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Tremendous rise in construction activities coupled with rapid industrialization anticipated to drive cooling towers market.

HYDERABAD, TELANGANA, INDIA, October 26, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the cooling towers market is expected to reach $5.1 Billion by 2026 at a CAGR of 5.6% during the forecast period 2021-2026, owing to the rapid industrialization, and surge in deployment of various types of equipment for cooling towers to avoid wear and tear is analyzed to drive the market. In addition, cooling towers are being predominantly adopted in industries such as HVAC, manufacturing, renewable energy power plant, cold storage and others. Moreover the need for frequent cooling of industrial equipment and buildings is fuelling the growth of Cooling Towers market in the forecast period 2021-2026. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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https://www.industryarc.com/Report/15885/cooling-tower-market.html

Key Takeaways:

This IndustryARC report on the cooling towers market highlights the following areas -

Cross Flow Tower segment in Cooling Tower is growing at a CAGR of 5.93% in the forecast period owing to the investments made by government and companies for expansion of certain industries such as Chemical, Pharmaceutical Plant and so on are analyzed to drive the market.

Hybrid Cooling is growing at a highest CAGR of 7.52% in the forecast period. These cooling towers are a good mix of wet and dry cooling with a favorable environmental effect and meet challenging environmental specifications.

The rising number of construction activities across the commercial and residential sectors in this region is anticipated to drive product demand.

Cooling Tower top 10 companies include SPX Corporation, Johnson control Inc, Baltimore Aircoil Company, ENEXIO, Hamon Axisparc, B&W SPIG, Samco Technologies, Inc., Brentwood Industries, Inc, Paharpur Cooling Towers Ltd, and Star Cooling Towers among others.

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Segmental Analysis:

Cooling Tower Market Segment Analysis - By Type: Hybrid Cooling is growing at a highest CAGR of 7.52% in the forecast period. These cooling towers are a good mix of wet and dry cooling with a favourable environmental effect and meet challenging environmental specifications. The applications of hybrid cooling technology include energy, petrochemical, chemical, metallurgy, plastic and rubber, paper and manufacturing industry is analysed to drive the market in the forecast period 2020-2025.

Cooling Tower Market Segment Analysis - By Form: Cross Flow Tower in Cooling Tower is growing at a CAGR of 5.93% in the forecast period. In cross flow towers the water flows vertically through the fill while the air flows horizontally, across the flow of the falling water.

Cooling Tower Market Segment Analysis - By Region: North America dominated by U.S has a significant share in Cooling Tower market in the forecast period owing to the presence of major industries in this region. Moreover significant collaborations by companies is also analyzed to drive the market.

Competitive Landscape:
The top 5 players in the cooling towers industry are -
1. SPX Corporation
2. Johnson control Inc
3. Baltimore Aircoil Company
4. ENEXIO
5. Hamon Axisparc

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