Cooling Tower Market Sees Upsurge With Steep Rate Of Establishment Of Industries – IndustryARC Research
March 17, 2017 - 8:30 PM EDT
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Cooling Tower Market Sees Upsurge With Steep Rate Of Establishment Of Industries - IndustryARC Research
Cooling Tower Market, Stays Evergreen With The Rising Number Of New Companies, Thus, Effectively Propelling Markets During The Forecast Period Till 2021.
Hyderabad, India, March 17, 2017 (GLOBE NEWSWIRE) -- The report “Cooling Tower Market: By Product (Evaporative, Dry, & Hybrid), By Design (Mechanical Draft & Natural Draft), By End-User (Power Generation, Chemical, Food & Beverage, HVACR, Petrochemical and Oil & Gas, Others) & By Region-Forecast (2016-2021)”, published by IndustryARC, estimates that with its need in all manufacturing industry sectors, the market shows extra growth potential especially rapidly in the APAC region.
Scope & Regional Forecast of the Cooling Tower Market:
Cooling towers are an imperative part of chemical plants. The prime task of a cooling tower is to reject heat into the atmosphere. They embody a relatively economical and dependable means of eliminating low-grade heat from cooling water. The make-up water source is used to restock water lost to evaporation. Hot water from heat exchangers is sent to the cooling tower. The water exits the cooling tower and is sent back to the exchangers or to other units for further cooling. Cooling towers fall into two main categories: Natural draft and Mechanical draft. Natural draft towers use very large concrete conduits to lead air through the media. Due to the large size of these towers, they are used only by utility power stations. Mechanical draft towers are much more widely used and utilize large fans to force or suck air through circulated water.
The cooling tower usage in the chemical and petrochemical industry helps the market in staying healthy and adds to its progression. This market’s growth in the pharmaceutical industry and food and beverage continue to be a vital potency for the cooling tower market. The cooling tower are used in various applications, such as chemical, petrochemical and oil & gas, HVACR, food & beverage, and power generation. In 2015, the power generation application is estimated to account for the largest market share among all the applications, in terms of value, followed by HVACR, food & beverage, chemical, and petrochemical and oil & gas. The HVACR application is estimated to register the highest CAGR between the forecast period. A detailed qualitative analysis of the factors responsible for driving and restraining growth of the cooling towers market and future opportunities are provided in the report.
Cooling Towers Market: By Types (Natural, Mechanical and Others); By Construction (Field-Erected and Others); By Method of Heat Transfer (Evaporative, Dry and Others); By Application (Pharmaceutical & Laboratories, Food and Beverage and Others); & Geography – Forecast (2016-2021) http://industryarc.com/Report/15541/cooling-towers-market.html
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