Field-Erected Cooling Tower Market Industry Analysis Report, Regional Outlook, Application Development, Competitive Market Share and Forecast, 2020 - 2026
Report ID: GMI3495
Field-erected cooling tower market is set to grow on account of increasing thermal capacity addition along with development of sustainable cooling network. Growing adoption of HVACR systems coupled with robust increase in industrial activities across the emerging economies will foster the industry growth. In addition, favorable regulatory norms toward development of low emission technologies will further complement the business outlook.
Increasing investments toward development of coal fired power plants across China, India Indonesia and other developing countries will stimulate the Asia Pacific field-erected cooling tower market growth. In addition, upsurge in urbanization rate along with robust industrial growth will positively influence the product demand. Rapid development of cross-border production networks and favorable government policies have created opportunities for low-income economies across the region.
Mechanical design field-erected cooling tower market will onlook growth owing to their increasing penetration across commercial and industrial establishments. Reduced upfront cost, greater stability, minimum effect on environment and high thermal performance are some of the key parameters which will boost the product demand. In addition, they use single or multiple fans including centrifugal and propeller fans to provide air flow in the towers.
The ongoing expansion of conventional power generating stations coupled with a positive outlook toward the utilization of sustainable energy resources will boost the demand for field-erected cooling tower market. Introduction of strict emission norms has resulted in the growing adoption of combined cycle, ultra-supercritical and supercritical plants which in turns will boost the product adoption.
Accelerating investments toward heating, ventilation, air-conditioning and refrigeration (HVACR) systems on account of infrastructure development and urbanization will boost the open circuit field-erected cooling tower market growth. These systems are enclosed structure which distribute warm water on a labyrinth packing or fill. Furthermore, they provide an air water interface for heating of air and evaporation of water. Lower construction cost and continuous technological advancements to remove biological contamination will provide opportunities for business expansion.
Favorable regulatory policies pertaining to the development of low emission systems have substantially widened the deployment spectrum for CT units across the North America. Technological advancement relating to the product innovation and rise in disposable income have also encouraged leading manufacturers to invest in the region, thereby stimulating the field-erected cooling tower market growth. Furthermore, replacement of existing units along with increasing consumer awareness toward adoption of sustainable solutions will continue to boost the industry growth.
Key industry players operating across the field-erected cooling tower market includes Thermal Care, Thermax, Paharpur Cooling Tower, SPX Cooling, ENEXIO, Bell Cooling Tower and Johnson Controls.
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