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Cooling Tower Market Trends

  • Report ID: GMI3023
  • Published Date: Aug 2024
  • Report Format: PDF

Cooling Tower Market Trends

Energy efficiency remains a critical trend, as industries strive to reduce operational costs and meet regulatory requirements. New cooling tower designs feature advanced materials and technologies that enhance thermal performance and lower energy consumption. Variable frequency drives (VFDs) are increasingly used to optimize fan speeds according to cooling load requirements, further improving energy efficiency. The rise of the Internet of Things (IoT) is transforming cooling tower operations. Smart cooling towers equipped with sensors and monitoring systems allow for real-time data collection and analysis, enabling predictive maintenance and optimizing operational performance.
 

This technology helps facility managers identify issues before they escalate, improving reliability and reducing downtime. As space becomes a premium in urban environments, the demand for modular and compact cooling tower designs is growing. These systems can be easily integrated into existing infrastructures, providing flexibility and scalability. Modular designs also facilitate easier maintenance and installation, appealing to both new and retrofitted systems.
 

Authors: Ankit Gupta, Abhishek Chopra

Frequently Asked Questions (FAQ) :

Cooling tower market size was assessed at USD 3 billion in 2023 and will record 4.6% CAGR through 2032 due to the increasing demand for energy-efficient cooling solutions across various industries.

The evaporative/wet segment in the market is expected to cross USD 2.3 billion by 2032 owing to its superior cooling efficiency and lower operational costs.

Asia Pacific cooling tower market is anticipated to surpass USD 2.4 billion by 2032 on account of rapid industrialization, urbanization, and increasing energy demands.

Bell Cooling Tower (P) Ltd., Baltimore Aircoil Company (BAC), BERG Chilling Systems, Inc., Brentwood Industries, Inc., Delta Cooling Towers, Inc., ENEXIO Management GmbH, EVAPCO, Inc., ENGIE Refrigeration GmbH, and International Cooling Tower Inc. among others.

Cooling Tower Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 20
  • Tables & Figures: 15
  • Countries covered: 31
  • Pages: 110
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