The Worldwide Cooling Towers Industry is Expected to Reach $4.9 Billion by 2027 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Cooling Towers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Amid the COVID-19 crisis, the global market for Cooling Towers estimated at US$4 Billion in the year 2020, is projected to reach a revised size of US$4.9 Billion by 2027, growing at a CAGR of 2.9% over the analysis period 2020-2027.

Heavy Industrial & Utility, one of the segments analyzed in the report, is projected to record a 3.1% CAGR and reach US$2.2 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Air Conditioning/HVAC segment is readjusted to a revised 3.4% CAGR for the next 7-year period.

The U.S. Market is Estimated at $1.1 Billion, While China is Forecast to Grow at 5.3% CAGR

The Cooling Towers market in the U.S. is estimated at US$1.1 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$992.5 Million by the year 2027 trailing a CAGR of 5.3% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR.

Chemicals & Petrochemicals Segment to Record 1.9% CAGR

In the global Chemicals & Petrochemicals segment, USA, Canada, Japan, China and Europe will drive the 1.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$597.5 Million in the year 2020 will reach a projected size of US$664.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets.

Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$673.1 Million by the year 2027, while Latin America will expand at a 2.6% CAGR through the analysis period.

Select Competitors (Total 69 Featured):

• Babcock & Wilcox SPIG
• Baltimore Aircoil Company
• BELL COOLING TOWERS
• BERG Chilling Systems, Inc.
• Brentwood Industries, Inc.
• Composite Cooling Solutions
• Cooling Tower Depot, Inc.
• Cooling Tower Systems, Inc.
• Delta Cooling Towers, Inc.
• Enexio
• ENGIE Refrigeration GmbH
• Evapco, Inc.
• Evaptech, Inc.
• Ilmed Impianti Srl
• International Cooling Tower
• Kelvion Holding GmbH
• Liang Chi Industry (Thailand) Co., Ltd.
• Mesan Cooling Tower Ltd.
• Paharpur Cooling Towers Limited
• REYMSA COOLING TOWERS, Inc.
• Ryowo Holding Co., Ltd.
• SPX Cooling Technologies, Inc.
• Star Cooling Towers
• Superchill Australia Pty Ltd.
• Thermal Care, Inc.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

• Influencer Market Insights
• World Market Trajectories
• Impact of Covid-19 and a Looming Global Recession
• A Popular Type of Heat Exchanger, Cooling Towers Play a Key Role in Industrial Process Heat Management
• Recent Market Activity
• With Global GDP Now Plateauing, It is a Mixed Bag of Opportunities & Challenges for the Cooling Towers Market
• Global PMI Weakens Through the 12-Months of 2018, Triggering Concerns Over the Health of the Manufacturing Industry in 2019
• Market Outlook

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

• Key Market Trends, Drivers & Challenges
• Artificial Intelligence & Electronification of Controls Make a Disruptive Impact on Cooling Tower Performance Monitoring & Operation
• As Hidden Profit Centers, Energy Efficient Cooling Towers Grow in Prominence
• Medley of Factors Dole Out Challenges & Opportunities in Equal Measure for Cooling Towers in the Global Oil Refining Market
• Recovery in Construction Activity Spurs Demand for Rooftop Packaged HVAC Cooling Towers
• Focus on Renewable Energy: A Double Win for Cooling Towers in the Energy Sector
• Rising Global Energy Needs Drives Stable Growth of Cooling Towers in the Power Generation/Utilities Sector
• As the Icon of Thermal Energy Generation, Large Cooling Towers Will Continue to Find Attractive Opportunities in Coal Fired Power Plants
• Focus on Renewable Energy: A Double Win for Cooling Towers in the Energy Sector
• Expected Revival of Nuclear Energy to Drive Opportunities in the Cooling Towers Market
• Uncertainties Resurface After Two Years of Recovery in the Mining Industry, Throwing MineCooling Towers Back Into Stress
• As Deep Mines Begin to Invade the Earth's Forbidden Zone, Efficient Mine Cooling Towers Will Grow in Prominence Over the Long-Term Period
• Evaporative Credits Offered by Utilities Strengthens the Business Case for the Use of Cooling Towers
• Healthy Outlook for the World Chemical Industry Extends a Fillip to Cooling Towers Demand
• Healthy Market for Processed Food to Benefit Demand for Cooling Towers in the Food Processing Sector
• Stringent Environmental Norms & Worsening Water Shortages Drive Demand for Closed Circuit Dry Cooling Towers
• Hybrid Cooling Towers Rise in Importance & Commercial Value
• Technology Innovations Remain Critical to Growth

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/p9q1ga