Cooling Towers Market by Application, Growth, Data Validation, Analysis and Forecasts to 2023

(IT-NEWSWIRE.COM, November 06, 2017 ) According to Publisher, 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.

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Asia Pacific has acquired largest market share owing to the adoption of cooling towers in industrial sector. Demand for cooling towers is also 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 Kogoyo Co.Ltd, Delta Cooling Tower Inc, Harrison Cooling Towers Pvt. Ltd, Evapco Inc and Kemrock Industries and Exports Ltd.

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

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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

Regions Covered:
-North America
o US
o Canada
o Mexico
-Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
-Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
-South America
o Argentina
o Brazil
o Chile
o Rest of South America
-Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

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Cooling Towers Market by Application, Growth, Data Validation, Analysis and Forecasts to 2023