USD 25 BN | Industrial Cooling System Market Regional Trend & Growth Projections by 2019–2025
Aug 13, 2019
Global Market Insights, Inc. has recently added a new report on industrial cooling system market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of industrial cooling system industry.
Selbyville, United States - August 13, 2019 /MarketersMedia/ —
Industrial Cooling System Market is expected to be around USD 25 billion by 2025. The increasing demand for reliable & efficient cooling systems coupled with technological advancement is encouraging industries to install new cooling systems for enhancing the component and manufacturing operations. The processes in manufacturing faculties/plants generate excessive heat, impacting the lifespan & efficiency of components and driving the demand for efficient cooling equipment. For instance, thermoelectric plants in the U.S. generate around 90% of electricity in the country, producing large amounts of heat and requiring efficient cooling systems. Moreover, the need for water conservation in several regions is driving the industrial cooling system market growth.
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According to a study, the evaporative cooling systems result in 50% energy savings and the maintenance and installation cost is 25% less than that of traditional cooling systems. The basic principle behind this cooling system is similar to that of perspiration wherein a cooling tower – which is a heat rejection device – discharges warm air from the cooling tower to the atmosphere via the cooling of water. These systems require 70% less water as compared to traditional air-cooled systems, thereby reducing the formation of algae, legionella bacteria and fungi which invariably lowers the maintenance cost.
Another widely used type of industrial cooling system, especially in airports, is the hybrid cooling system. Here, the hybrid cooling towers are specifically designed to avoid any plume in cold and humid ambient conditions. These cooling systems are known to reduce the water consumption by 80% by utilizing wet cooling when it’s hot and vice versa. Hybrid cooling mechanism can be beneficial in power plants that are affected by water scarcity and other environmental impacts. Other areas where hybrid form of industrial cooling is being installed include data centers, petrochemical manufacturing plants and chiller plants, essentially favoring industrial cooling system industry trends.
Browse key industry insights report “Industrial Cooling System Market Size By Product (Air Cooling, Evaporative Cooling, Hybrid Cooling, Water Cooling), By Application (Automotive, Chemical, Food & Beverage, Metalworking, Oil & Gas, Pharmaceutical, Pulp & Paper, Utility & Power), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, Russia, China, India, Japan, South Korea, Brazil, Mexico, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 – 2025”.
https://www.gminsights.com/industry-analysis/industrial-cooling-system-market
In the utility & power sector, nuclear power plants consume large amounts of water to condense steam from the turbine exhaust. According to the World Business Council for Sustainable Development (WBCSD), developing countries consume around 22% of water while developed countries utilize over 55% of water for industrial purposes. The growing usage of water for cooling components and processes in manufacturing, power generation, and chemical sectors is increasing the demand for the industrial water-cooling system. The industries are also focusing on reusing the water for cooling to reduce water withdrawal and to decrease the impacts on the environment.
The food & beverage sector will witness a steady adoption of industrial cooling systems owing to the increase in the number of manufacturing plants in the sector. The industry requires highly efficient, sustainable, and productive cooling processes to maintain energy efficiency. The growing demand for hygienic and precise temperature control machines in production processes to ensure consistent quality in the working environment is driving the industrial cooling system market growth.
The Asia Pacific industrial cooling system market will grow substantially over the coming years due to the presence of major players offering advanced cooling solutions. Ongoing industrialization coupled with rising government standards for using energy-efficient systems is forcing manufacturers to design modern cooling systems. Moreover, the increasing technological innovations and rapid urbanization are encouraging companies to expand manufacturing facilities in the region.
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The key players operating in the industrial cooling system market are Baltimore Aircoil Company Inc., Bell Cooling Towers, Berg Chilling Systems Inc., ENEXIO Management GmbH, EVAPCO Inc., Hamon Group, Johnson Controls Inc, and Schneider Electric SE. The players are competing based on technological advancements and innovations in their product offerings. The growing demand for energy-efficient solutions to enhance the performance of the components is encouraging the manufacturers in the industrial cooling system market to offer effective cooling solutions.
Browse Related News:
1. Cooling Tower Market Statistics, 2019-2025
https://www.gminsights.com/industry-analysis/cooling-tower-market
About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights
Phone: 1-302-846-7766
Website: https://www.gminsights.com/industry-analysis/industrial-cooling-system-market
Source: MarketersMedia
Release ID: 88907324
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