AI and electronic controls have a disruptive impact on cooling tower performance monitoring and operation

Cooling Tower Market

Dublin, February 19, 2024 (GLOBE NEWSWIRE) — The “Cooling Towers – Global Strategic Business Report” the report has been added to ResearchAndMarkets.com offer.

Global Cooling Tower Market to Reach $5.2 Billion by 2030

The global cooling tower market, estimated at US$ 3.6 billion in 2022, is expected to reach a revised size of US$ 5.2 billion by 2030, growing at 4.6% over the period. 2022-2030 analysis. Wet towers, one of the segments analyzed in the report, is expected to register a CAGR of 5.2% and reach US$ 3.3 billion by the end of the analysis period. The Dry Towers segment growth is estimated at 3.4% CAGR for the next 8-year period.

The US market is estimated at $983.3 million, while China is expected to grow at a CAGR of 6.7%.

The cooling tower market in the United States is estimated to reach US$ 983.3 million in 2022. China, the world’s second largest economy, is expected to reach a projected market size of US$ 453.1 million by 2030 , with a CAGR of 6.7% compared to the year 2030. analysis period 2022 to 2030.

Other notable geographic markets include Japan and Canada, each expected to grow by 3.6% and 4.7% respectively over the period 2022-2030. In Europe, Germany is expected to grow at around 3.9% CAGR.

What’s new ?

• Special Discussions on Global Economic Climate and Market Sentiment

• Coverage of global competitiveness and percentage market shares of key competitors

• Analysis of market presence in several geographies – Strong/Active/Niche/Trivial

• Tailored interactive online peer-to-peer collaborative updates

• Access to digital archives and research platform

• Free updates for one year

• Access to YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes.

Key Attributes:

MARKET OVERVIEW

The story continues

• Global Economic Update

• Weak global economic environment restrains market growth during pandemic years

• Competitive scenario

• Select innovations and advances

• Competitive market presence – Strong/Active/Niche/Trivial for 118 players worldwide in 2023 (E)

• Popular type of heat exchanger, cooling towers play a key role in industrial process heat management

• An essential capital investment for industries where cooling forms a significant part of production/manufacturing processes, cooling towers represent one of the largest segments of the heat exchanger market.

• Global Market Outlook and Outlook

• Impact of the pandemic on the cooling tower market

• Growth constraints

• Corrosion and scale: a major challenge

• Regional analysis

• Cooling towers: product overview

• Classification of cooling towers

• Cooling Tower Applications in Key End-Use Segments

• Regulations impacting the industry

• Recent market activity

• Select global brands

MARKET TRENDS AND FACTORS

• Artificial Intelligence and Electronization of Controls Have Disruptive Impact on Cooling Tower Performance Monitoring and Operation

• Growing importance of robotic and intelligent process automation in the era of smart factories to increase the business value of cooling towers with electronic controls

• Machine learning techniques improve cooling tower efficiency

• As hidden profit centers, energy-efficient cooling towers are gaining importance

• Energy-efficient cooling towers are winning the race amid the growing popularity of energy audits and attention to cooling towers as the most overlooked process equipment with energy optimization potential.

• Undeniable productivity benefits of industrial energy efficiency measures to boost the business value of energy-efficient cooling towers

• A mix of factors spreads challenges and opportunities in equal measure for cooling towers in the global oil refining market

• With growth tilted toward alternative liquid fuels, oil refineries face elevated risk as oil disruption marks the transition to a low-carbon economy.

• Capturing a significant percentage of additional new refining capacity, developing regions and the United States are emerging as lucrative growth pockets for cooling towers in the oil refining sector

• Impact of COVID-19 on the oil and gas industry

• Resuming construction activity drives demand for packaged rooftop HVAC cooling towers

• Steady gains in the construction sector and mandatory building energy efficiency provisions to generate opportunities for HVAC cooling towers

• Cooling towers are becoming a more desirable solution for HVAC cooling needs in buildings, supported by the smart connectivity benefits offered by building automation systems (BAS).

• Rising Global Energy Needs Drive Steady Growth of Cooling Towers in Power Generation and Utilities Sector

• As an icon of thermal power generation, large cooling towers continue to find attractive opportunities in coal-fired power plants

• Focus on renewable energies: a double victory for cooling towers in the energy sector

• Expected revival of nuclear power to generate opportunities in cooling tower market

• Nuclear power to boost demand for cooling towers

• Evaporation credits offered by utilities strengthen the business case for using cooling towers

• Uncertainties resurface after two years of recovery in the mining industry, putting mining cooling towers back into trouble

• As deep mines begin to invade Earth’s forbidden zone, efficient mine cooling towers will gain importance in the long term.

• Good outlook for global chemical industry drives demand for cooling towers

• Healthy Market for Processed Foods Will Benefit Demand for Cooling Towers in Food Processing Sector

• Cooling Tower for Food Processing: A Review of Recent Advances

• Strict environmental standards and worsening water shortages drive demand for closed-loop dry cooling towers

• Advances in water treatment processes

• Effective use of new technologies for optimal operation of cooling towers

• Cooling Tower Rental Market on a Growth Path

• Hybrid Cooling Towers Gain Importance and Business Value

• Current Status of Hybrid Cooling Tower Market

• Technological innovations remain essential to growth

• Save water with vapor collection technology

• Next-generation factory-assembled cooling towers to positively impact the bottom line of HVAC and industrial processes

• Modular cooling towers for use in all industries: Krones VapoChill, a concrete example

• Advances in plume reduction technologies and drift eliminators to address environmental concerns

• New design and material innovations increase cooling efficiency

• Electrical pulse technology, an alternative to water treatment chemicals in cooling towers

• A review of innovations in construction materials for cooling towers

• Power transmission technologies in cooling towers

• Water Efficiency Study for Cooling Technology

• Research to overcome the obstacle of excessive water consumption

• Changes in cooling water treatment processes

• Reduce cooling tower maintenance with automation

FOCUS ON A SELECTION OF PLAYERS(Total 118 featured)

• Babcock & Wilcox Enterprises, Inc.

• Baltimore Air Coil Company

• AEC Group

• BERG Cooling Systems, Inc.

• CASE Group

• Delta Cooling Towers, Inc.

• CE Shepherd Company, LP

• Aggreko

• Brentwood Industries, Inc.

• Conair Group

• Cooling Tower Depot, Inc.

• Advanced Cooling Tower Pvt., Ltd.

• Boldrocchi Srl

• Bell Cooling Towers

• Deltatherm Hirmer GmbH

For more information on this report, visit https://www.researchandmarkets.com/r/9ubtsf

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