Dry Cooler Market: Introduction
Dry cooler is an air-cooled device, which is utilized to remove excess heat from the system. Water is most preferably circulated through the cold media of the dry cooler, where the heat exchanger with the surrounding air cools the media. Exhaust fans are utilized to force the air through the dry cooler. So as to maintain a highly efficient process, a 5 Kelvin temperature difference is recommended between the cooling air and the medium. A dry cooler is often used in industries where heat removal is highly necessary, such as, process cooling or re-cooling.
Dry Cooler Market: Dynamics
The global dry cooler market has witnessed a gradual growth over the past decade and is likely to excel over the forecast period. Expansion in the IT, commercial and industrial sector has resulted in increased demand for dry coolers across all major developing economies. The macroeconomic factor, such as growing urbanization & industrial activities coupled with technological advancement in the HVAC industry is further augmenting the sales for dry cooler.
The significant increase in sales of dry cooler due to the growing concerns regarding efficient & effective operations in industrial operations is highly anticipated to drive the global dry cooler market. Moreover, considerable growth in the South and East Asia industrial sector and rising concerns regarding greenhouse gas emission is anticipated to create a significant opportunity for the global dry cooler market. Additionally, the superior performance characteristics of dry cooler such as, no or less water usage, no water treatment, less maintenance and operational safety is highly anticipated to boost the demand for dry cooler.
As dry cooler plays a significant role in helping a building operate more efficiently, dry cooler is gaining huge recognition across all regions. All the above mentioned major influencing features are highly anticipated to drive the global dry cooler market over the forecast period. The key restraining factor such as slow replacement rate, complex installation process of dry cooler and prominence of conventional coolers in the current market may hinder the global dry cooler market growth over the forecast period.
Dry Cooler Market: Regional Outlook
The global dry cooler market is segmented into seven regions: North America, Europe, MEA, East Asia (Japan, China, and South Korea), South Asia (India, Thailand, Malaysia, Indonesia, Philippines, and Rest of South Asia), Oceania (Australia, New Zealand) and Latin America. Among the above-mentioned countries, North America is projected to account for a notable market share due to the predominant IT sector.
East Asia is anticipated to witness a high growth in the global dry cooler market owing to the rise in industrial, construction and telecommunication expansion activities. Furthermore, South Asia and MEA is projected to showcase most enthusiastic growth in the global dry cooler market due to the rise in the urbanization coupled with a surge in power consumption across the region. Europe is one of the key matured regions that will create praiseworthy product demand opportunity through replacement of conventional cooler by advanced dry cooler over the forecast period due to the existence of significant robust infrastructure.
Dry Cooler Market: Prominent players
Prominent players for the global dry cooler market are Modine Manufacturing Company, Dry Coolers Inc., ConServ Building Services, LLC, Colmac Coil Manufacturing, Inc., Motivair Corporation, Aquatech S.r.l., Babcock & Wilcox Enterprises, Inc., Baltimore Aircoil International nv, Carrier Corporation, Thermax, Refteco Srl, ThermoKey S.p.A., Guntner U.S. LLC, Swegon Group AB, Vertiv Group Corp., EVAPCO, Inc. and Lennox International, among other key market players. The dry cooler market consists of well-diversified global and regional players with the global vendors ruling the market.
The research report presents a comprehensive assessment of the dry cooler market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The dry cooler market report provides analysis and information according to market segments such as geographies, application and industry.
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The Dry Cooler Market Report Covers Exhaustive Analysis On:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Dry Cooler Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Western Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- CIS and Russia
- Asia-Pacific (China, India, ASEAN, South Korea)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The Dry Cooler report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The Dry Cooler report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The Dry Cooler report also maps the qualitative impact of various market factors on market segments and geographies.
An Adaptive Approach to Modern-day Research Needs
The Dry Cooler Market Report Highlights:
- A Detailed overview of the parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
Dry Cooler Market: Segmentation
The global dry cooler market is segmented on the basis of product type, cooling capacity, end-use sector and region.
Based on the product type, the global dry cooler market is segmented as:
- 'V' type
- Horizontal Type
Based on the cooling capacity, the global dry cooler market is segmented as:
- Upto 50 kW
- 50 kW – 100 kW
- 100 kW – 500 kW
- Above 500 kW
Based on the end-use sector, the global dry cooler market is segmented as:
- Refinery & petrochemicals
- Information & Technology
- Power industry
“V” type dry cooler is anticipated to showcase extraordinary growth rate during the forecast period due to its low cost and its operational efficiency. On the other hand, information & technology sector segment is anticipated to see rapid market growth over the forecast period, attributed to phenomenal growth of the sector.