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Cooling Tower Market by Type (Evaporative, Dry, Hybrid), Design (Natural, Mechanical), Construction Material (Concrete, Steel, FRP, Wood), Flow Type, Technology, Application (Power Generation, HVACR, Food & Beverage), & Region - Forecast to 2029

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    Report

  • 261 Pages
  • July 2024
  • Region: Global
  • Markets and Markets
  • ID: 3625236
Description Jump to:
The cooling tower market size is projected to grow from USD 3 billion in 2024 to USD 3.9 billion by 2029, registering a CAGR of 5.3% during the forecast period. The global cooling tower market is witnessing growth due to the rising investment in industrial facilities and the need for advanced cooling systems to enhance operational efficiency. Increased focus on reducing industrial carbon footprints is pushing the adoption of eco-friendly cooling towers. Additionally, the development of smart cities and modern infrastructure demands reliable and sophisticated cooling solutions.

Dry is projected to be the second fastest growing segment by type in terms of value.

Dry is projected to be the second fastest growing segment in the cooling tower market due to several factors. As industries face increasing pressure to adopt sustainable practices, dry cooling towers offer a compelling solution by eliminating the need for water evaporation in the cooling process. Furthermore, advancements in dry cooling technology, such as enhanced heat transfer capabilities and improved system efficiency, are driving their adoption across a wide range of applications, including power generation, petrochemicals, and data centers.

Mechanical draft to be the fastest growing segment by design in terms of value.

Mechanical design cooling towers are poised for rapid growth in the global market due to their robust construction and ability to provide efficient cooling in diverse applications. Their flexible design allows for customization to meet specific cooling requirements, making them attractive to industries seeking tailored solutions. Furthermore, innovations in fan technology and control systems are enhancing the performance and reliability of mechanical cooling towers, driving their adoption in critical sectors such as data centers, petrochemicals, and food processing.

HVACR accounted for the second largest share in the application segment of cooling tower market in terms of value.

With the HVACR sector being indispensable for maintaining comfortable indoor environments and preserving perishable goods, cooling towers play a crucial role in regulating temperatures and ensuring optimal system performance. Whether in commercial buildings, industrial facilities, or residential complexes, HVACR systems rely on efficient cooling solutions to manage heat generated by air conditioning units and refrigeration systems. As urbanization and infrastructure development accelerate globally, the demand for HVACR solutions, and consequently cooling towers, continues to rise, solidifying its significant contribution to the overall cooling tower market.

Europe is the third-largest market for cooling tower.

Europe holds a significant position as the third-largest region in the global cooling tower market, driven by its unique blend of industrial innovation and environmental consciousness. With a diverse range of sectors, from technology to agriculture, Europe's demand for cooling towers reflects a commitment to enhancing operational efficiency and minimizing environmental impact. Moreover, the region's emphasis on precision engineering and cutting-edge technology fosters a culture of continuous improvement, driving the adoption of advanced cooling solutions. Additionally, Europe's strategic geographical location and interconnected markets facilitate collaboration and knowledge exchange, further propelling the growth of the cooling tower market in the region.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the cooling tower market, and information was gathered from secondary research to determine and verify the market size of several segments.
  • By Company Type: Tier 1 - 40%, Tier 2 - 30%, and Tier 3 - 30%
  • By Designation: C Level Executives - 20%, Directors - 10%, and Others - 70%
  • By Region: North America - 20%, Europe - 20%, APAC - 40%, South America - 10%, and the Middle East & Africa - 10%
The cooling tower market comprises major players such as Baltimore Aircoil Company Inc. (US), John Cockerill (Belgium), SPX Technologies (US), Ebara Corporation (Japan), Evapco, Inc. (US), Krones AG (Germany), Babcock & Wilcox Enterprises Inc. (US), Seagull Cooling Tower Co., Ltd (Malaysia), Enexio (Germany), and Paharpur Cooling Tower Limited (India). The study includes in-depth competitive analysis of these key players in the cooling tower market, with their company profiles, recent developments, and key market strategies.

Research Coverage

This report segments the market for cooling tower market on the basis of type, design, construction material, flow type, technology, application, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products & services, key strategies, new product launches, expansions, and mergers & acquisition associated with the market for cooling tower market.

Key benefits of buying this report

This research report is focused on various levels of analysis - industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view on the competitive landscape; emerging and high-growth segments of the cooling tower market; high-growth regions; and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Market Penetration: Comprehensive information on the cooling tower market offered by top players in the global cooling tower market.
  • Analysis of drivers: (Growing Interest from Developing Markets in the Asia-Pacific Region, Heightened Demand for Cooling Towers Driven by Stringent Environmental Regulations, Increase in HVACR Installations and Expansion of Industrial Operations, and Advancements Redefining the Cooling Tower Industry), restraints (Moderate Expansion in Europe and North America), opportunities (Increasing Demand from the Nuclear Power Generation Industry, and challenges (High Water Consumption Requirements, Frequent Corrosion Reducing System Performance)
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the cooling tower market.
  • Market Development: Comprehensive information about lucrative emerging markets - the report analyzes the markets for cooling tower market across regions.
  • Market Capacity: Production capacities of companies producing cooling tower are provided wherever available with upcoming capacities for the cooling tower market.
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the cooling tower market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Cooling Tower Market Segmentation
1.3.2 Inclusions and Exclusions
Table 1 Cooling Tower Market: Inclusions and Exclusions
1.3.3 Regional Scope
1.3.4 Years Considered
1.4 Currency Considered
1.5 Units Considered
1.6 Stakeholders
1.7 Summary of Changes
2 Research Methodology
2.1 Research Data
Figure 2 Cooling Tower Market: Research Design
2.1.1 Secondary Data
2.1.1.1 List of Major Secondary Sources
2.1.1.2 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
Figure 3 Market Size Estimation Approach: Demand Side
2.2.1 Bottom-Up Approach
Figure 4 Market Size Estimation: Bottom-Up Approach
2.2.2 Top-Down Approach
Figure 5 Market Size Estimation: Top-Down Approach
2.3 Data Triangulation
Figure 6 Data Triangulation
2.4 Research Assumptions
2.5 Forecast
2.5.1 Supply-Side Analysis
2.5.2 Demand-Side Analysis
2.6 Research Limitations
2.7 Risk Assessment
3 Executive Summary
Figure 7 Counterflow Segment to Account for Larger Market Share in 2029
Figure 8 Steel Segment to Account for Largest Market Share in 2029
Figure 9 Power Generation Segment to Dominate Market Between 2024 and 2029
Figure 10 Asia-Pacific Led Cooling Tower Market in 2023
4 Premium Insights
4.1 Attractive Opportunities for Players in Cooling Tower Market
Figure 11 Rising Demand for Cooling Towers from Various Industries in Emerging Economies to Drive Market
4.2 Cooling Tower Market, by Design
Figure 12 Mechanical Draft Segment to Account for Larger Share of Cooling Tower Market in 2029
4.3 Cooling Tower Market, by Type
Figure 13 Evaporative Segment to Account for Largest Share of Cooling Tower Market in 2029
4.4 Cooling Tower Market, by Application and Region, 2023
Figure 14 Power Generation Segment and Asia-Pacific Accounted for Largest Shares of Cooling Tower Market in 2023
4.5 Cooling Tower Market, by Country
Figure 15 India to be Fastest-Growing Cooling Tower Market During Forecast Period
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 16 Cooling Tower Market: Drivers, Restraints, Opportunities, and Challenges
5.2.1 Drivers
5.2.1.1 Increased Demand for Cooling Towers in Developing Economies of Asia-Pacific
5.2.1.2 Implementation of Stringent Government-Led Environmental Regulations
5.2.1.3 Rise in Heating, Ventilation, Air Conditioning, and Refrigeration (Hvar) System Installations and Industrial Operations
5.2.1.4 Advancements in Cooling Towers
5.2.2 Restraints
5.2.2.1 Moderate Demand for Cooling Towers in Europe and North America
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Cooling Towers in Nuclear Industry
Table 2 Nuclear Energy Consumption, by Region, 2018-2022 (Exajoules)
5.2.4 Challenges
5.2.4.1 High Water Consumption for Cooling
5.2.4.2 Decline in System Performance Attributed to Frequent Corrosion
5.3 Porter's Five Forces Analysis
Figure 17 Cooling Tower Market: Porter's Five Forces Analysis
Table 3 Cooling Tower Market: Porter's Five Forces Analysis
5.3.1 Bargaining Power of Suppliers
5.3.2 Bargaining Power of Buyers
5.3.3 Threat of Substitutes
5.3.4 Threat of New Entrants
5.3.5 Intensity of Competitive Rivalry
5.4 Key Stakeholders and Buying Criteria
5.4.1 Key Stakeholders in Buying Process
Figure 18 Influence of Stakeholders on Buying Process, by Application
Table 4 Influence of Stakeholders on Buying Process, by Application (%)
5.4.2 Buying Criteria
Figure 19 Key Buying Criteria, by Application
Table 5 Key Buying Criteria, by Application
5.5 Macroeconomic Indicators
5.5.1 Global GDP Trends
Table 6 Projected Real GDP Growth (Annual Percent Change) of Key Countries, 2021-2029
5.6 Value Chain Analysis
Figure 20 Cooling Tower Market: Value Chain Analysis
5.7 Ecosystem Analysis
Figure 21 Cooling Tower Market: Ecosystem Analysis
Table 7 Roles of Companies in Cooling Tower Ecosystem
5.8 Case Study Analysis
5.8.1 Baltimore Aircoil Company, Inc.'s “Cs Replacement Fill 20211215” Guide Helps Customers Replace Cooling Tower Fills by Providing Detailed Instructions and Recommendations
5.8.2 Paharpur Cooling Towers Ltd. Installs Greenpro-Certified Low-Approach Cooling Towers at Taj Palace and Taj Exotica to Lower Energy Consumption
5.8.3 Realiteq Provides Communication, Integration, and Operating Screens for Remote Monitoring and Control Systems
5.9 Regulatory Landscape
5.9.1 Regulatory Bodies, Government Bodies, and Other Organizations
Table 8 Asia-Pacific: Regulatory Bodies, Government Agencies, and Other Organizations
Table 9 Europe: Regulatory Bodies, Government Agencies, and Other Organizations
Table 10 North America: Regulatory Bodies, Government Agencies, and Other Organizations
5.9.2 Regulations
5.9.2.1 Asia-Pacific
5.9.2.2 Europe
5.9.2.3 North America
5.10 Technology Analysis
5.10.1 Key Technology
5.10.1.1 Modular Cooling Tower
5.10.2 Complementary Technology
5.10.2.1 Hdpe Cooling Technology
5.10.3 Adjacent Technology
5.10.3.1 Renewable Energy Integration
5.11 Trends/Disruptions Impacting Customers’ Businesses
Figure 22 Trends/Disruptions Impacting Customers’ Businesses
5.12 Trade Analysis
5.12.1 Steel
5.12.1.1 Import Scenario (HS Code 732690)
Table 11 Import Data Related to HS Code 732690-Compliant Products for Top Countries, 2019-2023 (USD Thousand)
5.12.1.2 Export Scenario (HS Code 732690)
Table 12 Export Data Related to HS Code 732690-Compliant Products for Top Countries, 2019-2023 (USD Thousand)
5.12.2 Polyvinyl Chloride (PVC)
5.12.2.1 Import Scenario (HS Code 390410)
Table 13 Import Data Related to HS Code 390410-Compliant Products for Top Countries, 2019-2023 (USD Thousand)
5.12.2.2 Export Scenario (HS Code 390410)
Table 14 Export Data Related to HS Code 390410-Compliant Products for Top Countries, 2019-2023 (USD Thousand)
5.13 Key Conferences and Events, 2024-2025
Table 15 Cooling Tower Market: Key Conferences and Events, 2024-2025
5.14 Pricing Analysis
5.14.1 Average Selling Price (ASP) Trend of Key Players, by Design
Table 16 Average Selling Price (ASP) Trend of Cooling Towers Offered by Key Players, by Design (USD/Unit)
5.14.2 Average Selling Price (ASP) Trend of Key Players, by Type
Table 17 Average Selling Price (ASP) Trend of Cooling Towers Offered by Key Players, by Type (USD/Unit)
5.14.3 Average Selling Price (ASP) Trend of Key Players, by Application
Table 18 Average Selling Price (ASP) Trend of Cooling Towers Offered by Key Players, by Application (USD/Unit)
5.14.4 Average Selling Price (ASP) Trend, by Region
Figure 23 Average Selling Price (ASP) Trend of Cooling Towers, by Region, 2022, 2023, 2026, and 2029 (USD/Unit)
5.15 Investment and Funding Scenario
Figure 24 Investment and Funding Scenario, 2019-2023 (USD Million)
5.16 Impact of Generative AI and AI on Cooling Tower Market
5.16.1 Adoption of Generative AI for Thermal Management in Top Countries
Figure 25 Generative AI Adoption for Thermal Management in Top Countries
5.16.2 Impact of AI on Cooling Tower Market
Figure 26 Impact of AI on Cooling Tower Market
5.17 Patent Analysis
5.17.1 Introduction
5.17.2 Methodology
5.17.3 Patent Type
Figure 27 Limited Patents Accounted for Significant Share of Total Patents Related to Cooling Towers, 2013-2023
5.17.4 Publication Trends
Figure 28 Number of Patents Granted Per Year, 2013-2023
5.17.5 Insights
5.17.6 Jurisdiction Analysis
Figure 29 Jurisdiction Analysis
5.17.7 Top 10 Companies
Figure 30 Applicant Analysis, 2013-2023
Table 19 Patents by Cnpc
Table 20 Patents by Xi’An Thermal Power Research Institute Co. Ltd.
Table 21 Patents by Shandong Lanxiang Environmental Technology Co. Ltd.
Table 22 Top 10 Patent Owners in Last 10 Years
6 Cooling Tower Market, by Flow Type
6.1 Introduction
Figure 31 Counterflow Segment to Hold Larger Market Share in 2024
Table 23 Cooling Tower Market, by Flow Type, 2021-2023 (USD Million)
Table 24 Cooling Tower Market, by Flow Type, 2024-2029 (USD Million)
6.2 Counterflow
6.2.1 Requirement for Less Space due to Vertical Tower Construction to Drive Demand
6.2.1.1 Key Advantages of Counterflow Cooling Towers
6.3 Crossflow
6.3.1 Easy Cleaning and Operating Features to Fuel Demand
7 Cooling Tower Market, by Technology
7.1 Introduction
Figure 32 Open Circuit Segment to Hold Largest Market Share in 2024
Table 25 Cooling Tower Market, by Technology, 2021-2023 (USD Million)
Table 26 Cooling Tower Market, by Technology, 2024-2029 (USD Million)
7.2 Open Circuit
7.2.1 Growing Use in Civil and Industrial Applications to Drive Market
7.3 Close Circuit
7.3.1 High Use in Food & Beverages Industry to Fuel Market Growth
7.4 Hybrid Circuit
7.4.1 Low Energy Consumption and Maintenance Costs to Drive Demand
8 Cooling Tower Market, by Construction Material
8.1 Introduction
Figure 33 Steel Segment to Hold Largest Market Share in 2024
Table 27 Cooling Tower Market, by Construction Material, 2021-2023 (USD Million)
Table 28 Cooling Tower Market, by Construction Material, 2024-2029 (USD Million)
8.2 Concrete
8.2.1 Rising Demand in Power Generation, Petrochemicals, and Chemicals Industries to Propel Market
8.3 Fiber-Reinforced Plastic (FRP)
8.3.1 Lightweight, High Strength, Flexibility, and Chemical Resistance Properties to Drive Demand
8.4 Wood
8.4.1 Significant Use to Construct Mechanical and Natural Draft Cooling Towers to Drive Market
8.5 Steel
8.5.1 High Use of Steel in Manufacturing of Cooling Towers to Drive Market
9 Cooling Tower Market, by Design
9.1 Introduction
Figure 34 Mechanical Draft Segment to Hold Larger Market Share in 2024
Table 29 Cooling Tower Market, by Design, 2021-2023 (USD Million)
Table 30 Cooling Tower Market, by Design, 2024-2029 (USD Million)
9.2 Mechanical Draft
9.2.1 Higher Efficiency Than Natural Draft Cooling Towers to Drive Demand
9.3 Natural Draft
9.3.1 Low Maintenance Costs and Power-Saving Features to Fuel Demand
10 Cooling Tower Market, by Type
10.1 Introduction
Figure 35 Evaporative Segment to Hold Largest Market Share in 2024
Table 31 Cooling Tower Market, by Type, 2021-2023 (USD Million)
Table 32 Cooling Tower Market, by Type, 2024-2029 (USD Million)
10.2 Evaporative
10.2.1 Rapid Industrialization and Rising Installation of Direct and Indirect Evaporative Cooling Systems to Drive Market
10.3 Dry
10.3.1 High Demand for Dry Cooling Towers in HVACr and Food & Beverage Industries to Fuel Market Growth
10.4 Hybrid
10.4.1 Growing Need for Hybrid Cooling Towers in Power Generation Applications to Propel Market
11 Cooling Tower Market, by Application
11.1 Introduction
Figure 36 Power Generation Segment to Hold Largest Market Share in 2024
Table 33 Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 34 Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 35 Cooling Tower Market, by Application, 2021-2023 (Units)
Table 36 Cooling Tower Market, by Application, 2024-2029 (Units)
11.2 Power Generation
11.2.1 High Adoption of Cooling Towers in Power Industry to Drive Market
11.2.1.1 Thermal Power Plants
11.2.1.2 Nuclear Power Plants
11.2.1.3 Other Power Generation Applications
11.3 HVACr
11.3.1 Growing Deployment of HVACr Systems in Commercial Buildings to Fuel Demand
11.3.1.1 District Cooling
11.3.1.2 Data Centers
11.3.1.3 Other HVACr Applications
11.4 Food & Beverage
11.4.1 Increasing Installation of Cooling Towers to Prevent Overheating and Maintain Hygiene to Drive Market
11.4.1.1 Dairy
11.4.1.2 Distilleries/Breweries
11.4.1.3 Other Food & Beverage Applications
11.5 Chemical
11.5.1 Rising Deployment of Cooling Towers to Control Excess Heat and Maintain Desired Temperature Inside Plants to Fuel Market Growth
11.5.1.1 Fertilizer Manufacturing
11.5.1.2 Pharmaceutical Manufacturing
11.5.1.3 Other Chemical Applications
11.6 Petrochemical and Oil & Gas
11.6.1 Increasing Requirement for Large Cooling Systems to Drive Demand
11.7 Others
11.7.1 Paper & Pulp Mills
11.7.2 Marine Industry
11.7.3 Iron Foundries
12 Cooling Tower Market, by Region
12.1 Introduction
Figure 37 India to Register Highest CAGR in Cooling Tower Market During Forecast Period
Table 37 Cooling Tower Market, by Region, 2021-2023 (USD Million)
Table 38 Cooling Tower Market, by Region, 2024-2029 (USD Million)
Table 39 Cooling Tower Market, by Region, 2021-2023 (Units)
Table 40 Cooling Tower Market, by Region, 2024-2029 (Units)
12.2 Asia-Pacific
12.2.1 Growth of Asia-Pacific Market
Figure 38 Asia-Pacific: Cooling Tower Market Snapshot
Table 41 Asia-Pacific: Cooling Tower Market, by Country, 2021-2023 (USD Million)
Table 42 Asia-Pacific: Cooling Tower Market, by Country, 2024-2029 (USD Million)
Table 43 Asia-Pacific: Cooling Tower Market, by Country, 2021-2023 (Units)
Table 44 Asia-Pacific: Cooling Tower Market, by Country, 2024-2029 (Units)
Table 45 Asia-Pacific: Cooling Tower Market, by Flow Type, 2021-2023 (USD Million)
Table 46 Asia-Pacific: Cooling Tower Market, by Flow Type, 2024-2029 (USD Million)
Table 47 Asia-Pacific: Cooling Tower Market, by Technology, 2021-2023 (USD Million)
Table 48 Asia-Pacific: Cooling Tower Market, by Technology, 2024-2029 (USD Million)
Table 49 Asia-Pacific: Cooling Tower Market, by Design, 2021-2023 (USD Million)
Table 50 Asia-Pacific: Cooling Tower Market, by Design, 2024-2029 (USD Million)
Table 51 Asia-Pacific: Cooling Tower Market, by Type, 2021-2023 (USD Million)
Table 52 Asia-Pacific: Cooling Tower Market, by Type, 2024-2029 (USD Million)
Table 53 Asia-Pacific: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 54 Asia-Pacific: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 55 Asia-Pacific: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 56 Asia-Pacific: Cooling Tower Market, by Application, 2024-2029 (Units)
12.2.2 China
12.2.2.1 Shift in Power Generation Source from Coal to Natural Gas and Nuclear Energy to Drive Market
Table 57 China: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 58 China: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 59 China: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 60 China: Cooling Tower Market, by Application, 2024-2029 (Units)
12.2.3 India
12.2.3.1 Rising Foreign Investments and Industrial Growth to Drive Market
Table 61 India: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 62 India: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 63 India: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 64 India: Cooling Tower Market, by Application, 2024-2029 (Units)
12.2.4 Japan
12.2.4.1 Promotion of Cooling Towers by Cooling Tower Institute to Drive Market
Table 65 Japan: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 66 Japan: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 67 Japan: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 68 Japan: Cooling Tower Market, by Application, 2024-2029 (Units)
12.2.5 South Korea
12.2.5.1 Rising Investments in Energy Sources to Propel Market
Table 69 South Korea: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 70 South Korea: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 71 South Korea: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 72 South Korea: Cooling Tower Market, by Application, 2024-2029 (Units)
12.2.6 Australia
12.2.6.1 Increasing Demand for Cooling Solutions from Infrastructure Development Projects to Fuel Market Growth
Table 73 Australia: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 74 Australia: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 75 Australia: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 76 Australia: Cooling Tower Market, by Application, 2024-2029 (Units)
12.2.7 Rest of Asia-Pacific
Table 77 Rest of Asia-Pacific: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 78 Rest of Asia-Pacific: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 79 Rest of Asia-Pacific: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 80 Rest of Asia-Pacific: Cooling Tower Market, by Application, 2024-2029 (Units)
12.3 Europe
Figure 39 Europe: Cooling Tower Market Snapshot
Table 81 Europe: Cooling Tower Market, by Country, 2021-2023 (USD Million)
Table 82 Europe: Cooling Tower Market, by Country, 2024-2029 (USD Million)
Table 83 Europe: Cooling Tower Market, by Country, 2021-2023 (Units)
Table 84 Europe: Cooling Tower Market, by Country, 2024-2029 (Units)
Table 85 Europe: Cooling Tower Market, by Flow Type, 2021-2023 (USD Million)
Table 86 Europe: Cooling Tower Market, by Flow Type, 2024-2029 (USD Million)
Table 87 Europe: Cooling Tower Market, by Technology, 2021-2023 (USD Million)
Table 88 Europe: Cooling Tower Market, by Technology, 2024-2029 (USD Million)
Table 89 Europe: Cooling Tower Market, by Design, 2021-2023 (USD Million)
Table 90 Europe: Cooling Tower Market, by Design, 2024-2029 (USD Million)
Table 91 Europe: Cooling Tower Market, by Type, 2021-2023 (USD Million)
Table 92 Europe: Cooling Tower Market, by Type, 2024-2029 (USD Million)
Table 93 Europe: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 94 Europe: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 95 Europe: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 96 Europe: Cooling Tower Market, by Application, 2024-2029 (Units)
12.3.1 Germany
12.3.1.1 Expanding Petrochemicals and Chemicals Industries to Drive Market
Table 97 Germany: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 98 Germany: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 99 Germany: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 100 Germany: Cooling Tower Market, by Application, 2024-2029 (Units)
12.3.2 Italy
12.3.2.1 Increasing Demand in Chemicals Industry to Propel Market
Table 101 Italy: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 102 Italy: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 103 Italy: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 104 Italy: Cooling Tower Market, by Application, 2024-2029 (Units)
12.3.3 France
12.3.3.1 Shift Toward Renewable Energy Production to Boost Market Growth
Table 105 France: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 106 France: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 107 France: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 108 France: Cooling Tower Market, by Application, 2024-2029 (Units)
12.3.4 Spain
12.3.4.1 Increasing Deployment in Oil Refineries to Fuel Market Growth
Table 109 Spain: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 110 Spain: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 111 Spain: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 112 Spain: Cooling Tower Market, by Application, 2024-2029 (Units)
12.3.5 UK
12.3.5.1 Shift Toward Renewable Power Generation to Drive Demand
Table 113 UK: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 114 UK: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 115 UK: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 116 UK Cooling Tower Market, by Application, 2024-2029 (Units)
12.3.6 Russia
12.3.6.1 Expansion of Oil Refineries to Drive Market
Table 117 Russia: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 118 Russia: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 119 Russia: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 120 Russia: Cooling Tower Market, by Application, 2024-2029 (Units)
12.3.7 Rest of Europe
Table 121 Rest of Europe: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 122 Rest of Europe: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 123 Rest of Europe: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 124 Rest of Europe: Cooling Tower Market, by Application, 2024-2029 (Units)
12.4 North America
Figure 40 North America: Cooling Tower Market Snapshot
Table 125 North America: Cooling Tower Market, by Country, 2021-2023 (USD Million)
Table 126 North America: Cooling Tower Market, by Country, 2024-2029 (USD Million)
Table 127 North America: Cooling Tower Market, by Country, 2021-2023 (Units)
Table 128 North America: Cooling Tower Market, by Country, 2024-2029 (Units)
Table 129 North America: Cooling Tower Market, by Flow Type, 2021-2023 (USD Million)
Table 130 North America: Cooling Tower Market, by Flow Type, 2024-2029 (USD Million)
Table 131 North America: Cooling Tower Market, by Technology, 2021-2023 (USD Million)
Table 132 North America: Cooling Tower Market, by Technology, 2024-2029 (USD Million)
Table 133 North America: Cooling Tower Market, by Design, 2021-2023 (USD Million)
Table 134 North America: Cooling Tower Market, by Design, 2024-2029 (USD Million)
Table 135 North America: Cooling Tower Market, by Type, 2021-2023 (USD Million)
Table 136 North America: Cooling Tower Market, by Type, 2024-2029 (USD Million)
Table 137 North America: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 138 North America: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 139 North America: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 140 North America: Cooling Tower Market, by Application, 2024-2029 (Units)
12.4.1 US
12.4.1.1 Presence of Large Number of Power Plants and Oil Refineries to Propel Market
Table 141 US: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 142 US: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 143 US: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 144 US: Cooling Tower Market, by Application, 2024-2029 (Units)
12.4.2 Canada
12.4.2.1 Increasing Demand for Cooling Towers in Various Industries to Contribute to Market Growth
Table 145 Canada: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 146 Canada: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 147 Canada: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 148 Canada: Cooling Tower Market, by Application, 2024-2029 (Units)
12.4.3 Mexico
12.4.3.1 Growing Oil & Gas Industry to Drive Market
Table 149 Mexico: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 150 Mexico: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 151 Mexico: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 152 Mexico: Cooling Tower Market, by Application, 2024-2029 (Units)
12.5 Middle East & Africa
Table 153 Middle East & Africa: Cooling Tower Market, by Country, 2021-2023 (USD Million)
Table 154 Middle East & Africa: Cooling Tower Market, by Country, 2024-2029 (USD Million)
Table 155 Middle East & Africa: Cooling Tower Market, by Country, 2021-2023 (Units)
Table 156 Middle East & Africa: Cooling Tower Market, by Country, 2024-2029 (Units)
Table 157 Middle East & Africa: Cooling Tower Market, by Flow Type, 2021-2023 (USD Million)
Table 158 Middle East & Africa: Cooling Tower Market, by Flow Type, 2024-2029 (USD Million)
Table 159 Middle East & Africa: Cooling Tower Market, by Technology, 2021-2023 (USD Million)
Table 160 Middle East & Africa: Cooling Tower Market, by Technology, 2024-2029 (USD Million)
Table 161 Middle East & Africa: Cooling Tower Market, by Design, 2021-2023 (USD Million)
Table 162 Middle East & Africa: Cooling Tower Market, by Design, 2024-2029 (USD Million)
Table 163 Middle East & Africa: Cooling Tower Market, by Type, 2021-2023 (USD Million)
Table 164 Middle East & Africa: Cooling Tower Market, by Type, 2024-2029 (USD Million)
Table 165 Middle East & Africa: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 166 Middle East & Africa: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 167 Middle East & Africa: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 168 Middle East & Africa: Cooling Tower Market, by Application, 2024-2029 (Units)
12.5.1 GCC
12.5.1.1 Saudi Arabia
12.5.1.1.1 Expanding Petrochemical Industry and Humid Conditions to Drive Demand
Table 169 Saudi Arabia: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 170 Saudi Arabia: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 171 Saudi Arabia: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 172 Saudi Arabia: Cooling Tower Market, by Application, 2024-2029 (Units)
12.5.1.2 UAE
12.5.1.2.1 Increasing Natural Gas Production to Drive Market
Table 173 UAE: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 174 UAE: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 175 UAE: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 176 UAE: Cooling Tower Market, by Application, 2024-2029 (Units)
12.5.1.3 Rest of GCC
Table 177 Rest of GCC: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 178 Rest of GCC: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 179 Rest of GCC: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 180 Rest of GCC: Cooling Tower Market, by Application, 2024-2029 (Units)
12.5.2 South Africa
12.5.2.1 Notable Increase in Energy Demand to Create Growth Opportunities for Market Players
Table 181 South Africa: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 182 South Africa: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 183 South Africa: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 184 South Africa: Cooling Tower Market, by Application, 2024-2029 (Units)
12.5.3 Rest of Middle East & Africa
Table 185 Rest of Middle East & Africa: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 186 Rest of Middle East & Africa: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 187 Rest of Middle East & Africa: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 188 Rest of Middle East & Africa: Cooling Tower Market, by Application, 2024-2029 (Units)
12.6 South America
Table 189 South America: Cooling Tower Market, by Country, 2021-2023 (USD Million)
Table 190 South America: Cooling Tower Market, by Country, 2024-2029 (USD Million)
Table 191 South America: Cooling Tower Market, by Country, 2021-2023 (Units)
Table 192 South America: Cooling Tower Market, by Country, 2024-2029 (Units)
Table 193 South America: Cooling Tower Market, by Flow Type, 2021-2023 (USD Million)
Table 194 South America: Cooling Tower Market, by Flow Type, 2024-2029 (USD Million)
Table 195 South America: Cooling Tower Market, by Technology, 2021-2023 (USD Million)
Table 196 South America: Cooling Tower Market, by Technology, 2024-2029 (USD Million)
Table 197 South America: Cooling Tower Market, by Design, 2021-2023 (USD Million)
Table 198 South America: Cooling Tower Market, by Design, 2024-2029 (USD Million)
Table 199 South America: Cooling Tower Market, by Type, 2021-2023 (USD Million)
Table 200 South America: Cooling Tower Market, by Type, 2024-2029 (USD Million)
Table 201 South America: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 202 South America: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 203 South America: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 204 South America: Cooling Tower Market, by Application, 2024-2029 (Units)
12.6.1 Brazil
12.6.1.1 Rapid Growth in Electricity Generation and Oil & Gas Production to Drive Market
Table 205 Brazil: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 206 Brazil: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 207 Brazil: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 208 Brazil: Cooling Tower Market, by Application, 2024-2029 (Units)
12.6.2 Argentina
12.6.2.1 Increasing Electricity Demand to Propel Market
Table 209 Argentina: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 210 Argentina: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 211 Argentina: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 212 Argentina: Cooling Tower Market, by Application, 2024-2029 (Units)
12.6.3 Rest of South America
Table 213 Rest of South America: Cooling Tower Market, by Application, 2021-2023 (USD Million)
Table 214 Rest of South America: Cooling Tower Market, by Application, 2024-2029 (USD Million)
Table 215 Rest of South America: Cooling Tower Market, by Application, 2021-2023 (Units)
Table 216 Rest of South America: Cooling Tower Market, by Application, 2024-2029 (Units)
13 Competitive Landscape
13.1 Overview
13.2 Key Player Strategies/Right to Win, 2019-2024
Figure 41 Cooling Tower Market: Overview of Strategies Adopted by Key Players, 2019-2024
13.3 Market Share Analysis, 2023
Figure 42 Cooling Tower Market Share Analysis of Key Companies, 2023
Table 217 Cooling Tower Market: Degree of Competition, 2023
13.4 Revenue Analysis, 2021-2023
Figure 43 Cooling Tower Market: Total and Segmental Revenue Analysis of Key Companies, 2023 (USD Billion)
Figure 44 Cooling Tower Market: Revenue Analysis of Key Players, 2021-2023 (USD Billion)
13.5 Company Valuation and Financial Metrics
Figure 45 Cooling Tower Market: Company Valuation of Leading Companies, 2023 (USD Billion)
Figure 46 Cooling Tower Market: Financial Metrics of Leading Companies, 2023
13.6 Brand/Product Comparison
Figure 47 Cooling Tower Market: Brand/Product Comparison
13.7 Company Evaluation Matrix: Key Players, 2023
13.7.1 Stars
13.7.2 Emerging Leaders
13.7.3 Pervasive Players
13.7.4 Participants
Figure 48 Cooling Tower Market: Company Evaluation Matrix (Key Players), 2023
13.7.5 Company Footprint: Key Players, 2023
13.7.5.1 Company Footprint
Figure 49 Company Footprint
13.7.5.2 Region Footprint
Table 218 Cooling Towers: Region Footprint
13.7.5.3 Flow Type Footprint
Table 219 Cooling Tower Market: Flow Type Footprint
13.7.5.4 Technology Footprint
Table 220 Cooling Towers: Technology Footprint
13.7.5.5 Construction Material Footprint
Table 221 Cooling Towers: Construction Material Footprint
13.7.5.6 Design Footprint
Table 222 Cooling Towers: Design Footprint
13.7.5.7 Type Footprint
Table 223 Cooling Towers: Type Footprint
13.7.5.8 Application Footprint
Table 224 Cooling Towers: Application Footprint
13.8 Company Evaluation Matrix: Start-Ups/SMEs, 2023
13.8.1 Progressive Companies
13.8.2 Responsive Companies
13.8.3 Dynamic Companies
13.8.4 Starting Blocks
Figure 50 Cooling Tower Market: Company Evaluation Matrix (Start-Ups/SMEs), 2023
13.8.5 Competitive Benchmarking: Start-Ups/SMEs, 2023
13.8.5.1 Detailed List of Key Start-Ups/SMEs
Table 225 Cooling Tower Market: List of Key Start-Ups/SMEs
13.8.5.2 Competitive Benchmarking of Key Start-Ups/SMEs
Table 226 Cooling Towers: Competitive Benchmarking of Start-Ups/SMEs
13.9 Competitive Scenarios and Trends
13.9.1 Product Launches
Table 227 Cooling Tower Market: Product Launches, May 2019-February 2024
13.9.2 Deals
Table 228 Cooling Tower Market: Deals, May 2019-February 2024
13.9.3 Expansions
Table 229 Cooling Tower Market: Expansions, May 2019-February 2024
13.9.4 Others
Table 230 Cooling Tower Market: Others, May 2019-February 2024
14 Company Profiles
14.1 Key Players
(Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, Weakness/Competitive Threats)*
14.1.1 Baltimore Aircoil Company, Inc.
Table 231 Baltimore Aircoil Company, Inc.: Company Overview
Table 232 Baltimore Aircoil Company, Inc.: Products Offered
Table 233 Baltimore Aircoil Company, Inc.: Product Launches
Table 234 Baltimore Aircoil Company, Inc.: Deals
14.1.2 Spx Technologies
Table 235 Spx Technologies: Company Overview
Figure 51 Spx Technologies: Company Snapshot
Table 236 Spx Technologies: Products Offered
Table 237 Spx Technologies: Deals
Table 238 Spx Technologies: Expansions
14.1.3 John Cockerill
Table 239 John Cockerill: Company Overview
Table 240 John Cockerill: Products Offered
Table 241 John Cockerill: Deals
14.1.4 Ebara Corporation
Table 242 Ebara Corporation: Company Overview
Figure 52 Ebara Corporation: Company Snapshot
Table 243 Ebara Corporation: Products Offered
Table 244 Ebara Corporation: Others
14.1.5 Evapco, Inc.
Table 245 Evapco, Inc.: Company Overview
Table 246 Evapco, Inc.: Products Offered
Table 247 Evapco, Inc.: Product Launches
Table 248 Evapco, Inc.: Expansions
14.1.6 Enexio Management GmbH
Table 249 Enexio Management GmbH: Company Overview
Table 250 Enexio Management GmbH: Products Offered
Table 251 Enexio Management GmbH: Deals
14.1.7 Babcock & Wilcox Enterprises, Inc.
Table 252 Babcock & Wilcox Enterprises, Inc.: Company Overview
Figure 53 Babcock & Wilcox Enterprises, Inc.: Company Snapshot
Table 253 Babcock & Wilcox Enterprises, Inc.: Products Offered
14.1.8 Krones AG
Table 254 Krones AG: Company Overview
Figure 54 Krones AG: Company Snapshot
Table 255 Krones AG: Products Offered
14.1.9 Seagull Cooling Tower Co. Ltd.
Table 256 Seagull Cooling Tower Co. Ltd.: Company Overview
Table 257 Seagull Cooling Tower Co. Ltd.: Products Offered
14.1.10 Paharpur Cooling Towers Ltd.
Table 258 Paharpur Cooling Towers Ltd.: Company Overview
Table 259 Paharpur Cooling Towers Ltd.: Products Offered
14.2 Other Players
14.2.1 Amcot Cooling Tower Corporation.
Table 260 Amcot Cooling Tower Corporation.: Business Overview
14.2.2 Bellct
Table 261 Bellct: Business Overview
14.2.3 Dongahe Industrial Company Ltd.
Table 262 Dongahe Industrial Company Ltd.: Business Overview
14.2.4 Boldrocchi T.E. Srl.
Table 263 Boldrocchi T.E. Srl.: Business Overview
14.2.5 Heng an (Hacst)
Table 264 Heng an (Hacst): Business Overview
14.2.6 Marley Flow
Table 265 Marley Flow: Business Overview
14.2.7 Mita Cooling Technologies S.R.L.
Table 266 Mita Cooling Technologies Srl: Business Overview
14.2.8 Nihon Spindle Manufacturing Co. Ltd.
Table 267 Nihon Spindle Manufacturing Co. Ltd.: Business Overview
14.2.9 Perfect Cooling Towers
Table 268 Perfect Cooling Towers: Business Overview
14.2.10 Star Cooling Towers Pvt. Ltd.
Table 269 Star Cooling Towers Pvt. Ltd.: Business Overview
14.2.11 Delta Cooling Towers, Inc.
Table 270 Delta Cooling Towers, Inc.: Business Overview
14.2.12 National Cooling Towers
Table 271 National Cooling Towers: Business Overview
14.2.13 Tower Tech Cooling System Pvt. Ltd
Table 272 Tower Tech Cooling System Pvt. Ltd.: Business Overview
14.2.14 Watco Group
Table 273 Watco Group: Business Overview
14.2.15 Robson Industries Inc.
Table 274 Robson Industries Inc.: Business Overview
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments, Analyst's View (Key Strengths/Right to Win, Strategic Choices Made, Weakness/Competitive Threats)* Might Not be Captured in Case of Unlisted Companies
15 Appendix
15.1 Discussion Guide
15.2 Knowledgestore: The Subscription Portal
15.3 Customization Options

Companies Mentioned

  • Baltimore Aircoil Company, Inc.
  • Spx Technologies
  • John Cockerill
  • Ebara Corporation
  • Evapco, Inc.
  • Enexio Management GmbH
  • Babcock & Wilcox Enterprises, Inc.
  • Krones AG
  • Seagull Cooling Tower Co. Ltd.
  • Paharpur Cooling Towers Ltd.
  • Amcot Cooling Tower Corporation.
  • Bellct
  • Dongahe Industrial Company Ltd.
  • Boldrocchi T.E. Srl.
  • Heng an (Hacst)
  • Marley Flow
  • Mita Cooling Technologies S.R.L.
  • Nihon Spindle Manufacturing Co. Ltd.
  • Perfect Cooling Towers
  • Star Cooling Towers Pvt. Ltd.
  • Delta Cooling Towers, Inc.
  • National Cooling Towers
  • Tower Tech Cooling System Pvt. Ltd
  • Watco Group
  • Robson Industries Inc.

Methodology

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Table Information

Report AttributeDetails
No. of Pages261
PublishedJuly 2024
Forecast Period2024 - 2029
Estimated Market Value ( USD ) in 2024 $ 3 Billion
Forecasted Market Value ( USD ) by 2029 $ 3.9 Billion
Compound Annual Growth Rate5.3%
Regions CoveredGlobal
No. of Companies Mentioned25

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About the Cooling Tower Market

Heat exchangers and cooling towers are used to transfer heat from one medium to another. Cooling towers are a type of heat exchanger that uses air to cool a hot fluid, such as water, that is circulated through a system. Cooling towers are used in a variety of industries, including power plants, chemical plants, and manufacturing facilities. They are also used in air conditioning systems and refrigeration systems. Cooling towers are typically constructed from concrete, steel, or fiberglass, and are designed to be durable and efficient. They are available in a variety of sizes and configurations, and can be customized to meet specific needs. The cooling tower market is highly competitive, with a wide range of manufacturers offering a variety of products. Some of the leading companies in the cooling tower market include Baltimore Aircoil Company, SPX Cooling Technologies, Inc., Evapco, Inc., and Delta Cooling Towers, Inc. Show Less Read more

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