Global Evaporative Cooling Market - Segmented by Type of Cooling, Application (Residential, Commercial, Industrial), Distribution Channel (Big Box Retailers, HVAC Contractors and Distributors), and Region- Growth, Trends and Forecast (2018 - 2023)
The evaporative cooling market was valued at USD 5.47 billion in 2017 and is projected to reach USD 7.41 billion by the end of 2023, growing at a CAGR of 5.1% over the forecast period of 2018-2023. The scope of the report is limited to the types of cooling, application, and distribution channel. The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, and Rest of the World.
Evaporative cooling enables firms to gain cooling benefits without having an adverse effect on the environment. Low maintenance cost and cost-effective cooling solutions are driving the growth of the evaporative cooling market.
Direct Evaporative Cooling
Direct evaporative cooling is considered the most common form of evaporative cooling, and is generally considered as the older technology. The major applications of direct evaporative cooling are in residential sectors, commercial kitchens, and warehouses or where comfort requirements are more relaxed. Hence, the type of system requirements depends majorly on the end user and specified operational performance requirements. Residential evaporative coolers are majorly of the direct type; however, some indirect systems are also used. Direct evaporative air coolers are the simplest, oldest, and most widely used type of evaporative air coolers. There is a use of a fan to draw air over the wetted pads and delivers the cooled air into the conditioned space either directly or via an air distribution system. Warm dry air is converted to cool moist air as the heat in the air causes the water to evaporate. It is considered that the direct evaporative coolants are expected to hold a small niche market majorly in desert climates, where noon relative humidity during July is higher than 40%. Low product quality, comfort, shorter equipment life, and higher maintenance requirement perceptions are expected to inhibit the market growth.
Some of the regions in the country where evaporative cooling is poised to have huge growth are Western Texas, South Western areas in California, Nevada, New Mexico, and Arizona. These states typically have a hot and dry climate and are perfect for evaporative coolers. States like Wyoming, Utah, Washington, Montana, Oregon, and Idaho have a semi-arid climate, with temperature going above 80 degrees and are thus, ideal for evaporative coolers. States like Illinois, Pennsylvania, Kentucky, West Virginia, and Delaware have a humid climate, causing evaporative coolers to work inefficiently, which impedes the market growth in these areas. In addition, states like Florida and North Carolina have humid climatic conditions with moisture in the atmosphere, making evaporative coolers ineffective. The main driver for the evaporative coolers market in the United States is their adoption in data centers.
Key Developments in the Market
- February 2018- SPX Cooling Technologies, Inc. revealed its latest innovations in cooling towers and components at the International Air-Conditioning, Heating, Refrigeration Exposition (AHR Expo), at McCormick Place in Chicago. The new product offers over 85% more cooling capacity compared to other preassembled counterflow towers.
- May 2017- Condair introduced a range of advanced commercial and industrial dehumidifiers. These dehumidifiers use a silica-coated sorption rotor to absorb moisture from the air. This type of technology is ideal for low temperature conditions or applications that require very dry air.
Major Players - Delta Cooling Towers Inc., Condair Group Ag, Spx Cooling Technologies, Baltimore Aircoil Company, Munters Corporation, Colt Group, Phoenix Manufacturing Inc., Bonaire Group (Celi Group), Enexio Water Technologies Gmbh, CFW Evapcool, and Celsius Design Limited, among others.
Reasons to Purchase the Report
- Current and future evaporative cooling market analysis in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
Customization of the Report
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