Evaporative Cooling Market Growth, Industry Outlook and Opportunities 2022-2029 | DataM Intelligence

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The global evaporative cooling market is expected to grow at a high CAGR during the forecast period (2022-2029).

Market overview

Evaporative cooling is favored as an alternative to conventional cooling technologies because it uses a plant-based system, specifically the reduction of air temperature by evaporating water in it. Although this is an old procedure, it has emerged as a possible opportunity to standardize air conditioning structures in areas where extremely low temperatures are not required. The favorable guidelines for sustainable energy around the world, as well as improvements in technologies and their advantages, over conventional cooling strategies, are significantly influencing the market studied.

The other main market driver is the adoption of evaporative coolers in storage centers. The demand for data facilities is growing at an excessive rate in the United States with the rapid adoption of big data, digital content and e-commerce. Additionally, the industry is now looking for green energy solutions that have the ability to reduce operating costs and reduce carbon emissions from document center operations.

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Market dynamics

Demand for a cost-effective cooling solution

The growing call for cost-effective cooling solutions is one of the major factors driving the global evaporative cooling market. Evaporative cooler prices are up to 50% less than an equivalent refrigerated air conditioner and up to 75% less to run. Evaporative cooling is environmentally friendly and strength efficient. It offers the best advanced air by reducing CO2, CFCs and other greenhouse gas emissions. Evaporative coolers are extremely eco-friendly and affordable cooling gadgets that overall will work for a lot less money than an air conditioner. Moreover, evaporative coolers have less value for every operation and maintenance than air conditioner. Evaporative coolers also use much less electricity when running compared to regular air conditioning gadgets. Evaporative cooling is best suited for medium to large open spaces with proper ventilation and air movement. It can be used in small rooms and workplaces, but adequate airflow must be provided, either by starting doors and windows, or by becoming amateurs of mechanical distribution. Due to these factors, the global evaporative cooling market is expected to grow at a steady pace in the future.

However, the dependence on external climatic elements is one of the important parameters considered by many customers who are considering adopting evaporative cooling strategies. In hot, humid weather, an evaporative cooler cannot provide similar thermal consolation. Because it will increase the humidity in the air, it could increase the pain. It is also desirable to install this electrical device next to exhaust ducts or open windows, or outdoors to maximize its performance.

Market segmentation

By type

direct cooling

l Indirect cooling

l Two-stage cooling

By request

l Commercial

l Industrial

l Farming in confinement

l Residential

theOther

By distribution channel

l Big box retailers

l HVAC contractors and distributors

theOther

By region

North America

South America

Europe

Asia-Pacific

the Middle East and Africa

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Competitive landscape

The global cooling tower market is highly fragmented owing to the presence of regional and international players offering a range of products. Delta Cooling Towers Inc., Condair Group AG, Baltimore Aircoil Company Inc., Munters Group AB and Colt Group Limited are some of the major market players. Evaporative cooling systems are seeing high adoption due to benefits such as cost-effective installation and maintenance and suitability in dry and arid climates, for regions such as North Africa, the Middle East and Western Australia. Manufacturers invest in R&D and engineering for product innovations, to expand their product offerings and attract a large customer base. For example, in 2019, Munters invested 3.8% (4.3%) of its net sales in research and development. Carel invested 6% of its revenue in research and development in 2019. SPX Cooling Technologies invested approximately US$150 million in three acquisitions during 2019. In April 2019, Baltimore Aircoil Company launched the HXV Hybrid Cooler, which offers the best of evaporative and dry cooling systems in water and energy efficient solutions. The chiller is said to be ideal for maintaining peak performance for a variety of applications where water is scarce, water costs are high, availability is critical, or plume is a concern.

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