Insights on the Competitive North American Cooling Towers Market to 2027 - Oil Refineries and Commercial Segment Expected to Drive Growth
DUBLIN, Dec. 7, 2022 /PRNewswire/ -- The "2022 North American Cooling Towers: OEM and Rental Markets" report has been added to ResearchAndMarkets.com's offering.
This study aims to provide a detailed analysis of the North American Cooling Towers Market along with qualitative trends for the year 2021.
The OEM market for cooling towers is expected to witness a CAGR of over 4.0 percent and the rental market is expected to witness a double-digit growth rate.
The market numbers included in this report represent revenues generated by companies operating in the cooling towers market in the United States and Canada, both manufacturing and rental. The base year for the study is 2021 and the forecast period is from 2021 until 2028. The report captures the growth drivers, restraints, market trends, market share by revenue, and the competitive landscape.
The North American Cooling Towers: OEM and Rental Markets are competitive with the presence of local, regional, and national market participants trying to gain market share and maintain a foothold in the market. The OEM market is mature and projected to experience slow growth during the next seven years, while the rental market is in a growth stage with a double-digit CAGR projected over the forecast period.
A cooling tower is defined as a heat rejection device which extracts heat in the atmosphere through the cooling of a water stream to a lower temperature. Evaporative heat rejection devices, such as cooling towers, are commonly used to provide significantly lower water temperatures than achievable with "air cooled" or "dry" heat rejection devices, such as the radiator in a car, allowing for more cost effective and energy efficient operation of systems in need of cooling.
For the purposes of this study, the analysis was focused on the cooling tower projects. Chillers, air conditioners, and spot coolers were considered out of scope for this study and have been excluded from the analysis.
This study captures the following information:
- Market Size, Growth Rate, and Revenue Forecasts (2021-2028)
- Growth Drivers and Restraints
- Market Data
- Quotes by Industry Participants
- Market Share Analysis
- Market Trends
Companies Featured:
- Major rental market participants include: Aggreko, plc., Sunbelt Rentals, Midwest Cooling Tower Services, LLC, United Rentals, Carrier Rentals, Trane Rental Services, and Caterpillar, Inc., among others.
- Major OEM market participants include: SP Cooling Technologies, Inc., Evapco, Inc., Baltimore Aircoil Company, Cooling Tower Depot, Inc., and International Cooling Tower, Inc., among others.
Key trends within the market include environmentally responsible cooling systems, remote monitoring and pre-assembled cooling towers. Some of the key drivers within the market include investments, increasing construction activities, high demand from data centers, and aging infrastructure. Cooling towers with advanced, modular designs are often constructed of heavy mill galvanized or stainless steel and are growing at a higher rate as compared to field-erected cooling towers.
End users prefer buying cooling towers as compared to renting. The rental solution is short-term and considered very expensive. For any critical operation, where stable operating temperatures are required, end users generally buy more cooling towers than they need as a backup rather than renting. Aggreko led the rental market in 2021, followed by Sunbelt in second place.
Competitive market - The North American cooling towers market is highly competitive. The OEM market was led by SPX Cooling Technologies, Inc. in 2021. Wet cooling towers are most commonly used in the market. They are considered to be environmentally-friendly and have better efficiency as compared to dry cooling towers. Wet cooling towers made up more than 80 percent share by revenue in 2021.
For the purposes of this study, the North American Cooling Towers: OEM and Rental Markets analysis was focused on the cooling tower projects. Chillers, air conditioners, and spot coolers were considered out of scope for this study and have been excluded from the analysis. The base year for the study is 2021 and the forecast period is from 2021 until 2028.
This study captures the following information on the North American Cooling Towers Market: Market Size, Growth Rate, Revenue Forecasts (2021-2028), Growth Drivers & Restraints, Market Share Analysis by End users, by Cooling Towers Type, by Cooling Towers Form, by Country, by Cooling Towers Capacity, by Cooling Towers Construction, by Service, and Others, Rental Market Forecasts (2021-2028) and Market Estimations, Market Trends, and Quotes by Key Industry Participants.
Key Topics Covered:
I. Research scope, methodology, definition
II. Segmentation by capacity, by end user, by type, by form
III. Executive summary
a. Major data points: OEM
b. Major data points: Rental
c. OEM revenues (2021 & 2028)
d. Rental revenues (2021 & 2028)
e. Major trends
f. Market drivers
g. Market restraints
h. Top three market participants: OEM
i. Top three market participants: Rental
j. Competitive factors
IV. Market drivers
V. Market restraints
VI. Market trends
a. Environmentally friendly
b. Reduced water consumption
c. Pre-assembled cooling towers
d. Reducing energy and installation costs
e. Reduced maintenance
f. Use of permanent magnet motors
g. Remote monitoring systems
h. Innovative product
i. Certifications
VII. OEM market data
a. OEM market revenues (2021-2028)
b. Market revenue forecast (2021-2028)
c. Market share by company, 2021
d. Market share by end user (commercial, oil refineries, petrochemicals, power & utility, metals manufacturing, pulp & paper mills, pharmaceutical, data centers, semiconductors, others), 2021
e. Market share by type (wet cooling towers vs. dry cooling towers vs hybrid cooling towers), 2021
f. Market share by capacity (below 3000 tons vs. 3000-8000 tons vs. above 8000 tons), 2021
g. Market share by form (counter flow vs. cross flow vs. passive draft vs. induced draft vs. natural draft), 2021
h. Market share by construction (field-erected vs. factory assembled), 2021
i. Market share by cooling (process cooling vs. comfort cooling), 2021
j. Market share by service (maintenance vs. replacement vs. new installation), 2021
VIII. Quotes on the rental market
IX. Rental market data
a. Rental market revenues (2021-2028)
b. Market revenue forecast (2021-2028)
c. Market share by company, 2021
d. Market share by end user (petrochemicals, power & utility, commercial, education buildings, healthcare, events, others), 2021
e. Market share by capacity (below 500 tons, 500-1000 tons, 1001-2000 tons, above 2000 tons), 2021
f. Market share by air cooled vs. water cooled, 2021
Companies Mentioned
- Advantage Engineering Inc.
- Aggreko plc.
- Amcot Cooling Tower Co
- American Cooling Tower Inc.
- Babcock & Wilcox Enterprises Inc.
- Baltimore Aircoil Company
- Berg Chilling Systems Inc.
- Bondtech Corp.
- Brentwood Industries Inc
- Carrier Rentals
- Caterpillar Inc
- Cooling Tower Depot Inc
- Cooling Tower Systems Inc.
- Cooling Towers LLC
- Delta Cooling Tower
- Ershigs Inc.
- Evapco Inc.
- Herc Rentals
- International Cooling Tower Inc
- J.E. Johnson Inc.
- Midwest Cooling Tower Services LLC
- Midwest Cooling Towers Inc.
- Noya Inc.
- OBR Cooling Towers Inc.
- Pioneer Air Systems Inc.
- Power Mechanical
- Pre-Heat Inc.
- Resolute Industrial Holdings LLC
- REYMSA COOLING TOWERS Inc
- Samco Technologies Inc.
- SP Cooling Technologies Inc.
- SPX Cooling Technologies Inc.
- Star Cooling Towers
- Sunbelt Rentals
- Thermal Care Inc.
- Total Environmental Management Inc.
- Trane Rental Services
- United Metal Products
- United Rentals
For more information about this report visit https://www.researchandmarkets.com/r/cfjkau
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