Lucintel Blog: Cooling Tower Market is anticipated to grow at a CAGR of 4% to 6% during 2023-2028

Tuesday, February 14, 2023

Cooling Tower Market is anticipated to grow at a CAGR of 4% to 6% during 2023-2028

The global cooling tower market is projected to reach $XX billion by 2028, at a CAGR of 4% to 6% during 2023-2028. The growth of cooling tower market is driven by rising construction activities with advanced technologies, growing investments in industrial sector, and rise in HVACR deployments.

Some of the Key Questions answered in this exclusive report are:

Q.1 What are some of the most promising, high-growth opportunities for the cooling tower market by product type (evaporative cooling tower, dry cooling tower, and hybrid cooling tower), technology (open circuit, close circuit, and hybrid circuit), material (concrete, steel, FRP, and wood), application (power generation, HVACR, food & beverages, chemical, petrochemical and oil & gas, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2 Which segments will grow at a faster pace and why?

Q.3 What are the business risks and threats to the cooling tower market?

Q.4 What are some changing demands of customers in the cooling tower market?

Q.5 What are the new developments in the cooling tower market? Which companies are leading these developments?

Q.6 What strategic initiatives are being implemented by key players for business growth?

Q.7 What are some of the competitive products and processes in this cooling tower area and how big of a threat do they pose for loss of market share via product substitution?

Q.8 What M&A activity has occurred in the last 5 years in this cooling tower market?

Download Brochure of this report by clicking on https://www.lucintel.com/cooling-tower-market.aspx.

Market Segmentation:

Based on product type, the cooling tower market is segmented into evaporative cooling tower, dry cooling tower, and hybrid cooling tower. The evaporative cooling tower segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to its ability to perform reliable operations in hot ambient conditions, reduced noise pollution, lower maintenance costs, high performance, and energy efficiency.

APAC will remain the largest region due to the growing focus on nuclear power plant construction, rising number of manufacturing facilities, and expansion of the industrial sector in this region.

Key Players in the cooling tower market are SPX Corporation, Baltimore Aircoil, Evapco, Bell Cooling Tower, Brentwood Industries, Enexio, Star Cooling Tower, SPIG S.p.A., Paharpur Cooling Tower, and Hamon & Cie International SA.

Request Sample Pages by clicking on https://www.lucintel.com/cooling-tower-market.aspx.

The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.

To read more about this market please click on https://www.lucintel.com/cooling-tower-market.aspx.

About Lucintel

Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.

Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751

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