Please Wait.....
Report
Field Erected Cooling Tower Market - Growth, Trends, Covid-19 Impact, and Forecasts (2023 - 2028)
Market Report I 2023-01-23 I 125 Pages I Mordor Intelligence
The field-erected cooling tower market is expected to register a CAGR of more than 3% during the forecast period, 2022-2027. The field-erected towers are larger towers usually deployed in oil refineries, thermal power stations, petrochemical plants, etc., to maintain water circulation at the required temperature by dissipating the waste heat. The COVID-19 pandemic has impacted the industrial and energy sectors globally. Moreover, sudden shutdowns in the industrial activities, where a large portion of field-erected cooling towers are deployed, and the drop in demand for oil and gas affected the studied market. However, post the COVID-19 impacts, the growth in industrial activities requiring cooling towers, such as the oil refineries, petrochemical plants, and a few other manufacturing industries, and stringent environmental regulations are expected to increase the demand for the field-erected cooling towers market globally. However, there is an increasing demand for alternative energy like renewable energy sources. The concerns over carbon emission increase result in less operation of conventional power plants, which use field-erected cooling towers. This, in turn, is expected to restrain the growth of the studied market during the forecast period.
Key Highlights
The wet type segment is expected to hold the largest share in the market during the forecast period.
Increasing energy production from nuclear power is expected to offer lucrative opportunities to the market players in the near future.
Asia-Pacific is expected to dominate the market due to increased industrial activities and energy demand in the region over the forecast period.
Field Erected Cooling Tower Market Trends
Wet Type Segment to Dominate the Market
Wet-type cooling towers are much preferred due to the high effectiveness of cooling in nuclear and thermal power plants and the simple accessibility of water. The benefits of a wet cooling tower are that there is no need for electrical or mechanical elements, negligible maintenance cost, and extensive water loading capability.
The growth is primarily attributed to upgrades in utility infrastructure, growing investments in the industrial sector, and related government regulations in various countries, which are expected to continue during the forecast period.
In terms of design, mechanical draft wet field-erected cooling towers hold the largest share in the market, owing to their use in a wide range of cooling applications such as power plants, industrial processes, refining, manufacturing, and HVAC.
Wet cooling towers offer an outstanding performance by taking full advantage of the ambient air humidity. Wet cooling, also called evaporative cooling, is a technology that can generate outstanding fuel-saving and carbon emission reduction. Therefore, it is preferred by end users of different industries.
Hence, based on the above-mentioned factors, wet type cooling towers are expected to dominate the global field-erected cooling tower market during the forecast period.
Asia-Pacific to Dominate the Market
Asia-Pacific is expected to dominate the market due to several driving factors, including the rising population, growing industrial activities, and energy demand in the region. India and China are likely to lead the market among Asia-Pacific countries due to increased energy demand and upcoming thermal and nuclear power plant projects.
For instance, according to the World Nuclear Association, as of January 2022, there are about 135-140 operable nuclear power reactors in Asia. Additionally, around 35 reactors are under construction, and more than 50-60 are either in the planning or proposed phase in the region. Such scenarios, in turn, are likely to increase the demand for field-erected cooling towers.
The Asia-Pacific region has untapped energy resources and is also the largest region for exploration activities to be carried out. Therefore, in one way or another, field-erected cooling towers are mandatory for rising industrial activities, which is expected to boost market growth during the forecast period.
Moreover, the rise in refinery capacity in the region also pushes the requirement for field-erected cooling towers in the large refinery industry. As of 2020, the refining capacity reached 36,492 thousand barrels per day in the Asia-Pacific region, with a growth rate of 2.7% compared to 2019. Furthermore, in August 2021, India's largest state-owned oil refining firm, Indian Oil Corporation (IOC), announced plans to invest around INR 1 lakh crore to expand its refining capacity by almost a third in the next 4-5 years. Such considerable investments in refining activities are expected to create a demand for field-erected cooling towers in the coming years.
Therefore, based on the above-mentioned factors, the Asia-Pacific region is expected to dominate the global field-erected cooling tower market during the forecast period.
Field Erected Cooling Tower Market Competitor Analysis
The field-erected cooling tower market is fragmented. Some of the major players in the market include ENEXIO Management GmbH, SPX Cooling Technologies, Inc., Towertech Cooling System Pvt. Ltd, Watco Group, and Paharpur Cooling Towers Ltd.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY
4 MARKET OVERVIEW
4.1 Introduction
4.2 Market Size and Demand Forecast in USD billion, till 2027
4.3 Recent Trends and Developments
4.4 Government Policies and Regulations
4.5 Market Dynamics
4.5.1 Drivers
4.5.2 Restraints
4.6 Supply Chain Analysis
4.7 Porter's Five Forces Analysis
4.7.1 Bargaining Power of Suppliers
4.7.2 Bargaining Power of Consumers
4.7.3 Threat of New Entrants
4.7.4 Threat of Substitutes Products and Services
4.7.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Type
5.1.1 Wet
5.1.2 Dry
5.1.3 Hybrid
5.2 Design
5.2.1 Natural
5.2.2 Induced
5.2.3 Forced
5.3 End User
5.3.1 Power Generation
5.3.2 Petrochemicals
5.3.3 Oil & Gas
5.3.4 Other End Users
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia-Pacific
5.4.4 Middle East & Africa
5.4.5 South America
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 ENEXIO Management GmbH
6.3.2 Towertech Cooling System Pvt. Ltd
6.3.3 Watco Group Ltd
6.3.4 Paharpur Cooling Towers Ltd
6.3.5 SPX Cooling Technologies Inc.
6.3.6 Hamon & Cie International SA
6.3.7 Babcock & Wilcox Enterprises Inc.
6.3.8 Evapco Inc.
6.3.9 Cyrco Inc.
6.3.10 Marley Flow Control Pty Ltd
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security