North America 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
In North America, the US has one of the world’s largest manufacturing sectors, and as per The National Association of Manufacturers (NAM), the US, the country was valued at ~US$ 2.44 trillion in 2019. The country comprises a wide number of manufacturing sectors such as pharmaceutical, rubber and plastic, automotive, petrochemical, oil & gas, food processing, sugar refineries, and chemicals. These industries use water cooling towers to remove the excess heat from their plants. Furthermore, North America has one the largest number of nuclear power plants across the globe. According to a report of the US Energy Information Administration (EIA), Government of Canada, and World Nuclear Association, North America had 64 nuclear power plants by the end of December 2020. The region generates more than 35% of the world’s total nuclear power and accounts for the highest region in terms of producing power from nuclear power plants. In addition to this, the region accounts for more than 10,000 utility-scale electric power plants including coal-fired power plants, geothermal power plants, and gas-fired power plants. Also, the region is witnessing many power plants under construction. Power plants are considered one the largest end users of water cooling towers as they use these towers to remove excess heat generated during electricity production. The region is also experiencing the rising consumption of power due to the large presence of industries and rise in demand for consumer goods. Thus, the presence of a wide range of industries and power plants is propelling the growth of the water cooling tower market in North America.
In case of COVID-19, North America is highly affected specially the US. The shutdown of manufacturing industries due to the COVID-19 pandemic hampered the operations of various industries which has negatively impacted the market. However, the water cooling tower has been growing with rising demand of HVAC system in commercial places. HVAC system are widely used in commercial building to maintain the cooling temperature of premises. Also, the outbreak of COVID-19 has increased the demand of data centers due to the rising cloud based business activities, which extended server spaces requirement by many corporates to support efficiently its work from home culture during the pandemic. Moreover, due to the government’s social distancing norms to contain the spread of COVID-19 viruses, many companies from North America have started their operations virtually. This has led many employees to work from home. Further, companies required more data space to smoothly function their operations, and this factor has bolstered the demand for data centers and subsequently increased the application of water cooling towers in data centers. However, the supply chain of water cooling tower components was disrupted due to partial restriction on cargo and transport at the beginning of the pandemic, but soon market overcame this challenge. Hence, the sudden rise in demand for water cooling towers from HVAC companies has stabilized the growth of the market, and the market is expected to recover its overall growth with the resumption of work in major industries in the region.
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Market Overview and Dynamics
The North America water cooling tower market is expected to grow from US$ 626.41 million in 2021 to US$ 825.03 million by 2028; it is estimated to grow at a CAGR of 4.0% from 2021 to 2028. Strict government policies across the region is expected to fuel the market growth. Stringent government policies regarding water consumption for cooling machinery and plants in power generating plants are favoring the water cooling tower market across the region. The limited freshwater consumptions policy by the governments across the region is increasing the application of water cooling towers in various types of power plants such as nuclear power plants, coal-fired thermal power plants, and gas power thermal plants. For instance, government across the region recently approved the standard on water consumption limits for coal-fired thermal power plants. Thus, the stringent government policies are supporting the water cooling tower market and helping to proliferate its business across North America region.
Key Market Segments
In terms of type, the crossflow segment accounted for the largest share of the North America water cooling tower market in 2020. In terms of application, the industrial segment held a larger market share of the North America 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 North America 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; Delta Cooling Towers, Inc.; EVAPCO, Inc.; Hamon; MESAN Group; Samco Technologies, Inc.; and SPX Cooling Technologies, Inc.
Reasons to buy report
- To understand the North America 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 North America water cooling tower market
- Efficiently plan M&A and partnership deals in North America 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 North America water cooling tower market
- Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.
North America Water Cooling Tower Market Segmentation
North America Water Cooling Tower Market - By Type
- Crossflow
- Counterflow
- Forced Draft
- Induced Draft
- Others
North America Water Cooling Tower Market - By Application
- Industrial
- Power Plant
- HVAC
North America Water Cooling Tower Market - By Country
- US
- Canada
- Mexico
North America Water Cooling Tower Market - Company Profiles
- Babcock & Wilcox Enterprises, Inc.
- Baltimore Aircoil Company
- Delta Cooling Towers, Inc.
- EVAPCO, Inc.
- Hamon
- MESAN Group
- Samco Technologies, Inc.
- 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. North America Water Cooling Tower Market Landscape
4.1 Market Overview
4.2 North America PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. North America Water Cooling Tower Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Growth in Construction Activities across Several Countries
5.1.2 Strict Government Policies
5.2 Market Restraints
5.2.1 High Installation and Maintenance Cost
5.3 Market Opportunities
5.3.1 Increasing Number of Power Plants
5.4 Future Trends
5.4.1 Rising Popularity of Hybrid Cooling Towers
5.5 Impact Analysis of Drivers and Restraints
6. Water Cooling Tower Market – North America Analysis
6.1 North America Water Cooling Tower Market Overview
6.2 North America Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
7. North America Water Cooling Tower Market Analysis – By Type
7.1 Overview
7.2 North America 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. North America Water Cooling Tower Market Analysis – By Application
8.1 Overview
8.2 North America 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. North America Water Cooling Tower Market – Country Analysis
9.1 Overview
9.1.1 North America: Water Cooling Tower Market, by Key Country
9.1.1.1 US: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 US: Water Cooling Tower Market, by Type
9.1.1.1.2 US: Water Cooling Tower Market, by Application
9.1.1.2 Canada: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Canada: Water Cooling Tower Market, by Type
9.1.1.2.2 Canada: Water Cooling Tower Market, by Application
9.1.1.3 Mexico: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Mexico: Water Cooling Tower Market, by Type
9.1.1.3.2 Mexico: Water Cooling Tower Market, by Application
10. Impact of COVID-19 Pandemic on North America Water Cooling Tower Market
10.1 North America: 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 Delta Cooling Towers, 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 EVAPCO, Inc.
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 Hamon
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 MESAN Group
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
12.7 Samco Technologies, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 SPX Cooling Technologies, Inc.
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. North America Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. North America: Water Cooling Tower Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. US: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. US: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. Canada: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Canada: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million).
Table 7. Mexico: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Mexico: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. List of Abbreviation
LIST OF FIGURES
Figure 1. North America Water Cooling Tower Market Segmentation
Figure 2. North America Water Cooling Tower Market Segmentation – By Country
Figure 3. North America 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. The US held Largest Market Share in 2020
Figure 7. North America – PEST Analysis
Figure 8. North America Water Cooling Tower Market: Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. North America Water Cooling Tower Market: Impact Analysis of Drivers and Restraints
Figure 11. North America Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. North America Water Cooling Tower Market Revenue Share, by Type (2020 and 2028)
Figure 13. North America Crossflow: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
Figure 14. North America Counterflow: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 15. North America Forced Draft: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 16. North America Induced Draft: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 17. North America Others: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 18. North America Water Cooling Tower Market Revenue Share, by Application (2020 and 2028)
Figure 19. North America Industrial: Water Cooling Tower – Revenue and Forecast to 2028 (US$ million)
Figure 20. North America Power Plant: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
Figure 21. North America HVAC: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
Figure 22. North America: Water Cooling Tower Market, by Key Country – Revenue (2020) (USD Million)
Figure 23. North America: Water Cooling Tower Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. US: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Canada: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Mexico: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Impact of COVID-19 Pandemic in North American Country Markets
- Babcock & Wilcox Enterprises, Inc.
- Baltimore Aircoil Company
- Delta Cooling Towers, Inc.
- EVAPCO, Inc.
- Hamon
- MESAN Group
- Samco Technologies, Inc.
- SPX Cooling Technologies, Inc.
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the North America water cooling tower market.
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- Scrutinize in-depth North America market trends and outlook coupled with the factors driving the water cooling tower market, as well as those hindering it
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