Cooling towers are used for maintaining temperatures in the chillers for a number of industrial applications. The device is mainly used in the manufacturing and power generation industries for keeping the environment cool. The basic task of cooling towers is to remove heat and maintain cool temperature. The heat regulation can be maintained in air conditioning systems by using cooling tower. They have a number of applications such as power generation, manufacturing industry, HVACR, food and beverage, and others.
Basically, cooling tower is a technology known for maintaining temperature in the chillers for various industrial applications. Important usage of cooling towers is in power generation and manufacturing units in industrial sectors in order to maintain cool environment. The cooling tower is primarily used to transfer the heat into the atmosphere. These are comparatively inexpensive and dependable means of removing low-grade heat from cooling water. Cooling towers are most widely used in removing excess heat that is generated and is used to represent a relatively dependable and inexpensive means of removing low-grade heat from cooling towers.
Covid-19 impact on industry -
COVID-19 pandemic has shut-down the production of various products in cooling tower market industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of cooling tower market significantly from last few months, as is likely to continue during 2020.
COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
An important growth driver for cooling towers is its usage in various industries such as food and beverages and oil industry are factors that drive the growth of the market.
Advantageous features in the cooling tower
An important growth driver for cooling towers is its usage in various industries. Cooling towers started using as energy efficient systems, as water cooled systems as they offer lower energy use than air cooled. Cooling towers are further used in food processing plants, petroleum refineries, natural gas plants and others as cooling towers are designed for cooling the circulating water during the manufacturing process, which is further increasing the market. Moreover, the cooling towers prevent the overheating of the other machines. Increasing demand of cooling towers in various field such as construction, manufacturing units, power generation and air conditioning industry is a major factor expected to increase growth of the global cooling tower market. In addition, constant increment in cooling tower technologies as well as high usage of cooling tower by various sectors are factors estimated to fuel growth of the global cooling tower market. Development and high demand of this cooling towers in the commercial buildings is predicted to boost the growth of the global cooling tower market.
Moreover, some factors such as low cost of cooling towers and high efficiency are anticipated to drive the growth of the global cooling tower. Also, rising need for temperature maintenance and rapidly growing industrialization are other factors projected to increase the growth of the global cooling tower market. Increasing usage of cooling towers in applications in various industries such as food and beverages, gas and oil among other industries is expected to boost the global cooling tower market.
However, there are issues related to corrosion and scaling, unchecked water flows through a cooling tower that makes metal weak and result into water leakage and high maintenance cost, which are factors expected to inhibit growth of the global cooling tower market. In addition, possible negative impact on environment by increasing usage of cooling towers is another major factor expected to prohibit growth of the global cooling tower market to a certain extent.
Surge in usage of coolant tower in industry
The increasing demand in the construction, air conditioning, manufacturing, and power generation industry is expected to increase the global cooling tower market. The rising technological advancements in the cooling towers and high HVACR deployments increase the global cooling tower market. There is high demand for cooling towers in the commercial buildings that excels the global cooling tower market. The increasing demand for HVACR systems in the construction industry increases the growth of the global cooling tower market in various regions. The rising industrialization around the globe is expected to drive the growth of the global cooling tower market.
Key benefits of the report:
- This study presents the analytical depiction of the cooling tower market along with the current trends and future estimations to determine the future of the market
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the cooling tower market share.
- The current market is quantitatively analyzed to highlight the cooling tower market growth scenario.
Cooling Towers Market Report Highlights
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 Key Market Players | Samco, SPIG SPA, American water treatment, Baltimore Aircoil Company, Hamon axisparc, Enexio, Nalco, SPX corporation |
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