PUNE, India, Aug. 30, 2022 (GLOBE NEWSWIRE) — The global Cooling Tower Market size was $3.82 billion in 2021. The market is expected to keep growing $3.94 billion 2022 to $5.29 billion until 2029 at a CAGR of 4.3% in the period 2022-2029. Fortune Business Insights™ publishes this information in a report entitled “Cooling Towers Market, 2022-2029”. According to the report, the market is expected to grow owing to increased construction activities in both developed and developing countries.
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List of Major Players Mentioned in the Cooling Towers Market Report:
- Krones AG (Germany)
- SPX CORPORATION (USA)
- Babcock & Wilcox Enterprises, Inc. (US)
- EWK (Spain)
- Kelvion Holding GmbH (Germany)
- HAMON & CIE (INTERNATIONAL) SA (Belgium)
- MITA Cooling Technologies Srl (Italy)
- JACIR – GOHL (Romania)
- ILMED IMPIANTI SRL (Italy)
- JAEGGI Hybridtechnologie AG (USA)
- EVAPCO, Inc. (USA)
Effects of COVID-19:
Vacant commercial space amid pandemic hampering market growth due to rising Legionella bacteria
During the COVID-19 pandemic, many commercial and industrial buildings stood vacant and in use due to restrictions imposed by governments. The workplaces were also closed during the first lockdown phase. These factors increased the risk of an increase in Legionella bacteria, which impacted cooling tower demand during the pandemic period. Additionally, the growth of the oil and gas industry has been hampered during the pandemic, which has hampered the growth of the global cooling tower market.
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Scope and segmentation of the report:
| report coverage | details |
| forecast period | 2022-2029 |
| Forecast CAGR | 4.3% |
| Value prognosis 2029 | $5.29 billion |
| base year | 2021 |
| Cooling Towers Market Size in 2021 | $3.82 billion |
| Historical… |
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