The Industrial Cooling Systems Global Market Report 2023, provides comprehensive information on the industrial cooling systems market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Industrial Cooling Systems Global Market Report 2023, the market is expected to grow from $17.18 billion in 2022 to $18.63 billion in 2023 at a compound annual growth rate (CAGR) of 8.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial cooling systems market is expected to reach $24.69 billion in 2027 at a CAGR of 7.3%.
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Product innovation is a key trend gaining popularity in the industrial cooling systems market. Major companies operating in the industrial cooling systems market are focused on developing innovative products with advanced technologies to strengthen their position in the market. For instance, in February 2022, Honeywell, a US-based performance materials and technology company, launched Solstice E-Cooling, a ground-breaking platform of liquid heat transfer agents that efficiently and effectively cool high-performance electronics in comparison to conventional techniques that use air and water. The innovative cooling technology for electronics and data centers uses a two-phase liquid cooling technology to cool electrical applications while minimizing the impact on the environment. Solstice E-Cooling provides for more uniform and energy-efficient cooling, better heat rejection, and less pumping power.
The industrial cooling systems market is segmented:
1) By Type: Water Cooling System, Evaporative Cooling Systems, Air Cooling System, Hybrid Cooling System, Other Types
2) By Function: Transport Cooling, Stationary Cooling
3) By End-User: Power Generation, Industrial Manufacturing, Petrochemical Processing, Food Processing And Storage, Petroleum And Natural Gas Refining, Pharmaceuticals, Data Center, Other End-Users
Asia-Pacific was the largest region in the industrial cooling systems market in 2022.
The table of contents in TBRC’s industrial cooling systems market report includes:
- Executive Summary
- Industrial Cooling Systems Market Characteristics
- Industrial Cooling Systems Market Trends And Strategies
- Industrial Cooling Systems Market – Macro Economic Scenario
- Global Industrial Cooling Systems Market Size and Growth
.
- Global Industrial Cooling Systems Market Competitive Benchmarking
- Global Industrial Cooling Systems Market Competitive Dashboard
- Key Mergers And Acquisitions In The Industrial Cooling Systems Market
- Industrial Cooling Systems Market Future Outlook and Potential Analysis
- Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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