Entry Strategy, Geographical Expansion, Capital Investment Decisions, Regulatory Framework & Implications, New Product Development, Competitive Intelligence
Report Coverage:
Historical data from 2022 to 2024 & forecast data from 2025 to 2030
Growth Opportunities, Challenges, Supply Chain Outlook, Regulatory Framework, and Trend Analysis
Competitive Positioning, Strategies, and Market Share Analysis
Revenue Growth and Forecast Assessment of segments and regions including countries
Company Profiling (Strategies, Products, Financial Information, and Key Developments among others.
Market Segmentation:
By Type
Evaporative Cooling Tower Rental
Fluid Cooler Cooling Tower Rental
By Circuit Type
Closed Circuit
Open Circuit
By Capacity
Up to 300 Tons
300 to 600 Tons
Greater than 600 Tons
By Power Output
Up to 1,000 kW
1,000 to 3,000 kW
Greater than 3,000 kW
By End-User
Chemicals & Petrochemical
Food & Beverage
Construction
Oil & Gas
Energy & Utilities
Others
By Geography
North America
USA
Canada
Mexico
South America
Brazil
Argentina
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Others
Middle East and Africa
Saudi Arabia
UAE
Israel
Others
Asia Pacific
China
India
Japan
South Korea
Indonesia
Thailand
Taiwan
Others
Table of Contents
146 Pages
- 1. EXECUTIVE SUMMARY
- 2. MARKET SNAPSHOT
- 2.1. Market Overview
- 2.2. Market Definition
- 2.3. Scope of the Study
- 2.4. Market Segmentation
- 3. BUSINESS LANDSCAPE
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Porter’s Five Forces Analysis
- 3.5. Industry Value Chain Analysis
- 3.6. Policies and Regulations
- 3.7. Strategic Recommendations
- 4. TECHNOLOGICAL OUTLOOK
- 5. COOLING TOWER RENTAL MARKET BY TYPE
- 5.
- 1. Introduction
- 5.2. Evaporative Cooling Tower Rental
- 5.3. Fluid Cooler Cooling Tower Rental
- 6. COOLING TOWER RENTAL MARKET BY CIRCUIT TYPE
- 6.
- 1. Introduction
- 6.2. Closed Circuit
- 6.3. Open Circuit
- 7. COOLING TOWER RENTAL MARKET BY CAPACITY
- 7.
- 1. Introduction
- 7.2. Up to 300 Tons
- 7.3. 300 to 600 Tons
- 7.4. Greater than 600 Tons
- 8. COOLING TOWER RENTAL MARKET BY POWER OUTPUT
- 8.
- 1. Introduction
- 8.2. Up to 1,000 kW
- 8.3. 1,000 to 3,000 kW
- 8.4. Greater than 3,000 kW
- 9. COOLING TOWER RENTAL MARKET BY END-USER
- 9.
- 1. Introduction
- 9.2. Chemicals & Petrochemical
- 9.3. Food & Beverage
- 9.4. Construction
- 9.5. Oil & Gas
- 9.6. Energy & Utilities
- 9.7. Others
- 10. COOLING TOWER RENTAL MARKET BY GEOGRAPHY
- 10.
- 1. Introduction
- 10.2. North America
- 10.2.1. USA
- 10.2.2. Canada
- 10.2.3. Mexico
- 10.3. South America
- 10.3.1. Brazil
- 10.3.2. Argentina
- 10.3.3. Others
- 10.4. Europe
- 10.4.1. Germany
- 10.4.2. France
- 10.4.3. United Kingdom
- 10.4.4. Italy
- 10.4.5. Spain
- 10.4.6. Others
- 10.5. Middle East and Africa
- 10.5.1. Saudi Arabia
- 10.5.2. UAE
- 10.5.3. Israel
- 10.5.4. Others
- 10.6. Asia Pacific
- 10.6.1. China
- 10.6.2. India
- 10.6.3. Japan
- 10.6.4. South Korea
- 10.6.5. Indonesia
- 10.6.6. Thailand
- 10.6.7. Taiwan
- 10.6.8. Others
- 11. COMPETITIVE ENVIRONMENT AND ANALYSIS
- 11.1. Major Players and Strategy Analysis
- 11.2. Market Share Analysis
- 11.3. Mergers, Acquisitions, Agreements, and Collaborations
- 11.4. Competitive Dashboard
- 12. COMPANY PROFILES
- 12.1. Carrier
- 12.2. Ashtead Group Plc
- 12.3. Finning International Inc
- 12.4. Aggreko (Albion Acquisition Limited)
- 12.5. GOHL-KTK GmbH
- 12.6. United Rentals, Inc
- 12.7. Advance Fluid Technology Company Limited
- 12.8. SPX Cooling Tech LLC
- 12.9. Midwest Cooling Tower Services, LLC
- 12.10. Engie Refrigeration
- 12.11. COFINAIR Group
- 13. APPENDIX
- 13.1. Currency
- 13.2. Assumptions
- 13.3. Base and Forecast Years Timeline
- 13.4. Key benefits for the stakeholders
- 13.5. Research Methodology
- 13.6. Abbreviations
- LIST OF FIGURES
- LIST OF TABLES
Pricing
Currency Rates
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