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on May 2, 2024
MARC Group, a leading market research company, has recently releases report titled “Evaporative Cooling Market Report by Type of Cooling (Direct Evaporative Cooling, Indirect Evaporative Cooling, Two-stage Evaporative Cooling), Distribution Channel (Big-box Retailers, HVAC Contractors and Distributors, and Others), Application (Residential, Commercial, Industrial, Confinement Farming, and Others), and Region 2024-2032“, Offers a comprehensive analysis of the industry, which comprises insights on the market.
How big is the evaporative cooling industry?
The global evaporative cooling market size reached US$ 6.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 10.4 Billion by 2032, exhibiting a growth rate (CAGR) of 5.4% during 2024-2032.
Industry Overview of Evaporative Cooling
Evaporative or adiabatic cooling is a cooling and ventilation technique that uses water as a refrigerant. It uses water evaporation to cool the surrounding air to a comfortable temperature. It is an energy-efficient, highly sustainable method deployed to provide cooling for buildings, machinery, and manufacturing facilities. In addition, it ventilates clean, filtered, fresh, and cool air and enhances the overall indoor air quality. As a result, evaporative cooling is gaining traction in residential, confinement farming, industrial, and commercial sectors across the globe.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/evaporative-cooling-market/requestsample
What are the growth prospects and trends in the evaporative cooling industry?
The market is primarily driven by the rising demand for cost-effective cooling solutions globally. In addition, the increasing temperatures on account of global warming are contributing to market growth. Evaporative cooling is eco-friendly and fuel-efficient and delivers superior air quality by reducing carbon dioxide (CO2), chlorofluorocarbon (CFC), and greenhouse gas (GHG) emissions, which is accelerating the product adoption rate across the globe.
Moreover, the growing shift toward a work-from-home (WFH) culture has escalated the demand for home air coolers and heating, ventilation, and air conditioning (HVAC) equipment, representing another major growth-inducing factor. Besides this, governments of numerous countries are providing incentives and subsidies to promote the use of fuel-efficient technologies, which is also propelling the market growth.
Furthermore, rapid urbanization, the growing population, stringent environmental regulations, and the emerging application of evaporative coolers in the residential, industrial, and commercial sectors are creating a positive market outlook across the globe.
Leading Companies Operating in the Global Evaporative Cooling Industry:
- Baltimore Aircoil Company Inc. (Amsted Industries Incorporated)
- Bonaire Heating & Cooling
- Celsius Design Limited
- CFW Evapcool
- Colt Group Limited
- Condair Group AG
- Delta Cooling Towers Inc.
- EcoCooling
- ENEXIO Water Technologies GmbH
- Munters Group
- Phoenix Manufacturing Inc.
- SPX Cooling Technologies Inc. (SPX Corporation)
Evaporative Cooling Market Report Segmentation:
The report has segmented the market into the following categories:
Type of Cooling Insights:
- Direct Evaporative Cooling
- Indirect Evaporative Cooling
- Two-stage Evaporative Cooling
Distribution Channel Insights:
- Big-box Retailers
- HVAC Contractors and Distributors
- Others
Application Insights:
- Residential
- Commercial
- Industrial
- Confinement Farming
- Others
Regional Insight:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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