The global cooling towers market was valued at USD 3.72 billion in 2020. The impact of COVID-19 has been massive, and it has contributed to the rise of cooling tower demand in many regions. While the growth rate in 2020 was 2.7%, it is projected to reach a CAGR of 4.0% from 2021 to 2028. This increase is attributed to the demand for cooling systems in various industries, including petroleum refineries, thermal power stations, food and beverage production facilities, and chemical plants.
The global market for Industrial Cooling Solutions Company is expected to increase by 40 percent between 2012 and 2018. The rising construction industry in developed and developing countries contributes to the market’s growth. New technologies and advancements will also impact the market.
ICS (Industrial Cooling Solutions):
The ICS (Industrial Cooling Solutions) industry dominates the global cooling tower market. This is due to the rise in industrialization in significant countries. The cooling towers installed in the ICS (Industrial Cooling Solutions) industry are efficient, low-cost, and easy to operate. In addition to that, they can improve the efficiency of heating and cooling systems. According to the European Photovoltaic Industry Association, the global market for cooling towers is expected to grow by approximately 40% in the next five years.
The global cooling tower market is growing at a breakneck pace. With renewable energy becoming more prevalent, the cooling tower market is expected to grow by more than four times in the next five years. The competition in this field is fierce, but it’s not impossible to beat it. The only way to become competitive is to develop your business by making intelligent and cost-effective decisions. With these considerations, you’ll be able to choose a provider that provides quality cooling tower solutions for your company.
The industry is increasing, and the growth of renewable energy is accelerating. The growth of solar energy and wind turbines is projected to increase by over 40 percent in just five years. Increasing the use of renewable energy in the industrial sector is a significant opportunity for the cooling tower market. These industries are already benefiting from the benefits of using cooling towers and are driving the growth in the industry.
Siemens:
Siemens is one of the largest cooling tower providers globally in terms of size. With headquarters in Germany, the company is a global engineering giant with infrastructure, energy, and healthcare industries. In addition to its manufacturing capabilities, the company offers a range of non-chemical solutions for cooling tower water treatment. The “Silver Bullet” oxidation process that Siemens uses is based on hydroxyl radicals produced by the breakup of calcium.
Other key players in the cooling tower industry are developing modular designs to maximize customer efficiency. The company launched a mobile cooling tower in December 2018 that is expected to reduce customers’ energy costs while saving space on industrial sites. These companies also participate in tradeshows and place advertisements in various media to increase awareness of their products. There is no single player who has all the expertise in the cooling tower market. These companies are all well-positioned to offer the right solutions for industrial needs.
IDE Technologies:
IDE Technologies is a global cooling tower provider established in the early 1960s. Their primary focus is thermal desalination solutions and has been involved in developing water treatment technologies for various industries. Their modular cooling towers allow companies to reduce their waste volume and achieve zero liquid discharge. In addition to offering custom-designed cooling towers, IDE Technologies also provides modular systems that enable customers to customize their cooling towers to their exact specifications.
The market for cooling towers is dynamic, with constant innovation and technological advancement. In September of last year, Delta Cooling Technologies, Inc. introduced a mobile modular cooling tower. The new technology enables companies to save space while increasing their customers’ efficiency. They also focus on maintaining cooling towers to maintain the highest levels of safety. They will also focus on upgrading older cooling towers to ensure that they can maintain their high-quality standards.
