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2021
Industrial Cooling System Market

Industrial Cooling System Market by End User (Power Generation, Industrial Manufacturing, Petrochemical Processing, and Food Processing & Storage), Type (Evaporative Cooling System, Air Cooling System, Hybrid Cooling System, and Water Cooling System), and Application (Utility & Power, Metalworking, Oil & Gas, Chemical, and Automotive): Global Opportunity Analysis and Industry Forecast, 2021–2030

A12451
Pages: NA
Sep 2021 | 202 Views
   
Author(s) : Onkar Sumant
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COVID-19

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High energy is consumed by industrial or commercial area, both in thermal and cooling applications, which is intricately linked to surge fuel consumption. Industrial cooling systems are used to resist heat from the plant or process. The most popular type of cooling system used in all industries includes evaporative industrial cooling systems. The widespread use of this system in all major application sectors is anticipated to boost the market growth in the upcoming period. Industrial cooling systems are widely used to minimize the harmful effects of overheating produced by many industrial and structural elements in industries such as metal processing, automotive, and chemical.

Overheating in the manufacturing process can affect the health of the workers, the operation of machinery, and the quality of manufactured goods or products. Cooling equipment helps to maintain the required temperature of various materials, production processes, and equipment. Controlling the heat of industrial equipment helps to increase productivity and reduce the costs associated with the maintenance of equipment. The surge in demand for cooling equipment is evident in nuclear and thermal power stations. Increase in demand for energy-efficient cooling systems and technological advances are expected to increase the demand for industrial cooling systems. Such factors are expected to enhance the market growth during the forecast period.

Market Scope & Structure analysis

Increase in demand for energy-efficient cooling systems and technological advances are expected to surge the demand for industrial cooling systems. Such factors are expected to enhance the market growth during the forecast period. Increased demand for online channels, cost competition, and quality food regulations promote the implementation of modern cooling solutions, thus expected to foster the growth of the industrial cooling system market during the forecast period.

Report Metric

Details

  Market size available for years

2020 - 2030

  Base Year Considered

2020

  Forecast Period

2021–2030

  Forecast Unit

Value (USD)

  Segments CoveredProduct, Application, Distribution Channel and Region
  Regions CoveredNorth America, Asia Pacific, Europe, and LAMEA
  Companies covered.Airedale International Air Conditioning Ltd., Baltimore Aircoil Company Inc., Berg Chilling Systems Inc., Black Box Corporation, Brentwood Industries, Inc., Emerson Electric Co., ENEXIO, EVAPCO Inc., Paharpur Cooling Towers Limited, Johnson Controls Inc.,
  

COVID-19 Impact analysis

  • Industrial cooling systems market has been impacted by the COVID-19 outbreak, similarly residential cooling systems market was also impacted by COVID-19, as the markets were closed, and people were prohibited to move in the market. In addition, income sources of the people were hampered and making their financial condition weak, which resulted in downward sale of cooling systems.
  • Owing to COVID-19, travel, events, gathering, hotel, restaurants, and several other industries were under operating restrictions and these led to decrease in sales of industrial cooling systems.
  • Cooling system manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.

Top Impacting Factors

Population growth, urbanization, and developments in industries increase the demand for these systems, which drives the market growth in the Asia-Pacific region. The growth of the food & beverage industry and the nuclear power industry, combined with low-cost production (especially in China and India), is expected to boost the market growth. Rise in the need for energy-saving cooling systems along with advance technology drive the growth of the cooling system market. Industrial cooling systems are widely used to reduce excess heat from industrial equipment and component such as energy and chemicals, gas, and oil. Cooling system comes in use to control and set suitable temperature of various processes, equipment, and components of production. Controlling the heat of industrial cooling system helps to increase productivity and reduce equipment maintenance costs. The surge in demand for equipment in thermal and nuclear power plants is expected to have a positive impact on the market size of the cooling system.

Marketing Trends

  • In 2018, about 10-15% of the market share of cooling systems accounted for hybrid cooling systems that offer a combination of wet and dry solutions. They allow the reduction of steam that is visible during wet weather in cold and winter to avoid icing. The elimination of steam drift is beneficial in industrial and urban areas. 

By End user:

  • Power Generation
  • Industrial Manufacturing
  • Petrochemical Processing
  • Food Processing & Storage
  • Petroleum & Natural Gas Refining
  • Pharmaceuticals

Data Center By Application

  • Utility & Power
  • Metalworking
  • Oil & Gas
  • Chemical
  • Automotive
  • Commercial

Residential By Type

  • Evaporative Cooling System
  • Air Cooling System
  • Hybrid Cooling System

Water Cooling System By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • UK
    • Germany
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Rest of APAC
  • LAMEA
    • Latin America
    • Middle East
    • Africa

Key Benefits of the Report

  • This study presents the analytical depiction of the Industrial Cooling Systems Market 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 Industrial Cooling Systems Market.
  • The current market is quantitatively analyzed from 2020 to 2028 2030 to highlight the Industrial Cooling Systems Market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
  • The report provides a detailed Industrial Cooling Systems Market based on competitive intensity and how the competition will take shape in coming years.
 
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