Industrial Cooling Systems Market is Estimated to Witness High Growth Owing to Advancement in Energy Efficient Cooling Technologies
The industrial cooling systems market involve a wide range of products such as evaporative cooling systems, air cooling systems, hybrid cooling systems and water cooling towers that help remove excess heat from industrial machinery, data centers, and various manufacturing plants. These systems play a vital role in various end-use industries such as power generation, chemical & petrochemical, food & beverage and others by maintaining optimum temperatures for smooth operations. The growing demand for energy efficient cooling from manufacturing plants along with the need for reliable temperature control systems have been fueling the sales of industrial cooling systems globally.
The Global industrial cooling systems market is estimated to be valued at US$ 123.57 Bn in 2024 and is expected to exhibit a CAGR of 5.1% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Industrial Cooling Systems are AGC Inc., Fuyao Glass Industry Group Co. Ltd., Guardian Industries, American Insulated Glass, Saint-Gobain, Nippon Sheet Glass Co. Ltd. etc.
There exists tremendous opportunities for manufacturers in the markets of Middle East, China and India due to increasing industrialization and construction activities. Also, the expanding data center market globally is generating new demand for energy efficient cooling solutions.
With the advent of new technologies such as direct heat rejection, free Industrial Cooling Systems Market Demand, and evaporative cooling systems; industrial cooling is becoming more efficient and sustainable. Developments in the fields of quantum loop cooling, magnetocaloric cooling are expected to revolutionize industrial cooling in the coming decade.
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