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Cooling Tower Rental Market Size, Share, Opportunities And Trends By Type (Natural Draft, Mechanical Draft), By End User (Construction, Oil & Gas, Chemicals, Others) And Geography - Forecasts From 2019 To 2024

Published: Mar 2020 | Report Code:  KSI061611993 | Pages:  116

The cooling tower rental market is estimated to witness a CAGR of 5.76% to reach US$1,021.548 million in 2024 from US$730.074 million in 2018. A cooling tower is the most imperative piece of equipment in any industry that is targeting to eliminate unwanted heat with minimum use of water. With heat being just a by-product of the entire production process, many industries might not feel the need to install it in their plants. Instead, they hire an appropriate cooling tower only when required. Cooling tower rentals are available with completely pre-packaged systems that are fully equipped for immediate deployment in any situation. Cooling towers are common in food processing plants, petroleum refineries, natural gas, and petrochemical plants. According to the method adopted to circulate air, they are classified into natural draft and mechanical draft.

Rapidly expanding industrial and manufacturing sector and rising demand for services such as ventilation, air conditioning, etc. is considered as the driving factor for the growth of the market. Renting cooling towers rather than purchasing provides numerous economics benefits which are expected to drive the growth of the market. Technological advancement in cooling towers is expected to further widen up the growth opportunities in the market. But these cooling towers require large quantities of water and there are limitations on its availability in certain regions which can act as a restraint for market growth. Fluctuations in oil prices impact the oil-dependent industries which in turn is affecting the cooling tower rental market.

DRIVERS
o Growing industrial and manufacturing sector
o Technological advancements

RESTRAINTS
o The requirement of a large quantity of water
o Fluctuations in oil prices

SEGMENTATION

The cooling tower rental market has been analyzed through the following segments:

• By Type
o Natural draft
o Mechanical draft

• By End Users
o Construction
o Oil & Gas
o Chemicals
o Others

• By Geography
o North America
o USA
o Canada
o Mexico

o South America
o Brazil
o Argentina
o Others

o Europe
o Germany
o France
o United Kingdom
o Spain
o Others

o Middle East and Africa
o Saudi Arabia
o Israel
o Others

o Asia Pacific
o China
o Japan
o South Korea
o India
o Others

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