Cooling Tower Market Growth Forecast at 4.2% CAGR to 2020
PUNE, India, February 25, 2016 /PRNewswire/ --
Increasing investments in power and HVACR industries drive the cooling tower market growth with HVACR being the fastest-growing application and rising demand from Asia-Pacific leading the geographic segment. The market size of cooling tower is estimated to reach USD 2.88 billion by 2020, at a CAGR of 4.2%.
Complete report on global cooling tower market spread across 139 pages, profiling 10 companies and supported with 50 tables and 58 figures is now available at http://www.reportsnreports.com/reports/402791-cooling-towers-market-by-type-dry-evaporative-hybrid-by-application-chemical-petrochemical-and-oil-gas-hvacr-food-beverage-power-generation-and-region-trends-forecast-to-2020.html .
Cooling towers are relatively inexpensive and are considered as a reliable means of removing low-grade heat. The cooling tower market is spread across a wide range of end-use industries, including nuclear & thermal power plants, petroleum refineries, petrochemical plants, food processing plants, and HVACR. Therefore, the market is set to grow with the growth in other related industries in the coming years.
HVACR application is estimated to register the highest CAGR between 2015 and 2020. The high growth is attributed to the growing building & construction industry and increased government investments in infrastructure projects resulting in installation of HVACR systems. In 2015, the HVACR segment accounted for the second largest market share among all applications, in terms of value, followed by food & beverage, chemical, petrochemicals and oil & gas.
In 2015, Asia-Pacific is estimated to have been the largest cooling tower market in terms of value. It is estimated to retain the market leadership in the next five years.
China and India are the two major markets of cooling tower in Asia-Pacific. The Chinese power industries have the largest share in Asia-Pacific resulting in an increased growth of market. Also, a high growth in the commercial building & construction industry, high-end real estate, and energy-saving policies are likely to drive the demand for cooling tower in both China and India.
The key companies profiled in this market research report are Baltimore Aircoil Company (U.S.), Bell Cooling Tower (India), Brentwood Industries Inc. (U.S.), Enexio (Germany), Hamon & Cie International SA (Belgium), Johnson Controls Inc. (U.S.), Paharpur Cooling Towers (India), SPIG S.p.A. (Italy), SPX Corporation (U.S.), and Star Cooling Towers Private Ltd. (India). Order a copy of Cooling Tower Market by Type (Dry, Evaporative, Hybrid), by Design (Natural, Mechanical), by Construction Material (Concrete, Steel, FRP, Others), by Application (Power, HVACR, Food & Beverages, Others), by Region - Trends & Forecasts to 2020 research report at http://www.reportsnreports.com/purchase.aspx?name=402791 .
This report segments the cooling tower market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across different verticals and regions. The report helps the stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
This report will help stakeholders understand the competitors and gain more insights to improve their position in the business. The competitive landscape section includes new product developments, expansions, agreements & contracts partnerships, acquisitions, and joint ventures.
On a related note, another research on Heat Recovery Steam Generator Market Global Trends & Forecast to 2020 says, the heat recovery steam generator market is expected to reach a value of USD 888.20million by 2020, at a CAGR of 3.7% from 2015 to 2020. The utilities segment would dominate the global market. Europe is the largest market for heat recovery steam generators. General Electric Company (U.S.), Siemens AG (Germany), Amec Foster Wheeler plc. (U.K.), Babcock & Wilcox Company (U.S.),CMI Group (Belgium), and Doos an Engineering & Construction Co., Ltd. (South Korea) among others have been profiled in this 137 pages research report available at http://www.reportsnreports.com/reports/473875-heat-recovery-steam-generator-market-by-rated-power-up-to-30-mw-30-mw-by-application-combined-cycle-chp-by-end-user-utilities-chemicals-refineries-pulp-paper-commercial-others-and-by-region-global-trends-forecast-to-2020.html.
Explore more reports on Manufacturing & Construction market at http://www.reportsnreports.com/market-research/manufacturing/ .
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