Global Industrial Cooling Systems Market Growth 2024, Forecast To 2033
8 Mar, 2024
The industrial cooling systems market is witnessing significant growth, with an expected rise from $18.63 billion in 2023 to $20.14 billion in 2024, demonstrating a CAGR of 8.1%. This growth is fueled by industrialization, energy efficiency concerns, and stringent environmental regulations. Projected growth indicates an increase to $26.58 billion in 2028, with a CAGR of 7.2%, driven by sustainable practices, data center construction, and urbanization. Emerging trends include the adoption of heat recovery and hybrid cooling systems, along with remote monitoring and maintenance services.
Global Industrial Cooling Systems Market Key Driver
The industrial cooling systems market is poised for growth, driven by the rising usage of cooling systems in the automotive industry. Cooling systems play a critical role in regulating temperatures and optimizing engine performance in vehicles. With an increase in global automotive production, there is a corresponding rise in the demand for industrial cooling systems. Data from The European Automobile Manufacturers Association highlights a significant uptick in passenger automobile production, indicating a growing need for cooling solutions within the automotive sector, thus propelling the industrial cooling systems market forward
Get A Free Sample Of The Global Industrial Cooling Systems Market ReportGlobal Industrial Cooling Systems Market Segments
The industrial cooling systems market covered in this report is segmented –
1) Type:Water Cooling System, Evaporative Cooling Systems, Air Cooling System, Hybrid Cooling System, Other Types
2) Function:Transport Cooling, Stationary Cooling
3) End-User:Power Generation, Industrial Manufacturing, Petrochemical Processing, Food Processing And Storage, Petroleum And Natural Gas Refining, Pharmaceuticals, Data Center, Other End-Users
By Geography: The countries covered in the industrial cooling systems market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
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
Major Industrial Cooling Systems Industry Players
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.
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Industrial Cooling Systems Market Overview
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.