Evaporative Cooling Market Size and Overview:
The global evaporative cooling market estimated to be valued US$ 6.2 Bn in 2018 and poised to grow at significant CAGR of 5.9% over 2019-2025. Some of the key factors influencing the market growth include demand for cost-effective cooling solution, increased e-commerce activity, favorable regulations for sustainable energy across the world, adoption of evaporative coolers in data centers, rapid adoption of big data and advancements in technologies and their benefits. However, dependency on external climate is the major factor restricting the market growth.
Global Evaporative Cooling Market Report Description:
Global evaporative cooling market report gives comprehensive outlook on evaporative cooling across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global evaporative cooling market gives historical, current, and future market sizes (US$ Mn) on the basis of type of cooling, application, distribution channel and region. This report studies global evaporative cooling market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global evaporative cooling market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global evaporative cooling market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global evaporative cooling market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global evaporative cooling products.
Adoption of Evaporative Coolers in Data Centers are fueling the Market Growth
An evaporative cooler is essentially a large fan that draws warm air through water-moistened pads. As the water in the pads evaporates, the air is chilled and pushed out to the room. Data centers are an integral part of society, and those who work in the industry know that cooling has been and will always be an important part of this ecosystem. The increasing demand for data processing in recent years along with advances in computer and electronic technology produced a rapid growth in the data center sector. The growth in data center number and power densities is leading to an increase in energy demand. Cooling systems have evolved over the years. Data centers require a highly consistent and reliable source of cooling that doesn’t moisturize environments full of sensitive electronic equipment such as servers and mainframes.
Asia Pacific Accounts for Larger Market Revenue Share in Global Evaporative Cooling Market
Asia Pacific accounted for larger revenue share in global evaporative cooling market with considerable CAGR. The growth in this region is due to adoption of cloud services, increased digitization and penetration of e-commerce. India are Japan are the major contributors for the growth of the market in the region. North America held substantial market growth during estimated period owing to various government standards, demand for data centers is growing at a fast pace, advancements in technologies and popularity of evaporative cooling.
Key player’s profiles in the global evaporative cooling market include:
- Delta Cooling TowersInc.
- Condair Group
- SPX Cooling Technologies
- Enexio Water Technologies GmbH
- Eco Cooling
- Baltimore Aircoil Company
- Celtic Cooling
- Colt Group
- Celsius Design Ltd
Global evaporative cooling market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In February 2018, SPX Cooling Technologies Inc. launched new Marley MD Everest counterflow cooling tower. The Marley MD Everest cooling tower is designed to meet HVAC demands and is suitable for a wide range of applications.
By Type of Cooling
- Confinement Farming
- Other Applications
By Distribution Channel
- Big Box Retailers
- HVAC Contractors and Distributors
- Other Distribution Channels
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Findings of the Report:
- Global evaporative cooling market expanding at significant CAGR over 2019 to 2025 due to adoption of evaporative coolers in data centers
- Based on type of cooling, direct segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global Evaporative Cooling market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market