Field-Erected
Cooling Tower Market
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.
Global
Field-Erected Cooling Tower Market: Segmental Analysis
The report includes a comprehensive segmental analysis of the
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.
Global
Field-Erected Cooling Market: 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.)
