The APAC water cooling tower market is expected to grow from US$ 361.57 million in 2021 to US$ 493.86 million by 2028; it is estimated to grow at a CAGR of 4.6% from 2021 to 2028.
China, India, Japan, South Korea, and Australia are major economies in APAC. Burgeoning popularity of hybrid cooling towers is expected to fuel the APAC water cooling tower market. In recent times, plume abatement cooling tower, also called the hybrid cooling tower, is gaining major traction. The growing popularity of the tower can be attributed to its enhanced cooling efficiency and reduced unwanted water vapor plumes, which prevent the environment from bad air quality and visual pollutions. Also, the hybrid cooling tower is finding an increased application in various industries due to its extremely low visibility of plumes. For instance, in July 2020, HAMON-B. GRIMM completed the installation of a plume abatement cooling tower consisting of 6 cells at airports across the region. The cooling tower is located very close to the airport runways, and due to its extremely low visible plumes in environment, the airport operations are functioning smoothly. Similarly, in July 2020, Hamon successfully installed another plume abated cooling tower in the APAC region. Thus, the hybrid cooling tower is trending and becoming popular due to its improved operational efficiency and low plume abatement capability, thereby driving the APAC water cooling tower market
In case of COVID-19, APAC is highly affected specially India. Due to the massive number of cases in India, the APAC region is greatly affected by COVID-19. In APAC region, China homes the largest population across the world, which is imposing greater risk to a large number of individuals. China is also a world leader of many global brands. According to the Organization for Economic Co-operation and Development (OECD), the pandemic has affected major economies of the region, including China, India, Australia, and Vietnam, and the market has experienced a downward industrial growth during the first two quarters of 2020. The sudden shutdown of all economic activities and industrial factories across all countries in the region has significantly reduced the application of air cooling towers and has negatively impacted the growth of the market. However, the HVAC-based companies have witnessed significant growth during the pandemic. The growth of the HVAC systems can be attributed to increased applications of data centers, owing to the rising need for extended server space among IT companies and educational institutions. Thus, the rising demand of data centers globally has increased the demand for water cooling towers to cool the data center premises. Hence, the COVID-19 pandemic has had an overall negative impact on water cooling tower manufactures in the region. However, the growth in the HVAC sector has stabilized the market growth to some extent, and with the resuming economy in various countries of the region, the market is expected to grow in the upcoming 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 APAC water cooling tower market. The APAC water cooling tower market is expected to grow at a good CAGR during the forecast period.
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APAC Water Cooling Tower Market Segmentation
APAC Water Cooling Tower Market – By Type
- Crossflow
- Counterflow
- Forced Draft
- Induced Draft
- Others
APAC Water Cooling Tower Market – By Application
- Industrial
- Power Plant
- HVAC
APAC Water Cooling Tower Market, by Country
- China
- Japan
- India
- South Korea
- Australia
- Rest of APAC
APAC Water Cooling Tower Market -Companies Mentioned
- Babcock & Wilcox Enterprises, Inc.
- Baltimore Aircoil Company
- BELL COOLING TOWERS
- EVAPCO, Inc.
- Hamon
- MESAN Group
- SPX Cooling Technologies, Inc.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. APAC Water Cooling Tower Market Landscape
4.1 Market Overview
4.2 APAC PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. APAC Water Cooling Tower Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Surging Construction Activities across Several Countries
5.1.2 Rigid Government Rules and Regulations
5.2 Market Restraints
5.2.1 Expensive Maintenance and Upgradations
5.3 Market Opportunities
5.3.1 Growing Number of Power Plants
5.4 Future Trends
5.4.1 Burgeoning Popularity of Hybrid Cooling Towers
5.5 Impact Analysis of Drivers and Restraints
6. Water Cooling Tower Market – APAC Analysis
6.1 APAC Water Cooling Tower Market Overview
6.2 APAC Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
7. APAC Water Cooling Tower Market Analysis – By Type
7.1 Overview
7.2 APAC Water Cooling Tower Market Breakdown, By Type, 2020 and 2028
7.3 Crossflow
7.3.1 Overview
7.3.2 Crossflow: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
7.4 Counterflow
7.4.1 Overview
7.4.2 Counterflow: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
7.5 Forced Draft
7.5.1 Overview
7.5.2 Forced Draft: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
7.6 Induced Draft
7.6.1 Overview
7.6.2 Induced Draft: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
7.7 Others
7.7.1 Overview
7.7.2 Others: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
8. APAC Water Cooling Tower Market Analysis – By Application
8.1 Overview
8.2 APAC Water Cooling Tower Market, by Application (2020 and 2028)
8.3 Industrial
8.3.1 Overview
8.3.2 Industrial: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
8.4 Power Plant
8.4.1 Overview
8.4.2 Power Plant: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
8.5 HVAC
8.5.1 Overview
8.5.2 HVAC: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
9. APAC Water Cooling Tower Market – Country Analysis
9.1 Overview
9.1.1 APAC: Water Cooling Tower Market, by Key Country
9.1.1.1 China: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 China: Water Cooling Tower Market, by Type
9.1.1.1.2 China: Water Cooling Tower Market, by Application
9.1.1.2 Japan: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Japan: Water Cooling Tower Market, by Type
9.1.1.2.2 Japan: Water Cooling Tower Market, by Application
9.1.1.3 India: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 India: Water Cooling Tower Market, by Type
9.1.1.3.2 India: Water Cooling Tower Market, by Application
9.1.1.4 South Korea: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 South Korea: Water Cooling Tower Market, by Type
9.1.1.4.2 South Korea: Water Cooling Tower Market, by Application
9.1.1.5 Australia: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 Australia: Water Cooling Tower Market, by Type
9.1.1.5.2 Australia: Water Cooling Tower Market, by Application
9.1.1.6 Rest of APAC: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of APAC: Water Cooling Tower Market, by Type
9.1.1.6.2 Rest of APAC: Water Cooling Tower Market, by Application
10. Impact of COVID-19 Pandemic on APAC Water Cooling Tower Market
10.1 APAC: Impact Assessment of COVID-19 Pandemic
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 Babcock & Wilcox Enterprises, Inc.
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Baltimore Aircoil Company
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 BELL COOLING TOWERS
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 EVAPCO, Inc.
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Hamon
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 MESAN Group
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 SPX Cooling Technologies, Inc.
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. APAC Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. APAC: Water Cooling Tower Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. China: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. China: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. Japan: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Japan: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. India: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. India: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. South Korea: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. South Korea: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. Australia: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Australia: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of APAC: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of APAC: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. APAC Water Cooling Tower Market Segmentation
Figure 2. APAC Water Cooling Tower Market Segmentation – By Country
Figure 3. APAC Water Cooling Tower Market Overview
Figure 4. Crossflow Segment Held Largest Market Share in 2020
Figure 5. Industrial Segment held Largest Market Share in 2020
Figure 6. China held Largest Market Share in 2020
Figure 7. APAC – PEST Analysis
Figure 8. APAC Water Cooling Tower Market: Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. APAC Water Cooling Tower Market: Impact Analysis of Drivers and Restraints
Figure 11. APAC Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. APAC Water Cooling Tower Market Revenue Share, by Type (2020 and 2028)
Figure 13. APAC Crossflow: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
Figure 14. APAC Counterflow: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 15. APAC Forced Draft: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 16. APAC Induced Draft: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 17. APAC Others: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 18. APAC Water Cooling Tower Market Revenue Share, by Application (2020 and 2028)
Figure 19. APAC Industrial: Water Cooling Tower – Revenue and Forecast to 2028 (US$ million)
Figure 20. APAC Power Plant: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
Figure 21. APAC HVAC: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
Figure 22. APAC: Water Cooling Tower Market, by Key Country – Revenue (2020) (USD Million)
Figure 23. APAC: Water Cooling Tower Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. China: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Japan: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. India: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. South Korea: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Australia: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Rest of APAC: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic in APAC Country Markets
- Babcock & Wilcox Enterprises, Inc.
- Baltimore Aircoil Company
- BELL COOLING TOWERS
- EVAPCO, Inc.
- Hamon
- MESAN Group
- SPX Cooling Technologies, Inc.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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