A hybrid cooling tower is a combination of wet and dry cooling with a favourable impact on the environment, meeting demanding environmental requirements.
The hybrid cooling tower works on the principle of wet cooling, but it is also supplemented with the dry cooling module. The purpose of this module is to reduce the cooling water temperature, using the surrounding air before the water enters the wet section. Hot air from dry cooling is mixed with saturated air from the wet section, thus eliminating the steam plume.
Market segmentation
Technavio has segmented the market for hybrid cooling towers based on: end-user (power generation, HVAC, oil and gas, chemical and petrochemical, and others), type (direct contact and closed circuit), and geography (APAC, Europe, North America, Middle East and Africa, and South America).
Key factors driving the growth
The increase in the construction of data centers is a key factor driving market growth. Data centers are becoming invaluable assets for organizations of all sizes and industries, as these facilities provide a wide range of services, including data storage and cloud computing.
The power generation segment is estimated to witness significant growth during the forecast period. The need to build more power stations to meet the demand will be supported by increasing electricity and energy production around the world. Furthermore, the governments of different countries have opted to install nuclear power plants because they tend to produce electricity at a lower lifetime cost than oil, gas, coal, and renewables.
Market trend
The availability of rental hybrid cooling towers is a major trend in the market. In the case of power generation, process cooling, and air conditioning cycles, Hybrid Cooling Towers shall be used by end users including electricity producers and oil and gas companies. In addition, the economic benefits offered by rented cooling towers compared with purchased cooling towers will also contribute to the growth.
Significant challenge
Growing demand for re-engineered or refurbished hybrid cooling towers is a significant challenge restricting market growth. The purchase of a new hybrid cooling unit can be costly and may have an impact on the budgets of industrial undertakings, including food and beverages. Furthermore, several small and midsized enterprises preferred to restore or repair the aging hybrid refrigeration tower over replacing it when its functionality ceased.
Some of the global key players
Babcock and Wilcox Enterprises Inc., Baltimore Aircoil Co., Composite Cooling Solutions LP, Cooling Tower Depot Inc., Delta Cooling Towers Inc., ENEXIO Management GmbH, EUROCONFORT GROUP LLC, EVAPCO Inc., FANS AS, Hamon S.A., Harrison Cooling Towers Pvt. Ltd., Johnson Controls International Plc, Konuk Isi, Kuken Kogyo Co. Ltd., MITA Cooling Technologies Srl, North Street Cooling Towers Pvt. Ltd., Paharpur Cooling Towers Ltd., Seagull Cooling Tower Co. Ltd, SPX Corp., and Thermal Care Inc.
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