Cooling tower is a heat rejection device that removes the unwanted heat from the cooling system in the atmosphere. Cooling tower is used to cool the water circulating in the cooling system. The circulating water is cooled either by evaporation or by blowing air to the warm water. Cooling towers are widely used in different industries such as chemical, oil and gas, food processing, power generation plants and other air-conditioning applications. Cooling towers help in saving large amount of water as it cools and circulates water continuously throughout the cooling system. Rising need for energy efficient cooling towers across different industries is the major factor driving the cooling towers market globally. Furthermore, growing manufacturing industry and large number of upcoming power plant projects are further to bolster the demand for cooling towers during the forecast period.
The cooling towers market is segmented based on the types of cooling towers, heat transfer method, applications and geographic regions. The basic types of cooling towers are open cooling towers and closed circuit cooling towers. Different heat transfer methods used in cooling towers are evaporative cooling, dry cooling and hybrid (a combination of evaporative and dry cooling method) cooling method. The cooling towers market is segmented based on its applications as Heating, ventilation, and air conditioning (HVAC), power generation utilities and manufacturing industries. On the basis of geographic regions, cooling towers market is segmented into Western Europe, Eastern Europe, Asia Pacific excluding Far East, Southern Africa, North America and Rest of the World (RoW). RoW comprises South America, Middle East, North Africa and Far East.
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The most common cooling towers worldwide are the open type. The most important factor bolstering the demand for open cooling towers is their efficient, economical, and simple design. However, closed circuit cooling towers enable minimum contamination and evaporation of water. This, in turn, reduces the overall water loss in the cooling process. But, closed circuit cooling towers offer these features at the expense of high cost. Hence, closed circuit cooling towers have seen limited adoption in applications where cost is not a major constraint and in the regions with ample fresh water.
Based on the heat transfer method, cooling towers are classified into evaporative/wet, dry, and hybrid types. The evaporative heat transfer method works on a principle analogous to perspiration. The circulating warm water is first distributed on a fill pack and then cooled by blown air. During this process, a small amount of water is evaporated, whereas the remaining water is collected at the cooling tower lower base. This water is re-circulated in the system for cooling purposes. The dry cooling method uses the natural air present in the atmosphere for cooling instead of water. Dry cooling towers do not require mid-heat exchangers as required in closed circuit cooling towers. This cooling method is analogous to the function of a radiator that uses the air in the atmosphere for cooling purposes. As a result of these features, dry cooling towers involve less maintenance and has a higher average life expectancy. Hybrid cooling towers have the advantages and disadvantages of both dry and wet cooling towers. They incorporate both the evaporative and dry cooling units at the end-point of the closed or open circuit cooling towers. This enables a reduction in the visible plume formed during evaporative cooling. Additionally, hybrid cooling towers can save approximately over 50% of the water as compared to wet cooling towers. Consequently, hybrid towers have seen wide adoption in recent times and are expected to drive the cooling towers market during the forecast period.
This 128-page report gives readers a comprehensive overview of the Cooling Towers (Evaporative, Dry and Hybrid) Market. Browse to unlock the hidden opportunities in this market@
The research report on the cooling towers market provides a detailed analysis of types and heat transfer methods used in these towers and helps in understanding the major driving forces of cooling towers in different industries. It also provides analysis of the applications of cooling towers market for the next five years. The report includes extensive analysis of the industry drivers, restraints, market trends and market structure. The market study provides comprehensive assessment of stakeholder strategies and imperatives for succeeding in the business. The report segregates cooling towers market based on heat transfer methods used in cooling towers and different geographic regions. The report includes a detailed analysis of the prevalent market situation, company profiles and industry trends of the cooling towers used across different industrial and commercial applications.
The detailed value chain analysis helps the market competitors to formulate their business strategies at every stage of their business. Moreover, the market estimates have been analyzed by keeping in mind the several factors which affect the market including but not limited to technological, economical, social, environmental and legal.