Europe Water Cooling Tower Market Trends and Analysis by 2028

The Europe water cooling tower market is expected to grow from US$ 425.98 million in 2021 to US$ 526.87 million by 2028; it is estimated to grow at a CAGR of 3.1% from 2021 to 2028.

The UK, Germany, France, Italy, and Russia are major economies in Europe. Burgeoning number of power plants is expected to fuel the market growth. With the rising regional demand for power consumption, the number of nuclear and geothermal power plants is rapidly increasing. Developing countries across the region have shown a significant demand for power generation. To fulfill this power requirement, many nuclear power plants are under construction. Furthermore, large no. of countries with existing nuclear power plants are planning for additional nuclear power plants to meet their power requirement and some of those countries are the UK and Russia. In addition to this, as per the International Energy Agency (IEA), nuclear plants’ contribution to power generation is expected to be about 8.5% by 2040. Hence, with the growing trend of rapid urbanization and industrialization, the power consumption rates are expected to surge significantly in the coming years, and to fulfill this demand, the number of power plants will be increased. Thus, the growing power consumption is expected to create a lucrative opportunity for the market players as the power plants are the major end users of the water cooling towers, thereby driving the Europe water cooling tower market

In case of COVID-19, Europe is highly affected specially France and Russia. The impact of COVID-19 differed from country to country across the European region as many countries witnessed an increase in the number of COVID-19 cases which attracted stricter and longer lockdown in the region. However, Western European countries have seen a comparatively faster recovery rate of COVID-19 patients and a reducing number of new cases due to their strong healthcare system. To protect its citizens from the COVID-19 virus, the European government has made tremendous investments in incorporating COVID-19 vaccines in its healthcare systems to cure patients and contain the spread of the virus. Due to the sudden outbreak of COVID-19 and subsequent lockdowns across Europe, the power plant industry had witnessed a major slump in its production because of the limited operations in the plants during the first two quarters of 2020. This development has negatively impacted the water cooling tower market as the power plants are recognized as one of the major beneficiaries of water cooling towers. However, the surge in demand for cooling system in industrial sector such as food & beverages, chemicals, and petrochemicals due have increased the demand of water cooling towers across the region. Furthermore, the slow resumption of various companies’ operational activities, coupled with relaxed lockdown norms in many European countries, is expected to support the recovery of the market in the coming years.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe water cooling tower market. The Europe water cooling tower market is expected to grow at a good CAGR during the forecast period.

Europe Water Cooling Tower Market Segmentation        

Europe Water Cooling Tower Market – By Type

• Crossflow
• Counterflow
• Forced Draft
• Induced Draft
• Others

Europe Water Cooling Tower Market – By Application

• Industrial
• Power Plant
• HVAC

Europe Water Cooling Tower Market, by Country

• France 
• Germany
• Italy
• UK
• Russia 
• Rest of Europe

Europe Water Cooling Tower Market -Companies Mentioned

• Babcock & Wilcox Enterprises, Inc.
• Baltimore Aircoil Company
• EVAPCO, Inc.
• Hamon
• MESAN Group
• SPX Cooling Technologies, Inc.
• Vistech Cooling Systems

Europe Water Cooling Tower Report Scope