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Cooling Towers Market Size & Growth Report, 2022-2030

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The global cooling towers market size is expected to be worth around US$ 10.7 billion by 2030, according to a new report by Vision Research Reports.

The global cooling towers market size was valued at US$ 5.53 billion in 2020 and is anticipated to grow at a CAGR of 5.1% during forecast period 2021 to 2030.

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Report Coverage

Report Scope Details
Market Size US$ 10.7 Bn by 2030
Growth Rate CAGR of 5.1% From 2021 to 2030
Base Year 2021
Forecast Period 2021 to 2030
Segments Covered Type, material, application
Regional Scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa
Companies Mentioned SPX Corporation; Babcock & Wilcox Enterprises, Inc; Baltimore Aircoil Company; EVAPCO, Inc.; S.A. Hamon

Growth Factors

Cooling towers are used in power plants, particularly in thermoelectric power plants, to remove excess heat from the plant. With the rising global demand for electricity, the number of power plants is also expected to increase, thereby driving growth of this market.

The growing demand for energy-efficient cooling systems in commercial and industrial applications is anticipated to drive the growth of the market over the forecast period. Cooling towers offer a cost-effective method for cooling large commercial spaces and process cooling applications in various industries and industry verticals, such as oil and gas, chemicals, and food processing.

By Type Analysis

The open-circuit segment accounted for the largest market share of over 40% in 2020. Open-circuit cooling towers have more surface area exposed to the atmosphere to facilitate rapid evaporation and help in achieving a more significant cooling effect.

On the other hand, the hybrid segment is expected to register a CAGR exceeding 5% over the forecast period. Hybrid cooling towers reduce the steam drift and play a vital role in plume abatement.

By Application Analysis

The power generation segment accounted for the largest market share of over 20% in 2020. New power plants are being established all over the world to cater to the rising demand for power in line with rapid industrialization.

Cooling towers also play a vital role in providing optimal cooling for industrial facilities. As such, incumbents of heavy industries, including chemicals, pulp and paper, cement, and oil and gas, are aggressively adopting cooling towers.

By Material Analysis

The high-density polyethylene (HDPE) segment is expected to register the highest CAGR of more than 5% over the forecast period. HDPE cooling towers cost less and offer high resistance to corrosion.

The fiber-reinforced plastic (FRP) segment accounted for the largest market share in 2020. FRP cooling towers offer various benefits, such as high corrosion resistance and the ability to sustain varying environmental conditions.

The steel segment also accounted for a substantial market share in 2020. Steel cooling towers are made up of galvanized and stainless steel and hence offer high structural strength. These towers also offer good conductivity and enable effective cooling, and are hence ideal for large facilities.

By Regional Analysis

Asia Pacific accounted for the largest revenue share of more than 20% in 2020. Continued industrialization and the increasing number of manufacturing facilities in the Asia Pacific are expected to drive the demand for cooling towers in the regional market.

The growth of the Europe market for the cooling tower can be attributed to the growing number of industrial facilities being established by the incumbents of various heavy industries and the stringent regulations being drafted by the governments in the region to reduce carbon emissions.

Key Players

  • SPX Corporation
  • Babcock & Wilcox Enterprises, Inc.
  • Baltimore Aircoil Company
  • EVAPCO, Inc.
  • S.A. Hamon
  • Engie Refrigeration GmbH
  • Paharpur Cooling Towers

Market Segmentation

  • By Type
    • Open-circuit
    • Closed-circuit
    • Hybrid
  • By Material
    • Fiber Reinforced Plastic (FRP)
    • Steel
    • Concrete
    • Wood
    • High-Density Polyethylene (HDPE)
  • By Application
    • HVAC
    • Power Generation
    • Oil & Gas
    • Industrial
  • Regional
    • North America
      • U.S.
      • Canada
    • Europe
      • U.K.
      • Germany
      • France
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa

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Reasons to Purchase this Report:

– Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
– Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
– Market value USD Million and volume Units Million data for each segment and sub-segment
– Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
– Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Table of Contents

Chapter 1.  Introduction

1.1.  Research Objective

1.2.  Scope of the Study

1.3.  Definition

Chapter 2.  Research Methodology

2.1.  Research Approach

2.2.  Data Sources

2.3.  Assumptions & Limitations

Chapter 3.  Executive Summary

3.1.  Market Snapshot

Chapter 4.  Market Variables and Scope

4.1.  Introduction

4.2.  Market Classification and Scope

4.3.  Industry Value Chain Analysis

4.3.1.    Raw Material Procurement Analysis

4.3.2.    Sales and Distribution Channel Analysis

4.3.3.    Downstream Buyer Analysis

Chapter 5.  Market Dynamics Analysis and Trends

5.1.  Market Dynamics

5.1.1.    Market Drivers

5.1.2.    Market Restraints

5.1.3.    Market Opportunities

5.2.  Porter’s Five Forces Analysis

5.2.1.    Bargaining power of suppliers

5.2.2.    Bargaining power of buyers

5.2.3.    Threat of substitute

5.2.4.    Threat of new entrants

5.2.5.    Degree of competition

Chapter 6.  Competitive Landscape

6.1.1.    Company Market Share/Positioning Analysis

6.1.2.    Key Strategies Adopted by Players

6.1.3.    Vendor Landscape

6.1.3.1.        List of Suppliers

6.1.3.2.        List of Buyers

Chapter 7.  Global Cooling Towers Market, By Type

7.1.  Cooling Towers Market, by Type, 2021-2030

7.1.1.    Open-circuit

7.1.1.1.        Market Revenue and Forecast (2017-2030)

7.1.2.    Closed-circuit

7.1.2.1.        Market Revenue and Forecast (2017-2030)

7.1.3.    Hybrid

7.1.3.1.        Market Revenue and Forecast (2017-2030)

Chapter 8.  Global Cooling Towers Market, By Material

8.1.  Cooling Towers Market, by Material, 2021-2030

8.1.1.    Fiber Reinforced Plastic (FRP)

8.1.1.1.        Market Revenue and Forecast (2017-2030)

8.1.2.    Steel

8.1.2.1.        Market Revenue and Forecast (2017-2030)

8.1.3.    Concrete

8.1.3.1.        Market Revenue and Forecast (2017-2030)

8.1.4.    Wood

8.1.4.1.        Market Revenue and Forecast (2017-2030)

8.1.5.    High-Density Polyethylene (HDPE)

8.1.5.1.        Market Revenue and Forecast (2017-2030)

Chapter 9.  Global Cooling Towers Market, By Application

9.1.  Cooling Towers Market, by Application, 2021-2030

9.1.1.    HVAC

9.1.1.1.        Market Revenue and Forecast (2017-2030)

9.1.2.    Power Generation

9.1.2.1.        Market Revenue and Forecast (2017-2030)

9.1.3.    Oil & Gas

9.1.3.1.        Market Revenue and Forecast (2017-2030)

9.1.4.    Industrial

9.1.4.1.        Market Revenue and Forecast (2017-2030)

Chapter 10.      Global Cooling Towers Market, Regional Estimates and Trend Forecast

10.1.        North America

10.1.1.  Market Revenue and Forecast, by Type (2017-2030)

10.1.2.  Market Revenue and Forecast, by Material (2017-2030)

10.1.3.  Market Revenue and Forecast, by Application (2017-2030)

10.1.4.  U.S.

10.1.4.1.      Market Revenue and Forecast, by Type (2017-2030)

10.1.4.2.      Market Revenue and Forecast, by Material (2017-2030)

10.1.4.3.      Market Revenue and Forecast, by Application (2017-2030)

10.1.5.  Rest of North America

10.1.5.1.      Market Revenue and Forecast, by Type (2017-2030)

10.1.5.2.      Market Revenue and Forecast, by Material (2017-2030)

10.1.5.3.      Market Revenue and Forecast, by Application (2017-2030)

10.2.        Europe

10.2.1.  Market Revenue and Forecast, by Type (2017-2030)

10.2.2.  Market Revenue and Forecast, by Material (2017-2030)

10.2.3.  Market Revenue and Forecast, by Application (2017-2030)

10.2.4.  UK

10.2.4.1.      Market Revenue and Forecast, by Type (2017-2030)

10.2.4.2.      Market Revenue and Forecast, by Material (2017-2030)

10.2.4.3.      Market Revenue and Forecast, by Application (2017-2030)

10.2.5.  Germany

10.2.5.1.      Market Revenue and Forecast, by Type (2017-2030)

10.2.5.2.      Market Revenue and Forecast, by Material (2017-2030)

10.2.5.3.      Market Revenue and Forecast, by Application (2017-2030)

10.2.6.  France

10.2.6.1.      Market Revenue and Forecast, by Type (2017-2030)

10.2.6.2.      Market Revenue and Forecast, by Material (2017-2030)

10.2.6.3.      Market Revenue and Forecast, by Application (2017-2030)

10.2.7.  Rest of Europe

10.2.7.1.      Market Revenue and Forecast, by Type (2017-2030)

10.2.7.2.      Market Revenue and Forecast, by Material (2017-2030)

10.2.7.3.      Market Revenue and Forecast, by Application (2017-2030)

10.3.        APAC

10.3.1.  Market Revenue and Forecast, by Type (2017-2030)

10.3.2.  Market Revenue and Forecast, by Material (2017-2030)

10.3.3.  Market Revenue and Forecast, by Application (2017-2030)

10.3.4.  India

10.3.4.1.      Market Revenue and Forecast, by Type (2017-2030)

10.3.4.2.      Market Revenue and Forecast, by Material (2017-2030)

10.3.4.3.      Market Revenue and Forecast, by Application (2017-2030)

10.3.5.  China

10.3.5.1.      Market Revenue and Forecast, by Type (2017-2030)

10.3.5.2.      Market Revenue and Forecast, by Material (2017-2030)

10.3.5.3.      Market Revenue and Forecast, by Application (2017-2030)

10.3.6.  Japan

10.3.6.1.      Market Revenue and Forecast, by Type (2017-2030)

10.3.6.2.      Market Revenue and Forecast, by Material (2017-2030)

10.3.6.3.      Market Revenue and Forecast, by Application (2017-2030)

10.3.7.  Rest of APAC

10.3.7.1.      Market Revenue and Forecast, by Type (2017-2030)

10.3.7.2.      Market Revenue and Forecast, by Material (2017-2030)

10.3.7.3.      Market Revenue and Forecast, by Application (2017-2030)

10.4.        MEA

10.4.1.  Market Revenue and Forecast, by Type (2017-2030)

10.4.2.  Market Revenue and Forecast, by Material (2017-2030)

10.4.3.  Market Revenue and Forecast, by Application (2017-2030)

10.4.4.  GCC

10.4.4.1.      Market Revenue and Forecast, by Type (2017-2030)

10.4.4.2.      Market Revenue and Forecast, by Material (2017-2030)

10.4.4.3.      Market Revenue and Forecast, by Application (2017-2030)

10.4.5.  North Africa

10.4.5.1.      Market Revenue and Forecast, by Type (2017-2030)

10.4.5.2.      Market Revenue and Forecast, by Material (2017-2030)

10.4.5.3.      Market Revenue and Forecast, by Application (2017-2030)

10.4.6.  South Africa

10.4.6.1.      Market Revenue and Forecast, by Type (2017-2030)

10.4.6.2.      Market Revenue and Forecast, by Material (2017-2030)

10.4.6.3.      Market Revenue and Forecast, by Application (2017-2030)

10.4.7.  Rest of MEA

10.4.7.1.      Market Revenue and Forecast, by Type (2017-2030)

10.4.7.2.      Market Revenue and Forecast, by Material (2017-2030)

10.4.7.3.      Market Revenue and Forecast, by Application (2017-2030)

10.5.        Latin America

10.5.1.  Market Revenue and Forecast, by Type (2017-2030)

10.5.2.  Market Revenue and Forecast, by Material (2017-2030)

10.5.3.  Market Revenue and Forecast, by Application (2017-2030)

10.5.4.  Brazil

10.5.4.1.      Market Revenue and Forecast, by Type (2017-2030)

10.5.4.2.      Market Revenue and Forecast, by Material (2017-2030)

10.5.4.3.      Market Revenue and Forecast, by Application (2017-2030)

10.5.5.  Rest of LATAM

10.5.5.1.      Market Revenue and Forecast, by Type (2017-2030)

10.5.5.2.      Market Revenue and Forecast, by Material (2017-2030)

10.5.5.3.      Market Revenue and Forecast, by Application (2017-2030)

Chapter 11.  Company Profiles

11.1.              SPX Corporation

11.1.1.  Company Overview

11.1.2.  Product Offerings

11.1.3.  Financial Performance

11.1.4.  Recent Initiatives

11.2.              Babcock & Wilcox Enterprises, Inc.

11.2.1.  Company Overview

11.2.2.  Product Offerings

11.2.3.  Financial Performance

11.2.4.  Recent Initiatives

11.3.              Baltimore Aircoil Company

11.3.1.  Company Overview

11.3.2.  Product Offerings

11.3.3.  Financial Performance

11.3.4.  Recent Initiatives

11.4.              EVAPCO, Inc.

11.4.1.  Company Overview

11.4.2.  Product Offerings

11.4.3.  Financial Performance

11.4.4.  Recent Initiatives

11.5.              S.A. Hamon

11.5.1.  Company Overview

11.5.2.  Product Offerings

11.5.3.  Financial Performance

11.5.4.  Recent Initiatives

11.6.              Engie Refrigeration GmbH

11.6.1.  Company Overview

11.6.2.  Product Offerings

11.6.3.  Financial Performance

11.6.4.  Recent Initiatives

11.7.              Paharpur Cooling Towers

11.7.1.  Company Overview

11.7.2.  Product Offerings

11.7.3.  Financial Performance

11.7.4.  Recent Initiatives

Chapter 12.  Research Methodology

12.1.              Primary Research

12.2.              Secondary Research

12.3.              Assumptions

Chapter 13.  Appendix

13.1.              About Us

13.2.              Glossary of Terms

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