Cooling Tower Market 2024 Future Growth, Business Prospects, Future Developments and Business Segments

The global Cooling Tower market is experiencing significant growth due to rising industrialization and demand for energy-efficient cooling systems across various sectors like power generation, HVAC, and manufacturing. Key market trends include the shift toward hybrid cooling towers and the integration of IoT for improved operational efficiency.
The cooling tower market size is projected to grow from USD 3.0 billion in 2024 to USD 3.9 billion by 2029, registering a CAGR of 5.3% during the forecast period. The global demand for cooling towers [https://www.marketsandmarkets.com/Market-Reports/cooling-towers-market-268219049.html?utm_source=abnewswire.com&utm_medium=referral&utm_campaign=coolingtowers] is on the rise due to burgeoning industrial activities, particularly in emerging economies, necessitating efficient thermal management systems. Moreover, the escalating construction of infrastructure, including power plants and commercial buildings, fuels the need for reliable cooling solutions.

The cooling tower market is expected to continue to grow in the coming years due to the factors mentioned above. The key players in the market are focusing on developing innovative and new products to meet the growing demand. They are also expanding their geographic reach to tap into new market players. They have adopted various strategies to ensure long-term growth and strengthen their market positions. These strategies enable them to efficiently meet the growing demand for type, design, construction material, flow type, technology, and application. Also, companies operating in this market, such as Baltimore Aircoil Company Inc. (US), John Cockerill (Belgium), SPX Technologies (US), Ebara Corporation (Japan), Evapco, Inc. (US), Krones AG (Germany), Babcock & Wilcox Enterprises Inc. (US), Seagull Cooling Tower Co., Ltd (Malaysia), Enexio (Germany), and Paharpur Cooling Tower Limited (India) adopt acquisitions, new product launches, agreements, expansions, collaborations, and partnerships to increase their market shares and expand their geographic presence.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=268219049 [https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=268219049&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=coolingtowers]

Baltimore Aircoil Company Inc. is one of the global leaders in the development of cooling towers. The company specializes in the design and manufacturing of evaporative cooling towers, thermal storage solutions, and heat transfer equipment. Its product portfolio encompasses a broad range of cooling towers, including closed-circuit and evaporative variants. Baltimore Aircoil Company Inc. excels in providing innovative evaporative cooling solutions aimed at optimizing energy efficiency across diverse industries. The company's cooling towers find extensive use in various sectors, including district cooling plants, HVAC systems, refrigeration, light and heavy industrial manufacturing, and chemical and petroleum processing applications.

John Cockerill stands as a prominent provider of cooling solutions. Specializing in the design and supply of top-tier cooling towers, including wet and wet-dry variants, as well as air-cooled condensers, the company excels in integrating these products with complementary equipment. In 2022, John Cockerill expanded its cooling portfolio by acquiring the cooling activities of the ex-Hamon group in various countries, including Belgium, France, Spain, South Korea, Indonesia, and the UK, solidifying its position as the sole successor of the ex-Hamon group. Operating across Energy, Hydrogen, Defense, Industry, and Environment segments, John Cockerill delivers cutting-edge cooling solutions primarily under the Energy segment. With a global footprint, the company boasts established teams in Belgium, France, Spain, the UK, Brazil, Saudi Arabia, Indonesia, and South Korea.

Get Sample Copy of this Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=268219049 [https://www.marketsandmarkets.com/requestsampleNew.asp?id=268219049&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=coolingtowers]

SPX Technologies is a global, diversified provider of infrastructure equipment with a robust presence in the heating, ventilation, and air conditioning (HVAC) systems, detection and measurement markets, and power and energy sectors. With operations in 15 countries, the company operates through two main business segments: HVAC, and Detection and Measurement. The HVAC segment includes a range of products such as residential and commercial boilers, packaged and process cooling equipment, engineered air movement solutions, and comfort heating and ventilation products. Through its HVAC business segment and subsidiary, SPX Cooling Tech, LLC, the company offers a variety of cooling towers. SPX Technologies maintains a global presence, with operations in North America, South America, Europe, the Middle East and Africa, and the Asia Pacific regions.

EVAPCO, Inc. is an employee-owned manufacturing firm that provides global solutions for heat transfer applications. Specializing in the design and manufacture of products for industrial refrigeration and evaporative cooling, the company offers cutting-edge cooling towers, including evaporative, hybrid, adiabatic, and dry models. These products cater to various industries such as power generation, oil and gas processing, and food processing. EVAPCO, Inc. focuses on serving the power generation, commercial HVAC, industrial process (including data centers), and industrial refrigeration markets with its innovative solutions. The company has a strong global presence, with sales offices and manufacturing facilities in numerous locations worldwide. EVAPCO products are engineered and produced in approximately 36 facilities across 14 countries and are distributed through a network of over 200 sales offices.

Inquire Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=268219049 [https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=268219049&utm_source=abnewswire.com&utm_medium=referral&utm_campaign=coolingtowers]

Babcock & Wilcox Enterprises Inc. is one of the leading global providers of cooling towers. Babcock & Wilcox provides a diverse array of cooling solutions for various industries, including petrochemical, steel and metals, food processing, pulp and paper, oil and gas, power generation, and district heating and cooling. The company also offers services such as equipment upgrades, online performance monitoring, preventive maintenance, replacement and spare parts, and is dedicated to the research and development of efficient cooling systems. Through SPIG Cooling Systems, Babcock & Wilcox operates across three main areas: wet cooling systems (mechanical and natural draft), dry cooling systems, and hybrid cooling solutions. The company maintains a strong presence in the cooling tower market, especially in North America, Europe, and South America, with additional operations in the Middle East and Asia Pacific.

About MarketsandMarkets Trademark

MarketsandMarkets Trademark has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets Trademark is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore Trademark (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

Media Contact
Company Name: MarketsandMarkets Trademark Research Private Ltd.
Contact Person: Mr. Rohan Salgarkar
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=cooling-tower-market-2024-future-growth-business-prospects-future-developments-and-business-segments]
Phone: 18886006441
Address:1615 South Congress Ave. Suite 103, Delray Beach, FL 33445
City: Florida
State: Florida
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/cooling-towers-market-268219049.html



This release was published on openPR.