According to the latest report by IMARC Group, titled “Global Evaporative Cooling Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global evaporative cooling market reached a value of US$ 5.67 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 8.41 Billion by 2027 exhibiting a CAGR of 6.50% during 2022-2027.
Evaporative cooling, otherwise known as adiabatic cooling, refers to a cooling and ventilation technique that uses water as a refrigerant. It is a highly sustainable and energy-efficient method used to provide cooling for buildings, machinery, manufacturing facilities, etc. Evaporative cooling devices work on the principle of water evaporation through which the surrounding air is cooled to a comfortable temperature. These systems use lesser energy and ventilate clean, fresh, filtered, and cool air that enhances the overall indoor air quality. As a result, evaporative cooling finds extensive utilization across various sectors, such as residential, commercial, industrial, confinement farming, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Evaporative Cooling Market Trends and Drivers:
The escalating temperatures on account of global warming and the increasing need to minimize the carbon footprint are primarily driving the evaporative cooling market. Besides this, the expanding population and urbanization levels, along with the growing awareness towards the benefits of these systems, are further augmenting the market growth.
Apart from this, the launch of favorable policies by government bodies to promote the usage of energy-efficient technologies is also catalyzing the global market. Moreover, evaporative cooling systems are being utilized for the Energy Investment Deduction (EIA), which is acting as another significant growth-inducing factor.
Furthermore, continuous advancements in cooling technologies and product innovations are expected to bolster the evaporative cooling market in the coming years.
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Global Evaporative Cooling Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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. and SPX Cooling Technologies Inc. (SPX Corporation).
The report has segmented the market on the basis of region, cooling, distribution channel and application
Breakup by Type of Cooling:
- Direct Evaporative Cooling
- Indirect Evaporative Cooling
- Two-stage Evaporative Cooling
Breakup by Distribution Channel:
- Big-box Retailers
- HVAC Contractors and Distributors
Market Breakup by Application:
- Confinement Farming
Breakup by Region:
- 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
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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