The "Field Erected Cooling Tower Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The field-erected cooling tower market is expected to grow at a CAGR of more than 2% over the forecast period.
The COVID-19 pandemic has impacted the industrial and energy sectors across the globe as a whole. The sudden shutdowns in the industrial sectors, where a large portion of field-erected cooling towers are deployed and the reduction in demand for oil & gas has affected the studied market.
However, post COVID-19 impacts, the growth in industrial activities that require cooling towers such as petroleum refineries, petrochemical plants, and other manufacturing industries, and stringent environmental regulations are expected to drive the demand for field-erected cooling towers market globally.
However, the increasing demand for alternative energy like renewable energy sources as the concerns over carbon emission increasing results in less operation of conventional power plants, which uses field-erected cooling towers. This, in turn, is likely to restrain the growth of the studied market.
The wet type segment is expected to hold the largest share in the market during the forecast period.
Increasing energy production from nuclear power is expected to offer lucrative opportunities to the market players in the near future.
Asia-Pacific is expected to dominate the market owing to the increased industrial activities and energy demand in the region over the forecast period.
Key Market Trends
Wet Type Segment to Dominate the Market
Wet-type cooling towers are very much preferred owing to the high effectiveness of cooling in nuclear and thermal power plants as well as the simple accessibility of water. The benefits of a wet cooling tower mainly are there is no need for electrical or mechanical elements, negligible maintenance cost, and large water loading capability.
The growth is primarily attributed to upgrades in utility infrastructure, growing investments in the industrial sector, and related government regulations in various countries, which is likely to continue during the forecast period.
In terms of design, mechanical draft wet field-erected cooling towers hold the largest share in the market owing to its use in a wide range of cooling applications such as power plants, industrial processes, refining, manufacturing, and HVAC.
Wet cooling towers offer an outstanding performance by taking full advantage of the ambient air humidity. Wet cooling, also called evaporative cooling, is a technology that can generate outstanding fuel-saving and carbon emission reduction. Therefore, it is more preferred by the end-users of different industries.
The field erected cooling tower market is fragmented. Some of the major players in the market include ENEXIO Management GmbH, SPX Cooling Technologies, Inc, Towertech Cooling System Pvt. Ltd, Watco Group, and Paharpur Cooling Towers LTD.
Key Topics Covered:
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.2 Market Size and Demand Forecast in USD billion, till 2026
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.6 Supply Chain Analysis
4.7 Porter's Five Force Analysis
5 MARKET SEGMENTATION
5.3.1 Power Generation
5.3.3 Oil & Gas
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 ENEXIO Management GmbH
6.3.2 Towertech Cooling System Pvt. Ltd
6.3.3 Watco Group Ltd
6.3.4 Paharpur Cooling Towers LTD
6.3.5 SPX Cooling Technologies, Inc.
6.3.6 Hamon & Cie International SA
6.3.7 Babcock & Wilcox Enterprises, Inc.
6.3.8 Evapco, Inc.
6.3.9 Cyrco, inc
6.3.10 Marley Flow Control Pty Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/skpzea
View source version on businesswire.com: https://www.businesswire.com/news/home/20210517005439/en/
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