North America Water Cooling Tower Market

Market Introduction

In North America, the US has one of the world’s largest manufacturing sectors, and as per The National Association of Manufacturers (NAM), the US, the country was valued at ~US$ 2.44 trillion in 2019. The country comprises a wide number of manufacturing sectors such as pharmaceutical, rubber and plastic, automotive, petrochemical, oil & gas, food processing, sugar refineries, and chemicals. These industries use water cooling towers to remove the excess heat from their plants.  Furthermore, North America has one the largest number of nuclear power plants across the globe. According to a report of the US Energy Information Administration (EIA), Government of Canada, and World Nuclear Association, North America had 64 nuclear power plants by the end of December 2020. The region generates more than 35% of the world’s total nuclear power and accounts for the highest region in terms of producing power from nuclear power plants. In addition to this, the region accounts for more than 10,000 utility-scale electric power plants including coal-fired power plants, geothermal power plants, and gas-fired power plants. Also, the region is witnessing many power plants under construction. Power plants are considered one the largest end users of water cooling towers as they use these towers to remove excess heat generated during electricity production. The region is also experiencing the rising consumption of power due to the large presence of industries and rise in demand for consumer goods. Thus, the presence of a wide range of industries and power plants is propelling the growth of the water cooling tower market in North America.

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.

North America Water Cooling Tower Strategic Insights

Strategic insights for the North America 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.

North America Water Cooling Tower Report Scope

North America Water Cooling Tower Regional Insights

The geographic scope of the North America 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 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. Strict government policies across the region is expected to fuel the market growth. Stringent government policies regarding water consumption for cooling machinery and plants in power generating plants are favoring the water cooling tower market across the region. The limited freshwater consumptions policy by the governments across the region is increasing the application of water cooling towers in various types of power plants such as nuclear power plants, coal-fired thermal power plants, and gas power thermal plants. For instance, government across the region recently approved the standard on water consumption limits for coal-fired thermal power plants. Thus, the stringent government policies are supporting the water cooling tower market and helping to proliferate its business across North America region.

Key Market Segments

In terms of type, the crossflow segment accounted for the largest share of the North America water cooling tower market in 2020. In terms of application, the industrial segment held a larger market share of the North America 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 North America 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; Delta Cooling Towers, Inc.; EVAPCO, Inc.; Hamon; MESAN Group; Samco Technologies, Inc.; and SPX Cooling Technologies, Inc. 

Reasons to buy report

• To understand the North America 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 North America water cooling tower market
• Efficiently plan M&A and partnership deals in North America 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 North America water cooling tower market 
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

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 - Company Profiles

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