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Evaporative Cooling Tower Market Size, Regional Outlook, Growth Potential, COVID-19 Impact Analysis, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI3761

Evaporative Cooling Tower Market size would grow at a significant pace over the span of 2021-2027 with rapid industrialization and surge in the installation of these towers to avoid wear and tear. Evaporative cooling towers offer cooling based on a design wet bulb temperature. These towers usually cool water to nearly 85 degrees Fahrenheit but may cool it to as low as 65 degrees Fahrenheit. Besides, evaporative cooling towers are the most economical approach to cool large amounts of water.
 

Evaporative cooling towers are being extensively deployed in hot-dry climates to cool outdoor air and circulate it to a building or an area. They are also being used in HVAC systems. These units generally use evaporative cooling through either crossflow or counterflow systems further broken down into direct and indirect cooling.
 

The growth in evaporative cooling tower market share is projected to come from the rising installation of direct and indirect evaporative cooling systems in these structures. Direct evaporative cooling systems facilitate the transfer of heat from the warm water to the cooler air directly and are thus used in open-air cooling towers. On the other hand, indirect evaporative cooling systems keep the process fluid out of direct contact with air. The processes used in these systems help in minimizing the potential for contamination thus reducing the overall maintenance on the cooling unit.
 

Closed circuit evaporative cooling towers are witnessing rise in preference worldwide. In these towers, cold water or a solution of ethylene or propylene glycol is being used to offer optimum cooling. Unlike in an open cooling tower, the fluid used in these towers is enclosed in a coil and not directly exposed to the air. The cool fluid in the coil generated inside the cooling tower then loops back to the beginning of the process, which is then reused in the process.  
 

Evaporative cooling towers are also being extensively used in data centers. Soaring establishment of data centers worldwide due to the rising IT infrastructure is expected to aid the adoption of evaporative cooling in the sector. Massive power within these data centers generate heat, making effective cooling a fundamental building system requirement. Evaporative cooling towers form an integral part of many data center cooling systems.
 

Regionally, Asia Pacific evaporative cooling tower market, led by China, is projected to record appreciable growth through 2027. This can be credited to the rising number of manufacturing units along with the expansion of the industrial sector in the nation. Additionally, the surging focus toward coal-based power plants would potentially influence the market demand. Besides, the country’s escalating interest in nuclear power projects for catering to the growing electricity demand nationwide would further enhance the regional market growth in the coming years.
 

The global evaporative cooling tower industry is highly consolidated and boasts the presence of leading firms including SPX Cooling, ENEXIO, Baltimore Aircoil International NV, Thermal Care, Paharpur Cooling Tower, Johnson Controls, and Star Cooling, amongst others.
 

These industry behemoths have been engaged in various market strategies including product developments, acquisitions, partnerships, and more to gain a competitive edge in the global business space.
 

COVID-19 impact on evaporative cooling tower market forecast

The global evaporative cooling tower market during 2020, was severely affected in wake of the novel coronavirus pandemic outbreak. This can be attributed to the worldwide shutdown of various businesses, stringent movement restrictions imposed by central governments, and disruptions in supply chains. However, ease of lockdown norms is projected to produce lucrative proceeds to the global market.

 

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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