PUNE, India, December 27, 2016 /PRNewswire/ --
The report "Concrete Cooling Market by Type (Water Cooling, Ice Cooling, Air Cooling, Liquid Nitrogen Cooling), Application (Highway Construction, Dams & Locks Construction, Port Construction, Nuclear Plant Construction) and Region - Global Forecast to 2026", published by MarketsandMarkets, was valued at USD 936.0 Million in 2015 and is projected to reach USD 1,722.4 Million by 2026, at a CAGR of 5.7% from 2016 to 2026.
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Increasing demand of concrete cooling systems from the Middle East region and regions which have high temperatures and require large amounts of concrete are projected to drive the growth of the market in the future.
Water cooling is the fastest-growing type segment of the global concrete cooling market
The water cooling segment is projected to be the fastest growing segment in the concrete cooling market, by type, from 2016 to 2026. This growth can be attributed to the easy availability of water in most regions across the world. Water cooling is also an easy to use, cost-effective method of concrete cooling which makes it widely acceptable across regions.
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Highway construction application accounted for the largest market share in the global concrete cooling market
The highway construction segment accounted for the largest market share in 2015. This large share can be attributed to the regions that have a hot climate. Local geography, climate, and architectural design of the highway being constructed are some of the key factors that are to be considered while selecting the type of concrete cooling system. The right cooling method helps in improving the strength of the concrete in the long-term, thus making the structure strong enough to last for years.
The Middle East region was the largest market for concrete cooling systems in 2015
The Middle East region was the largest concrete cooling market in 2015 owing to the rise in demand for concrete cooling systems in this region. This increased demand can be attributed to the growing construction activities and the high temperatures in the region. To achieve appropriate curing of concrete in such temperatures, concrete cooling solutions usage is quintessential. The UAE, Saudi Arabia, and Qatar led the Middle East concrete cooling market in 2015 in terms of consumption. The concrete cooling market in Saudi Arabia is projected to grow at the highest CAGR among all countries in the Middle East region between 2016 and 2026.
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Key players operational in the concrete cooling market include KTI-Plersch Kältetechnik GmbH (Germany), Fujian Snowman Co., Ltd. (China), Coldcrete Inc. (U.S.), ConCool LLC (U.S.), Kirloskar Pneumatic Company Limited (India), LINTEC Germany GmbH (Germany), Icelings (India), North Star Ice Equipment Corporation (U.S.), Recom Ice Systems (Netherlands), and Focusun Refrigeration Corporation (China).
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