PUBLISHER: Grand View Research | PRODUCT CODE: 1789883
PUBLISHER: Grand View Research | PRODUCT CODE: 1789883
Cooling Tower Market Summary
The global cooling tower market size was estimated at USD 4,272.4 million in 2024 and is projected to reach USD 7,459.1 million by 2033, growing at a CAGR of 6.6% from 2025 to 2033. The growing demand for energy-efficient HVAC systems across commercial and industrial sectors is a major factor driving the global cooling tower market.
Increasing urbanization and rapid infrastructure development in emerging economies have led to a surge in the construction of commercial buildings, data centers, and manufacturing facilities. In addition, the expansion of power generation capacity, especially thermal and nuclear power plants, is significantly driving the growth of cooling towers installations. These plants rely heavily on cooling towers for heat dissipation and maintaining optimal turbine efficiency. Government regulations promoting water conservation and energy efficiency are further propelling innovation in hybrid and dry cooling technologies. The integration of IoT and automation in cooling towers for performance optimization and maintenance prediction also enhances their demand globally.
Global Cooling Tower Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Grand View Research has segmented the global cooling tower market report based on material,type, application and region: