Cooling Tower Market
Cooling Tower Market Size and Growth
The global cooling tower market is expected to see substantial growth, driven by increasing industrialization, urbanization, and the rising need for efficient cooling solutions in power generation and HVAC systems. In 2023, the cooling tower market was valued at approximately USD 2.4 billion and is projected to grow at a CAGR of 5.2% from 2023 to 2030. By 2030, the market is expected to reach USD 3.9 billion.
Companies Covered : (Covid-19 Impact Covered)
o SPX Corporation
o Baltimore Aircoil Company
o Evapco Inc
o Hamon Group
o Delta Cooling Towers
During the COVID-19 pandemic, the cooling tower market faced some challenges due to the temporary shutdown of manufacturing plants and delayed construction projects. However, the demand for cooling towers in sectors like healthcare (for HVAC systems) and power generation remained resilient. As industries adapted to new safety protocols, the market recovered, and companies began to focus more on energy-efficient, sustainable cooling tower solutions to comply with post-pandemic environmental regulations.
Cooling Tower Market Segmentation
Product
