Valley Cottage, NY -- (SBWIRE) -- 06/25/2019 -- Water is the foremost chemical compound used in almost all the industrial sectors, be it manufacturing, power generation or petrochemical sector. Water is utilized in these industries for the purpose of processing, fabricating, cooling, diluting, product transportation, cleaning and as a heat exchange medium. The utilization of water for various industrial processes makes it unclean and increases its temperature, which has to be cooled down to optimal working temperature so that it can be recycled and reutilized for various purposes. Industrial water cooling system comes into picture as far as water cooling in industries is concerned. Some of the methods adopted by such industries include but not limited to industrial scale chillers, large scale cooling towers and heat exchangers. The increase in the rate of industrialization across the globe coupled with utilization of water for numerous industrial processes have led to an improved demand for industrial water cooling system in the current scenario and is likely to improve at a healthy rate in the upcoming years.

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Industrial Water Cooling System Market: Dynamics

According to estimates published by the World Business Council for Sustainable Development (WBCSD), about 22% of the available water is used for industrial purposes with developed countries utilizing over 55% of water, while the lesser developed countries using around 7% only. In terms of water volume, it is estimated that 1,170 cubic kilometres of water will be used up for industrial purposes by the year 2025. This enormous exploitation of water in the industries is likely to shape the market of industrial water cooling system in the future positively. Initiatives imposed to reduce water wastage and changing environmental regulations around the globe have put an onus on the manufacturing companies to revamp their infrastructure to house newer systems and processes with efficient machineries and also to reuse the spent water for other processes driving the growth of industrial water cooling system market in an upward trend.

Though the market of industrial water cooling system is expected to improve in the forthcoming years, it will be facing a number of challenges in order to sustain at a healthy pace, which includes the availability of large quantity of freshwater. Installation of industries within the proximity of ground or surface water resources is also another challenge, as exploitation of such water bodies for industrial purposes is looked down upon by the general public leading to restricted usage of water for cooling purposes.

Industrial Water Cooling SystemMarket: Segmentation

Industrial Water Cooling SystemMarket can be segmented as follows;

By Product type, the Industrial Water Cooling System can be segmented as:

Dry Cooling
Natural Draft Cooling Towers
Mechanical Draft Cooling Towers
Wet Cooling
Condensers
Hybrid Cooling
Water Chillers
Heat Exchangers
By Applications, the Industrial Water Cooling System market can be segmented as:

Petrochemicals
Pharmaceuticals
Power Generation Plants
Metal Working
Food and Beverage
Automotive
Others (HVACR etc.)
Industrial Water Cooling SystemMarket: Regional Outlook

The market of industrial water cooling system in the Asia Pacific region is expected to grow at a rapid rate due to high level of industrialization taking place in China, India and Japan. The markets in North America and Western Europe regions are expected grow at sluggish pace as compared to Asia Pacific region, owing to low demand for such cooling systems and maturity attained in terms of industrialization. Growing petrochemical industry in the Latin America and Middle East regions is expected to contribute higher revenue returns, thereby improving the market in the said regions.

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Industrial Water Cooling System Market: Market Participants

Examples of some of the market participants identified in the Global Industrial Water Cooling System market include:

IWC (Pty) Ltd.
Cold Shot Chillers
Thermal Care, Inc.
Parker Hannifin Corporation
ThermoTek Inc.
G.I. Industrial Holding S.p.A.
Accudyne Industries
Heuch Pty. Ltd.
Rittal GmbH & Co. KG.
Freeze Co Systems, Ltd.
Hamon & Cie (International)
SPX Corporation
ENEXIO Management GmbH
Johnson Controls PLC
Berg Chilling Systems Inc