Europe Water Cooling Tower Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Crossflow, Counterflow, Forced Draft, Induced Draft, and Others) and Application (Industrial, Power Plant, and HVAC)
Market Introduction
The European water cooling tower market is segmented into France, Germany, Russia, Italy, the UK, and the Rest of Europe. The European region is one of the largest markets for manufacturing and consists of a group of more than 40 countries. Western European countries are more advanced than the Nordic and Eastern European countries, which is contributing significantly to the water cooling tower market as most industries are in the western part of Europe. Economically strong countries such as Germany, France, Italy, and the UK have been significantly applying water cooling towers in their large set of manufacturing industries including food & beverages, pharmaceuticals, and oil & gas. In addition to this, the region comprises one of the largest chemical industries in Europe. As per the European commission, in 2018, the region accounts about 17% of total global sales with turnover of around US$ 666 billion. In addition to this, the chemical industry represents around 7.5% of manufacturing sector of the European region in terms turnover. Hence, having a large presence of chemical industry is expected to proliferate the market growth chemical companies are considered one of the prime end-users of water cooling tower. Further, the region is known for one of the biggest nuclear power plants across the globe. As per the Government of Canada statistics, France and Russia are the two countries in Europe that generate 15% and 8% of the total nuclear power across the world, respectively, from their nuclear power plants. According to the International Atomic Energy Agency (IAEA), France has 56 nuclear power reactors in operation and its nuclear power plants accounted for 70.6% of total French electricity generation in 2019. Similarly, Russia generates a significant amount of power from its nuclear power plants. Thus, the major contribution of nuclear power plants in total power production in both countries is expected to positively impact the water cooling tower market in the region as the water cooling towers are extensively used by the nuclear power plants.
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.
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Market Overview and Dynamics
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. 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. Thus, the hybrid cooling tower is trending and becoming popular due to its improved operational efficiency and low plume abatement capability, thereby driving the Europe water cooling tower market.
Key Market Segments
In terms of type, the crossflow segment accounted for the largest share of the Europe water cooling tower market in 2020. In terms of application, the industrial segment held a larger market share of the Europe water cooling tower market in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the Europe water cooling tower market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are Babcock & Wilcox Enterprises, Inc.; Baltimore Aircoil Company; EVAPCO, Inc.; Hamon; MESAN Group; SPX Cooling Technologies, Inc.; and Vistech Cooling Systems.
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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 - Company Profiles
- Babcock & Wilcox Enterprises, Inc.
- Baltimore Aircoil Company
- EVAPCO, Inc.
- Hamon
- MESAN Group
- SPX Cooling Technologies, Inc.
- Vistech Cooling Systems
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
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