Field-Erected Cooling Tower (Wet, Dry, & Hybrid) Market 2016 - Global Trends & Forecasts to 2021 - Research and Markets
Research and Markets has announced the addition of the "Field-Erected
Cooling Tower Market by Type, by End-User & Region - Global Trends &
Forecasts to 2021" report to their offering.
The field-erected cooling towers market is expected to reach USD 2.11
billion by 2021, at a CAGR of 4.3% from 2016 to 2021
Strict environmental regulations, particularly by nuclear and fossil
fuel-based power plants, would support the growth of the market. In
addition, end-use industries such as power generation, petrochemical and
oil & gas, iron & steel and metallurgy, and paper mills are deploying
field-erected cooling towers for efficient heat exchange between used
water and the atmosphere.
Power generation segment is the largest market, by end-user industry
The power generation segment is the largest end-user market.
Field-erected cooling towers are used to cool the circulating water.
Power plants implement closed cooling systems with the towers to deal
with water scarcity. The towers initiate the cooling process by reusing
the water, making power plants economical and environment-friendly. The
growth in the energy demand, resulting from increasing population, is
likely to drive the demand for field-erected cooling towers in the power
generation industry.
Growing energy demand clubbed with industrialization makes Asia-Pacific
the largest market
The Asia-Pacific region is expected to lead the field-erected cooling
towers market with the largest market share in 2016, and is projected to
grow at the highest CAGR from 2016 to 2021. This growth can be
attributed to the utilization of field-erected cooling towers by
countries such as India, China, and Japan, among others. Investments in
the power generation, petrochemical and oil & gas end-use industries
have grown considerably in the past 5 years, creating a huge demand for
field-erected cooling towers in the region. Further, the region is
developing as the fastest growing end-market for iron & steel and
metallurgy. The region houses the world's biggest steel industry, which
would further boost the field-erected cooling towers market in the
region.
List of companies profiled in the report include:
- SPX Corporation
- Hamon & CIE International Sa
- Enexio Management GmbH
- SPIG S.P.A.
- Evapco Inc.
- Baltimore Aircoil Company Inc.
- Brentwood Industries, Inc.
- Paharpur Cooling Towers Limited
- Star Cooling Towers Pvt. Ltd.
- Mesan Group
For more information visit http://www.researchandmarkets.com/research/74gpkp/fielderected
View source version on businesswire.com: http://www.businesswire.com/news/home/20160418005735/en/
Copyright Business Wire 2016
Source: Business Wire
(April 18, 2016 - 6:38 AM EDT)
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