Cooling Towers Market Size Is Projected To Reach .85 Billion By 2025Posted by Vipin Mishra on August 29th, 2017 Global Cooling Towers Market is expected to reach USD 4.85 billion by 2025, according to a new report conducted by Grand View Research, Inc. Cooling towers are used in power plants, particularly in thermoelectric power plants, to remove excess heat from the plant. With the rising global demand for electricity, the number of power plants is also expected to increase, thereby driving growth of this market. Furthermore, a tremendous rise in the number of construction activities across the residential and commercial sectors in developing countries is expected to boost the demand for this product. Additionally, rapid global industrialization is also a key driver expected to favorably impact the cooling towers market growth over the forecast period. Technological advancements \ are expected to provide improved cooling capacity, minimum components, improved installation & energy savings, and low maintenance cost, which is further anticipated to escalate market growth in the near future. Moreover, stringent government regulations relating to the use of cooling towers across different regions is also expected to positively impact market growth. However, environmental concerns related to cooling towers such as plume, drift, and water contamination are anticipated to moderately hamper the market demand. Nevertheless, the emergence of plume abated towers and drift eliminators is expected to overcome these environmental concerns and drive market growth in the near future. Energy-efficient towers provide optimal cooling while exhibiting eco-friendly properties. These facilitate in water conservation, provide high-efficiency motors in order to cut down on the operating cost, and reduce environmental concerns. These environmental benefits are also expected to drive the demand for the product. HVAC systems are generally implemented in commercial spaces, large offices, and shopping malls. Cooling towers are a mandatory component of an HVAC system, which is used to remove excess heat from the building. The increasing rate of urbanization and enhanced standard of living are expected to lead to the large-scale implementation of HVAC systems, thereby driving the market growth globally. Full Research Report on Global Cooling Towers Market Analysis: Further key findings from the report suggest:
View more reports of this category by Grand View Research at: Grand View Research has segmented the Global Cooling Towers Market on the basis of types, materials, applications, and regions: Cooling Towers Type Outlook (Revenue, USD Million; 2014 - 2025)
Cooling Towers Material Outlook (Revenue, USD Million; 2014 - 2025)
Cooling Towers Application Outlook (Revenue, USD Million; 2014 - 2025)
Cooling Towers Regional Outlook (Revenue, USD Million; 2014 - 2025)
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