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Field-erected Cooling Tower Market

Field-Erected Cooling Tower Market

by Type (Wet, Dry, and Hybrid), Design (Natural, Forced, and Induced), and End-User (Power Generation, Petrochemical and Oil & Gas, Iron & Steel and Metallurgy, Paper Mills): Global Opportunity Analysis and Industry Forecast, 2021-2030

Report Code: A14857
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Mar 2023 | 1192 Views
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Pandemic disrupted the entire world and affected many industries.

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Field-erected cooling tower is exceptionally designed for its broader application in huge capacity of heat rejection systems, for example power plants, steel production plants, and petrochemical plants. Field-raised cooling towers are bigger in size when contrasted with the ordinary bundle type cooling tower. A typical field-raised cooling tower comprises of pultruded structural components used all through the cooling tower, which creates a designed system of amazing quality, dependability, and safety. Underlying pultrusion is inexact a similar strength of steel in tension and pressure for a field-erected cooling tower. Fiberglass is implemented as it is impervious to a wide scope of destructive materials, safe to decay for the field-erected cooling tower.

COVID-19 Impact analysis

  • The COVID-19 pandemic has majorly affected the industrial and energy sectors across the globe. Due to the shutdowns in the industrial sectors, where a major application of field-erected cooling towers is deployed affected due to the market growth. 
  • Due to the COVID-19 outbreak globally, the reduction in demand for oil and gas affected the field erected cooling tower market.
  • However, post the COVID-19 impacts, the development in industrial activities that require cooling towers such as petroleum refineries, petrochemical plants, and other manufacturing industries are expected to boost the demand for field-erected cooling towers market globally. 
  • The trade restrictions due to the COVID-19 pandemic hamper demand and supply chain of the field-erected cooling towers market.

Top Impacting Factors

 The increasing government regulations implementing the use of closed-loop systems for cooling processes are driving the demand for field-erected cooling towers market. Moreover, sustainable energy deployment in off-grid systems is growing slowly in both developed and developing countries. Government supportive policies, reducing costs, and the increasing efficiency of solar photovoltaic are also major drivers for sustainable energy generation. Thus, the growth in renewable energy declines the scope for the growth of the field-erected cooling tower market in the long term which is one of the restraining factors for the market. However, increasing energy generation from nuclear power is directly depended upon the performance of the cooling tower and thus can impact overall efficiency and power output. Another challenge for the market is that it requires large amounts of water for cooling and its availability is a major concern in the market. 

Market Trends

  • In January 2018, Paharpur Cooling Towers acquired the SPX dry cooling business and this joint venture can viable alternative for power generation and operations globally. 
  • In February 2017, Baltimore Aircoil launches its new models to the PT2 cooling tower product line. The PT2 is a counter flow cooling tower and is responsible for an efficient solution for installations with space restrictions.
  • Wet-type cooling towers are especially preferred because of the high effectiveness of cooling in atomic and nuclear energy plants and the basic accessibility of water. The advantages of a wet cooling tower are there is no requirement for electrical or mechanical components, minimum maintenance cost, and huge water loading ability. 
  • The development is principally credited to updates in utility infrastructure, developing investments in the industry sector, and related government regulations in different nations, which is probably going to keep during the forecasted period. 
  • Wet cooling towers offer a remarkable execution by exploiting the encompassing air moistness. Wet cooling is an innovation that can create extraordinary fuel-saving and carbon emission reduction. Hence, it is more preferred by the end-clients of various industries.

Key Benefits of the Report

  • This study presents the analytical depiction of the field-erected cooling tower industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the field-erected cooling tower market share.
  • The current market is quantitatively analyzed from 2020 to 2028 to highlight the field-erected cooling tower market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed field-erected cooling tower market analysis based on competitive intensity and how the competition will take shape in coming years

Field-Erected Cooling Tower Market Report Highlights

Aspects Details
By Technology
  • Positive Temperature Coefficient (PTC)
  • Negative Temperature Coefficient (NTC)
By Application
  • Temperature Control
  • Temperature Monitoring
  • Others
By Industry Vertical
  • Chemical & Petrochemical
  • Oil & Gas
  • Energy & Power
  • Automotive
  • Food & Beverage
  • Healthcare
  • Others
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (UK, Germany, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific)
  • LAMEA  (Latin America, Middle East, Africa)
Key Market Players SPX Cooling Technologies Inc., ENEXIO Management GmbH, Hamon & Cie SA,, Baltimore Aircoil Company, Inc, Paharpur Cooling Towers Ltd, Babcock & Wilcox Enterprises Inc, Brentwood Industries Inc, Delta Cooling Towers P. Ltd.,, Evapco Inc., International Cooling Tower Inc, Composite Cooling Solutions L.P, Cycro, inc, STAR Cooling Towers.

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