冷却塔市場レポート：塔タイプ、フロータイプ、設計、建設材料、エンドユーザー、地域別、2024～2032年

世界の冷却塔市場規模は2023年に30億米ドルに達しました。今後、IMARC Groupは、2024～2032年にかけての成長率（CAGR）は3.9％を示し、2032年には43億米ドルに達すると予測しています。同市場は、エネルギーコストの上昇とエネルギー支出に関連する懸念、さまざまな産業事業におけるサステイナブル対策の採用の増加、デジタル技術とクラウドコンピューティングの統合の増加などを背景に、着実な成長を遂げています。

冷却塔市場分析：

主要市場促進要因：市場促進要因：市場促進要因のひとつに、気象パターンの変化が挙げられます。さらに、老朽化したインフラをアップグレードする必要性が高まっており、これが成長を促す要因となっています。

主要市場動向：エネルギー効率重視の高まりと産業拡大が市場の主要動向です。

地理的動向：報告書によると、アジア太平洋が明確な優位性を示しており、最大の市場シェアを占めています。これは、発電部門の繁栄と相まって、放熱と運用効率維持の必要性が高まっているためです。

競合情勢：冷却塔業界には、Babcock &Wilcox Enterprises Inc.、Baltimore Aircoil Company Inc.（Amsted Industries Inc.）、Brentwood Industries Inc.、Delta Cooling Towers Inc.、ENEXIO Management GmbH、Hamon Corporation（Hamon &Cie）、International Cooling Tower Inc.、Johnson Controls Inc.、SPX Cooling Technologies Inc.、Reymsa Cooling Towers Inc.、Thermal Care Inc.

課題と機会：水不足や厳しい節水規制とともに、個人の間で高まっている健康と安全への懸念は、市場の大きな課題です。それにもかかわらず、節水とリサイクルへの注目の高まりと、スマート技術とコネクテッド技術の統合は、同市場における主要な機会となっています。

冷却塔市場傾向：

エネルギー効率への注目の高まり

エネルギーコストの上昇により、企業は省エネルギーを重視しています。冷却塔は、発電施設、HVACシステム、産業作業によって発生する熱を放散させるため、必要不可欠です。革新的な冷却塔は、経済的で環境に優しいソリューションへのニーズの高まりを受けて、メーカーによって開発されています。市場開拓者は、エネルギー効率を最大化するために、優れた材料と技術を駆使して最先端のシステムを開発しています。さらに、可変周波数駆動装置（VFD）を搭載した冷却塔は、冷却負荷に応じてファンの回転数を変更できるため、エネルギーの節約につながります。さらに、熱性能を維持しながら水の使用量を削減することで、ハイブリッド冷却塔はより高い効率を実現します。企業が二酸化炭素排出量と運転経費の削減を求める中、エネルギー効率の高い冷却塔の需要は増加しています。2023年3月20日、Babcock & Wilcox（B&W）は、B&W環境事業部門が中東のクリーン水素製造施設向けに2つの冷却システムを設計・供給する契約を900万米ドル以上で獲得したと発表しました。B&W 環境事業部門は、SPIG（R）ガラス繊維強化ポリマー（FRP）冷却塔2基を供給し、再生可能エネルギー源を使用して水素を製造するプラントに効率的で低排出ガスな冷却を記載しています。

産業の拡大

新興国を中心とした産業活動の拡大が、冷却塔市場の成長を後押ししています。効果的な冷却システムは、データセンター、製造、石油化学、電力生産など、さまざまな産業にとって、製品の品質と操業効率を維持するために不可欠です。新興国では急速な工業化と都市化が進み、電力、製造品、インフラに対する需要が増加しています。生産活動や発電の際に発生する余剰熱を分散させるために、効率的な冷却ソリューションが求められています。冷却塔は、温度を制御することで、産業施設の継続的な操業を維持する上で重要な役割を果たしています。さらに、デジタル技術とクラウドコンピューティングがもたらすデータセンターセグメントの複雑化により、高密度サーバーから発生する熱負荷を管理できる冷却ソリューションの必要性が加速しています。IMARC Groupは、世界のデータセンター市場規模が2032年までに4,618億米ドルに達すると予測しています。

厳しい環境規制

各国の政府機関は、節水や排出規制に関連する厳しい環境規制を実施しており、冷却塔市場の展望は明るいです。水不足に対処し、揮発性有機化合物（VOC）を含む汚染物質の排出を抑制するために、厳しい基準が義務付けられています。冷却塔は、水を大量に消費する性質があるため、こうした規制に関連しています。節水義務に対応するため、冷却塔メーカーは、従来の蒸発式冷却システムと比較して水の消費量を削減できる乾式冷却塔などの革新的なソリューションを開発しています。こうした節水技術は、産業界が規制要件を満たすのに役立つだけでなく、サステイナブル取り組みにも貢献します。さらに、排出規制は有害な汚染物質の大気への放出を最小限に抑えることを目的としています。冷却塔は、粒子状物質やその他の物質を排出することで、大気質の課題を助長する可能性があります。この懸念に対処するため、最新の冷却塔には高度な濾過システムと大気質制御装置が装備され、排出基準を確実に遵守しています。2023年11月28日、ハイドロリープはシンガポールを拠点とするデータセンターの機械・電気（M&E）インフラソリューションの大手プロバイダーであるIX技術（IXT）との戦略的パートナーシップを発表しました。これは、冷却塔の水管理を変革し、データセンター業界の組織が水の消費量を削減し、化学物質の使用量を減らし、二酸化炭素排出量を削減し、規制コンプライアンスを改善できるようにすることを目的としています。

冷却塔市場セグメンテーション：

IMARC Groupは、2024～2032年までの世界、地域、国レベルでの冷却塔市場予測とともに、市場の各セグメントにおける主要動向の分析を提供しています。当レポートでは、塔タイプ、フロータイプ、設計、建設材料、エンドユーザーに基づいて市場を分類しています。

塔タイプ別内訳

開回路式冷却塔

閉回路式冷却塔

ハイブリッド冷却塔

開回路式冷却塔が市場シェアの大半を占める

本レポートでは、塔のタイプ別に市場を詳細に区分・分析しています。これには開回路式冷却塔、閉回路式冷却塔、ハイブリッド式冷却塔が含まれます。同レポートによると、開回路式冷却塔が最大のセグメントを占めています。

開回路式冷却塔は、プロセス水と周囲の空気を直接接触させる開放的な設計が特徴です。開回路式冷却塔は、特に重工業や発電所など、さまざまな産業用途で採用されています。また、リーズナブルな価格で、大量の熱を放散するのに優れていることでも知られています。蒸発が継続的に発生するため、一定の水の供給に依存します。

フロータイプ別内訳

クロスフローが業界最大シェア

本レポートでは、フロータイプ別の市場の詳細区分と分析も行っています。これにはクロスフローとカウンターフローが含まれます。報告書によると、クロスフローが最大の市場シェアを占めています。

クロスフロー冷却塔は、小型で効果的な構造で有名です。水と空気の流れが互いに直交することで、効率的な熱交換を促進します。この冷却塔は、中小規模産業、商業ビル、HVACシステムなど、多様な産業用途で利用されています。これらの塔は、信頼性が高く、メンテナンスが簡単であるという評判を得ています。その費用対効果の高さから広く受け入れられており、冷却システムの手頃な価格と性能のバランスを求める部門に好まれるソリューションとなっています。

設計別内訳

市場セグメンテーション：メカニカルドラフト冷却塔が主要セグメント

本レポートでは、市場を設計別に詳細に区分・分析しています。これには、機械ドラフト冷却塔と自然ドラフト冷却塔が含まれます。同レポートによると、メカニカルドラフト冷却塔が最大セグメントです。

メカニカルドラフト冷却塔は、ファンやブロワーのような機械部品を利用して塔内に空気の流れを作り、熱交換プロセスを強化します。柔軟性があり、変動する環境条件下でも安定した性能を維持できるため、産業界で広く使用されています。気流を正確に制御できるため、特殊な冷却条件を必要とする用途に適しています。効率的な冷却が不可欠な発電所、製造施設、HVACシステムでよく見られます。機械式ドラフト冷却塔の優位性は、その適応性、信頼性、効率的な熱性能を提供する能力に起因しています。2023年8月21日、ジョン・コケリル・ハモンは、カタールの世界最大の天然ガス鉱床に世界最大の誘引通風冷却塔を建設すると発表しました。

建設材料別内訳

繊維強化プラスチック（FRP）が市場で明確な優位性を示す

建設材料別の市場の詳細区分と分析も報告書に記載されています。これには、繊維強化プラスチック（FRP）、スチール、コンクリート、木材、高密度ポリエチレン（HDPE）、その他が含まれます。報告書によると、繊維強化プラスチック（FRP）が最大の市場シェアを占めています。

繊維強化プラスチック（FRP）製冷却塔は、耐久性、耐腐食性、軽量性で知られています。FRPは、ポリマーマトリックスと強化繊維（通常はガラスまたはカーボン）を組み合わせた複合材料です。FRP冷却塔は、過酷な環境条件や刺激的な化学薬品に耐えることができるため、さまざまな産業で使用されています。メンテナンスの必要性が低く、寿命が長いため、費用対効果の高い選択肢となっています。FRPは、幅広い用途に信頼性の高い冷却ソリューションを提供できます。

エンドユーザー別内訳

発電が市場を独占

本レポートでは、市場をエンドユーザー別に詳細に区分・分析しています。これには、化学、HVAC、石油化学・石油・ガス、発電、飲食品、その他が含まれます。報告書によると、発電が最大のセグメントを占めています。

発電は、発電中に発生する熱を放散するために冷却塔に依存しています。石炭発電所、天然ガス発電所、原子力発電所、再生可能エネルギー発電所のいずれにおいても、冷却塔は安全な運転温度を維持するために不可欠です。その効率的な熱除去能力は、発電所の継続的で信頼性の高い運転を保証するために不可欠です。発電部門における冷却塔のニーズは、世界の電力需要の増加によってもたらされています。

地域別内訳

アジア太平洋が市場をリードし、最大のシェアを占める冷却塔市場

本レポートでは、北米（米国、カナダ）、アジア太平洋（中国、日本、インド、韓国、オーストラリア、インドネシア、その他）、欧州（ドイツ、フランス、英国、イタリア、スペイン、ロシア、その他）、ラテンアメリカ（ブラジル、メキシコ、その他）、中東アフリカを含む主要地域市場についても包括的に分析しています。報告書によると、アジア太平洋は冷却塔の最大地域市場です。

アジア太平洋では、製造業や石油化学のような様々な産業活動が、熱を放散し作業効率を維持するための冷却塔の需要を促進しています。これに加えて、政府の積極的な取り組みが市場の成長を後押ししています。さらに、特にインドと中国における発電産業の隆盛は、この地域における最近のビジネス機会を象徴しています。例えば、India Climate and Energy Dashboard（ICED）によると、インドでは2024年4月30日時点で総電力設備容量が442.77GWを記録しています。

競合情勢：

調査市場レポートは、市場の競合情勢についても包括的な分析を行っています。すべての主要企業の詳細プロファイルも提供されています。冷却塔業界の主要市場企業には、Babcock &Wilcox Enterprises Inc.、Baltimore Aircoil Company Inc.（Amsted Industries Inc.）、Brentwood Industries Inc.、Delta Cooling Towers Inc.、ENEXIO Management GmbH、Hamon Corporation（Hamon &Cie）、International Cooling Tower Inc.、Johnson Controls Inc.、SPX Cooling Technologies Inc.、Reymsa Cooling Towers Inc.、Thermal Care Inc.（IPEG Inc.）、Thermax Limited（RDA Holdings Private Limited）などがあります。

（なお、これは主要参入企業の一部であり、完全なリストは報告書に記載されている）。

市場の主要参入企業は、競合を維持するためにいくつかの戦略的取り組みを行っています。これらの取り組みには、冷却塔の効率と持続可能性を高めるための継続的な研究開発（R&D）が含まれ、先進的な材料や技術を取り入れることに重点を置いています。さらに主要企業は、新興市場への参入、製品ポートフォリオの多様化、冷却塔市場収益の拡大を図るため、M&Aやパートナーシップを通じて世界的プレゼンスを拡大しています。さらに、発電、石油化学、データセンターなど、さまざまな業界の特定のニーズを満たすためにカスタマイズ型ソリューションを提供することが重視されるようになり、市場の成長を支えています。このような顧客中心のアプローチにより、主要企業は独自の冷却課題に対処し、冷却ソリューションの信頼できるプロバイダーとして市場での地位を強化しています。2023年4月21日、モジュール式蒸発冷却装置の世界的リーダーであるBaltimore Aircoil Company（BAC）は、AISTech 2023で鉄鋼業界向けの革新的な冷却塔ソリューション一式を展示しました。

冷却塔市場最近の動向：

2023年2月、メリーランド州を拠点とするBaltimore Aircoil Company（BAC）は、ジョージア州アトランタのGeorgia World Congress Center（GWCC）で開催されたInternational Air-Conditioning, Heating, Refrigeration Exposition（AHR Expo）で、超臨界CO2（R744）システムや断熱排熱のハイブリッド冷却ソリューションに広く使用されているCO2（R744）断熱コンデンサー/ガスクーラーを展示しました。

2023年11月29日メッツォは、蒸発によって高温の炉外ガスを冷却するよう設計された、効率的な乾式ガス洗浄ソリューションである、改良型蒸発冷却塔を発表しました。蒸発冷却塔には、ガスを約600～700℃から約200～350℃に冷却する高温電気集塵装置またはバグフィルターが続きます。塔は乾式で運転され、添加された水はすべて蒸発します。

2023年10月19日、フルサービスの冷却塔・空冷式熱交換器メーカーであるSPX Cooling Tech社は、米国で製造されるSPX Cooling Tech製品の生産能力増強に焦点を当てた資本計画の一環として、スプリングフィールドに製造施設を開設し、60人以上の新規雇用を創出しました。

本レポートで扱う主要質問

• 世界の冷却塔市場はこれまでどのように推移してきたか？
• 世界市場における促進要因、抑制要因、機会は何か？
• それぞれの促進要因、抑制要因、機会が世界市場に与える影響は？
• 主要な地域市場とは？
• 最も魅力的な市場はどの国か？
• 塔タイプ別の市場内訳は？
• 市場で最も魅力的な塔タイプは？
• フロータイプ別の市場内訳は？
• 市場で最も魅力的なフロータイプは？
• 設計別の市場内訳は？
• 市場で最も魅力的な設計は？
• 建設材料別の市場内訳は？
• 市場で最も魅力的な建材は？
• エンドユーザー別の市場内訳は？
• 市場で最も魅力的なエンドユーザーは？
• 市場の競合構造は？
• 世界の冷却塔市場における主要参入企業は？

目次

第1章 序文

第2章 調査範囲と調査手法

• 調査の目的
• ステークホルダー
• データソース
  • 一次情報
  • 二次情報
• 市場推定
  • ボトムアップアプローチ
  • トップダウンアプローチ
• 調査手法

第3章 エグゼクティブサマリー

第4章 イントロダクション

• 概要
• 主要業界動向

第5章 世界の冷却塔市場

• 市場概要
• 市場実績
• COVID-19の影響
• 市場予測

第6章 市場内訳：塔タイプ別

• 開放型冷却塔
• 閉回路冷却塔
• ハイブリッド冷却塔

第7章 市場内訳：フロータイプ別

• クロスフロー
• カウンターフロー

第8章 市場内訳：設計別

• 機械式ドラフト冷却塔
• 自然通風冷却塔

第9章 市場内訳：建築材料別

• 繊維強化プラスチック（FRP）
• 鋼鉄
• コンクリート
• 木材
• 高密度ポリエチレン（HDPE）
• その他

第10章 市場内訳：エンドユーザー別

• 化学薬品
• 空調設備
• 石油化学と石油・ガス
• 発電
• 飲食品
• その他

第11章 市場内訳：地域別

• 北米
  • 米国
  • カナダ
• アジア太平洋
  • 中国
  • 日本
  • インド
  • 韓国
  • オーストラリア
  • インドネシア
  • その他
• 欧州
  • ドイツ
  • フランス
  • 英国
  • イタリア
  • スペイン
  • ロシア
  • その他
• ラテンアメリカ
  • ブラジル
  • メキシコ
  • その他
• 中東・アフリカ
  • 市場動向
  • 市場内訳：国別
  • 市場予測

第12章 SWOT分析

• 概要
• 強み
• 弱み
• 機会
• 脅威

第13章 バリューチェーン分析

第14章 ポーターのファイブフォース分析

• 概要
• 買い手の交渉力
• 供給企業の交渉力
• 競合の程度
• 新規参入業者の脅威
• 代替品の脅威

第15章 価格分析

第16章 競合情勢

• 市場構造
• 主要企業
• 主要企業のプロファイル
  • Babcock & Wilcox Enterprises Inc.
  • Baltimore Aircoil Company Inc.（Amsted Industries Inc.）
  • Brentwood Industries Inc.
  • Delta Cooling Towers Inc.
  • ENEXIO Management GmbH
  • Hamon Corporation（Hamon & Cie）
  • International Cooling Tower Inc.
  • Johnson Controls Inc.
  • SPX Cooling Technologies Inc.
  • Reymsa Cooling Towers Inc.
  • Thermal Care Inc.（IPEG Inc.）
  • Thermax Limited（RDA Holdings Private Limited）

List of Figures

• Figure 1: Global: Cooling Tower Market: Major Drivers and Challenges
• Figure 2: Global: Cooling Tower Market: Sales Value (in Billion US$), 2018-2023
• Figure 3: Global: Cooling Tower Market: Breakup by Tower Type (in %), 2023
• Figure 4: Global: Cooling Tower Market: Breakup by Flow Type (in %), 2023
• Figure 5: Global: Cooling Tower Market: Breakup by Design (in %), 2023
• Figure 6: Global: Cooling Tower Market: Breakup by Construction Material (in %), 2023
• Figure 7: Global: Cooling Tower Market: Breakup by End-User (in %), 2023
• Figure 8: Global: Cooling Tower Market: Breakup by Region (in %), 2023
• Figure 9: Global: Cooling Tower Market Forecast: Sales Value (in Billion US$), 2024-2032
• Figure 10: Global: Cooling Tower (Open-Circuit) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 11: Global: Cooling Tower (Open-Circuit) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 12: Global: Cooling Tower (Closed-Circuit) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 13: Global: Cooling Tower (Closed-Circuit) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 14: Global: Cooling Tower (Hybrid) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 15: Global: Cooling Tower (Hybrid) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 16: Global: Cooling Tower (Cross Flow) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 17: Global: Cooling Tower (Cross Flow) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 18: Global: Cooling Tower (Counter Flow) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 19: Global: Cooling Tower (Counter Flow) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 20: Global: Cooling Tower (Mechanical Draft) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 21: Global: Cooling Tower (Mechanical Draft) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 22: Global: Cooling Tower (Natural Draft) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 23: Global: Cooling Tower (Natural Draft) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 24: Global: Cooling Tower (Fiber-Reinforced Plastic-FRP) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 25: Global: Cooling Tower (Fiber-Reinforced Plastic-FRP) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 26: Global: Cooling Tower (Steel) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 27: Global: Cooling Tower (Steel) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 28: Global: Cooling Tower (Concrete) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 29: Global: Cooling Tower (Concrete) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 30: Global: Cooling Tower (Wood) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 31: Global: Cooling Tower (Wood) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 32: Global: Cooling Tower (High-Density Polyethylene-HDPE) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 33: Global: Cooling Tower (High-Density Polyethylene-HDPE) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 34: Global: Cooling Tower (Other Construction Materials) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 35: Global: Cooling Tower (Other Construction Materials) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 36: Global: Cooling Tower (Chemical) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 37: Global: Cooling Tower (Chemical) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 38: Global: Cooling Tower (HVAC) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 39: Global: Cooling Tower (HVAC) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 40: Global: Cooling Tower (Petrochemicals and Oil & Gas) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 41: Global: Cooling Tower (Petrochemicals and Oil & Gas) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 42: Global: Cooling Tower (Power Generation) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 43: Global: Cooling Tower (Power Generation) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 44: Global: Cooling Tower (Food and Beverages) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 45: Global: Cooling Tower (Food and Beverages) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 46: Global: Cooling Tower (Other End-Users) Market: Sales Value (in Million US$), 2018 & 2023
• Figure 47: Global: Cooling Tower (Other End-Users) Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 48: North America: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 49: North America: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 50: United States: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 51: United States: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 52: Canada: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 53: Canada: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 54: Asia Pacific: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 55: Asia Pacific: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 56: China: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 57: China: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 58: Japan: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 59: Japan: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 60: India: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 61: India: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 62: South Korea: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 63: South Korea: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 64: Australia: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 65: Australia: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 66: Indonesia: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 67: Indonesia: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 68: Others: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 69: Others: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 70: Europe: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 71: Europe: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 72: Germany: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 73: Germany: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 74: France: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 75: France: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 76: United Kingdom: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 77: United Kingdom: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 78: Italy: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 79: Italy: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 80: Spain: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 81: Spain: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 82: Russia: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 83: Russia: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 84: Others: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 85: Others: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 86: Latin America: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 87: Latin America: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 88: Brazil: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 89: Brazil: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 90: Mexico: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 91: Mexico: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 92: Others: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 93: Others: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 94: Middle East and Africa: Cooling Tower Market: Sales Value (in Million US$), 2018 & 2023
• Figure 95: Middle East and Africa: Cooling Tower Market Forecast: Sales Value (in Million US$), 2024-2032
• Figure 96: Global: Cooling Tower Industry: SWOT Analysis
• Figure 97: Global: Cooling Tower Industry: Value Chain Analysis
• Figure 98: Global: Cooling Tower Industry: Porter's Five Forces Analysis

List of Tables

• Table 1: Global: Cooling Tower Market: Key Industry Highlights, 2023 and 2032
• Table 2: Global: Cooling Tower Market Forecast: Breakup by Tower Type (in Million US$), 2024-2032
• Table 3: Global: Cooling Tower Market Forecast: Breakup by Flow Type (in Million US$), 2024-2032
• Table 4: Global: Cooling Tower Market Forecast: Breakup by Design (in Million US$), 2024-2032
• Table 5: Global: Cooling Tower Market Forecast: Breakup by Construction Material (in Million US$), 2024-2032
• Table 6: Global: Cooling Tower Market Forecast: Breakup by End-User (in Million US$), 2024-2032
• Table 7: Global: Cooling Tower Market Forecast: Breakup by Region (in Million US$), 2024-2032
• Table 8: Global: Cooling Tower Market Structure
• Table 9: Global: Cooling Tower Market: Key Players

The global cooling tower market size reached US$ 3.0 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.3 Billion by 2032, exhibiting a growth rate (CAGR) of 3.9% during 2024-2032. The market is experiencing steady growth driven by heightened energy costs and concerns associated with energy expenditure, rising adoption of sustainable measures in various industrial operations, and increasing integration of digital technologies and cloud computing.

Cooling Tower Market Analysis:

Major Market Drivers: One of the key market drivers includes changing weather patterns. Moreover, there is an increase in the need to upgrade aging infrastructure, which is acting as a growth-inducing factor.

Key Market Trends: The rising focus on energy efficiency and industrial expansion are main trends in the market.

Geographical Trends: As per the report, Asia Pacific exhibits a clear dominance, accounting for the biggest market share due to the increasing need to dissipate heat and maintain operational efficiency, coupled with the thriving power generation sector.

Competitive Landscape: Numerous players in the cooling tower industry include Babcock & Wilcox Enterprises Inc., Baltimore Aircoil Company Inc. (Amsted Industries Inc.), Brentwood Industries Inc., Delta Cooling Towers Inc., ENEXIO Management GmbH, Hamon Corporation (Hamon & Cie), International Cooling Tower Inc., Johnson Controls Inc., SPX Cooling Technologies Inc., Reymsa Cooling Towers Inc., Thermal Care Inc. (IPEG Inc.), Thermax Limited (RDA Holdings Private Limited), among many others.

Challenges and Opportunities: Rising health and safety concerns among individuals, along with water scarcity or stringent water conservation regulations, are major market challenges. Nonetheless, the increasing focus on water conservation and recycling and integration of smart and connected technologies represent key opportunities in the market.

Cooling Tower Market Trends:

Rising Focus on Energy Efficiency

Organizations are emphasizing energy conservation due to rising energy costs. Cooling towers are essential as they dissipate heat produced by power production facilities, HVAC systems, and industrial operations. Innovative cooling towers are developed by manufacturers in response to the increasing need for economical and eco-friendly solutions. Market players are developing cutting-edge systems by using superior materials and technology to maximize energy efficiency. Furthermore, cooling towers equipped with variable frequency drives (VFDs) can modify fan speeds in accordance with the cooling load, leading to energy savings. Additionally, by reducing water use while preserving thermal performance, hybrid cooling towers offer greater efficiency. As businesses seek to reduce their carbon footprint and operating expenses, the energy-efficient cooling tower demand increases. On 20 March 2023, Babcock & Wilcox (B&W) announced that its B&W Environmental business segment has been awarded a contract for more than US$ 9 Million to design and supply two cooling systems for a clean hydrogen production facility in the Middle East. B&W Environmental will supply two SPIG(R) fiberglass-reinforced polymer (FRP) cooling towers to provide efficient and low-emissions cooling for a plant that will use renewable energy sources to produce hydrogen.

Industrial expansion

The expansion of industrial activities, particularly in emerging economies, is propelling the cooling tower market growth. Effective cooling systems are essential for a variety of industries including data centers, manufacturing, petrochemicals, and power production, in order to preserve both product quality and operational effectiveness. Emerging economies are experiencing rapid industrialization and urbanization, leading to increased demand for electricity, manufactured goods, and infrastructure. Efficient cooling solutions are required to disperse surplus heat produced during production operations and power generation. Cooling towers play a crucial role in maintaining continuous operations in industrial facilities by controlling the temperature. In addition, the growing complexity in the data center sector brought by the digital technologies and cloud computing is accelerating the need for cooling solutions that can manage heat loads produced by high-density servers. The IMARC Group predicts that the global data center market size will hit US$ 461.8 Billion by 2032.

Stringent environmental regulations

Governing agencies of various countries are implementing stringent environmental regulations related to water conservation and emissions control, which is offering a positive cooling tower market outlook. They are mandating rigorous standards to address water scarcity and curb emissions of pollutants including volatile organic compounds (VOCs). Cooling towers are linked to these regulations due to their water-intensive nature. To comply with water conservation mandates, cooling tower manufacturers are developing innovative solutions such as dry cooling towers, which assist in reducing water consumption as compared to traditional evaporative cooling systems. These water-saving technologies not only help industries meet regulatory requirements but also contribute to sustainability efforts. Furthermore, emissions control regulations aim to minimize the release of harmful pollutants into the atmosphere. Cooling towers can contribute to air quality challenges through the emission of particulate matter and other substances. To address this concern, modern cooling towers are equipped with advanced filtration systems and air quality controls to ensure compliance with emission standards. On 28 November 2023, Hydroleap announced a strategic partnership with IX Technology (IXT), a leading Singapore-based provider of data center mechanical and electrical (M&E) infrastructure solutions. This is aimed at transforming water management in cooling towers and allowing organizations in the data center industry to reduce water consumption, lower chemical use, bring down the carbon footprint, and improve regulatory compliance.

Cooling Tower Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with cooling tower market forecast at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on tower type, flow type, design, construction material, and end-user.

Breakup by Tower Type:

Open-Circuit Cooling Towers

Closed-Circuit Cooling Towers

Hybrid Cooling Towers

Open-circuit cooling towers account for the majority of the market share

The report has provided a detailed breakup and analysis of the market based on the tower type. This includes open-circuit cooling towers, closed-circuit cooling towers, and hybrid cooling towers. According to the report, open-circuit cooling towers represented the largest segment.

The open design of open-circuit cooling towers permits direct contact between the process water and surrounding air, giving them their distinctive feature. Open-circuit cooling towers are employed in many different industrial applications, especially in the heavy manufacturing and power plant sectors. They are also well-known for being reasonably priced and excellent at dissipating substantial amounts of heat. They are dependent on a constant supply of water since evaporation occurs continuously.

Breakup by Flow Type:

Cross Flow

Counter Flow

Cross flow holds the largest share of the industry

A detailed breakup and analysis of the market based on the flow type have also been provided in the report. This includes cross flow and counter flow. According to the report, cross flow accounted for the largest market share.

Cross flow cooling towers are renowned for their small size and effective construction. They facilitate efficient heat exchange by having water and air flows that are perpendicular to one another. They are utilized in diverse industrial applications, including as small- to medium-sized industrial operations, commercial buildings, and HVAC systems. These towers have a reputation for being dependable and simple to maintain. Their cost-effectiveness is leading to their widespread acceptance, making them a preferred solution for sectors looking to balance cooling system affordability and performance.

Breakup by Design:

Mechanical Draft Cooling Tower

Natural Draft Cooling Tower

Mechanical draft cooling tower represents the leading market segment

The report has provided a detailed breakup and analysis of the market based on the design. This includes mechanical draft cooling tower and natural draft cooling tower. According to the report, mechanical draft cooling tower represented the largest segment.

Mechanical draft cooling towers rely on mechanical components such as fans or blowers to create airflow through the tower, enhancing the heat exchange process. They are widely used across industries because of their flexibility and ability to maintain consistent performance even in variable environmental conditions. They offer precise control over airflow, making them suitable for applications with specific cooling requirements. They are commonly found in power plants, manufacturing facilities, and HVAC systems where efficient cooling is essential. The dominance of mechanical draft cooling towers can be attributed to their adaptability, reliability, and ability to deliver efficient thermal performance. On 21 August 2023, John Cockerill Hamon announced that it would build the world's largest induced draft cooling tower for the world's largest natural gas deposit in Qatar.

Breakup by Construction Material:

Fiber-Reinforced Plastic (FRP)

Steel

Concrete

Wood

High-Density Polyethylene (HDPE)

Others

Fiber-reinforced plastic (FRP) exhibits a clear dominance in the market

A detailed breakup and analysis of the market based on the construction material have also been provided in the report. This includes fiber-reinforced plastic (FRP), steel, concrete, wood, high-density polyethylene (HDPE), and others. According to the report, fiber-reinforced plastic (FRP) accounted for the largest market share.

Fiber-reinforced plastic (FRP) cooling towers are known for their durability, corrosion resistance, and lightweight properties. FRP is a composite material that combines a polymer matrix with reinforcing fibers, typically glass or carbon. FRP cooling towers are used across various industries on account of their ability to withstand harsh environmental conditions and aggressive chemicals. Their low maintenance requirements and long lifespan make them a cost-effective choice. FRP can provide reliable cooling solutions for a wide range of applications.

Breakup by End-User:

Chemical

HVAC

Petrochemicals and Oil and Gas

Power Generation

Food and Beverages

Others

Power generation dominates the market

The report has provided a detailed breakup and analysis of the market based on the end-user. This includes chemical, HVAC, petrochemicals and oil and gas, power generation, food and beverages, and others. According to the report, power generation represented the largest segment.

Power generation relies on cooling towers to dissipate the heat generated during electricity production. Whether in coal, natural gas, nuclear, or renewable energy plants, cooling towers are integral for maintaining safe operating temperatures. Their efficient heat removal capabilities are essential for ensuring the continuous and reliable operation of power plants. The need for cooling towers in the power generation sector is driven by the growing need for electricity worldwide.

Breakup by Region:

North America

United States

Canada

Asia Pacific

China

Japan

India

South Korea

Australia

Indonesia

Others

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Others

Latin America

Brazil

Mexico

Others

Middle East and Africa

Asia Pacific leads the market, accounting for the largest cooling tower market share

The report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific represents the largest regional market for cooling tower.

In the Asia Pacific region, various industrial activities like manufacturing and petrochemicals are driving the demand for cooling towers to dissipate heat and maintain operational efficiency. Besides this, favorable government initiatives are bolstering the market growth. In addition, the thriving power generation industry, particularly in India and China, represent cooling tower market recent opportunities in the region. For instance, the India Climate and Energy Dashboard (ICED) stated that the total power installed capacity recorded 442.77 GW as of 30 April 2024 in India.

Competitive Landscape:

The research market report has also provided a comprehensive analysis of the competitive landscape in the market. Detailed profiles of all major companies have also been provided. Some of the major market players in the cooling tower industry include Babcock & Wilcox Enterprises Inc., Baltimore Aircoil Company Inc. (Amsted Industries Inc.), Brentwood Industries Inc., Delta Cooling Towers Inc., ENEXIO Management GmbH, Hamon Corporation (Hamon & Cie), International Cooling Tower Inc., Johnson Controls Inc., SPX Cooling Technologies Inc., Reymsa Cooling Towers Inc., Thermal Care Inc. (IPEG Inc.), and Thermax Limited (RDA Holdings Private Limited).

(Please note that this is only a partial list of the key players, and the complete list is provided in the report.)

Key players in the market are engaging in several strategic initiatives to maintain their competitive edge. These initiatives include continuous research and development (R&D) to enhance the efficiency and sustainability of cooling towers, with a focus on incorporating advanced materials and technologies. Additionally, top players are expanding their global presence through mergers and acquisitions (M&As) and partnerships to tap into emerging markets, diversify their product portfolios, and increase their cooling tower market revenue. Furthermore, the rising emphasis on providing customized solutions to meet the specific needs of various industries such as power generation, petrochemicals, and data centers is supporting the market growth. This customer-centric approach allows key players to address unique cooling challenges and strengthen their market position as trusted providers of cooling solutions. On 21 April 2023, Baltimore Aircoil Company (BAC), the global leader in modular evaporative cooling equipment, showcased its innovative suite of cooling tower solutions for the steel industry at AISTech 2023.

Cooling Tower Market Recent Developments:

3 February 2023: Baltimore Aircoil Company (BAC), a Maryland-based manufacturer showcased its CO2 (R744) adiabatic condenser/gas cooler, which is widely used in transcritical CO2 (R744) systems and hybrid cooling solutions on adiabatic heat rejection at the International Air-Conditioning, Heating, Refrigeration Exposition (AHR Expo) that held at the Georgia World Congress Center (GWCC) in Atlanta, Georgia.

29 November 2023: Metso launched its upgraded Evaporative Cooling Tower, an efficient dry gas cleaning solution designed to cool down hot furnace off-gases by means of evaporation. The evaporative cooling tower is followed by a hot electrostatic precipitator or a bag filter that cools the gas from about 600-700 °C to about 200-350 °C. The tower operates dry, meaning that all water added is evaporated.

On 19 October 2023: SPX Cooling Tech, a full-service cooling tower and air-cooled heat exchanger manufacturer, opened a manufacturing facility in Springfield, creating more than 60 new jobs as part of a capital plan focused on incremental capacity of SPX Cooling Tech products manufactured in the U.S.

Key Questions Answered in This Report:

• How has the global cooling tower market performed so far, and how will it perform in the coming years?
• What are the drivers, restraints, and opportunities in the global market?
• What is the impact of each driver, restraint, and opportunity on the global market?
• What are the key regional markets?
• Which countries represent the most attractive market?
• What is the breakup of the market based on the tower type?
• Which is the most attractive tower type in the market?
• What is the breakup of the market based on the flow type?
• Which is the most attractive flow type in the market?
• What is the breakup of the market based on the design?
• Which is the most attractive design in the market?
• What is the breakup of the market based on the construction material?
• Which is the most attractive construction material in the market?
• What is the breakup of the market based on the end-user?
• Which is the most attractive end-user in the market?
• What is the competitive structure of the market?
• Who are the key players/companies in the global cooling tower market?

Table of Contents

1 Preface

2 Scope and Methodology

• 2.1 Objectives of the Study
• 2.2 Stakeholders
• 2.3 Data Sources
  • 2.3.1 Primary Sources
  • 2.3.2 Secondary Sources
• 2.4 Market Estimation
  • 2.4.1 Bottom-Up Approach
  • 2.4.2 Top-Down Approach
• 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

• 4.1 Overview
• 4.2 Key Industry Trends

5 Global Cooling Tower Market

• 5.1 Market Overview
• 5.2 Market Performance
• 5.3 Impact of COVID-19
• 5.4 Market Forecast

6 Market Breakup by Tower Type

• 6.1 Open-Circuit Cooling Towers
  • 6.1.1 Market Trends
  • 6.1.2 Market Forecast
• 6.2 Closed-Circuit Cooling Towers
  • 6.2.1 Market Trends
  • 6.2.2 Market Forecast
• 6.3 Hybrid Cooling Towers
  • 6.3.1 Market Trends
  • 6.3.2 Market Forecast

7 Market Breakup by Flow Type

• 7.1 Cross Flow
  • 7.1.1 Market Trends
  • 7.1.2 Market Forecast
• 7.2 Counter Flow
  • 7.2.1 Market Trends
  • 7.2.2 Market Forecast

8 Market Breakup by Design

• 8.1 Mechanical Draft Cooling Tower
  • 8.1.1 Market Trends
  • 8.1.2 Market Forecast
• 8.2 Natural Draft Cooling Tower
  • 8.2.1 Market Trends
  • 8.2.2 Market Forecast

9 Market Breakup by Construction Material

• 9.1 Fiber-Reinforced Plastic (FRP)
  • 9.1.1 Market Trends
  • 9.1.2 Market Forecast
• 9.2 Steel
  • 9.2.1 Market Trends
  • 9.2.2 Market Forecast
• 9.3 Concrete
  • 9.3.1 Market Trends
  • 9.3.2 Market Forecast
• 9.4 Wood
  • 9.4.1 Market Trends
  • 9.4.2 Market Forecast
• 9.5 High-Density Polyethylene (HDPE)
  • 9.5.1 Market Trends
  • 9.5.2 Market Forecast
• 9.6 Others
  • 9.6.1 Market Trends
  • 9.6.2 Market Forecast

10 Market Breakup by End-User

• 10.1 Chemical
  • 10.1.1 Market Trends
  • 10.1.2 Market Forecast
• 10.2 HVAC
  • 10.2.1 Market Trends
  • 10.2.2 Market Forecast
• 10.3 Petrochemicals and Oil & Gas
  • 10.3.1 Market Trends
  • 10.3.2 Market Forecast
• 10.4 Power Generation
  • 10.4.1 Market Trends
  • 10.4.2 Market Forecast
• 10.5 Food and Beverages
  • 10.5.1 Market Trends
  • 10.5.2 Market Forecast
• 10.6 Others
  • 10.6.1 Market Trends
  • 10.6.2 Market Forecast

11 Market Breakup by Region

• 11.1 North America
  • 11.1.1 United States
    • 11.1.1.1 Market Trends
    • 11.1.1.2 Market Forecast
  • 11.1.2 Canada
    • 11.1.2.1 Market Trends
    • 11.1.2.2 Market Forecast
• 11.2 Asia Pacific
  • 11.2.1 China
    • 11.2.1.1 Market Trends
    • 11.2.1.2 Market Forecast
  • 11.2.2 Japan
    • 11.2.2.1 Market Trends
    • 11.2.2.2 Market Forecast
  • 11.2.3 India
    • 11.2.3.1 Market Trends
    • 11.2.3.2 Market Forecast
  • 11.2.4 South Korea
    • 11.2.4.1 Market Trends
    • 11.2.4.2 Market Forecast
  • 11.2.5 Australia
    • 11.2.5.1 Market Trends
    • 11.2.5.2 Market Forecast
  • 11.2.6 Indonesia
    • 11.2.6.1 Market Trends
    • 11.2.6.2 Market Forecast
  • 11.2.7 Others
    • 11.2.7.1 Market Trends
    • 11.2.7.2 Market Forecast
• 11.3 Europe
  • 11.3.1 Germany
    • 11.3.1.1 Market Trends
    • 11.3.1.2 Market Forecast
  • 11.3.2 France
    • 11.3.2.1 Market Trends
    • 11.3.2.2 Market Forecast
  • 11.3.3 United Kingdom
    • 11.3.3.1 Market Trends
    • 11.3.3.2 Market Forecast
  • 11.3.4 Italy
    • 11.3.4.1 Market Trends
    • 11.3.4.2 Market Forecast
  • 11.3.5 Spain
    • 11.3.5.1 Market Trends
    • 11.3.5.2 Market Forecast
  • 11.3.6 Russia
    • 11.3.6.1 Market Trends
    • 11.3.6.2 Market Forecast
  • 11.3.7 Others
    • 11.3.7.1 Market Trends
    • 11.3.7.2 Market Forecast
• 11.4 Latin America
  • 11.4.1 Brazil
    • 11.4.1.1 Market Trends
    • 11.4.1.2 Market Forecast
  • 11.4.2 Mexico
    • 11.4.2.1 Market Trends
    • 11.4.2.2 Market Forecast
  • 11.4.3 Others
    • 11.4.3.1 Market Trends
    • 11.4.3.2 Market Forecast
• 11.5 Middle East and Africa
  • 11.5.1 Market Trends
  • 11.5.2 Market Breakup by Country
  • 11.5.3 Market Forecast

12 SWOT Analysis

• 12.1 Overview
• 12.2 Strengths
• 12.3 Weaknesses
• 12.4 Opportunities
• 12.5 Threats

13 Value Chain Analysis

14 Porters Five Forces Analysis

• 14.1 Overview
• 14.2 Bargaining Power of Buyers
• 14.3 Bargaining Power of Suppliers
• 14.4 Degree of Competition
• 14.5 Threat of New Entrants
• 14.6 Threat of Substitutes

15 Price Analysis

16 Competitive Landscape

• 16.1 Market Structure
• 16.2 Key Players
• 16.3 Profiles of Key Players
  • 16.3.1 Babcock & Wilcox Enterprises Inc.
    • 16.3.1.1 Company Overview
    • 16.3.1.2 Product Portfolio
  • 16.3.2 Baltimore Aircoil Company Inc. (Amsted Industries Inc.)
    • 16.3.2.1 Company Overview
    • 16.3.2.2 Product Portfolio
  • 16.3.3 Brentwood Industries Inc.
    • 16.3.3.1 Company Overview
    • 16.3.3.2 Product Portfolio
  • 16.3.4 Delta Cooling Towers Inc.
    • 16.3.4.1 Company Overview
    • 16.3.4.2 Product Portfolio
  • 16.3.5 ENEXIO Management GmbH
    • 16.3.5.1 Company Overview
    • 16.3.5.2 Product Portfolio
  • 16.3.6 Hamon Corporation (Hamon & Cie)
    • 16.3.6.1 Company Overview
    • 16.3.6.2 Product Portfolio
    • 16.3.6.3 Financials
  • 16.3.7 International Cooling Tower Inc.
    • 16.3.7.1 Company Overview
    • 16.3.7.2 Product Portfolio
  • 16.3.8 Johnson Controls Inc.
    • 16.3.8.1 Company Overview
    • 16.3.8.2 Product Portfolio
  • 16.3.9 SPX Cooling Technologies Inc.
    • 16.3.9.1 Company Overview
    • 16.3.9.2 Product Portfolio
  • 16.3.10 Reymsa Cooling Towers Inc.
    • 16.3.10.1 Company Overview
    • 16.3.10.2 Product Portfolio
  • 16.3.11 Thermal Care Inc. (IPEG Inc.)
    • 16.3.11.1 Company Overview
    • 16.3.11.2 Product Portfolio
  • 16.3.12 Thermax Limited (RDA Holdings Private Limited)
    • 16.3.12.1 Company Overview
    • 16.3.12.2 Product Portfolio