Evaporative Cooling Tower Market Size - By Design, Build, Construction Material, Flow, Application, Analysis, Share & Growth Forecast, 2024 – 2032

Evaporative Cooling Tower Market Size

The global evaporative cooling tower market was valued at USD 1.7 billion in 2023 and is projected to grow at a CAGR of 4.6% from 2024 to 2032. Rapid industrialization in emerging economies has driven up demand for evaporative cooling towers. These systems are crucial for temperature control in manufacturing processes across power generation, oil and gas, and chemical processing industries. Companies are choosing energy-efficient cooling solutions to cut costs and meet environmental rules. Evaporative cooling towers are popular because they cool more efficiently and cheaply than standard air-cooled systems.
 

Rising environmental concerns and tougher green building rules have boosted demand for energy-efficient cooling towers that use less water. New designs often include eco-friendly materials and advanced water-saving systems. New cooling tower technologies boost performance and efficiency. Hybrid models offer flexible cooling, while smart systems allow real-time monitoring. These innovations optimize performance and cut maintenance costs.
 

Evaporative Cooling Tower Market Trends

Evaporative cooling towers are gaining popularity in commercial HVAC systems. They offer efficient, cost-effective cooling for large spaces, particularly in warm climates. Data centers are expanding rapidly, especially in North America and Asia-Pacific. This growth has boosted demand for efficient cooling solutions. Evaporative cooling towers are becoming more common in these facilities, as they offer large-scale cooling while saving energy.
 

Growing water scarcity has spurred interest in water-efficient cooling tower designs. The industry is now exploring closed-loop and hybrid systems that minimize evaporation, addressing water conservation needs. Environmental regulations and concerns about emissions, water use, and chemicals in cooling systems have boosted demand for eco-friendly solutions. As a result, more companies are adopting water treatment systems and green materials in evaporative cooling towers to meet these regulatory standards.
 

Evaporative Cooling Tower Market Analysis

Based on design, the mechanical segment is anticipated to reach more than USD 1.1 billion through 2032. Mechanical cooling towers with fans are becoming popular for their efficient cooling in industries and businesses. They're especially useful in places that need a lot of cooling, like power plants, data centers, and chemical factories. Commercial and industrial buildings are increasingly using mechanical cooling towers in HVAC systems to improve air quality and control temperature. The push for energy-efficient solutions is driving the adoption of these towers in retail, healthcare, and hospitality sectors.
 

The power generation segment is projected to grow at a CAGR of over 3.7% through 2032. Global electricity demand is growing, mainly in industrializing regions with rising populations. This growth requires reliable cooling systems, especially in thermal and nuclear power plants. Here, cooling towers are vital for managing the large amounts of heat produced during power generation. Power plants are turning to evaporative cooling towers for their efficiency and eco-friendliness. This method cuts energy use and works well in areas focused on conservation, supporting global emission reduction efforts.
 

The U.S. evaporative cooling tower market is likely to exceed USD 246.2 million by 2032. The expanding industrial sector, especially in manufacturing and data centers, is increasing the need for efficient cooling. Evaporative cooling towers are vital in power generation, oil and gas, and heavy industries. These towers ensure operational stability and help companies meet regulatory standards through effective cooling processes. U.S. industries are turning to energy-efficient systems to cut costs and reduce their environmental impact.
 

Asia-Pacific's focus on renewable energy, especially solar and thermal power, has boosted the use of evaporative cooling towers in these plants. China and India are adding these towers to their renewable projects to improve cooling and boost plant efficiency. Asia-Pacific's cooling tower industry is adopting IoT, automation, and new materials. Smart towers with sensors and remote monitoring are popular in chemical, pharmaceutical, and power sectors. These upgrades boost efficiency where high-capacity, reliable cooling is crucial.
 

Evaporative Cooling Tower Market Share

Engie Refrigeration stands as a leading player in the evaporative cooling tower industry, drawing on its deep expertise to offer a broad portfolio of cooling towers. Their product lineup includes standard models as well as a range of customized solutions, complemented by additional products designed to optimize performance. Major industry players are prioritizing inorganic growth strategies and significant technological advancements in product design and development to strengthen their presence throughout the value chain.
 

Evaporative Cooling Tower Market Companies

Some of the key market players operating across the evaporative cooling tower industry are:

• Baltimore Aircoil Company
• Berg Chilling Systems
• Brentwood Industries
• Delta Cooling Towers
• Enexio Management
• Engie Refrigeration
• Evapco
• Hamon
• International Cooling Tower
• Johnson Controls
• Paharpur Cooling Tower
• Spig
• SPX Cooling Technologies
• Thermax
   

Evaporative Cooling Tower Industry News

• In January 2024, S.A. HAMON has secured a contract with SK Ecopla to supply wet induced draft cooling systems for a combined cycle plant currently under construction in Ulsan, Korea. This power plant, set to operate on LPG and LNG as sustainable fuel sources, will have a total capacity of 1.12 GW for power generation.
   

This evaporative cooling tower market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032, for the following segments:

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Market, By Design

• Mechanical
• Natural

Market, By Build

• Field Erection
• Package

Market, By Construction Material

• Concrete
• Steel
• FRP
• Wood
• Others

Market, By Flow

• Cross Flow
• Counter Flow

Market, By Application

• Chemicals & Fertilizers
• Oil & Gas
• Power Generation
• HVACR
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • Russia
  • UK
  • Italy
  • Spain
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • Australia
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • South Africa
• Latin America
  • Brazil
  • Argentina