Dec 6, 2017   SOURCE: BusinessWire

Global Cooling Towers Market Outlook 2017-2023: Market is expected to grow from $2.27 billion in 2016 to reach $3.36 billion by 2023 - Research and Markets

The "Cooling Towers - Global Market Outlook (2017-2023)" report has been added to Research and Markets' offering.

The Global Cooling Towers market is expected to grow from $2.27 billion in 2016 to reach $3.36 billion by 2023 with a CAGR of 5.7%

Growing demand for cooling towers from developing regions, technological improvements in cooling towers and increasing demand for HVACR deployments among various industries are propelling the market. However, water requirement in bulk quantities and slow growth of these towers in Europe and North America are hindering the market.

Hybrid towers segment dominated the cooling towers market with a highest market share due to optimal cooling and water conservation. On the other hand, the demand for fiber- reinforced plastic (FRP) is growing rapidly as this material is corrosion resistance, less cost compared to other materials and easy to install.

Growing construction projects and rising focus on building energy management technologies are increasing the demand for HVAC cooling towers. These cooling towers are widely used in industrial applications to maintain temperatures in chillers.

Asia Pacific has acquired largest market share owing to the adoption of cooling towers in industrial sector. Demand for cooling towers is als-growing in China with the emergence of new power plant projects and rapid industrialization.

Some of the key players in global cooling towers market include Bell Cooling Tower, Johnson Controls Inc, Baltimore Aircoil Company Inc, Star Cooling Towers Pvt. Ltd, Brentwood Industries, Inc, Paharpur Cooling Tower Limited, Enexio, SPX Corporation, Hamon & CIE International SA, Spig S.P.A., Kuken Kogoy-Co.Ltd, Delta Cooling Tower Inc, Harrison Cooling Towers Pvt. Ltd, Evapc-Inc and Kemrock Industries and Exports Ltd.

What The Report Offers:

  • Market share assessments for the regional and country level segments
  • Market share analysis of the top industry players
  • Strategic recommendations for the new entrants
  • Market forecasts for a minimum of 7 years of all the mentioned segments, sub segments and the regional markets
  • Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
  • Strategic recommendations in key business segments based on the market estimations
  • Competitive landscaping mapping the key common trends
  • Company profiling with detailed strategies, financials, and recent developments
  • Supply chain trends mapping the latest technological advancements

Materials Covered:

  • Concrete
  • Fiber-Reinforced Plastic (FRP)
  • High-Density Polyethylene (HDPE)
  • Wood
  • Steel

Applications Covered:

  • Chemical
  • Power Generation
  • Petrochemical and Oil & Gas
  • Food & Beverage
  • HVACR
  • Pharmaceutical and Laboratories
  • Process Cooling

Method of Heat Transfers Covered:

  • Plume Abatement Tower
  • Dry Tower
  • Water Conservation Tower
  • Evaporative Tower
  • Other Method of Heat Transfers

Constructions Covered:

  • Factory Assembled
  • Field Erected

Type of Towers Covered:

  • Hybrid Cooling Tower
  • Closed-Circuit Cooling Towers
  • Open-Circuit Cooling Towers
  • Natural Draft
  • Mechanical Draft

For more information about this report visit https://www.researchandmarkets.com/research/bss8pm/cooling_towers