Global Field Erected Cooling Tower Market is valued at USD 2.54 Billion in 2021 and is expected to reach USD 3.09 Billion by 2028 with a CAGR of 3.35% over the forecast period.
The Field Erected Cooling Tower Market is expected to have a huge amount of growth over the coming period, due to nonstop technological enhancements in energy industry paired with increasing power requirement. The Detailed Market intelligence report on the Field Erected Cooling Tower Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Field Erected Cooling Tower Market place for the forecast 2021–2028.
A cooling tower is developed to take out heat from the working fluid often through evaporative cooling phenomenon to the atmosphere. Therefore, the cooling tower is also dubbed as a heat rejection machines that transmits heat through the cooling of water stream to the surroundings to room temperature for revitalizing and reprocessing its quality and properties. The cooling tower finds its most common usage in petrochemicals & oil & gas, power generation, paper mills, iron & steel & metallurgy, and other industries.
Global field-erected cooling tower market has been divided based on design, type, region, and end-user. On the basis of type, the market is divided into dry, wet, and hybrid. Amongst these, the wet type is expected to lead the field-erected cooling tower market in the coming period. Wet towers are very favored owing to the high effectiveness of cooling in nuclear and thermal power plants as well as simple accessibility of water. The benefits of a wet tower mainly consist of no need of electrical or mechanical elements, negligible maintenance cost, and large water loading capability. On the basis of design, the market is divided into forced draft, natural draft, and induced draft. Induced draft section led the market and is expected to be the quickest-developing design section. Induced draft cooling tower has a centrally placed fan above, which spreads hot air to the surrounding atmosphere from the tower. The foremost benefit of such towers is that the airflow stays practically same regardless of the ambient surrounding temperature. By end-user, the market is divided into petrochemicals & oil & gas, power generation, paper mills, iron & steel & metallurgy, and others. Power generation sector led the market and is expected to be the quickest-developing end-user section over the coming years.
The major players in the global field-erected cooling tower market are,
The field-erected cooling tower market is expected to have a huge amount of growth over the coming period, due to nonstop technological enhancements in energy industry paired with increasing power requirement. The market is expected to have high growth activities by well-established and multinational firms. M&A are predicted to be witnessed during the coming period with different agreements and contracts between leading governments and EPC all over the world.
The global field-erected cooling tower market is predicted to observe a phenomenal development during the coming period. The considerable development in the power industry with population increment, together with increase in energy requirement has powered the field-erected cooling tower market in different areas. The development is majorly attributed to growing investments in industrial sector, updates in utility infrastructure, and associated government laws in different nations, which is expected to carry on during the coming period. The Asia Pacific area is predicted to develop at the max CAGR, wherein China was the biggest nation-level market, after Japan and India. Rise in population with marvelous energy requirement development has led to a phenomenal development in the region for industrial infrastructure and accordingly led to development of the global market.
Middle East and Africa
|Historical data||2018 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 2.54 Billion|
|Base year considered||2021|
|Forecast Period CAGR %:||
|Market Size Expected in 2028:||USD 3.09 Billion|
|Tables, Charts & Figures:||175|
|Field Erected Cooling Tower Companies||ENEXIO Management GmbH, PX Cooling Technologies, Inc., Baltimore Aircoil Company, Inc., Hamon & Cie SA, Babcock & Wilcox Enterprises, Inc., Paharpur Cooling Towers Ltd., Delta Cooling Towers P. Ltd., Brentwood Industries, Inc., International Cooling Tower Inc., Evapco, Inc., Evaptech, Inc., Mesan, Cycro, inc., Composite Cooling Solutions, L.P., STAR Cooling Towers.|
|Segments Covered||By Type, By Design, By End-User|
|Regional Analysis||North America, U.S., Mexico, Canada, Europe, UK, France, Germany, Italy, Asia Pacific, China, Japan, India, Southeast Asia, South America, Brazil, Argentina, Columbia, The Middle East and Africa, GCC, Africa, Rest of the Middle East and Africa|