SAN FRANCISCO, Sept. 28, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Cooling Towers - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 16; Released: April 2021
Executive Pool: 467
Companies: 180 - Players covered include Babcock & Wilcox SPIG; Baltimore Aircoil Company; BELL COOLING TOWERS; BERG Chilling Systems, Inc.; Brentwood Industries, Inc.; Composite Cooling Solutions; Cooling Tower Depot, Inc.; Cooling Tower Systems, Inc.; Delta Cooling Towers, Inc.; Enexio; ENGIE Refrigeration GmbH; Evapco, Inc.; Evaptech, Inc.; Ilmed Impianti Srl; International Cooling Tower; Kelvion Holding GmbH; Liang Chi Industry (Thailand) Co., Ltd.; Mesan Cooling Tower Ltd.; Paharpur Cooling Towers Limited; REYMSA COOLING TOWERS, Inc.; Ryowo Holding Co., Ltd.; SPX Cooling Technologies, Inc.; Star Cooling Towers; Superchill Australia Pty Ltd.; Thermal Care, Inc. and Others.
Coverage: All major geographies and key segments
Segments: End-Use (Heavy Industrial & Utility, Air Conditioning/HVAC, Chemicals & Petrochemicals, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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Global Cooling Towers Market to Reach $4.8 Billion by 2026
Amid the COVID-19 crisis, the global market for Cooling Towers estimated at US$4 Billion in the year 2020, is projected to reach a revised size of US$4.8 Billion by 2026, growing at a CAGR of 2.9% over the analysis period. Heavy Industrial & Utility, one of the segments analyzed in the report, is projected to record a 3.1% CAGR and reach US$2.2 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Air Conditioning/HVAC segment is readjusted to a revised 3.4% CAGR for the next 7-year period.
The U.S. Market is Estimated at $1.1 Billion in 2021, While China is Forecast to Reach $947.9 Million by 2026
The Cooling Towers market in the U.S. is estimated at US$1.1 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$947.9 Million by the year 2026 trailing a CAGR of 5.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.3% CAGR.
Chemicals & Petrochemicals Segment to Reach US$890.3 Million by the year 2026
In the global Chemicals & Petrochemicals segment, USA, Canada, Japan, China and Europe will drive the 1.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$597.5 Million in the year 2020 will reach a projected size of US$664.7 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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