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Pulished Date April, 2021
ID: 11431
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Cooling Towers market segmentation By Type ( Evaporative Cooling, Hybrid Cooling, Dry Cooling) By Form ( Natural draft cooling towers, Cross towers, Counterflow towers, Hyperbolic cooling towers, Induced draft cooling towers, Passive draft cooling towers, Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2021-2026.

Pulished: April, 2021
ID: 11431
Pages: 175

Cooling Towers Market Size, Trends & Growth (2021 - 2026)

Cooling towers are used to maintain the temperature in chillers for a number of industrial applications. The device is mainly used in the manufacturing and power generation industries to keep the environment cool. The basic task of cooling towers is to remove heat and maintain a cool temperature. Thermal regulation can be maintained in air conditioning systems by using a cooling tower. They have a number of applications such as power generation, manufacturing, HVACR, food, and beverage, etc.

The increasing deployment of HVACR systems in commercial establishments, as well as increased investment for industrial development, will drive market growth. Favorable government policies due to the development of low-emission technologies and the expansion of a sustainable cooling network will promote product penetration. Additionally, vigorous growth in power generation and continued reliance on coal-based production will drive growth in the industry.

Recent Developments:

  • The executives of Paharpur Cooling Towers (P) Ltd pronounced a lockout at its Calcutta production line on Wednesday morning.
  • ENEXIO, one of the world's leading providers of power plant cooling systems, will relaunch its service area to meet the growing volume of services.

Drivers and Restraints of Cooling Towers Market:


Factors such as high electricity consumption and the growing need for energy efficiency in various application areas are expected to drive demand from this market during the forecast period. Furthermore, the increasing number of construction activities around the world is a key factor that is expected to have a positive impact on the growth of the market. Technological advancements aimed at increasing energy efficiency and reducing environmental concerns associated with conventional cooling systems are expected to open new avenues for industry growth during the forecast period.


On the other hand, environmental concerns associated with cooling towers, including plume and drift, are expected to moderate their adoption. However, the emergence of attenuated column towers and drift eliminators will likely help overcome these concerns and drive demand for hybrid towers in the future.

Cooling Towers Market Segmentation:

By Type:

  • Evaporative cooling
  • Hybrid cooling
  • Dry cooling

Hybrid cooling is growing at a higher CAGR of 7.52% during the forecast period. These cooling towers are a good combination of wet and dry cooling with a favorable environmental effect and meet strict environmental specifications. They help reduce vapor drift (the "vapor plume," particularly visible in cold, humid climates and in winter, when it can cause ice formation). Removal of the vapor plume is particularly beneficial in urban areas, industrial areas, and near roads with the potential for icing. In addition, hybrid cooling towers reduce water consumption and provide the total heat rate according to customer needs. In addition, this module consists of reducing the temperature of the cooling water, using the ambient air before the water enters the wet section. The hot air from the dry cooling mixes with the saturated air from the wet section, thus removing the steam column. Hybrid cooling technology applications include energy, petrochemicals, chemicals, metallurgy, plastics, and rubber, and the paper and manufacturing industry is analyzed to drive the market during the forecast period 2020-2025.

By Form:

  • Natural draft cooling towers
  • Cross towers
  • Counterflow towers
  • Hyperbolic cooling towers
  • Induced draft cooling towers
  • Passive draft cooling towers
  • Others

The cross-stream tower in the cooling tower is developing at a CAGR of 5.93% during the figure time frame. In cross-stream towers, water streams vertically through the fill while wind currents evenly through the falling water stream. This kind of cooling tower 

Cooling Towers Market Region-wise analysis:

Marked Segmentation based on the region:

  1. North America
    1. U.S
    2. Canada
  2. Europe
    1. Norway
    2. Germany
    3. Sweden

On the other hand, the growth of the European market can be attributed to strict government regulations on the use of these towers and the increasing number of heavy industries in the region. The growing presence of the oil and gas industries in the Middle East and Africa is expected to have a favorable impact on market growth in the same region.

  1. Asia Pacific
    1. China
    2. India
    3. Japan

The Asia-Pacific region had the largest market share and accounted for more than 20% of revenues in 2016, closely followed by Europe. In addition, the region is estimated to be the fastest growing market for cooling towers, registering a CAGR of more than 5.0% from 2017 to 2025. The increasing number of manufacturing facilities is expected, as well as the expansion of the industrial sector in Asia-Pacific to stimulate demand for these towers in this region. In addition, the increasing focus of the Asia-Pacific region on nuclear power plant construction is also expected to contribute positively to market demand during the forecast period.

  1. Latin America
    1. Brazil
    2. Mexico
    3. Argentina
  2. Middle East and Africa

a. Middle East

b. Africa

Key Players of Market:

Prominent players operating across the cooling tower market includes ENEXIO, Paharpur Cooling Tower, Haman, SPX Cooling, Baltimore, SPIG, Johnson Controls, Delta, Thermal Care, Thermax, Reymsa, International Cooling, BERG, Brentwood, Bell, ENGIE, Perfect and Star Cooling.


The COVID-19 pandemic has halted the production of various products in the cooling tower market industry, mainly due to the prolonged lockdown in major countries around the world. This has significantly hampered the growth of the cooling tower market in recent months as it will likely continue into 2020. COVID-19 has already affected sales of equipment and machinery in the first quarter of 2020 and is likely to have a negative impact on market growth throughout the year.

1. Introduction                            

          1.1 Market Definition                  

          1.2 Scope of the report               

          1.3 Study Assumptions               

          1.4 Base Currency, Base Year and Forecast Periods              

2. Research Methodology                      

          2.1 Analysis Design          

          2.2 Research Phases                   

                    2.2.1 Secondary Research 

                    2.2.2 Primary Research     

                    2.2.3 Data Modelling        

                    2.2.4 Expert Validation     

          2.3 Study Timeline            

3. Report Overview                     

          3.1 Executive Summary               

          3.2 Key Inferencees          

4. Market Dynamics                    

          4.1 Impact Analysis           

                    4.1.1 Drivers

                    4.1.2 Restaints       

                    4.1.3 Opportunities 

          4.2 Regulatory Environment                  

          4.3 Technology Timeline & Recent Trends                  

5. Competitor Benchmarking Analysis                        

          5.1 Key Player Benchmarking                 

                    5.1.1 Market share analysis         

                    5.1.2 Products/Service      

                    5.1.3 Regional Presence    

          5.2 Mergers & Acquistion Landscape               

          5.3 Joint Ventures & Collaborations                 

6. Market Segmentation                        

          6.1 Cooling Towers Market, By Type                

                    6.1.1 Evaporative cooling  

                    6.1.2 Hybrid cooling         

                    6.1.3 Dry cooling    

                    6.1.4 Market Size Estimations & Forecasts (2021-2026)        

                    6.1.5 Y-o-Y Growth Rate Analysis         

                    6.1.6 Market Attractiveness Index         

          6.2 Cooling Towers Market, By Form               

                    6.2.1 Natural draft cooling towers         

                    6.2.2 Cross towers 

                    6.2.3 Counterflow towers  

                    6.2.4 Hyperbolic cooling towers  

                    6.2.5 Induced draft cooling towers        

                    6.2.6 Passive draft cooling towers         

                    6.2.7 Others 

                    6.2.8 Market Size Estimations & Forecasts (2021-2026)        

                    6.2.9 Y-o-Y Growth Rate Analysis         

                    6.2.10 Market Attractiveness Index       

7. Geographical Landscape                    

          7.1 Global Identity Governance and Administration Market, by Region                   

          7.2 North America - Market Analysis (2018 - 2024)             

                    7.2.1 By Country     



                    7.2.2 By Type         

                    7.2.3 By Form         

          7.3 Europe             

                    7.3.1 By Country     






                     Rest of Europe

                    7.3.2 By Type         

                    7.3.3 By Form         

          7.4 Asia Pacific                 

                    7.4.1 By Country     




                     South Korea

                     South East Asia

                     Australia & NZ

                     Rest of Asia-Pacific

                    7.4.2 By Type         

                    7.4.3 By Form         

          7.5 Latin America             

                    7.5.1 By Country     




                     Rest of Latin America

                    7.5.2 By Type         

                    7.5.3 By Form         

          7.6 Middle East and Africa          

                    7.6.1 By Country     

                     Middle East


                    7.6.2 By Type         

                    7.6.3 By Form         

8. Key Player Analysis                           

          8.1 ENEXIO             

                    8.1.1 Business Description

                    8.1.2 Products/Service      

                    8.1.3 Financials      

                    8.1.4 SWOT Analysis         

                    8.1.5 Recent Developments         

                    8.1.6 Analyst Overview      

          8.2 Paharpur Cooling Tower                  

          8.3 Haman             

          8.4 SPX Cooling                

          8.5 Baltimore          

          8.6 SPIG                 

          8.7 Johnson Controls                  

          8.8 Delta                

          8.9 Thermal Care              

          8.10 Thermax                   

          8.11 Reymsa          

9. Market Outlook & Investment Opportunities                     


          List of Tables          

          List of Figures                  

  • Global, Regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
  • The segment-level analysis in terms of by type, by application, by end-user, along with market size forecasts and estimations to detect key areas of industry growth in detail
  • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
  • Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
  • Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
  • A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
  • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
  • An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
  • Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
  1. Global Cooling Towers Market By Region, From 2021-2026 ( USD Billion )
  2. Global Cooling Towers Market By Type, From 2021-2026 ( USD Billion )
  3. Global Evaporative cooling Market By Region, From 2021-2026 ( USD Billion )
  4. Global Hybrid cooling Market By Region, From 2021-2026 ( USD Billion )
  5. Global Dry cooling Market By Region, From 2021-2026 ( USD Billion )
  6. Global Cooling Towers Market By Form, From 2021-2026 ( USD Billion )
  7. Global Natural draft cooling towers Market By Region, From 2021-2026 ( USD Billion )
  8. Global Cross towers Market By Region, From 2021-2026 ( USD Billion )
  9. Global Counterflow towers Market By Region, From 2021-2026 ( USD Billion )
  10. Global Hyperbolic cooling towers Market By Region, From 2021-2026 ( USD Billion )
  11. Global Induced draft cooling towers Market By Region, From 2021-2026 ( USD Billion )
  12. Global Passive draft cooling towers Market By Region, From 2021-2026 ( USD Billion )
  13. Global Others Market By Region, From 2021-2026 ( USD Billion )

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