Global Cooling Tower Rental Market
Report Highlights
The Global Cooling Tower Rental Market was valued at USD 0.78 billion in 2016 and is projected to reach USD 1.2 billion by 2025, growing at a CAGR of 5.24% from 2017 to 2025.
A Cooling Tower is a heat rejection device that rejects waste heat to the atmosphere through the cooling of a water stream to a lower temperature. Productivity can suffer due to the limited capacity of permanent cooling towers, especially during the hot summer months and to avoid this, organizations use Cooling Tower rental system. This system have several benefits such as – provides supplement cooling water flows, Provide cooling for planned system turnarounds, increases capacity, reduce cold water temperatures, keeping productivity at maximum levels.
Market Dynamics:
1. Market Drivers
1.1 Increasing focus on renewable energy
1.2 Rise in economic benefits of rental cooling towers over purchased cooling towers
1.3 Rising adoption of rental cooling towers in refineries & chemical plants
1.4 Growing HVACR deployments
1.5 Growing need for supplemental cooling and emergency response
1.6 Advancements in cooling tower rental market
2. Market Restraints
2.1 Rising need for large quantities of water
2.2 Lack of technical expertise
2.3 Increasing focus on renewable energy
2.4 Growth in the nuclear power generation industry
Market Segmentation:
The Global Cooling Tower Rental Market is segmented on the design, type, capacity, end user, and region.
1. Design:
1.1 Natural Draft
1.2 Mechanical Draft
2. By Type:
2.1 Wet
2.2 Dry
2.3 Hybrid
3. By Capacity:
3.1 500-1000 tons
3.2 Up to 500 tons
3.3 1000-1500 tons
3.4 1500-3000 tons
3.5 Above 3000 tons
4. By End User:
4.1 Commercial
4.2 Industrial
5. By Region:
5.1 North America (U.S., Canada, Mexico)
5.2 Europe (Germany, UK, France, Rest of Europe)
5.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
5.4 Latin America (Brazil, Argentina, Rest of Latin America)
5.5 Middle East & Africa
Competitive Landscape:
The major players in the market are as follows:
1. Aggreko
2. Caterpillar
3. Sunbelt Rentals
4. Engie Refrigeration
5. KTK Kühlturm
6. Midwest Cooling Tower Services
7. Trane
8. ICS Cool Energy
9. SPX Corporation
10. United Rentals
11. Johnson Controls
12. Carrier Rental Systems
13. Jacir
14. Cooling Tower Depot
15. Baltimore Aircoil Australia
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Cooling Tower Rental Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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