Cooling Tower Market is expected to generate a revenue of USD 3.85 Billion by 2028, Globally, at 4.1% CAGR: Verified Market Research®

The market report is a good combination of qualitative and quantitative data that highlights significant market changes, obstacles that business and the competition must overcome, as well as new possibilities and trends in the global Cooling Tower Market.

JERSEY CITY, N.J., Jan. 20, 2023 /PRNewswire/ -- Verified Market Research® recently published a report, "Cooling Tower Market" By Type (Evaporative Cooling Tower, Dry Cooling Tower, Hybrid Cooling Tower), By Application (Chemicals, Petrochemicals & Oil & Gas, HVACR, Food & Beverages), and By Geography.

As per the deep research carried out by Verified Market Research®, the global Cooling Tower Market size was valued at USD 2.79 Billion in 2020 and is projected to reach USD 3.85 Billion by 2028, growing at a CAGR of 4.1% from 2021 to 2028.

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Browse in-depth TOC on "Cooling Tower Market"

202 - Pages
126 – Tables
37 – Figures

Global Cooling Tower Market Overview

A cooling tower, as the name suggests, is used for cooling purposes as it discards extra or waste heat. Based on the type of air induction, there are two types of cooling towers: natural draft and induced draft cooling towers. Cooling towers either use water to cool the working fluid near wet-bulb air temperature or air to cool the working fluid near dry-bulb air temperature. Cooling towers come in various shapes and sizes, based on the consumer's needs. Large cooling towers such as Hyperboloid cooling towers are generally used in power generation units.

Due to the various applications of cooling towers in industries such as construction, air conditioning, manufacturing, and power generation, their demand is huge. Growing industrialization and urbanization have also increased the demand for advanced cooling towers such as HVACR systems, especially in the construction and manufacturing systems. In the coming future, the growing demand for cooling towers in developing countries and technological developments in the field are estimated to boost the market further.

Verified Market Research® narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interests the client. The "Global Cooling Tower Market" is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market.

Key Players

The "Global Cooling Tower Market" study report will provide valuable insight with an emphasis on the global market.  The major players in the market are SPX Corporation, Baltimore Aircoil Company, Evapco Inc., Bell Cooling Tower, Brentwood Industries Inc., Enexio, Star Cooling Towers Private Ltd., SPIG S.p.A., Paharpur Cooling Towers, and Hamon & Cie International SA.

Based on the research, Verified Market Research® has segmented the global Cooling Tower Market into Type, Application, and Geography.

• Cooling Tower Market, by Type
• Evaporative Cooling Tower
• Dry Cooling Tower
• Hybrid Cooling Tower

• Cooling Tower Market, by Application
• Chemicals
• Petrochemicals and oil & gas
• HVACR
• Food & beverages
• Power generation
• Others

• Cooling Tower Market, by Geography
• North America
• U.S
• Canada
• Mexico
• Europe
• Germany
• France
• U.K
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• Rest of Asia Pacific
• ROW
• Middle East & Africa
• Latin America

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