Middle East & Africa Water Cooling Tower Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Crossflow, Counterflow, Forced Draft, Induced Draft, and Others) and Application (Industrial, Power Plant, and HVAC)
Market Introduction
The MEA region includes various well-established economies, such as South Africa, the UAE, Saudi Arabia, and the Rest of MEA. Favorable government policies for strengthening the oil & gas industry are among the significant factors contributing to the water cooling tower market growth. With the rising industrialization, the adoption of water cooling towers in the oil & gas industry, food processing plants, and construction industry will grow. With the growing industrial sector, the penetration of water cooling towers is projected to increase. Israel, Turkey, and Saudi Arabia are a few countries that hold a significant position in industrial growth. The most noticeable changes are observed in the manufacturing sector of oil-exporting countries, including Oman, the UAE, and Saudi Arabia. According to the UNIDO data, the oil & gas industry contributes nearly 40% of the UAE’s GDP. In addition to further growth of the country, the government has undertaken steps to permit the country to shift its focus to other sectors such as manufacturing. The booming manufacturing hubs in countries in the Middle East are anticipated to boost the demand for water cooling towers. This, in turn, will drive the market. Further, there is an increase in the number of water cooling tower manufacturers in the region. For instance, in January 2019, EVAPCO, Inc. opened its office in the UAE. EVAPCO, Inc. provides several water cooling tower products that offer services to commercial HVAC, industrial refrigeration, power generation, and industrial processing sectors. Moreover, in the pharmaceutical industry, the UAE is experiencing growth, owing to the government support through incentive schemes to increase domestic production, brand-friendly environment, and rise in health care needs. Several new pharmaceutical plants are being launched in the country. Thus, the growing number of manufacturers and pharmaceutical plants is influencing the growth of the water cooling tower market.
In case of COVID-19, MEA is highly affected specially Turkey and South Africa. It is becoming clear with the COVID-19 pandemic spreading through the above-mentioned countries that few can avoid its effects, posing major challenges for all sectors. The COVID-19 pandemic has halted operations of many industrial-based companies across the region, which has negatively impacted the water cooling tower market as the industrial companies are one of the major end users of the water cooling towers. Furthermore, the nationwide lockdown in the region has severely hampered the power plants' production activities as the power demand has significantly reduced due to the halt of operational activities in the majority of plants and factories across the region. As power plants are one of the prime beneficiaries of water cooling towers, the less operational activities in power plants are restraining the growth of the market in the region. However, with the introduction of COVID-19 vaccines in the MEA, the economies of various countries are slowly resuming and people are slowly returning to normalcy. Hence, the market is expected to recover in the upcoming years.
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Market Overview and Dynamics
The MEA water cooling tower market is expected to grow from US$ 134.35 million in 2021 to US$ 160.07 million by 2028; it is estimated to grow at a CAGR of 2.5% from 2021 to 2028. With the rising regional demand for power consumption, the number of nuclear and geothermal power plants is rapidly increasing. Developing countries across the region have shown a significant demand for power generation. To fulfill this power requirement, many nuclear power plants are under construction. Furthermore, several MEA countries with existing nuclear power plants are planning for additional nuclear power plants to meet their power requirement and some of those countries are the UAE and Saudi Arabia. In addition to this, as per the International Energy Agency (IEA), nuclear plants’ contribution to power generation is expected to be about 8.5% by 2040. Hence, with the growing trend of rapid urbanization and industrialization across the region, the power consumption rates are expected to surge significantly in the coming years, and to fulfill this demand, the number of power plants will be increased. Thus, the growing power consumption is expected to create a lucrative opportunity for the water cooling tower market as the power plants are the major end users of the water cooling towers in MEA region.
Key Market Segments
In terms of type, the crossflow segment accounted for the largest share of the MEA water cooling tower market in 2020. In terms of application, the industrial segment held a larger market share of the MEA water cooling tower market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the MEA water cooling tower market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Babcock & Wilcox Enterprises, Inc.; Baltimore Aircoil Company; EVAPCO, Inc.; Hamon; MESAN Group; and SPX Cooling Technologies, Inc.
Reasons to buy report
- To understand the MEA water cooling tower market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA water cooling tower market
- Efficiently plan M&A and partnership deals in MEA water cooling tower market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA water cooling tower market
- Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region.
MEA Water Cooling Tower Market Segmentation
MEA Water Cooling Tower Market - By Type
- Crossflow
- Counterflow
- Forced Draft
- Induced Draft
- Others
MEA Water Cooling Tower Market - By Application
- Industrial
- Power Plant
- HVAC
MEA Water Cooling Tower Market - By Country
- Saudi Arabia
- UAE
- South Africa
- Rest of MEA
MEA Water Cooling Tower Market - Company Profiles
- Babcock & Wilcox Enterprises, Inc.
- Baltimore Aircoil Company
- EVAPCO, Inc.
- Hamon
- MESAN Group
- SPX Cooling Technologies, Inc.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. MEA Water Cooling Tower Market Landscape
4.1 Market Overview
4.2 MEA PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. MEA Water Cooling Tower Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Burgeoning Construction Activities across Several Countries
5.1.2 Stiff Government Rules and Policies
5.2 Market Restraints
5.2.1 Overpriced Maintenance and Upgradations
5.3 Market Opportunities
5.3.1 Increasing Number of Power Plants
5.4 Future Trends
5.4.1 Surging Popularity of Hybrid Cooling Towers
5.5 Impact Analysis of Drivers and Restraints
6. Water Cooling Tower Market – MEA Analysis
6.1 MEA Water Cooling Tower Market Overview
6.2 MEA Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
7. MEA Water Cooling Tower Market Analysis – By Type
7.1 Overview
7.2 MEA Water Cooling Tower Market Breakdown, By Type, 2020 and 2028
7.3 Crossflow
7.3.1 Overview
7.3.2 Crossflow: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
7.4 Counterflow
7.4.1 Overview
7.4.2 Counterflow: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
7.5 Forced Draft
7.5.1 Overview
7.5.2 Forced Draft: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
7.6 Induced Draft
7.6.1 Overview
7.6.2 Induced Draft: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
8. MEA Water Cooling Tower Market Analysis – By Application
8.1 Overview
8.2 MEA Water Cooling Tower Market, by Application (2020 and 2028)
8.3 Industrial
8.3.1 Overview
8.3.2 Industrial: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
8.4 Power Plant
8.4.1 Overview
8.4.2 Power Plant: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
8.5 HVAC
8.5.1 Overview
8.5.2 HVAC: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
9. MEA Water Cooling Tower Market – Country Analysis
9.1 Overview
9.1.1 MEA: Water Cooling Tower Market Breakdown, By Country
9.1.1.1 Saudi Arabia Water Cooling Tower Market, Revenue and Forecast to 2028 (US$ million)
9.1.1.1.1 Saudi Arabia Water Cooling Tower Market Breakdown, By Type
9.1.1.1.2 Saudi Arabia Water Cooling Tower Market Breakdown, By Application
9.1.1.2 UAE Water Cooling Tower Market, Revenue and Forecast to 2028 (US$ million)
9.1.1.2.1 UAE Water Cooling Tower Market Breakdown, By Type
9.1.1.2.2 UAE Water Cooling Tower Market Breakdown, By Application
9.1.1.3 South Africa Water Cooling Tower Market, Revenue and Forecast to 2028 (US$ million)
9.1.1.3.1 South Africa Water Cooling Tower Market Breakdown, By Type
9.1.1.3.2 South Africa Water Cooling Tower Market Breakdown, By Application
9.1.1.4 Rest of MEA Water Cooling Tower Market, Revenue and Forecast to 2028 (US$ million)
9.1.1.4.1 Rest of MEA Water Cooling Tower Market Breakdown, By Type
9.1.1.4.2 Rest of MEA Water Cooling Tower Market Breakdown, By Application
10. Impact of COVID-19 Pandemic on MEA Water Cooling Tower Market
10.1 MEA: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Babcock & Wilcox Enterprises, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Baltimore Aircoil Company
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 EVAPCO, Inc.
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Hamon
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 MESAN Group
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 SPX Cooling Technologies, Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. MEA Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. MEA Water Cooling Tower Market, Revenue and Forecast to 2028 – By Country (US$ million)
Table 3. Saudi Arabia Water Cooling Tower Market, Revenue and Forecast to 2028 – by Type (US$ million)
Table 4. Saudi Arabia Water Cooling Tower Market, Revenue and Forecast to 2028 – by Application (US$ million)
Table 5. UAE Water Cooling Tower Market, Revenue and Forecast to 2028 – by Type (US$ million)
Table 6. UAE Water Cooling Tower Market, Revenue and Forecast to 2028 – by Application (US$ million)
Table 7. South Africa Water Cooling Tower Market, Revenue and Forecast to 2028 – by Type (US$ million)
Table 8. South Africa Water Cooling Tower Market, Revenue and Forecast to 2028 – by Application (US$ million)
Table 9. Rest of MEA Water Cooling Tower Market, Revenue and Forecast to 2028 – by Type (US$ million)
Table 10. Rest of MEA Water Cooling Tower Market, Revenue and Forecast to 2028 – by Application (US$ million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. MEA Water Cooling Tower Market Segmentation
Figure 2. MEA Water Cooling Tower Market Segmentation – By Country
Figure 3. MEA Water Cooling Tower Market Overview
Figure 4. Crossflow Segment Held Largest Market Share in 2020
Figure 5. Industrial Segment held Largest Market Share in 2020
Figure 6. South Africa held Largest Market Share in 2020
Figure 7. MEA – PEST Analysis
Figure 8. MEA Water Cooling Tower Market: Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. MEA Water Cooling Tower Market: Impact Analysis of Drivers and Restraints
Figure 11. MEA Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. MEA Water Cooling Tower Market Revenue Share, by Type (2020 and 2028)
Figure 13. MEA Crossflow: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
Figure 14. MEA Counterflow: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 15. MEA Forced Draft: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 16. MEA Induced Draft: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 17. MEA Others: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 18. MEA Water Cooling Tower Market Revenue Share, by Application (2020 and 2028)
Figure 19. MEA Industrial: Water Cooling Tower – Revenue and Forecast to 2028 (US$ million)
Figure 20. MEA Power Plant: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
Figure 21. MEA HVAC: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
Figure 22. MEA: Water Cooling Tower Market, by Key Country – Revenue (2020) (USD Million)
Figure 23. MEA Water Cooling Tower Market Breakdown, By Country, 2020 & 2028 (%)
Figure 24. Saudi Arabia Water Cooling Tower Market, Revenue and Forecast To 2028 (US$ million)
Figure 25. UAE Water Cooling Tower Market, Revenue and Forecast To 2028 (US$ million)
Figure 26. South Africa Water Cooling Tower Market, Revenue and Forecast To 2028 (US$ million)
Figure 27. Rest of MEA Water Cooling Tower Market, Revenue and Forecast To 2028 (US$ million)
Figure 28. Impact of COVID-19 Pandemic in MEA Country Markets
- Babcock & Wilcox Enterprises, Inc.
- Baltimore Aircoil Company
- EVAPCO, Inc.
- Hamon
- MESAN Group
- SPX Cooling Technologies, Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the MEA water cooling tower market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the MEA water cooling tower market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth MEA market trends and outlook coupled with the factors driving the water cooling tower market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution