It is expected that the market for industrial water cooling systems will reach US$ 2,648 Million in 2022, expanding at a CAGR of 4.7 percent from 2022 to 2032. In 2022, the market is projected to be worth US$ 1,673.1 million. One factor propelling the growth of the industrial water cooling system market is the demand for water cooling systems in end user industries like the food and beverage and pharmaceutical sectors. Industrial water cooling systems saw a CAGR of 3.8 percent over the historical period from 2016 to 2021.
|Report Attribute||Key Statistics|
|Estimated Base Year Value (2021)||US$ 1,597.73 Million|
|Expected Market Value (2022)||US$ 1,673.1 Million|
|Anticipated Forecast Value (2032)||US$ 2,648 Million|
|Projected Growth Rate (2022-2032)||4.7% CAGR|
Water is the main chemical ingredient utilised in virtually every industrial sector, including manufacturing, electricity production, and petrochemicals. These companies use water for fabrication, processing, cooling, dilution, product transportation, cleaning, and as a general solvent.
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Before being recycled and used once more for a number of industrial operations, water needs to be cooled down to the optimal working temperature. These actions heat up the water and make it filthy.
Industrial water cooling systems are used when industries need to cool water. These companies employ a range of methods, including as heat exchangers, sizable cooling towers, and large-scale chillers.
The demand for industrial water cooling systems has improved in the current environment and is projected to continue to do so at a healthy rate in the years to come due to the global expansion in industrialization and the use of water for several industrial processes.
Industrial Water Cooling System Market: Dynamics
The World Business Council for Sustainable Development (WBCSD) estimates that over 22% of the available water is used for industrial purposes, with rich nations consuming over 55% of it and less developed nations using only 7%. By the year 2025, it is predicted that 1,170 cubic kilometres of water would have been used for industrial uses.
Industrial Water Cooling SystemMarket: Regional Outlook
The market of industrial water cooling system in the Asia Pacific region is expected to grow at a rapid rate due to high level of industrialization taking place in China, India and Japan. The markets in North America and Western Europe regions are expected grow at sluggish pace as compared to Asia Pacific region, owing to low demand for such cooling systems and maturity attained in terms of industrialization.
Growing petrochemical industry in the Latin America and Middle East regions is expected to contribute higher revenue returns, thereby improving the market in the said regions.
Industrial Water Cooling System Market: Market Participants
Examples of some of the market participants identified in the Global Industrial Water Cooling System market include:
- IWC (Pty) Ltd.
- Cold Shot Chillers
- Thermal Care, Inc.
- Parker Hannifin Corporation
- ThermoTek Inc.
- G.I. Industrial Holding S.p.A.
- Accudyne Industries
- Heuch Pty. Ltd.
- Rittal GmbH & Co. KG.
- Freeze Co Systems, Ltd.
- Hamon & Cie (International)
- SPX Corporation
- ENEXIO Management GmbH
- Johnson Controls PLC
- Berg Chilling Systems Inc.
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Industrial Water Cooling System Market Segmentation
Industrial Water Cooling System Market can be segmented as follows;
By Product type, the Industrial Water Cooling System can be segmented as:
- Dry Cooling
- Natural Draft Cooling Towers
- Mechanical Draft Cooling Towers
- Wet Cooling
- Hybrid Cooling
- Water Chillers
- Heat Exchangers
By Applications, the Industrial Water Cooling System market can be segmented as:
- Power Generation Plants
- Metal Working
- Food and Beverage
- Others (HVACR etc.)
The regional analysis includes
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia-Pacific (China, India, ASEAN, Australia & New Zealand)
- The Middle East and Africa (GCC Countries, S. Africa, Northern Africa)