Covina CA, Feb. 08, 2021 (GLOBE NEWSWIRE) -- The global evaporative cooler installation market accounted for US$ 7.6 billion in 2020 and is estimated to be US$ 12.4 billion by 2029 and is anticipated to register a CAGR of 5.7%. The demand for consistent and energy-efficient cooling solutions across various sectors such as food & beverage, pharmaceutical, and others is projected to boost the growth of the global evaporative cooler installation market in the forecast period. Automotive companies are focusing on the implementation of evaporative cooling systems to provide high efficiency and cost-effectiveness which encourages the target market growth. The major players in the evaporative cooler installation market are focused on the product up gradation and establishing partnerships with distributors and installers to operate in emerging markets.
The report “Global Evaporative Cooler Installation Market, By Type (Direct, Indirect and Two-stage), By Application (Residential, Commercial and Industrial), By End-Use Industry (Automotive, Chemical, Food & Beverage, Metalworking, Oil & Gas, Pharmaceutical and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
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Key Highlights:
- In February 2020, STULZ expanded its geographic region in Australia and New Zealand to strengthen the company's position in energy-efficient cooling solutions and services. The expansion is considered as the company's strategic move to capture a new customer base across Oceania
Analyst View
The strong economic development, increased e-commerce activity, and installation of manufacturing units are poised to drive the demand for evaporative cooler installation market across the globe. The emerging trend of energy-efficient cooling solutions along with effective maintenance service offering is likely to propel the demand and growth of the evaporative cooler installation market during the forecast period, 2020 – 2029.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Evaporative Cooler Installation Market”, By Type (Direct, Indirect and Two-stage), By Application (Residential, Commercial and Industrial), By End-Use Industry (Automotive, Chemical, Food & Beverage, Metalworking, Oil & Gas, Pharmaceutical and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029.
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Key Market Insights from the report:
The global evaporative cooler installation market accounted for US$ 7.6 billion in 2020 and is estimated to be US$ 12.4 billion by 2029 and is anticipated to register a CAGR of 5.7%. The global Evaporative Cooler Installation market is segmented based on the type, application, end-use industry, and region.
- By type, the global evaporative cooler installation market is segmented into a direct, indirect, and two-stage. The direct segment is expected to grow with a significant growth rate over the forecast period.
- By application, the target market is segmented into residential, commercial, and industrial. The industrial segment is estimated to dominate in terms of revenue share due to the rising demand from large-scale deployment of evaporative coolers in manufacturing units, factories, warehouses, oil and gas, power generation, and many more.
- By the end-use industry, the target market is segmented into automotive, chemical, food & beverage, metalworking, oil & gas, pharmaceutical, and others. The food & beverage end-use industry segment is expected to dominate the market attributed to the growing demand for cold storage tanks and prominent cooling systems across production units.
- By region, Asia Pacific is the worldwide leader in the evaporative cooler installation market, due to the presence of prominent evaporative cooler installation vendors along with an increase in adoption of new cooling technology and system. The market is developing steadily mainly in India and China.
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Competitive Landscape:
The prominent player operating in the global evaporative cooler installation market includes Aolan (Fujian) Industry Co., Ltd., Baltimore Aircoil Company, Berg Chilling Systems Inc., Brentwood Industries, Inc., Condair Group AG, Delta Cooling Towers, Inc., Emerson Electric Co., Honeywell International Inc., Seeley InternationaL Pty Ltd., SPX Cooling Technologies, Inc., STULZ GMBH, Symphony Limited, Thermal Care, Inc. and many other players.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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Some Important Points Answered in this Market Report Are Given Below:
- Explains an overview of the product portfolio, including product development, planning, and positioning
- Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
- Detailed analysis of the market revenue over the forecasted period.
- Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
- Study on the segments that are anticipated to dominate the market.
- Study on the regional analysis that is expected to register the highest growth over the forecast period
Key Topics Covered
- Introduction
- Study Deliverables
- Study Assumptions
- Scope of the Study
- Research Methodology
- Executive Summary
- Opportunity Map Analysis
- Market at Glance
- Market Share (%) and BPS Analysis, by Region
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Investment Analysis
- Competitive Analysis