Cooling Towers Market Analysis By Type (Open-Circuit, Closed-Circuit, Hybrid), By Material (FRP, Concrete, Steel, Wood, HDPE), By Application, By Region, And Segment Forecasts, 2014 - 2025

Published: Aug, 2017 | Pages: 90 | Publisher: Grand View Research
Industry: Construction | Report Format: Electronic (PDF)

The global cooling towers market is expected to reach USD 4.85 billion by 2025, according to a new report conducted by Grand View Research, Inc. 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.

Furthermore, a tremendous rise in the number of construction activities across the residential and commercial sectors in developing countries is expected to boost the demand for this product. Additionally, rapid global industrialization is also a key driver expected to favorably impact the cooling towers market growth over the forecast period.

Technological advancements \ are expected to provide improved cooling capacity, minimum components, improved installation & energy savings, and low maintenance cost, which is further anticipated to escalate market growth in the near future. Moreover, stringent government regulations relating to the use of cooling towers across different regions is also expected to positively impact market growth.

However, environmental concerns related to cooling towers such as plume, drift, and water contamination are anticipated to moderately hamper the market demand. Nevertheless, the emergence of plume abated towers and drift eliminators is expected to overcome these environmental concerns and drive market growth in the near future.

Energy-efficient towers provide optimal cooling while exhibiting eco-friendly properties. These facilitate in water conservation, provide high-efficiency motors in order to cut down on the operating cost, and reduce environmental concerns. These environmental benefits are also expected to drive the demand for the product.

HVAC systems are generally implemented in commercial spaces, large offices, and shopping malls. Cooling towers are a mandatory component of an HVAC system, which is used to remove excess heat from the building. The increasing rate of urbanization and enhanced standard of living are expected to lead to the large-scale implementation of HVAC systems, thereby driving the market growth globally.

Further key findings from the report suggest :

• The closed-circuit type segment captured over 30% of the total revenue in 2016; however, hybrid type is anticipated to exhibit a substantial growth at a CAGR exceeding 4% from 2017 to 2025. This growth is attributed to their increasing adoption across various end-use industries.

• The Fiber-Reinforced Plastic (FRP) material segment accounted for over 20% of the total market share in 2016. However,High-Density Polyethylene (HDPE) material segment is projected to register a significant CAGR exceeding 5.0% from 2017 to 2025, owing to various benefits including high corrosion resistance, low maintenance cost, and long service life.

• Cooling towers have a wide scope for application in HVAC equipment and power plants due to their ability to remove excess heat. As a result, the HVAC segment is anticipated to capture a sizeable market share over the forecast period.

• Asia Pacific has emerged as the fastest growing market and is expected to witness a healthy CAGR of over 5.0%, which is primarily accredited to the rapid industrialization in this region.

• Key players in this industry include SPX Corporation, Evapco, Hamon & CIE International SA, Paharpur Cooling Towers, B&W SPIG (Babcock & Wilcox), Enexio, and Baltimore Aircoil Company.

 Table of Contents

Chapter 1. Methodology and Scope
                1.1. Research Process
                1.2. Research Methodology
                1.3. Geographic Scope
                1.4. Research Scope & Assumptions
                1.5. List of Data Sources
Chapter 2. Executive Summary
                2.1. Cooling Towers Regional Marketplace: Key Takeaways
Chapter 3. Cooling Towers Industry Outlook
                3.1. Market Segmentation
                3.2. Market Size and Growth Prospects, 2014 - 2025
                3.3. Value Chain Analysis
                3.4. Market Dynamics
                    3.4.1. Market driver analysis
                        3.4.1.1. Increase in electricity consumption
                        3.4.1.2. Growing construction sectors
                        3.4.1.3. Focus on energy efficiency
                        3.4.1.4. Technological advancements
                    3.4.2. Market restraint analysis
                        3.4.2.1. Environmental concerns associated with cooling towers
                    3.4.3. Market opportunity analysis
                        3.4.3.1. Growing industrial sector in Asia Pacific
                3.5. Penetration and Growth Prospect Mapping
                3.6. Industry Analysis - Porter's Analysis
                3.7. Company Market Share Analysis, 2016
                3.8. PEST Analysis
Chapter 4. Cooling Towers Market: Type Outlook
                4.1. Global Cooling Towers Market by Type, 2016 & 2025 (USD Million)
                4.2. Open-Circuit Cooling Towers
                    4.2.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                    4.2.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
                4.3. Closed-Circuit Cooling Towers
                    4.3.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    4.3.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
                4.4. Hybrid Cooling Towers
                    4.4.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    4.4.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
Chapter 5. Cooling Towers Market: Material Outlook
                5.1. Global Cooling Towers Market by Material, 2016 & 2025 (USD Million)
                5.2. Fiber-Reinforced Plastic (FRP)
                    5.2.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    5.2.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
                5.3. Steel
                    5.3.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    5.3.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
                5.4. Concrete
                    5.4.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    5.4.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
                5.5. Wood
                    5.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    5.5.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
                5.6. High-Density Polyethylene (HDPE)
                    5.6.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    5.6.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
Chapter 6. Cooling Towers Market: Application Outlook
                6.1. Global Cooling Towers Market by Application, 2016 & 2025 (USD Million)
                6.2. HVAC
                    6.2.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    6.2.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
                6.3. Power Generation
                    6.3.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    6.3.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
                6.4. Oil & Gas
                    6.4.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    6.4.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
                6.5. Industrial
                    6.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million) 
                    6.5.2. Market estimates and forecasts by region, 2014 - 2025 (USD Million)
Chapter 7. Cooling Towers Market: Regional Outlook
                7.1. Global Cooling Towers Market by Region, 2016 & 2025 (USD Million)
                7.2. North America
                    7.2.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                    7.2.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                    7.2.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                    7.2.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                    7.2.5. U.S.
                        7.2.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                        7.2.5.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                        7.2.5.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                        7.2.5.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                    7.2.6. Canada
                        7.2.6.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                        7.2.6.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                        7.2.6.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                        7.2.6.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                7.3. Europe
                    7.3.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                    7.3.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                    7.3.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                    7.3.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million
                    7.3.5. UK
                        7.3.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                        7.3.5.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                        7.3.5.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                        7.3.5.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                    7.3.6. Germany
                        7.3.6.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                        7.3.6.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                        7.3.6.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                        7.3.6.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                    7.3.7. France
                        7.3.7.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                        7.3.7.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                        7.3.7.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                        7.3.7.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                7.4. Asia Pacific
                    7.4.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                    7.4.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                    7.4.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                    7.4.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                    7.4.5. China
                        7.4.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                        7.4.5.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                        7.4.5.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                        7.4.5.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                    7.4.6. India
                        7.4.6.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                        7.4.6.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                        7.4.6.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                        7.4.6.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                    7.4.7. Japan
                        7.4.7.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                        7.4.7.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                        7.4.7.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                        7.4.7.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                7.5. Latin America
                    7.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                    7.5.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                    7.5.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                    7.5.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                    7.5.5. Brazil
                        7.5.5.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                        7.5.5.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                        7.5.5.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                        7.5.5.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                    7.5.6. Mexico
                        7.5.6.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                        7.5.6.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                        7.5.6.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                        7.5.6.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
                7.6. Middle East & Africa
                    7.6.1. Market estimates and forecasts, 2014 - 2025 (USD Million)
                    7.6.2. Market estimates and forecasts by type, 2014 - 2025 (USD Million)
                    7.6.3. Market estimates and forecasts by material, 2014 - 2025 (USD Million)
                    7.6.4. Market estimates and forecasts by application, 2014 - 2025 (USD Million)
Chapter 8. Competitive Landscape
                8.1. B&W SPIG (Babcock & Wilcox)
                    8.1.1. Company overview
                    8.1.2. Financial performance
                    8.1.3. Product benchmarking
                    8.1.4. Recent developments
                8.2. Baltimore Aircoil Company (BAC)
                    8.2.1. Company overview
                    8.2.2. Financial performance
                    8.2.3. Product benchmarking
                    8.2.4. Recent developments
                8.3. Cenk Industrial Plants Manufacturing and Contracting
                    8.3.1. Company overview
                    8.3.2. Financial performance
                    8.3.3. Product benchmarking
                    8.3.4. Recent developments
                8.4. Cooling Towers Systems, Inc. 
                    8.4.1. Company overview
                    8.4.2. Financial performance
                    8.4.3. Product benchmarking
                    8.4.4. Recent developments
                8.5. Delta Cooling Towers 
                    8.5.1. Company overview
                    8.5.2. Financial performance
                    8.5.3. Product benchmarking
                    8.5.4. Recent developments
                8.6. Engie Refrigeration GmbH
                    8.6.1. Company overview
                    8.6.2. Financial performance
                    8.6.3. Product benchmarking
                    8.6.4. Recent developments
                8.7. Evapco Inc.
                    8.7.1. Company overview
                    8.7.2. Financial performance
                    8.7.3. Product benchmarking
                    8.7.4. Recent developments
                8.8. Hamon & CIE SA
                    8.8.1. Company overview
                    8.8.2. Product benchmarking
                    8.8.3. Recent development
                8.9. Johnson Controls Inc.
                    8.9.1. Company overview
                    8.9.2. Financial performance
                    8.9.3. Product benchmarking
                    8.9.4. Recent development
                8.10. Kelvion
                    8.10.1. Company overview
                    8.10.2. Financial performance
                    8.10.3. Product benchmarking
                    8.10.4. Recent developments
                8.11. Liang Chi Industry Co. Ltd.
                    8.11.1. Company overview
                    8.11.2. Financial performance
                    8.11.3. Product benchmarking
                    8.11.4. Recent developments
                8.12. Mesan Cooling Towers Ltd.
                    8.12.1. Company overview
                    8.12.2. Financial performance
                    8.12.3. Product benchmarking
                    8.12.4. Recent developments
                8.13. Paharpur Cooling Towers
                    8.13.1. Company overview
                    8.13.2. Financial performance
                    8.13.3. Product benchmarking
                    8.13.4. Recent developments
                8.14. SPX Corporation
                    8.14.1. Company overview
                    8.14.2. Financial performance
                    8.14.3. Product benchmarking
                    8.14.4. Recent developments
                8.15. Torraval Cooling
                    8.15.1. Company overview
                    8.15.2. Financial performance
                    8.15.3. Product benchmarking
                    8.15.4. Recent developments

List of Tables

TABLE 1 Global cooling towers market, 2014 - 2025 (USD Million)
TABLE 2 Global cooling towers market, by type, 2014 - 2025 (USD Million)
TABLE 3 Global cooling towers market, by material, 2014 - 2025 (USD Million)
TABLE 4 Global cooling towers market, by application, 2014 - 2025 (USD Million)
TABLE 5 Global cooling towers market, by region, 2014 - 2025 (USD Million)
TABLE 6 Open-circuit cooling towers market, 2014 - 2025 (USD Million)
TABLE 7 Open-circuit cooling towers market by region, 2014 - 2025 (USD Million)
TABLE 8 Closed-circuit cooling towers market, 2014 - 2025 (USD Million)
TABLE 9 Closed-circuit towers market by region, 2014 - 2025 (USD Million)
TABLE 10 Hybrid cooling towers market, 2014 - 2025 (USD Million)
TABLE 11 Hybrid cooling towers market by region, 2014 - 2025 (USD Million)
TABLE 12 FRP cooling towers market, 2014 - 2025 (USD Million)
TABLE 13 FRP cooling towers market, by region, 2014 - 2025 (USD Million)
TABLE 22 Cooling towers demand in HVAC, 2014 - 2025 (USD Million)
TABLE 23 Cooling towers demand in HVAC, by region, 2014 - 2025 (USD Million)
TABLE 24 Cooling towers demand in power generation, 2014 - 2025 (USD Million)
TABLE 25 Cooling towers demand in power generation, by region, 2014 - 2025 (USD Million)
TABLE 26 Cooling towers demand in oil & gas, 2014 - 2025 (USD Million)
TABLE 27 Cooling towers demand in oil & gas, by region, 2014 - 2025 (USD Million)
TABLE 28 Cooling towers demand in industrial applications, 2014 - 2025 (USD Million)
TABLE 29 Cooling towers demand in industrial applications, by region, 2014 - 2025 (USD Million)
TABLE 30 North America cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 31 North America cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 32 North America cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 33 U.S. cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 34 U.S. cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 35 U.S. cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 36 Canada cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 37 Canada cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 38 Canada cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 39 Europe cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 40 Europe cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 41 Europe cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 42 UK cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 43 UK cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 44 UK cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 45 Germany cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 46 Germany cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 47 Germany cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 48 France cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 49 France cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 50 France cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 51 Asia Pacific cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 52 Asia Pacific cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 53 Asia Pacific cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 54 China cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 55 China cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 56 China cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 57 India cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 58 India cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 59 India cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 60 Japan cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 61 Japan cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 62 Japan cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 63 Latin America cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 64 Latin America cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 65 Latin America cooling tower market by application, 2014 - 2025 (USD Million)
TABLE 66 Brazil cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 67 Brazil cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 68 Brazil cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 69 Mexico cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 70 Mexico cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 71 Mexico cooling towers market by application, 2014 - 2025 (USD Million)
TABLE 72 MEA cooling towers market by type, 2014 - 2025 (USD Million)
TABLE 73 MEA cooling towers market by material, 2014 - 2025 (USD Million)
TABLE 74 MEA cooling towers market by application, 2014 - 2025 (USD Million)