Global Field Erected Cooling Tower Market, By Type (Wet, Dry, and Hybrid), By Design (Natural Draft,

Published Date: | Report Code : EQ1940872

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Market Dynamics:

The Field Erected Cooling Tower  Market is expected to promise high growth owing to increasing  number of natural gas-fired power plants in recent years. Increasing demand from end-use industries including power generation, petrochemical and oil & gas, iron & steel and metallurgy, and paper mills is expected to drive the growth of field erected cooling tower market. This market has witnessed number of key developments by major companies including   SPX Corporation, Hamon & CIE International SA, Baltimore Aircoil Company Inc., Brentwood Industries, and others with focus on organic as well as inorganic growth strategies.  Developing regions including Asia Pacific and Middle East have been among the high potential markets with high growth in some of the key economies.

Field erected cooling towers have a greater capacity for heat rejection. Therefore, facilities such as power plants, steel processing plants, petroleum refineries, or petrochemical plants usually install field erected type cooling towers. Field erected towers are normally much bigger in size compared to the package type cooling towers. A typical field-erected cooling tower has a pultruded fibre-reinforced plastic structure, FRP cladding, a mechanical unit for air draft, and a drift eliminator.

Field erected cooling towers are used in various industries due to their heat rejection property. They are used in oil refineries, paper mills, thermal power, etc. Dry cooling towers are controlled by heat transfer through a surface that separates the working fluid from ambient air, such as in a tube to the air heat exchanger, utilizing convective heat transfer. Wet cooling towers function on the standard of evaporative cooling. Working fluid and evaporated fluid are the same.

Segment Insights:

The global field-erected cooling tower market is growing with increasing energy demand. The rising population in emerging economies is fueling the demand for electricity for industrial, transportation, and household purposes. Governments are majorly focusing on installing power plants to fulfill the increasing electricity demand. These factors are driving the global field-erected cooling tower market. However, volatile oil prices, exceeding the supply of steel as compared to its demand, decreasing usage of steel to construct rigs and pipelines due to degrading of the oil & gas industry, and gloomy economic environment are factors hampering the growth of the global field-erected cooling tower market.

Key Factors Impacting Market Growth:

  • An increasing number of natural gas-fired power plants
  • Growing power plants and extended power generation capacities worldwide
  • Increasing energy generation from nuclear power
  • Highly fragmented and competitive industry
  • The rise in alternative energy programs
  • Requires large quantities of water 

Regional Analysis:

Major regions for the field-erected cooling tower market are estimated to North America, Western Europe, and the Asia Pacific. North America and Western Europe have been traditional markets for field-erected cooling tower owing to the strong presence of the industrial sector. The industrial sector has been one of the key contributors to the economies in these regions. Major end-use industries including power generation, petrochemical and oil & gas, iron & steel and metallurgy, and paper mills. These industries have an established base resulting in stable market demand. Moreover, most of these industries have been witnessing a transition in terms of product development and production methods. These factors are expected to drive the demand for the field-erected cooling tower market in North America and Western Europe region. Major markets by country in these regions include the US, Germany, France, UK, Canada, Spain, and others. 

The Asia Pacific and the Middle East region has witnessed tremendous growth of the industrial sector in recent years. Major companies operating in this market have made strategic developments to improve market presence in these regions. In addition to this, some of the fastest growing economies including China and India have been major markets for various end-use industries including building & construction, automotive, healthcare, manufacturing, and so on. Among these end-use industries including power generation, petrochemical and oil & gas, iron & steel and metallurgy, and paper mills are estimated to register high demand for field-erected cooling tower market during the forecast period. On the other hand, the Middle East region has witnessed diversification in terms of industrial outlook in recent decades. UAE, Saudi Arabia, Qatar, and others have been instrumental in promoting the development of various industries including building & construction, pharmaceuticals, automotive, and so on. This is expected to drive the growth of the field-erected cooling tower market directly or indirectly in the region. Eastern Europe consisting of Russia and Turkey promises a stable demand for the field-erected cooling tower market during the forecast period. The rest of the World including South America and Africa are estimated to be a developing market with strong potential in the strategic future.

Companies Covered: SPX Corporation, Hamon & CIE International SA, Baltimore Aircoil Company Inc., Brentwood Industries, Inc., Spig S.P.A., Evapco Inc., Enexio Management GmbH, Mesan Group, Babcock & Wilcox, Benchmarking, Delta Cooling Towers, Evapco, International Cooling Tower, Paharpur, and Star Cooling Towers 

Market Segmentation:

By Type:

  • Wet
  • Dry
  • Hybrid

By Design:

  • Natural Draft
  • Forced Draft
  • Induced Draft

By End User:

  • Power Generation
  • Petrochemical and Oil & Gas
  • Iron & Steel and Metallurgy
  • Paper Mills

By Region:

  • North America
    • By Country (US, Canada, Mexico)
    • By Type
    • By Design
    • By End User
  • Western Europe
    • By Country (Germany, UK, France, Italy, Spain, Rest of Western Europe)
    • By Type
    • By Design
    • By End User
  • Eastern Europe
    • By Country (Russia, Turkey, Rest of Eastern Europe)
    • By Type
    • By Design
    • By End User
  • Asia Pacific
    • By Country (China, Japan, India, South Korea, Australia, Rest of Asia Pacific)
    • By Type
    • By Design
    • By End User
  • Middle East
    • By Country (UAE, Saudi Arabia, Qatar, Iran, Rest of Middle East)
    • By Type
    • By Design
    • By End User
  • Rest of the World
    • By Region (South America, Africa)
    • By Type
    • By Design
    • By End User

Reasons to Buy This Report:

  • Market size estimation of the global field-erected cooling tower market on a regional and global basis
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  • Profiling of major companies operating in the market with key developments
  • Broad scope to cover all the possible segments helping every stakeholder in the market

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