Overview and Scope
Industrial cooling systems refer to a wide range of equipment and devices designed to remove heat from industrial processes, machinery, or facilities to maintain optimal operating conditions. The cooling systems help regulate temperatures, prevent equipment overheating, ensure product quality, and support worker comfort.
Sizing and Forecast
The industrial cooling systems market size has grown strongly in recent years. It will grow from $18.63 billion in 2023 to $20.14 billion in 2024 at a compound annual growth rate (CAGR) of 8.1%. The growth in the historic period can be attributed to industrialization and manufacturing growth, energy efficiency concerns, stringent environmental regulations, process optimization.
The industrial cooling systems market size is expected to see strong growth in the next few years. It will grow to $26.58 billion in 2028 at a compound annual growth rate (CAGR) of 7.2%. The growth in the forecast period can be attributed to adoption of sustainable practices, rise in data center construction, urbanization and infrastructure development. Major trends in the forecast period include application of heat recovery systems, adoption of hybrid cooling systems, remote monitoring and maintenance, customization for specific industrial processes, development of water treatment and filtration solutions.
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Segmentation & Regional Insights
The industrial cooling systems market covered in this report is segmented –
1) By Type: Water Cooling System, Evaporative Cooling Systems, Air Cooling System, Hybrid Cooling System, Other Types
2) By Function: Transport Cooling, Stationary Cooling
3) By End-User: Power Generation, Industrial Manufacturing, Petrochemical Processing, Food Processing And Storage, Petroleum And Natural Gas Refining, Pharmaceuticals, Data Center, Other End-Users
Asia-Pacific was the largest region in the industrial cooling system market in 2023. The regions covered in the industrial cooling systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
Rise in usage of cooling systems in automotive industry is expected to propel the growth of the industrial cooling systems market in the coming forward. Cooling systems, also referred as air conditioning or refrigeration systems, are devices or systems that remove heat from an area or material, lowering its temperature. Cooling systems are essential in the automotive industry for regulating the temperature of various components and ensuring maximum engine performance. For instance, in 2021, according to, The European Automobile Manufacturers Association, Global automotive production was 79.1 million, a 1.3% increase over 2020. Furthermore, in February 2023, according to a report published by the European Automobile Manufacturers’ Association (ACEA), a Belgium-based standards group of the automobile industry in the European Union, over 68 million passenger automobiles were produced globally in 2022, up 7.9% from the previous year. Therefore, the rise in usage of cooling systems in automotive is driving the industrial cooling systems market.
Key Industry Players
Major companies operating in the industrial cooling systems market report are Schneider Electric SE, ABB Ltd., DAIKIN Industries Ltd., Johnson Controls International PLC, Carrier Corporation, Emerson Electric Co., Trane Technologies, Danfoss A/S, Xylem Inc., Alfa Laval AB, GEA Group Aktiengesellschaft, Rittal GmbH & Co. KG, Black Box Corporation, SPX Corporation, BITZER Kuhlmaschinenbau GmbH, Babcock & Wilcox Enterprises Inc., EVAPCO Inc., Baltimore Aircoil Company Inc., LU-VE S.p.A., Brentwood Industries Inc., Hamon Group S.A., ABCO HVACR Supply & Solutions, Güntner GmbH & Co. KG, ENEXIO Management GmbH, Airedale International Air Conditioning Ltd., Mayekawa MFG Co. Ltd., Thermal Care Inc., Robson Industries Inc.
The industrial cooling systems market report table of contents includes:
1. Executive Summary
2. Industrial Cooling Systems Market Characteristics
3. Industrial Cooling Systems Market Trends And Strategies
4. Industrial Cooling Systems Market – Macro Economic Scenario
5. Global Industrial Cooling Systems Market Size and Growth
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31. Industrial Cooling Systems Market Other Major And Innovative Companies
32. Global Industrial Cooling Systems Market Competitive Benchmarking
33. Global Industrial Cooling Systems Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Cooling Systems Market
35. Industrial Cooling Systems Market Future Outlook and Potential Analysis
36.Appendix
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