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Evaporative Cooling Tower Market Trends

Report ID: GMI3761
Published Date: Oct 2024
Report Format: PDF

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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.

Authors: Ankit Gupta, Vinayak Shukla

Frequently Asked Questions (FAQ) :

The global market for evaporative cooling tower was reached USD 1.7 billion in 2023 and is projected to grow at a CAGR of 4.6% from 2024 to 2032, driven by rapid industrialization in emerging economies.

The mechanical segment is anticipated to reach over USD 1.1 billion by 2032, propelled by the demand for efficient cooling in power plants, data centers, and chemical factories.

The power generation segment is projected to grow at a CAGR of over 3.7% through 2032, fueled by the increasing global electricity demand and the need for reliable cooling systems in thermal and nuclear power plants.

The U.S. evaporative cooling tower market is likely to exceed USD 246.2 million by 2032, led by the expanding industrial sector, particularly in manufacturing and data centers.

Key players in the evaporative cooling tower industry include 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, and Thermax.