Report Code: A15777 | Pages: NA | Jul 2023 | 1184 Views | ||
Author(s) : NA | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Cooling Tower Rental Market
Request Now !The cooling tower rental market is expected to grow at a rapid pace in the near future. A cooling tower is a heat rejection mechanism that emits waste heat into the atmosphere by lowering the temperature of a water stream. A cooling tower is the most important piece of equipment in any enterprise that wants to remove unwanted heat with the least amount of water possible. It's a fantastic resource and a perfect solution to make up for lost cooling capacity until the permanent cooling tower can be repaired or replaced. Due to the restricted capacity of permanent cooling towers, especially during the hot summer months, productivity might suffer; to avoid this, businesses use a cooling tower leasing system. Many firms may not see the necessity to place heat in their operations because it is a by-product of the entire manufacturing process. Instead, they hire a cooling tower only when it is needed. Cooling tower rentals are offered with fully pre-assembled systems that are ready to use right away in any setting. Food processing plants, petroleum refineries, natural gas plants, and petrochemical plants all use cooling towers. They are classed as natural draught or mechanical draught depending on the mechanism used to circulate air. A cooling tower is a heat rejection mechanism that emits waste heat into the atmosphere by lowering the temperature of a water stream. This system has various advantages, including supplementing cooling water flows, providing cooling for planned system turnarounds, increasing capacity, lowering cold water temperatures, and maintaining maximum output.
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available for Years |  2020–2030 |
 Base Year Considered |  2020 |
 Forecast Period |  2021–2030 |
 Forecast Unit |  Value (USD) |
 Segments Covered |  Type, Capacity, Design, End User, Region |
COVID-19 Impact Analysis
Top Impacting Factors
The rise in construction activities in both developing and developed countries, which drives the need for cooling, refrigeration, and heating ventilation equipment, is expected to increase the cooling tower leasing market demand.
The market is bolstered by the expansion of transportation infrastructure such as ports, airports, and bridges. The HVAC system is projected to be in high demand as a result of the construction activity. The use of advanced technology ensures that energy is only utilized when it is needed, resulting in the increase in production. Choosing to rent cooling towers rather than buy them has a number of advantages. Such advantages are important factors in the global cooling tower leasing market's improvement. However, the increase in preference for renewable energy sources and the high cost of installation for a short period of time are two concerns that are anticipated to limit the market growth. Oil price fluctuations have been linked to businesses such as oil and gas production, electricity generation, and product manufacturing, which has hampered the global cooling tower rental market.  Asia-Pacific’s vast nuclear power industry as well as the region's high energy demand, are expected to provide opportunities for the cooling tower leasing business to expand in the future. Environmental regulations, together with the increase in investment from major industries such as oil and gas, power utilities, and mining globally are expected to drive market expansion in the future.
Market Trends
Key Benefits of Report
Cooling Tower Rental Market Report Highlights
Aspects | Details |
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By Type |
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By Capacity |
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By Design |
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By End User |
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By Region |
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Key Market Players | Engie Refrigeration, GOHL-KTK GmbH, Carrier Rental Systems,, Midwest Cooling Tower Services, LLC, SPX Corporation, Finning International Inc, Jacir, Johnson Controls, Inc., Aggreko, United Rentals, Inc. |
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