02-Jun-2021 | Facts and Factors
The recently issued report from Facts & Factors Research states that the global adiabatic coolers market in 2020 was approximately USD 500 Million. The market is anticipated to expand at a healthy CAGR of 8.3% and is anticipated to reach around USD 823 Million by 2026.
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.
An increase in demand from end-user industries such as oil & gas, machinery & equipment manufacturing, chemical industry, petrochemical, and food & beverage around the globe is driving the global adiabatic coolers market. Because of the use of renewable power generation and environmentally conscious materials, adiabatic coolers are commonly used in developing countries. As a result, adiabatic cooler demand is likely to increase in the immediate future. The increasing lack of water sources, as well as the difficulty in finding them, is pushing up demand for adiabatic cooling, which can save up to 95% of water. The adiabatic cooler market is expected to expand in response to increased demand for adiabatic coolers in traditional evaporative cooling towers that can remove sufficient heat by evaporation. As people become more aware of the importance of water conservation around the world, the adiabatic cooler market is expected to grow at a faster rate.
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. 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.
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.
The North America region led the global adiabatic coolers market in 2019, followed by Europe. The North American market's domination can be due to the region's rapid industrialization and rising automobile and transportation industries. In the forecast period, the Asia Pacific market is expected to expand at a significant pace. The rapid growth of the packaging and construction industries in countries like China, India, South Korea, and ASEAN has created a huge demand for adiabatic coolers, propelling the regional adiabatic coolers industry. Furthermore, the booming economies of China and India have increased demand for adiabatic coolers, enhancing the Asia-Pacific region's adiabatic coolers industry. Furthermore, due to increased demand for adiabatic coolers in commercial facilities in Europe, the adiabatic cooler market is expected to rise during the forecast period. In addition, the Middle East and Africa, as well as South America, are expected to boost the adiabatic cooler demand in the coming years.
Top Market 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.
Detailed findings from the full report “Adiabatic Coolers Market By Product Type (Dry Air Cooler, and Liquid Cooler), By Orientation (V- Type, and Horizontal Cooling systems), By Application (Industrial, and Commercial), By End-Use Industry (Oil & Gas, Machinery & Equipment Manufacturing, Chemical Industry, Petrochemical, Food & Beverage, and Others): Global & Regional Industry Perspective, Comprehensive Analysis, and Forecasts, 2021 – 2026” report at https://www.fnfresearch.com/adiabatic-coolers-market
This report segments the adiabatic coolers market as follows:
Global Adiabatic Coolers Market: By Product Type Segmentation Analysis
- Dry Air Cooler
- Liquid Cooler
Global Adiabatic Coolers Market: By Orientation Segmentation Analysis
- V- Type
- Horizontal Cooling Systems
Global Adiabatic Coolers Market: By Application Segmentation Analysis
Global Adiabatic Coolers Market: By End-Use Industry Segmentation Analysis
- Oil & Gas
- Machinery & Equipment Manufacturing
- Chemical Industry
- Food & Beverage
Global Adiabatic Coolers Market: Regional Segmentation Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
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