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.
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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
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. Europe Water Cooling Tower Market Landscape
4.1 Market Overview
4.2 Europe PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Europe Water Cooling Tower Market – Key Industry Dynamics
5.1 Market Drivers
5.1.1 Escalating Construction Activities across Several Countries
5.1.2 Rigorous Government Rules and Policies
5.2 Market Restraints
5.2.1 Overpriced Maintenance and Upgradations
5.3 Market Opportunities
5.3.1 Burgeoning Number of Power Plants
5.4 Future Trends
5.4.1 Surging Popularity of Hybrid Cooling Towers
5.5 Impact Analysis of Drivers and Restraints
6. Water Cooling Tower Market – Europe Analysis
6.1 Europe Water Cooling Tower Market Overview
6.2 Europe Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
7. Europe Water Cooling Tower Market Analysis – By Type
7.1 Overview
7.2 Europe 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. Europe Water Cooling Tower Market Analysis – By Application
8.1 Overview
8.2 Europe 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. Europe Water Cooling Tower Market – Country Analysis
9.1 Overview
9.1.1 Europe: Water Cooling Tower Market, by Key Country
9.1.1.1 France: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.1.1 France: Water Cooling Tower Market, by Type
9.1.1.1.2 France: Water Cooling Tower Market, by Application
9.1.1.2 Germany: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.2.1 Germany: Water Cooling Tower Market, by Type
9.1.1.2.2 Germany: Water Cooling Tower Market, by Application
9.1.1.3 Italy: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.3.1 Italy: Water Cooling Tower Market, by Type
9.1.1.3.2 Italy: Water Cooling Tower Market, by Application
9.1.1.4 UK: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.4.1 UK: Water Cooling Tower Market, by Type
9.1.1.4.2 UK: Water Cooling Tower Market, by Application
9.1.1.5 Russia: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.5.1 Russia: Water Cooling Tower Market, by Type
9.1.1.5.2 Russia: Water Cooling Tower Market, by Application
9.1.1.6 Rest of Europe: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
9.1.1.6.1 Rest of Europe: Water Cooling Tower Market, by Type
9.1.1.6.2 Rest of Europe: Water Cooling Tower Market, by Application
10. Impact of COVID-19 Pandemic on Europe Water Cooling Tower Market
10.1 Europe: 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 EVAPCO, Inc.
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 Hamon
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 MESAN Group
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 SPX Cooling Technologies, Inc.
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 Vistech Cooling Systems
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. Europe Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Table 2. Europe: Water Cooling Tower Market, by Country – Revenue and Forecast to 2028 (US$ Million)
Table 3. France: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 4. France: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 5. Germany: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 6. Germany: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 7. Italy: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 8. Italy: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 9. UK: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 10. UK: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 11. Russia: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 12. Russia: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 13. Rest of Europe: Water Cooling Tower Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Rest of Europe: Water Cooling Tower Market, by Application – Revenue and Forecast to 2028 (US$ Million)
Table 15. List of Abbreviation
LIST OF FIGURES
Figure 1. Europe Water Cooling Tower Market Segmentation
Figure 2. Europe Water Cooling Tower Market Segmentation – By Country
Figure 3. Europe 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. France held Largest Market Share in 2020
Figure 7. Europe – PEST Analysis
Figure 8. Europe Water Cooling Tower Market: Ecosystem Analysis
Figure 9. Expert Opinion
Figure 10. Europe Water Cooling Tower Market: Impact Analysis of Drivers and Restraints
Figure 11. Europe Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 12. Europe Water Cooling Tower Market Revenue Share, by Type (2020 and 2028)
Figure 13. Europe Crossflow: Water Cooling Tower Market Revenue and Forecast to 2028 (US$ million)
Figure 14. Europe Counterflow: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 15. Europe Forced Draft: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 16. Europe Induced Draft: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 17. Europe Others: Water Cooling Tower Market Revenue and Forecast to 2028(US$ million)
Figure 18. Europe Water Cooling Tower Market Revenue Share, by Application (2020 and 2028)
Figure 19. Europe Industrial: Water Cooling Tower – Revenue and Forecast to 2028 (US$ million)
Figure 20. Europe Power Plant: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
Figure 21. Europe HVAC: Water Cooling Tower Market– Revenue and Forecast to 2028 (US$ million)
Figure 22. Europe: Water Cooling Tower Market, by Key Country – Revenue (2020) (USD Million)
Figure 23. Europe: Water Cooling Tower Market Revenue Share, by Key Country (2020 and 2028)
Figure 24. France: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Germany: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Italy: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. UK: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Russia: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Rest of Europe: Water Cooling Tower Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Impact of COVID-19 Pandemic in Europe Country Markets
- Babcock & Wilcox Enterprises, Inc.
- Baltimore Aircoil Company
- EVAPCO, Inc.
- Hamon
- MESAN Group
- SPX Cooling Technologies, Inc.
- Vistech Cooling Systems
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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