The report "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", The market size of cooling tower is estimated to grow from USD 2.34 Billion in 2015 to USD 2.88 Billion by 2020, at a CAGR of 4.2%. The market is driven by the rising HVACR deployments, increasing power generation capacities, and rise in technological advances in cooling towers. Asia-Pacific and RoW are estimated to witness a strong growth in the next five years. The demand across these regions is reinforced by the emerging markets, namely, China and India.
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Browse 75 market data Tables and 56 Figures spread through 152 Pages and in-depth TOC on "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"
Asia-Pacific, North America, Europe, and RoW are considered as the main regions for the cooling tower market in the report.
Asia-Pacific dominates the cooling tower market owing to increased demand from the HVACR application segment. Rising population, industrialization, and growing concerns related to infrastructure development have significantly increased the growth of the region’s building & construction industry, which consequently has triggered the demand for cooling tower. Power generation and HVACR are the top two applications contributing to the growing demand for cooling tower in Asia-Pacific. Europe is the second largest market for cooling tower globally.
