Industrial Cooling System Market Size - By Product (Air Cooling, Evaporative Cooling, Hybrid Cooling, Water Cooling), Capacity, Application (Automotive, Chemical, Food & Beverage, Utility & Power, Oil & Gas, Pharmaceutical) & Forecast, 2024 - 2032

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format

View Details Buy Now 2890 Download Sample Ask for Discount Request Customization

Industrial Cooling System Market Size - By Product (Air Cooling, Evaporative Cooling, Hybrid Cooling, Water Cooling), Capacity, Application (Automotive, Chemical, Food & Beverage, Utility & Power, Oil & Gas, Pharmaceutical) & Forecast, 2024 - 2032

Industrial Cooling System Market Size

Imagine your data center as a bustling city, filled with high-powered servers, routers, and storage systems working tirelessly day and night. Just like a bustling city generates a lot of heat, so do these electronic devices. To keep this digital metropolis running smoothly and prevent costly breakdowns, we need effective cooling systems. These systems are like the air conditioners of the data center world, ensuring that the servers stay at optimal temperatures. As the number and size of data centers continue to grow, so does the demand for these cooling systems. They're like the guardians of the digital realm, making sure that our computers and networks keep running without a hitch.

To get key market trends

  Download Free Sample

The food and drink industry is all about keeping our food safe and fresh. That's why they're really stepping up their game with these fancy industrial cooling systems. People love their fresh food, so these companies are making sure they've got the best coolers around. And the law is on their side too. Groups like the FDA and CFIA are saying, "You need to keep those temps just right. We're not messing around with food safety." So, these companies are making sure their food stays cool and safe every step of the way, from the factory to your fridge.

Industrial Cooling System Market Report Attributes
Report Attribute Details
Base Year 2023
Industrial Cooling System Market Size in 2023 USD 19.21 Billion
Forecast Period 2024 to 2032
Forecast Period 2024 to 2032 CAGR 6%
2032 Value Projection 33.42 Billion
Historical Data for 2021 - 2023
No. of Pages 210
Tables, Charts & Figures 200
Segments covered Product, Capacity, Application
Growth Drivers
  • Growing Data Center Industry
  • Focus on Food Safety & Cold Chain Logistics
  • Increasing Demand for Cooling Systems in the Automotive Sector
  • Supportive Government Policies
  • Increasing Pharmaceutical Sectors Demand for Industrial Cooling
Pitfalls & Challenges
  • High initial investment costs
  • High Water Consumption

What are the growth opportunities in this market?

 Download Free Sample

Setting up industrial cooling systems can be quite costly upfront. You'll need to buy equipment like chillers, cooling towers, pumps, and more. Then, there's the cost of putting it all together, from adapting existing infrastructure to installing pipes, electrical connections, and automation systems. And don't forget, the more complex and large-scale the system is, the more it'll set you back. All these expenses make it tough for many businesses to invest in such major projects, which slows down the growth of the industrial cooling system market.

Water scarcity is a serious concern worldwide. High water consumption in industrial cooling systems puts additional stress on the already stressed water resources. Water regulatory bodies are imposing strict restrictions on water consumption and discharge, making it challenging for industries to expand or install new cooling systems that consume significant amounts of water, in turn, restraining market growth.

Moreover, industries which rely on water-based cooling systems are going to face higher operational costs as water is becoming more limited and valuable resource, which is likely to increase its costs. These increased costs can impact the profitability of businesses and act as a deterrent to investing in industrial process cooling systems.

Industrial cooling System Market Trends

Digital transformation in industrial cooling is changing the monitoring, control, and management of industrial cooling systems. Cloud platforms and remote monitoring have enabled real-time monitoring, predictive maintenance, and centralized control. Connected sensors and data analytics provides deep dive insights into the system performance, energy consumption, and potential issues. This data-driven approach enables proactive maintenance, optimization of cooling operations, and energy management, leading to improved efficiency, reduced downtime, and cost savings.

The increasing concerns regarding reduction of greenhouse gas emissions have put high emphasis on the adoption of environmental-friendly refrigerants. Industrial cooling system manufacturers are increasingly adopting low-GWP alternatives such as Hydrofluorocarbons (HFCs). Additionally, natural refrigerants such as ammonia (NH3) and carbon dioxide (CO2) are gaining traction due to their zero or very low GWPs. These refrigerants offer improved energy efficiency and have minimal impact on the environment.

Industrial cooling System Market Analysis

Learn more about the key segments shaping this market

 Download Free Sample

Based on product, the evaporative cooling segment is expected to reach USD 14.9 billion by 2032.

  • The evaporative process cooling segment dominated the market in 2023. Factors attributed to the large market share of this segments are energy efficiency, environmental friendliness, and low-cost adoption will increase the evaporative industrial cooling process adoption, in turn, aiding market growth.
  • Continuous improvements in evaporative cooling technology have increased the overall system efficiency. Through innovative designs, manufacturers are enhancing cooling processes control, optimizing water consumption, and augmenting heat exchange. The technological advancements ultimately lead to increased reliability, better system integration and more efficient cooling arrangements.

Learn more about the key segments shaping this market

 Download Free Sample

Based on application, the food & beverage segment is anticipated to register about 9% CAGR between 2024 and 2032.

  • The food and beverages segment is expected to grow with fastest CAGR during the forecast period. The high growth of this segment is attributed to factors such as strict food safety regulations, changing consumer preferences, and the adoption of cold chain logistics. The increasing demand of fresh and organic products, ready-to-eat meals, and online grocery shopping is further propelling the need for efficient cooling solutions.
  • Blast chillers, refrigerated conveyors, and immersion coolers are increasingly deployed in the food processing industry to reduce and maintain temperature of processed food items, meat, poultry, and bakery products. These systems helps in maintaining the freshness of the food products and prevent bacterial growth. Industrial cooling is a critical in dairy processing operations such as pasteurization, homogenization, and cheese aging. Cooling systems are used to regulate temperatures during these processes, ensuring quality, safety, and consistent product characteristics.

Looking for region specific data?

 Download Free Sample

The increasing demand for power generation to cater to the growing energy-demand from the U.S. industrial sector will drive the industrial cooing system market growth in the U.S. In 2022, the power generation sector in the U.S. generated 4.24 trillion kWh of electricity.

The growth of industrial cooling system market in the U.S. is driven by factors such as strict efficiency regulations prompting organizations in the U.S. to upgrade their cooling infrastructure, expanding data center industry coupled by cloud computing and AI requires state-of-the art cooling solutions. The F&B manufacturers in the U.S. are putting high emphasis on the quality and safety coupled with high adoption of cold chain logistics is boosting the demand for industrial cooling in the market. As industries strive for increased productivity and reduced operational costs, efficient cooling systems have become a critical investment, further propelling market growth.

The industrial cooling system market growth in Europe is driven by factors such as modernization of ageing industrial infrastructure prompting upgrade of cooling systems. Increase in specialized manufacturing such as pharmaceuticals and biotechnology require precision temperature control which further boosts the need for advanced cooling solutions. The push for circular economy in Europe is also influencing the market growth with a growing emphasis on heat recovery systems that repurpose waste heat. The expansion of district cooling networks in urban areas is creating new opportunities for industrial-scale cooling solutions.

Industrial cooling System Market Share

In the world of industrial cooling systems, three powerhouses dominateEmerson Electric Co., Vertic Group Corporation, and STULZ GmbH. Together, they control a hefty slice of the market, with a combined share of over 30%. Emerson Electric Co. is a tech and engineering giant that's always on the lookout for cutting-edge solutions. When it comes to industrial cooling, they've got you covered with a whole range of compressors and condensing units. These bad boys are essential for refrigeration and air conditioning systems, making sure everything stays nice and cool. Emerson also knows that keeping an eye on your cooling system is key. That's why they've developed automated air-cooled exchanger monitoring solutions. These clever gadgets track warning signs, give you a heads-up if your cooling's getting a bit wobbly, and chat with your other control and management systems to make sure everything's running smoothly. But Emerson doesn't just rest on its laurels. They're always pushing the envelope, launching new products to meet the ever-changing needs of businesses and industries. So, if you're looking for top-notch industrial cooling solutions, you know who to turn to!

Meet Vertiv, the experts in keeping your industrial cooling systems running smoothly. We're the go-to guys for reliable and efficient cooling solutions, ensuring your critical processes keep humming along. From super-smart air conditioners to trusty chillers, we've got a wide range of cooling systems to fit every industrial need. Our fancy air conditioners control temperature precisely, while our chillers work their magic with chilled water. But wait, there's more! We've got heat exchangers and cooling towers too. They're like the secret ingredients that keep your systems running cool as a cucumber. And guess what? Our chilled water cooling solutions are the ultimate multitaskers. They can cool the air, heat it up, and even save you water all at the same time. But we don't just stop at providing the best cooling systems. We're also all about making sure our customers are happy. We listen, we solve problems, and we're always looking for ways to make your experience with us even better.

Industrial cooling System Market Companies

Major key players operating in the industrial cooling system industry are

  • Emerson Electric Co.
  • Vertiv Group Corporation
  • STULZ GmbH.
  • Rittal GmbH & Co. KG
  • Baltimore Aircoil Company Inc.
  • Black Box Corporation
  • Hamon Group

Industrial cooling System Industry News

In February 2023, Vertiv launched Vertiv XR app, the first tool in the data center space that allows data center operators to visualize Vertiv products in locations they would use in a facility. The application is promoting Vertiv’s widespread & ongoing digitalization initiative to improve the customer experience.

In May 2021, Emerson launched the Copeland family of commercial HVACR Variable Frequency Drives (VFDs). The company launched VFDs for various commercial & industrial applications, which are built with contractor ease of installation and have many features including quick-start menus. They also integrate efficiently with Emerson’s legacy E2 supervisory control and Dixell refrigeration controllers.

This industrial cooling system market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD million) from 2021 to 2032, for the following segments

Click here to Buy Section of this Report

 

 

Market, By Product

 

  • Air cooling
  • Evaporative cooling
  • Hybrid cooling
  • Water cooling
  • Other cooling

Market, By Capacity

  • Small (< 20 tons)
  • Medium (20-100 tons)
  • Large (>100 tons)

Market, By Application

  • Automotive
  • Chemicals
  • Food & Beverages
  • Utility & Power
  • Oil & Gas
  • Pharmaceuticals
  • Industrial Manufacturing
  • Data Centers
  • Other End use

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • ANZ
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA

 

Related Reports

Table of Content

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

List Tables Figures

To get a detailed Table of content/ Table of Figures/ Methodology Please contact our sales person at ( chris@marketinsightsresearch.com )

FAQ'S

For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:

sales@marketinsightsresearch.com

Within 24 to 48 hrs.

You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email

You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.

Discounts are available.

Hard Copy

Email