Field Erected Cooling Tower Market by Product and Geography - Forecast and Analysis 2022-2026

The field erected cooling tower market share is expected to increase by USD 237.46 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 2.42%.

This field erected cooling tower market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers field erected cooling tower market segmentation by product (wet, dry, and hybrid) and geography (APAC, North America, Europe, South America, and MEA). The field erected cooling tower market report also offers information on several market vendors, including Babcock and Wilcox Enterprises Inc., Delta Cooling Towers P. Ltd., ENEXIO Management GmbH, EVAPCO Inc., Hamon and Cie (International) SA, Marley Flow Control Pty Ltd., MESAN Group, Paharpur Cooling Towers Ltd., SPX Corp., and WATCO Group Pte Ltd. among others.

What will the Field Erected Cooling Tower Market Size be During the Forecast Period?

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Field Erected Cooling Tower Market: Key Drivers and Challenges

The growing number of nuclear power plants is notably driving the field erected cooling tower market growth, although factors such as growing demand for re-engineered or refurbished field erected cooling towers may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the field erected cooling tower industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Field Erected Cooling Tower Market Driver

One of the key factors driving growth in the field erected cooling tower market is the growing number of nuclear power plants. The electricity produced by these plants is inexpensive due to the low cost of uranium. Hence, various countries intend to open nuclear power plants. Nuclear power plants use cool water to condense the steam used in power generation. A field erected cooling tower reduces water consumption in thermal power generation, with minimum impact on plant performance. Field erected cooling towers also help remove a significant amount of heat from nuclear power plants during peak climate conditions and loads by evaporative and sensible heat transfer. Such advantages will lead to an increase in demand for field erected cooling towers in nuclear power plants. Thus, with the growth in the number of nuclear power plants, the demand for field erected cooling towers will also increase during the forecast period.

Key Field Erected Cooling Tower Market Challenge

The growing demand for re-engineered or refurbished field erected cooling towers will be a major challenge for the field erected cooling tower market during the forecast period. The purchase of a new field erected cooling tower can be costly and can affect enterprises' budgets in industries such as food and beverage. When an old field erected cooling tower stops working, a few small- and medium-sized enterprises prefer refurbishing or repairing it over replacing it. Field erected cooling towers are often used in industries such as power generation and petrochemical and chemicals. As a result, these devices are exposed to various materials, chemicals, and atmospheric elements, which may degrade the field erected cooling tower over time. As these devices are highly sensitive, many enterprises prefer replacing old devices with new ones. However, this trend has changed with time, and enterprises are currently choosing to re-engineer these devices instead of replacing them to save costs and maintain their budgets. The growing demand for re-engineered or refurbished field erected cooling towers will impact the revenue generated from the sales of new field erected cooling towers, which, in turn, can impact the global field erected cooling towers market.

This field erected cooling tower market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Field Erected Cooling Tower Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

• Babcock and Wilcox Enterprises Inc.
• Delta Cooling Towers P. Ltd.
• ENEXIO Management GmbH
• EVAPCO Inc.
• Hamon and Cie (International) SA
• Marley Flow Control Pty Ltd.
• MESAN Group
• Paharpur Cooling Towers Ltd.
• SPX Corp.
• WATCO Group Pte Ltd.

 

This statistical study of the field erected cooling tower market encompasses successful business strategies deployed by the key vendors. The field erected cooling tower market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The field erected cooling tower market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Field Erected Cooling Tower Market?

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42% of the market's growth will originate from APAC during the forecast period. China, Japan, and India are the key markets for field erected cooling towers in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The growth in power generation will facilitate the field erected cooling tower market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Product Segments in the Field Erected Cooling Tower Market?

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The field erected cooling tower market share growth by the wet segment will be significant during the forecast period. The major advantage for field erect wet cooling towers is that it saves power and is environmentally friendly, as natural dry air enters the system without any mechanical interventions such as fans. The field erect cooling towers have high longevity and can work for at least 8-10 years. In addition, they require limited maintenance. The above-mentioned factors make wet cooling the most preferred form of application in the market.

This report provides an accurate prediction of the contribution of all the segments to the growth of the field erected cooling tower market size and actionable market insights on post COVID-19 impact on each segment.

 

Field Erected Cooling Tower Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 2.42%
Market growth 2022-2026	$ 237.46 million
Market structure	Fragmented
YoY growth (%)	1.92
Regional analysis	APAC, North America, Europe, South America, and MEA
Performing market contribution	APAC at 42%
Key consumer countries	US, China, Japan, Germany, and India
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	Babcock and Wilcox Enterprises Inc., Delta Cooling Towers P. Ltd., ENEXIO Management GmbH, EVAPCO Inc., Hamon and Cie (International) SA, Marley Flow Control Pty Ltd., MESAN Group, Paharpur Cooling Towers Ltd., SPX Corp., and WATCO Group Pte Ltd.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Field Erected Cooling Tower Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive field erected cooling tower market growth during the next five years
• Precise estimation of the field erected cooling tower market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the field erected cooling tower industry across APAC, North America, Europe, South America, and MEA
• A thorough analysis of the market's competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of field erected cooling tower market vendors

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