Cooling Tower Market Size Worth $5.57 Billion By 2030 | CAGR: 4.3%

The global cooling tower market size is expected to reach USD 5.57 billion by 2030, according to a new study by Polaris Market Research. The report “Cooling Tower Market Share, Size, Trends, Industry Analysis Report, Type (Evaporative, Dry, Hybrid); By Application; By Design; By Material; By Region; Segment Forecast, 2022 - 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Key factors responsible for the market growth include a surge in industrial facilities in emerging nations, particularly in South Asian nations, strong demand from nuclear power plants, stringent government norms, and technological advancements in HVAC systems. In terms of the food sector, pasteurization and sterilizing procedures also use coolant systems. Food and beverage sector use cooling towers and heat exchangers for refinery of oil, cheese industry, sugar industry, wine distilleries fruit juice factories.

Some industrial applications of cooling towers are paper and rubber manufacturing, metal casting and forging plants, vehicle manufacturing, plastic and laminate sheet manufacturing, rice mills, and the textile industry. In line with this, in January 2022, Brentwood acquired a unit of Enexio’s Water Technologies business. The acquisition expands Brentwood's skills, global sales and engineering footprint, and areas of expertise.

The rise in the global population, modernization, and urbanization leads to new construction activities. Hence, many large buildings such as airports, hotels, and hospitals require coolant towers to give a pleasant environment. A cooling tower is part of the building’s HVAC systems in which heat is dissipated from the hot water. Thus, increasing the growth of the global market.

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Common cooling towers have much stagnant water, making it possible for Legionella bacteria to grow there. These towers can potentially spread Legionnaires' disease if they are not properly cleaned, disinfected, and maintained. Using heat exchange, the water passing through the coolant towers is heated, providing the ideal setting for Legionella, a bacterium that thrives in heat.

The design and installation of Cooling Towers free of Legionella are a specialty of Boldrocchi T.E. Legionella will not grow in cooling towers because of the technologies used in their construction and subsequent treatments. Effective engineering and water treatment techniques considerably limit the risk of a Legionella infection during the construction, operation, and maintenance of legionella-free coolant towers.

Cooling Tower Market Report Highlights

• Evaporative segment held the highest market share in 2021 because it gives high energy efficiency even on small surfaces.
• HVAC segment is anticipated to grow at a maximum CAGR over the forecast period owing to the rise in commercial and residential building construction.
• APAC is growing this market because of the rapid population growth, which leads to industrialization and construction of buildings and industries.
• The global players include Baltimore Aircoil Company, Artech Cooling Towers, Babcock & Wilcox Enterprises, and Brentwood Industries.

Polaris Market Research has segmented the cooling tower market report based on type, application, design, material, and region:

Cooling Tower, Type Outlook (Revenue - USD Billion, 2018 - 2030)

• Evaporative
• Dry
• Hybrid

Cooling Tower, Application Outlook (Revenue - USD Billion, 2018 - 2030)

• Chemical and Petrochemical
• Pharmaceutical
• Power Generation
• HVAC
• Food and Beverages
• Others

Cooling Tower, Design Outlook (Revenue - USD Billion, 2018 - 2030)

• Natural
• Mechanical

Cooling Tower, Material Outlook (Revenue - USD Billion, 2018 - 2030)

• Concrete
• Steel
• FRP
• Wood

Cooling Tower, Regional Outlook (Revenue - USD Billion, 2018 - 2030)

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