India Cooling Tower Market (2024-2030) | Outlook, Value, Size, Forecast, Companies, Revenue, Analysis, Industry, Share, Growth & Trends

India Cooling Tower Market Highlights

Report Name	India Cooling Tower Market
Forecast period	2024-2030
CAGR	4.7%
Growing Sector	Power Generation Industry

Topics Covered India Cooling Tower Market Report

The India Cooling Tower Market Report thoroughly covers the market by type, design, and material. The India Cooling Tower Market Outlook report provides an unbiased and detailed analysis of the ongoing India Cooling Tower Market trends, opportunities/high growth areas, and market drivers. This would help the stakeholders devise and align their market strategies according to the current and future market dynamics.

India Cooling Tower Market Synopsis

India cooling tower market is expected to grow at a steady rate during the forecast period. The growth in the industrial sector and the increasing demand for air conditioning units are major drivers of this market. The key players in this market are focusing on partnerships, collaborations, and acquisitions to strengthen their foothold in the market.

According to 6Wresearch, the India Cooling Tower Market size is estimated to expand at a CAGR of 4.7% during 2024-2030. The growth in the industrial sector is a major driver of the cooling tower market in India. Industries such as power generation, cement manufacturing, chemical processing, and oil refining require cooling towers to dissipate heat generated by various equipment. The growth in the industrial sector is expected to continue in the future and this will drive the demand for cooling towers. Another major driver is the increasing demand for air conditioning units in the commercial and residential sectors. The rising income levels and changing lifestyles have led to an increase in demand for better living conditions which have resulted in an increased demand for air conditioning. This, in turn, will lead to an increase in demand for cooling towers. These are the factors that are fueling the India Cooling Tower Market Growth.

One of the major challenges faced by the cooling tower market in India is the lack of awareness about the benefits of cooling towers. Many people are not aware of the benefits of cooling towers and this has resulted in a slower rate of adoption of these systems. The high initial cost of these systems is also a challenge that needs to be addressed.

Cooling Tower Market in India: Leading Players

The India cooling tower market is highly fragmented with various local and international players operating in this market. Some of the key players operating in this market include the likes of SPIG S.p.A, EVAPCO, Inc., Johnson Controls - Hitachi Air Conditioning India Ltd, GEA Group Aktiengesellschaft, and Paharpur Cooling Towers Ltd. These companies are focusing on partnerships, collaborations, and acquisitions to strengthen their foothold in the market.

India Cooling Tower Industry: Government Initiatives

To promote the adoption of cooling towers, the government of India has introduced various initiatives. In 2015, the Bureau of Energy Efficiency (BEE) introduced 'Perform, Achieve, and Trade' (PAT) to encourage industries to adopt energy-efficient practices and technologies. The National Solar Mission aims to increase the share of renewable energy in India's total energy consumption. This has led to an increased adoption of cooling towers that use solar energy. The government has also introduced various incentives and subsidies to encourage the adoption of cooling towers.

Future Insights of the Market

The cooling tower market in India has a bright future, with enormous growth potential. The increasing demand for sustainable solutions, the government's initiatives to promote energy-efficient systems, and the expanding industrial sector are some of the factors driving the market's growth. Although the industry faces some challenges, cooling tower manufacturers are investing heavily in research and development to create innovative products and stay ahead of the competition. To sustain this growth, the industry needs to overcome some critical challenges such as the lack of skilled labour and infrastructure facilities.

Market Segmentation by Type

According to Sumit, Senior Research Analyst, 6Wreserach, evaporative cooling towers are widely used in almost all types of industry verticals to cool down the water with the help of the evaporation process. The process involves the energy transfer from hot water to cool water, which creates steam and leaves the heat behind.

Key Attractiveness of the Report

• 10 Years of Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• India Cooling Tower Market Outlook
• Market Size of India Cooling Tower Market, 2023
• Forecast of India Cooling Tower Market, 2030
• Historical Data and Forecast of India Cooling Tower Revenues & Volume for the Period 2020 - 2030
• India Cooling Tower Market Trend Evolution
• India Cooling Tower Market Drivers and Challenges
• India Cooling Tower Price Trends
• India Cooling Tower Porter's Five Forces
• India Cooling Tower Industry Life Cycle
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Type for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Evaporative for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Dry for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Hybrid for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Design for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Natural for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Mechanical for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Material for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Concrete for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Steel for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By FRP for the Period 2020 - 2030
• Historical Data and Forecast of India Cooling Tower Market Revenues & Volume By Wood for the Period 2020 - 2030
• India Cooling Tower Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Design
• Market Opportunity Assessment By Material
• India Cooling Tower Top Companies Market Share
• India Cooling Tower Competitive Benchmarking By Technical and Operational Parameters
• India Cooling Tower Company Profiles
• India Cooling Tower Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Type

• Evaporative
• Dry
• Hybrid

By Design

• Natural
• Mechanical

By Material

• Concrete
• Steel
• FRP
• Wood