The
global field-erected cooling tower market is poised to expected to compound
annual growth rate (CAGR) of 4.5% from 2017 to 2023 finds Market Research
Future (MRFR).
Cool
towers find application in various industrial domains. These towers maintain a
constant temperature in industrial settings. Owing to their cooling application
they often called as heat rejection device. The technology of cooling towers
has evolved tremendously over time, which is marked by the arrival of advanced
cooling systems. Most of the current generation of field-erected cooling towers
use water as the main cooling agent owing to its viability.
Some
of the prominent industries that require cooling towers include power
generation, iron & steel & metallurgy, petrochemicals & oil &
gas, and paper mills. Towers that are used in these industries are designed for
high performance heat rejection capacity. They come in massive sizes and are
robust. The design consists of pultruded structural components, which support
consistent cooling and ensures quality, safety and reliability. The structural
pultrusion in field-erected cooling tower require high durability and strength
to endure the outer tension. For this purpose, fiberglass is used in cooling
towers as the material has high resistance to a wide range of natural issues
such as corrosion, and aging or deterioration. A detailed analysis report of COVID-19 impact on
Field-Erected Cooling Tower Market Size is provided with the report.
Competition Analysis
Some
of the top-notch companies discussed in MRFR’s report include ENEXIO Management
GmbH (Germany), Baltimore Aircoil Company, Inc. (U.S.), Babcock & Wilcox
Enterprises, Inc. (U.S.), Delta Cooling Towers P. Ltd. (India), International
Cooling Tower Inc. (U.S.), Cycro, inc. (U.S.), SPX Cooling Technologies, Inc.
(U.S.), STAR Cooling Towers (U.S.), Hamon & Cie (International) SA
(Belgium), Composite Cooling Solutions, L.P. (U.S), Paharpur Cooling Towers
Ltd. (India), Evapco, Inc. (U.S.), Evaptech, Inc. (U.S.), Brentwood Industries,
Inc. (U.S.) and Mesan (U.S.)
Global Field-Erected Cooling Tower
Market: Segmental Analysis
The
report includes a comprehensive segmental analysis of the Field-Erected Cooling Tower Market based on design, type, end-user and region.
On
the basis of design, the market has been segmented into induced draft, forced
draft and natural draft. The induced draft segment currently accounts for the
largest market share and is expected to witness a strong growth during the
assessment period. Induced draft tower maintain a constant air flow regardless
of the atmospheric change.
On
the basis of type, the market has been segmented into hybrid, dry and wet. Of
these, the wet segment is expected to retain its dominant market position
throughout the assessment period. Preference for wet type cooling is relatively
higher owing to widespread availability of water and high operational efficacy.
Moreover, cost-benefits associated with wet cooling makes it an attractive
option.
Based
on the end-user, the market has been segmented into petrochemicals & oil
& gas, paper mills, power generation, iron & steel & metallurgy and
others. The power generation segment is expected to remain highly attractive
during the forecast period. Field-electric cooling towers play an important
component role in power plants. There are several components in the plant that
require constant cooling which is made possible through field-erected cooling
towers.
Regional Analysis
Asia
Pacific is most valued market for field-erected cooling tower. It is projected
that the market in APAC will exhibit the highest growth during the forecast
period (2017-2022). APAC is led by China and this trend is expected to continue
throughout the assessment period. Presence of a vast population base, rising
demand for energy, industrial growth and rapid urbanization are some of the
factors influencing the market in the region. Moreover, increased efforts
towards utility infrastructure upgradation coupled with growing foreign direct
investment and favourable regulatory landscape is supporting the market growth
in APAC.
Get Complete Field-Erected Cooling Tower Market
Research Report at: https://www.marketresearchfuture.com/reports/field-erected-cooling-tower-market-5871
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