[196+ Pages Report] Over the projected period, the global adiabatic coolers market is expected to develop at a quick pace. The worldwide adiabatic coolers market generated around USD 500 Million in sales in 2020 and is expected to reach USD 823.0 Million by 2026, increasing at a CAGR of 8.3%.
Global Adiabatic Coolers Market: Overview
Adiabatic cooling is based on thermodynamic theory, in which energy (heat) is moved from one medium to another as "work" without a mass exchange. As the strain inside a device is reduced, the volume expands, resulting in “work” on the external area. Wetted pads pre-cool the ambient air entering the tower with the Adiabatic cooler. Pre-cooling aids in achieving a temperature that is lower than the ambient dry bulb temperature. This pre-cooled air is then used to chill machine water or some other refrigerant. An adiabatic cooler is a liquid cooler that uses a closed-loop coil to lower the temperature of the inlet air. Adiabatic coolers are mostly used to reduce the heat density in industrial establishments and data storage centers. As a result, the market for adiabatic coolers is expected to rise around the world. In addition, the adiabatic cooler industry is projected to expand as the number of storage companies and data generation centers grow.
Global Adiabatic Coolers Market: Growth Factors
The global adiabatic coolers market is fueled by a surge in the demand by the end-user industries like oil & gas, machinery & equipment manufacturing, chemical industry, petrochemical, and food & beverage around the worldwide regions. Adiabatic coolers are widely used in developed countries due to the application of sustainable power generation and environmentally friendly products. As a result, the demand for adiabatic coolers is expected to grow in the near future. The growing scarcity of water supplies, as well as the difficulties in locating them, is driving up demand for adiabatic cooling, which can save up to 95% of water. The adiabatic cooler market is projected to grow in response to the rising demand for adiabatic coolers in conventional evaporative cooling towers that can drain adequate heat by evaporation. The adiabatic cooler market is projected to rise faster as people become more mindful of the importance of conserving water around the world.
Global Adiabatic Coolers Market: COVID-19 Impact
The global economy and business condition in major sectors around the world have improved since the outbreak of Coronavirus disease (COVID-19) in 2020. The pandemic scenario has also hampered manufacturing operations, trading policies, supply-chain instability, and other global lockout cases. Construction, clothing, textiles, and lamination, which are all primary end-use industries for adiabatic coolers, were also impacted by the situation. Due to weak demand from end-use industries, the high-growth adiabatic coolers market is projected to slow down in 2020. On the other hand, the economy is improving, and enterprises have resumed activities with reduced capabilities and in compliance with government guidelines. The end-use industries are expected to be fully operational by the beginning of 2021, resulting in high demand for adiabatic coolers. As a result, demand for adiabatic coolers is expected to grow rapidly over the next few years. Several applicants from the construction, clothing, textiles, and lamination industries have proposed using adiabatic coolers materials to increase the efficiency of their goods. Doing something more recognizable and appealing to a buyer will help boost sales significantly. This is also used to demonstrate the store's wide range of merchandise or product combinations. During COVID-19 lockdowns, the adiabatic coolers industry experienced a supply and demand shortage. If COVID-19 pathogens spread across the workforce, plant capacity can be affected unless appropriate preventative measures are taken. As a result of the lockout, the production of adiabatic coolers slowed. The lockdown also hindered the supply chain and logistics, preventing the supply of finished goods and the procurement of raw materials. Since the majority of its production workforce works in on-site roles that cannot be handled remotely, the adiabatic coolers industry may be particularly vulnerable. Furthermore, considering the market's complexities, businesses can need to explore how to provide social distancing in crowded workplaces. Trade controls, market fluctuations, supply chain uncertainty, volatile demand, and labor shortages are all projected to have an effect on the chemical industry as a whole.
Global Adiabatic Coolers Market: Segmentation
The global adiabatic coolers market is bifurcated into its product type, orientation, application, and regions. Based on the product type, the market is bifurcated into dry air cooler and liquid cooler. Based on the Orientation, the global market is divided into v- type, and horizontal cooling systems. Based on the application, the global market is divided into industrial, and commercial. Based on the end-use industry, the global market is divided into oil & gas, machinery & equipment manufacturing, chemical industry, petrochemical, food & beverage, and others. Geographically, the global adiabatic coolers market is divided into North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
Global Adiabatic Coolers Market: Regional Analysis
North America region dominated the global adiabatic coolers market in 2019 followed by the Europen region. The dominance of the North American market can be attributed to the rapid industrialization and the growing automotive and transportation industry in the region. The Asia Pacific market is also anticipated to a significant growth rate in the forecast period. The rapidly the packaging and construction industries in countries such as China, India, South Korea, and ASEAN have generated a huge demand for adiabatic coolers, propelling the adiabatic coolers market in the region. Furthermore, China's and India's booming industries have increased demand for adiabatic coolers, boosting the adiabatic coolers industry coolers in the Asia-Pacific region. Furthermore, the adiabatic cooler market is projected to grow during the forecast period due to increased demand for adiabatic coolers in commercial facilities in Europe. Furthermore, increasing adiabatic cooler adoption for water consumption control in the Middle East and Africa, as well as South America, is projected to drive the adiabatic cooler market in the coming years.
Global Adiabatic Coolers Market: Competitive Players
Some of the key players in the adiabatic coolers market are Almeco, Alfa Laval, EVAPCO, Inc., FRIGEL FIRENZE S.p.A., Baltimore Aircoil Company, Inc., Paharpur Cooling Towers Ltd., ICS Cool Energy Limited, The Güntner Group, SPX Cooling Technologies, Thermax Global, The MITA Group, Vistech Cooling Systems Limited, Transtherm Cooling Industries Ltd, Smartcooling technology, Transcalor, and Weatherite Group, among others.
Global Adiabatic Coolers Market: By Product Type Segmentation Analysis
Global Adiabatic Coolers Market: By Orientation Segmentation Analysis
Global Adiabatic Coolers Market: By Application Segmentation Analysis
Global Adiabatic Coolers Market: By End-Use Industry Segmentation Analysis
Global Adiabatic Coolers Market: Regional Segmentation Analysis
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