Middle East & Africa Water Cooling Tower Market

Market Introduction

The MEA region includes various well-established economies, such as South Africa, the UAE, Saudi Arabia, and the Rest of MEA. Favorable government policies for strengthening the oil & gas industry are among the significant factors contributing to the water cooling tower market growth. With the rising industrialization, the adoption of water cooling towers in the oil & gas industry, food processing plants, and construction industry will grow. With the growing industrial sector, the penetration of water cooling towers is projected to increase. Israel, Turkey, and Saudi Arabia are a few countries that hold a significant position in industrial growth. The most noticeable changes are observed in the manufacturing sector of oil-exporting countries, including Oman, the UAE, and Saudi Arabia. According to the UNIDO data, the oil & gas industry contributes nearly 40% of the UAE’s GDP. In addition to further growth of the country, the government has undertaken steps to permit the country to shift its focus to other sectors such as manufacturing. The booming manufacturing hubs in countries in the Middle East are anticipated to boost the demand for water cooling towers. This, in turn, will drive the market. Further, there is an increase in the number of water cooling tower manufacturers in the region. For instance, in January 2019, EVAPCO, Inc. opened its office in the UAE. EVAPCO, Inc. provides several water cooling tower products that offer services to commercial HVAC, industrial refrigeration, power generation, and industrial processing sectors. Moreover, in the pharmaceutical industry, the UAE is experiencing growth, owing to the government support through incentive schemes to increase domestic production, brand-friendly environment, and rise in health care needs. Several new pharmaceutical plants are being launched in the country. Thus, the growing number of manufacturers and pharmaceutical plants is influencing the growth of the water cooling tower market.

In case of COVID-19, MEA is highly affected specially Turkey and South Africa. It is becoming clear with the COVID-19 pandemic spreading through the above-mentioned countries that few can avoid its effects, posing major challenges for all sectors. The COVID-19 pandemic has halted operations of many industrial-based companies across the region, which has negatively impacted the water cooling tower market as the industrial companies are one of the major end users of the water cooling towers. Furthermore, the nationwide lockdown in the region has severely hampered the power plants' production activities as the power demand has significantly reduced due to the halt of operational activities in the majority of plants and factories across the region. As power plants are one of the prime beneficiaries of water cooling towers, the less operational activities in power plants are restraining the growth of the market in the region. However, with the introduction of COVID-19 vaccines in the MEA, the economies of various countries are slowly resuming and people are slowly returning to normalcy. Hence, the market is expected to recover in the upcoming years.

Middle East & Africa Water Cooling Tower Strategic Insights

Strategic insights for the Middle East & Africa Water Cooling Tower provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Middle East & Africa Water Cooling Tower Report Scope

Middle East & Africa Water Cooling Tower Regional Insights

The geographic scope of the Middle East & Africa Water Cooling Tower refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The MEA water cooling tower market is expected to grow from US$ 134.35 million in 2021 to US$ 160.07 million by 2028; it is estimated to grow at a CAGR of 2.5% from 2021 to 2028. 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, several MEA 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 UAE and Saudi Arabia. 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 across the region, 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 water cooling tower market as the power plants are the major end users of the water cooling towers in MEA region.

Key Market Segments

In terms of type, the crossflow segment accounted for the largest share of the MEA water cooling tower market in 2020. In terms of application, the industrial segment held a larger market share of the MEA 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 MEA 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; and SPX Cooling Technologies, Inc. 

Reasons to buy report

• To understand the MEA water cooling tower market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for MEA water cooling tower market
• Efficiently plan M&A and partnership deals in MEA water cooling tower market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form MEA water cooling tower market 
• Obtain market revenue forecast for market by various segments from 2021-2028 in MEA region.

MEA Water Cooling Tower Market Segmentation 

MEA Water Cooling Tower Market - By Type

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

MEA Water Cooling Tower Market -

By Application

• Industrial
• Power Plant
• HVAC

MEA Water Cooling Tower Market - By Country

• Saudi Arabia
• UAE   
• South Africa    
• Rest of MEA

MEA Water Cooling Tower Market - Company Profiles

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