Cooling Tower Market forecast
Two major trends impacting cooling tower market outlook, U.S. to emerge as a prime regional hub by 2025
Germany Cooling Tower Market Size, By Product, 2018 & 2025 (USD Million)
The cooling tower market is projected to accumulate sizable growth from this ongoing shift, which is primarily being driven by the rising consumer & environmental awareness, with sustainable power generation techniques such as cogeneration technologies at the helm. Meanwhile, as global temperatures continue to rise the market is also expected to witness increased demands from the world’s HVAC sector with different industries attempting to control internal temperature to maintain a conducive work environment for their employees as well as their equipment & machinery.
Global cooling tower market | Anti-Microbial cooling towers to witness increased adoption
Being an essential part of the heating, ventilation, & air conditioning (HVAC) systems, cooling towers have witnessed extensive capacity demands from a plethora of different sectors. While industrial cooling towers are utilized without any problems inside power plants, petrochemical facilities, petroleum refineries and other industrial facilities, other cooling tower application sectors face a major issue that may make the system a significant health risk to individuals.
The issue is a harmful lung infection called Legionnaires’ Disease. The disease is caused by the Legionella bacteria, which thrives in warm water conditions and could affect humans if they inhale the mist or water vapor containing the bacteria. While, the disease was the matter of concern back in the 1970’s, the problem still persists today. In fact, according to Becker’s Clinical Leadership & Infection Control, a study conducted in 2016 discovered that more than 84% of cooling towers in the U.S. contained Legionella.
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This has prompted many industry players to develop anti-microbial cooling towers, which contain ant-microbial additives that work on a cellular level to continuously prevent & disrupt the uncontrolled growth of such microorganisms. This advancement coupled with the ageing infrastructure & strict workplace safety rules are expected to considerably stimulate the overall cooling tower market growth over 2019-2025
Global cooling tower market | Expanding data center domain to add momentum to the industry growth
The technology cosmos is getting more concerned about the heat produced in data centers on a daily basis. These facilities require an extremely reliable system to efficiently maintain the power, cooling as well as support systems that are extremely crucial for ensuring continuous flow of information across these mission-critical facilities. Achieving close to a 100% availability or uptime at data centers has become a necessity as loss of power in data centers could cost the organization millions of dollars, thus making cooling towers extremely crucial for the future of data storage & cloud computing.
Moreover, according to the U.S. Department of Commerce, the hyperscale trend has recently taken the data center industry by a storm. Data center projects in the 150,000 sq. foot and $120 million range, are now considered small while facilities in the 600,000 to 1,000,000 sq. foot and $1 billion range are now becoming the industry norm. This significant boost in scale coupled with the ongoing rise in the number of data center facilities is expected to one of the primary growth inducing factors for the global cooling tower market in the coming years.
Speaking of the regional spectrum, it is vital to mention that the U.S. is bound to be one of the most proactive hubs for the growth of the cooling tower market. Powered by a highly favorable regulatory spectrum, U.S. cooling tower market was worth USD 250 million in 2018. In the years ahead, the U.S. cooling tower industry is anticipated to garner substantial returns, driven by the paradigm shift in the administrative policies and the robust expansion of the regional manufacturing sector.
It is quite apparent from the aforementioned trends that the global cooling tower market is primed for drawing in sizable growth over 2019-2025. Propelled by the expansion of the industrial sector and the hefty adoption of sustainable resources, the global cooling tower industry size is projected to surpass a valuation of more than $3 billion by 2025.
Author Name :Akshay Kedari