PUNE, India, July 12, 2016 /PRNewswire/ --
According to the new market research report "Industrial Cooling System Market by End User (Power Generation, Industrial Manufacturing, Petrochemical Processing, Food Processing & Storage, Petroleum & Natural Gas Refining, Pharmaceutical, Data Center), Type & by Region - Global Forecasts to 2021", published by MarketsandMarkets, The market size is projected to reach at USD 17.24 Billion by 2021, at a CAGR of 5.0% from 2016 to 2021.
(Logo: http://photos.prnewswire.com/prnh/20160303/792302 )
Browse 85 market data Tables and 51 Figures spread through 168 Pages and in-depth TOC on "Industrial Cooling System Market".
Early buyers will receive 10% customization on this report.
Power generation was the fastest-growing end-user segment of the global industrial cooling system market
Power generation segment contributed the largest share to the industrial cooling system market in 2015, and is projected to be the fastest-growing application segment from 2016 to 2021. Although cooling systems are a pre-requisite in every industry, they find the highest use in the power generation segment, owing to the high demand from the power industry. Cooling systems are used in thermal and nuclear power plants to control temperature and pressure conditions.
Evaporative cooling system segment was the largest segment of the industrial cooling system market
Based on type, the industrial cooling system market has been segmented into evaporative cooling system, air cooling system, hybrid cooling system, and water cooling system. Evaporative cooling system was the largest segment of the market in 2015. Growth of the evaporative cooling system segment is driven by increasing demand for evaporative cooling system from the power generation and industrial manufacturing sectors of the region due to its relatively lower price and less energy requirements.
Asia-Pacific was the largest market for global industrial cooling system market in 2015, globally
Asia-Pacific was the largest market for Industrial Cooling System Market in 2015, owing to the rise in demand of industrial cooling system in this region. Asia-Pacific is the key commercial market for industrial cooling system globally and is expected to grow rapidly during the forecast period. One of the primary drivers for industrial cooling system market growth in the Asia-Pacific region is the steady economic development in the region. In addition, an imposing growth of industrialization in developing countries of the region, such as China and India, is also driving the market.
Key players operational in the industrial cooling system market include Baltimore Aircoil Company (U.S.), Bell Cooling Tower (India), Brentwood Industries Inc. (U.S.), Hamon Group (Belgium), Johnson Controls Inc. (U.S.), Paharpur Cooling Towers (India), SPIG S.p.A. (Italy), and SPX Corporation (U.S.).
Browse Related Reports:
Cooling Tower Market by Type (Dry, Evaporative, Hybrid), by Design (Natural, Mechanical), by Construction Material (Concrete, Steel, FRP, Others), by Application (Power, HVACR, Food & Beverages, Others), by Region - Trends & Forecasts to 2020
District Cooling Market by Application (Commercial, Residential, Industrial and Others) - Global Trends & Forecasts to 2019
Know More About our Knowledge Store @ http://www.marketsandmarkets.com/Knowledgestore.asp
MarketsandMarkets is the world's No. 2 firm in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
Markets and Markets
UNIT no 802, Tower no. 7, SEZ
Magarpatta city, Hadapsar
Pune, Maharashtra 411013, India
Visit MarketsandMarkets Blog @ http://www.marketsandmarketsblog.com/market-reports/chemical
Connect with us on LinkedIn @ http://www.linkedin.com/company/marketsandmarkets