Concrete Cooling Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2019 - 2025
Report ID: GMI1499
Concrete Cooling Market size will grow significantly owing to expansion to infrastructure development in BRICS nations. Since construction industry is humongous in these countries, the concrete cooling systems demand can remain high in these nations.
Concrete water cooling system is fastest growing segment in the market, by type due to its attributes like simple functionality, availability and cost effectiveness. In Middle-East, demand for water cooling systems has grown across diverse segments, hence creating opportunity for industry growth. Technological innovations in the product portfolio is another driver for industry growth, KTI, a Germany based company, uses film evaporators instead of using shell and tube heat exchangers to increase product efficiency.
Other types of concrete cooling systems are ice cooling where flaked ice is used to hydrate and lower temperature of concrete, air cooling system which blows cold air in vapor form over the concrete surface and nitrogen cooling where liquid nitrogen is applied on freshly prepared concrete. All these types of concrete cooling systems are invariably used per its need and utility in concrete setting process.
Global construction market was valued over USD 8 trillion in 2015 and is projected to surpass USD 15 trillion by 2024. Economic growth in countries like China, India, Thailand, Malaysia, Indonesia and South Korea has raised the demand of these products owing to infrastructure development. It is a technique used to reduce temperature of poured concrete to maintain its characteristic temperature for enhanced results and is mostly used in projects involving large amounts of concrete and regions having warm climate.
Concrete cooling market size in highway construction application occupies a larger chunk of the demand. They are used to cure the building material, which helps to improve its strength in long-term. This leads to increased use of the concrete cooling system in highway construction raising its demand.
Planning and construction of over 3500 new dams in growing economies to meet rising renewable energy demand and government regulations for cleaner, cheaper and greener fuel will play a major driver for the concrete cooling market size. Dams are required to hold and store huge amounts of water and generate electricity exerting huge force on concrete walls of the dam. These walls need to be treated and tested to bear such pressure and force, concrete cooling systems helps to cure the concrete and increase its strength.
Middle East, led by Qatar, UAE and Saudi Arabia concrete cooling market size, is one of the major regional industries owing to extremely hot climatic conditions and infrastructure growth opportunities. Infrastructure development is a major form of business in middle east, from highways &road, huge commercial projects to ports & plants every structure requires to meet the strength and specification to serve its purpose and driving the market share.
North America, led by U.S. concrete cooling market size, expects moderate gains throughout the forecast period owing to low temperature conditions in the region. The residential and commercial buildings don’t require much of the products to be installed to keep the temperature of the structure at a lower range. Europe concrete cooling market size, led by France, Germany, UK and Italy infrastructure development, must witness moderate gains over the forecast period.
Construction industry in APAC was valued at over USD 1.5 billion in 2015 and is forecast to grow at a rate of 5% CAGR by 2024. APAC, led by India, Japan and China concrete cooling market size is likely to witness steady gains over the forecast timeframe.
Global concrete cooling market share is diverse in nature including upstream players, raw material suppliers, downstream stakeholders, end-users, vendors and government organization. Some key players are KTI-Plersch Kältetechnik GmbH, Coldcrete., Fujian Snowma., Kirloskar Pneumatic, Icelings, North Star Ice Equipment Corp and Focusun Refrigeration Corp.
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