Global Field-Erected Cooling Tower Market
Analysis
The
global Field-Erected Cooling Tower
Market is estimated to grow at 4.5% CAGR during the forecast period.
The
field-erected cooling tower is specially designed to cool water by extracting
heat and transmit to the surrounding atmosphere. This process is majorly done
through evaporative cooling technology. The field-erected cooling tower is also
called a heat rejection device, which helps in rejecting heat to the atmosphere
by utilizing cooler water as a transfer medium. The field-erected cooling tower
is prominently used for various application in industries, such as oil
refineries, petrochemical, paper mills, thermal power, and others for heat
rejection and rejuvenating the working fluid quality. A
detailed analysis report of COVID-19
impact on Field-Erected Cooling Tower Market Analysis is provided with the
report.
Global Field-Erected Cooling Tower Market
Segmentation
The
global field-erected cooling tower market has been segmented based on type,
design, end-user, and region.
Based
on type, the market is segmented into wet, dry, and hybrid. By design, the
market is segmented into natural draft, forced draft, and induced draft. Based
on end-user, the market is segmented into power generation, petrochemicals
& oil & gas, iron & steel & metallurgy, paper mills, and others.
The global field-erected cooling tower market is anticipated to have a vast
number of developments through the forecast period, owing to incessant
technological advancements in the energy sector, coupled with growing power
demand. The market is likely to have high expansion activities by multinational
and well-established firms. Mergers and acquisition are expected to be seen
during the forecast period with several contracts and agreements between top
EPC and governments across the globe.
Asia Pacific Field-Erected Cooling Tower
market, expected to grow at the highest CAGR
The
global field-erected cooling tower market is segmented into four prominent
regions, namely Asia Pacific, North America, Europe, and Rest of the World. The
Asia Pacific region is expected to grow at the highest CAGR during the forecast
period. This growth is accredited to growing industrialization, urbanization,
and increasing renewable power generation capacity in the region. Prominent
countries such as China, Japan, and India are driving the field-erected cooling
tower market in the Asia Pacific region. North America and Europe held a
substantial market share in 2016 and are expected to witness a stagnant growth
over the forecast period. This growth is prominently attributed to the rise in
nuclear and thermal power plants. Moreover, the growing industrialization has
resulted in creating a productive market for the field-erected cooling tower.
Prominent Players
The
key players of global field-erected cooling tower market are SPX Cooling
Technologies, Inc. (U.S.), ENEXIO Management GmbH (Germany), Hamon & Cie
(International) SA (Belgium), Baltimore Aircoil Company, Inc. (U.S.), Paharpur
Cooling Towers Ltd. (India), Babcock & Wilcox Enterprises, Inc. (U.S.),
Brentwood Industries, Inc. (U.S.), Delta Cooling Towers P. Ltd. (India),
Evapco, Inc. (U.S.), International Cooling Tower Inc. (U.S.), Mesan (U.S.),
Evaptech, Inc. (U.S.), Composite Cooling Solutions, L.P. (U.S), Cycro, inc.
(U.S.), and STAR Cooling Towers (U.S.).
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