PUBLISHER: The Business Research Company | PRODUCT CODE: 1769953
PUBLISHER: The Business Research Company | PRODUCT CODE: 1769953
A field-erected cooling tower is a large-scale cooling system that is assembled and built directly at the site of installation. It is primarily utilized in industrial settings such as power plants, refineries, and manufacturing facilities to dissipate excess heat by cooling substantial volumes of water. These towers are essential for removing heat from industrial processes and power generation operations by cooling and recirculating water on-site.
The primary types of field-erected cooling towers include natural draft and mechanical draft cooling towers. Natural draft cooling towers function by using the natural upward movement of warm air to draw in cooler air from the base, enabling heat removal from the water without the need for mechanical fans. In terms of construction materials, these towers are typically made from concrete, steel, or fiberglass reinforced plastic (FRP). Application-wise, they are employed in areas such as power generation, industrial process cooling, and HVAC systems. From a technological perspective, field-erected cooling towers are classified into counterflow and crossflow cooling tower designs, serving various end-use industries including power and energy, chemical and petrochemical, mining and metals, and food and beverage.
The field-erected cooling tower market research report is one of a series of new reports from The Business Research Company that provides field-erected cooling tower market statistics, including field-erected cooling tower industry global market size, regional shares, competitors with a field-erected cooling tower market share, detailed field-erected cooling tower market segments, market trends and opportunities, and any further data you may need to thrive in the field-erected cooling tower industry. This field-erected cooling tower market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The field-erected cooling tower market size has grown strongly in recent years. It will grow from $2.22 billion in 2023 to $2.35 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth during the historic period can be attributed to accelerated industrialization, an increase in power generation capacity, the expansion of water reuse initiatives, a rise in retrofitting and upgrade projects, and growing investments in renewable and hybrid power plants.
The field-erected cooling tower market size is expected to see strong growth in the next few years. It will grow to $2.92 billion in 2028 at a compound annual growth rate (CAGR) of 5.6%. The projected growth in the forecast period can be attributed to the rising demand for energy, an increasing preference for cooling towers, population growth, expanding investments in the industrial sector, and a surge in energy production from nuclear power sources. Key trends expected during this period include the adoption of advanced technologies, a shift toward environmentally friendly (green) technologies, the emergence of new innovations, the development of advanced cooling solutions, and the evolution of next-generation field-erected cooling towers.
The growing emphasis on energy efficiency is expected to drive the expansion of the field-erected cooling tower market in the coming years. Energy efficiency involves the use of technologies, systems, or processes that minimize energy consumption while maintaining required performance levels. The global push for energy-efficient solutions is fostering the development of innovations aimed at reducing energy usage, cutting operational costs, and lowering environmental impact especially in sectors like manufacturing, transportation, and power generation. Field-erected cooling towers contribute to energy efficiency by effectively dissipating heat from industrial processes, thereby reducing excess energy use and maintaining optimal system performance to prevent overheating. For example, in March 2025, the International Energy Agency (IEA), a France-based intergovernmental organization, reported that global energy demand increased by 2.2% in the previous year, with over 80% of the growth driven by emerging and developing economies. This growing demand for energy efficiency is a significant factor fueling the field-erected cooling tower market.
Leading companies in the field-erected cooling tower market are focusing on innovative solutions such as retrofit builds to enhance efficiency, prolong equipment life, and lower energy consumption. Retrofit builds involve modifying or upgrading existing cooling tower systems to boost performance and extend functionality without replacing the entire system. For example, in May 2024, Marmon Industrial Water, a US-based water technology firm, introduced Ecodyne Modular Cooling Towers. These systems are designed for easy installation, reduced maintenance, and improved energy efficiency. Offering flexible configurations suitable for both retrofit and new build projects, the modular units aim to enhance cooling performance, reduce energy and water usage, and provide cost-effective solutions for a variety of operational needs.
In April 2023, SPX Corporation, a US-based industrial manufacturing company, acquired T. A. Morrison & Co. Inc. for an undisclosed amount. This acquisition is intended to strengthen SPX's position in the field-erected cooling tower market and expand its offerings in the fast-growing infrastructure and industrial technology segments. T. A. Morrison, based in Canada, is a manufacturing company that specializes in services for field-erected cooling towers.
Major players in the field-erected cooling tower market are Johnson Controls PLC, Lennox International Inc., Lekwa Cooling Tower Services (LCTS), SPX Cooling Technologies Inc., Baltimore Aircoil Company, Babcock & Wilcox, Evapco Inc., Jiangsu Seagull Cooling Tower Co. Ltd, Dolphin Radiators & Cooling Systems LLC, Paharpur Cooling Towers Ltd, Koch Applied Solutions, Industrial Water Cooling, Blue Chip Cooling Towers, Tower Tech Inc., Thermal care Inc., Cyrco Inc., TORRAVAL Cooling S.L., JC Equipments Pvt Ltd, Yerushalmi Water Cooling Towers, Cooling Towers LLC, Watco Group PTE LTD, Artech Cooling Towers Pvt. Ltd., Matrix Cooling (M) Sdn Bhd, Ilmed Impianti, and Kool Drop Cooling Towers Pvt Ltd.
North America was the largest region in the field-erected cooling tower market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in field-erected cooling tower report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The countries covered in the field-erected cooling tower market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The field-erected cooling tower market consists of sales of fiberglass reinforced plastic, fan decks, cold water basins, and centrifugal fans. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Field-Erected Cooling Tower Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on field-erected cooling tower market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for field-erected cooling tower ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The field-erected cooling tower market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.