Technological Advancements in Cooling Tower Market

PUNE, India, 2021-Aug-13 — /EPR Network/ — New product launches, expansions, and agreements& contractswerethe key strategies adopted by the industry players to achieve growth in the cooling tower market between 2012 and 2015. Cooling tower is an integral part of any refrigeration system, used for heat dissipation into the atmosphere through the evaporative process. These towersare used in industries, such as chemical, petrochemical and oil & gas, HVACR, food & beverage, and power generation.They are also used in different manufacturing processes industries, where cooling process is required.

Increasing government regulations, technological advances, and the demand for efficient use of energy have led various end-use industries to focus on energy saving, thus leading to an increase in the demand for cooling tower. These aspects have encouraged companies to adopt strategies, such as new product launches, expansions, and agreements & contracts. Some of the major players,such asBaltimore Aircoil Company (U.S.), Hamon & Cie International (Belgium),andSPX Corporation (U.S.) have adopted this strategy to develop their businessesglobally.

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Besides new product launches and expansions, the companies have adopted of joint ventures and acquisitions to expand their market share and distribution network. These strategies also accounted for a significant share of the overall growth strategies adopted by the players in the cooling towermarket between 2012 and 2015.

Key players of cooling tower market:

Baltimore Aircoil Company Inc. (U.S.) develops and manufactures evaporative cooling tower, thermal storage, and heat transfer equipment. It offers a wide range of cooling tower, such as, closed circuit cooling tower and evaporative cooling tower. The company’s cooling tower are used in applications, such as district cooling plants, HVACR, light/industrial manufacturing, and chemical & petroleum processing. The company follows strategies,including new product development, to increase its global market share. The company is launching numerous products to increase its product portfolio and provide improved services to its end users. Its products are designed for applications requiring high energy efficiency, increased thermal performance, and minimal sound.

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Enexio (Germany) offers cooling tower under its dry cooling and wet cooling systems. It is a standalone company, which branched out from the heat exchanger segment of the GEA Group AG (Germany). The company has a huge geographic reach and serves international markets and clients through its subsidiaries.The power cooling solutions division of GEA Group AG (Germany) will appear separately and independently under the new name ENEXIO (Germany), which will help the company expand its services to the current customer base. Such developments are a part of strategies adopted by the company to consolidate and optimize its production network.

Apart from the above-mentioned market players, Bell Cooling Tower (India), Brentwood Industries Inc. (U.S.), Johnson Controls Inc. (U.S.), Paharpur Cooling Towers (India), SPIG S.p.A. (Italy), SPX Corporation (U.S.), and Star Cooling Towers Private Ltd. (India) are the other most active players in the cooling tower market.

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