North America Water Cooling Tower Market Outlook and Strategic Insights by 2028

The North America water cooling tower market is expected to grow from US$ 626.41 million in 2021 to US$ 825.03 million by 2028; it is estimated to grow at a CAGR of 4.0% from 2021 to 2028.

The US, Canada, and Mexico are economies in North America. Growth in construction activities across several countries is expected to fuel the market growth. The growing urbanization in developing economies such as Mexico are resulting in increased number of construction activities. This factor is fueling the demand for water cooling towers across the region. The rising construction of industrial and commercial properties is increasing the demand for heat, ventilation, and air conditioning (HVAC) systems as these systems are more suitable for commercial and industrial cooling and ventilation requirements. Cooling towers are a mandatory component of an HVAC system, which is used to remove excess heat from the building premises. HVAC systems have extensive applications in commercial properties such as shopping malls, corporate offices, hotels, retail stores, and warehouses. The rising industrialization is causing an increase in the construction of plants and factories of various industries such as chemical, pharmaceutical, rubber and plastic, automotive, petrochemical, oil & gas, food processing, and sugar refineries. The industrial segment is considered one of the prime users of water cooling towers as these industries generate extensive heat during their operations. The growth of the various industries can be attributed to the increasing demand for consumer goods and the rising disposable income of consumers in several economies. Thus, the rapid urbanization and industrialization in economies such as Mexico are fueling the construction activities and subsequently proliferating the demand for water cooling towers market across North America region.

In case of COVID-19, North America is highly affected specially the US. The shutdown of manufacturing industries due to the COVID-19 pandemic hampered the operations of various industries which has negatively impacted the market. However, the water cooling tower has been growing with rising demand of HVAC system in commercial places. HVAC system are widely used in commercial building to maintain the cooling temperature of premises. Also, the outbreak of COVID-19 has increased the demand of data centers due to the rising cloud based business activities, which extended server spaces requirement by many corporates to support efficiently its work from home culture during the pandemic. Moreover, due to the government’s social distancing norms to contain the spread of COVID-19 viruses, many companies from North America have started their operations virtually. This has led many employees to work from home. Further, companies required more data space to smoothly function their operations, and this factor has bolstered the demand for data centers and subsequently increased the application of water cooling towers in data centers. However, the supply chain of water cooling tower components was disrupted due to partial restriction on cargo and transport at the beginning of the pandemic, but soon market overcame this challenge. Hence, the sudden rise in demand for water cooling towers from HVAC companies has stabilized the growth of the market, and the market is expected to recover its overall growth with the resumption of work in major industries in the region.

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 North America water cooling tower market. The North America water cooling tower market is expected to grow at a good CAGR during the forecast period.

North America Water Cooling Tower Market Segmentation       

North America Water Cooling Tower Market – By Type

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

North America Water Cooling Tower Market – By Application

• Industrial
• Power Plant
• HVAC

North America Water Cooling Tower Market, by Country

• US
• Canada       
• Mexico

North America Water Cooling Tower Market -Companies Mentioned

• Babcock & Wilcox Enterprises, Inc.
• Baltimore Aircoil Company
• Delta Cooling Towers, Inc.
• EVAPCO, Inc.
• Hamon
• MESAN Group
• Samco Technologies, Inc.
• SPX Cooling Technologies, Inc.

North America Water Cooling Tower Report Scope