Hybrid Cooling Towers Market Scope
A Hybrid cooling tower is defined as the heat rejection device which rejects waste heat to the atmosphere. These represent a suitable combination of both wet and dry cooling. Hybrid cooling towers are precisely designed to avoid visible plume in cold and decrease the consumption of water and provide total heat rate as required by the customer. This technology is mainly required at airports, residential areas, etc. In addition, it is also used in the manufacturing and power generation industries in order to keep the environment cool. Increasing demand in the construction, air conditioning, manufacturing, and power generation industry are likely to be a prime driver for the global Hybrid cooling tower market.
The market study is being classified by Type (Direct Contact and Closed Circuit), by Application (Power Generation, Oil and Gas, Food and Beverage, HVAC, Chemical and Petrochemical and Others) and major geographies with country level break-up.
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global cooling tower market can witness an upsurge in the forecast period. Research Analyst at AMA predicts that Global Manufacturers will contribute to the maximum growth of Global Hybrid Cooling Towers market throughout the predicted period.
Babcock & Wilcox Enterprises (United States), EVAPCO (United States), Baltimore Aircoil Company Inc. (United States), ENEXIO Management GmbH (Germany), SPX Corporation (United States), Johnson Controls International plc (United States), Bell Cooling Tower (India), Brentwood Industries Inc. (United States), Hamon & Cie International SA (Belgium) and Paharpur Cooling Towers (India) are some of the key players profiled in the study. Additionally, the Manufacturers which are also part of the research are SPIG S.p.A. (Italy) and Star Cooling Towers Private Ltd. (India).
AdvanceMarketAnalytics has segmented the market of Global Hybrid Cooling Towers market by Type, Application and Region.
On the basis of geography, the market of Hybrid Cooling Towers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Material Type, the sub-segment i.e. Concrete will boost the Hybrid Cooling Towers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
In December 2018, the Aggreko plc (United Kingdom) Company had launched the cooling tower proposition, which reduces customer energy costs and saves space on industrial sites. Hence, it will benefit increase in the product portfolio of the company.
- Technological Advancements in Cooling Tower Market
- Adoption of Power Plants Resorting to the Use of Municipal Wastewater
- Rising Demand from the Developing Markets of Asia-Pacific
- Intelligent Hybrid Cooling Technology
- The Rise in HVACR Deployments and Growth in Industrial Activities
- Growing Demand from Emerging Economics such as India, China, and Others
- Rising Demand from Nuclear Power Generation
- Sluggish Growth of Cooling Tower in Europe as well as North America
- Relatively High Equipment Cost of Hybrid Cooling Tower
- Issue Related To Fire Hazards in Hybrid Cooling Tower
- The Requirement of Large Quantity of Water
Key Target AudienceHybrid Cooling Tower Manufacturers, Hybrid Cooling Tower Traders, Distributors, and Suppliers, Raw Material Suppliers, Government and Research Organizations and Industrial & Commercial Power Equipment Agencies
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