Global Cooling Tower Market Size & Outlook, 2025-2033
Global cooling tower market, 2021-2033 (US$M)
Related Markets
Global cooling tower market highlights
- The global cooling tower market generated a revenue of USD 4,272.4 million in 2024 and is expected to reach USD 7,459.1 million by 2033.
- The market is expected to grow at a CAGR (2025 - 2033) of 6.6% by 2033.
- In terms of segment, open circuit accounted for a revenue of USD 1,901.5 million in 2024.
- Hybrid is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2024.
- Country-wise, India is expected to register the highest CAGR from 2025 to 2033.
Global data book summary
| Market revenue in 2024 | USD 4,272.4 million |
| Market revenue in 2033 | USD 7,459.1 million |
| Growth rate | 6.6% (CAGR from 2025 to 2033) |
| Largest segment | Open circuit |
| Fastest growing segment | Hybrid |
| Historical data covered | 2021 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2033 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Open circuit, Closed circuit, Hybrid |
Other key industry trends
- In terms of revenue, the North America accounted for 22.7% of the global cooling tower market in 2024.
- By country, the U.S. is projected to lead the global market in terms of revenue in 2033.
- By country, India is the fastest growing regional market and is projected to reach USD 379.9 million by 2033.
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Cooling Tower Market Scope
Cooling Tower Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| SPX Technologies Inc | View profile | 4100 | 6325 Ardrey Kell Road, Suite 400, Charlotte, NC, United States, 28277 | https://www.spx.com |
| Kelvion | View profile | 11-50 | Bochum, Nordrhein-Westfalen, Germany, Europe | https://www.kelvion.com/ |
| Babcock & Wilcox Enterprises Inc | View profile | 2250 | 1200 East Market Street, Suite 650, Akron, OH, United States, 44305 | https://www.babcock.com |
| Johnson Controls International PLC | View profile | 102000 | One Albert Quay, Cork, Ireland, T12 X8N6 | https://www.johnsoncontrols.com |
Global cooling tower market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to cooling tower market will help companies and investors design strategic landscapes.
Open circuit was the largest segment with a revenue share of 44.51% in 2024. Horizon Databook has segmented the Global cooling tower market based on open circuit, closed circuit, hybrid covering the revenue growth of each sub-segment from 2021 to 2033.
- Global Cooling Tower Type Outlook (Revenue, USD Million, 2021-2033)
- Hybrid
- Open circuit
- Closed circuit
- Global Cooling Tower Material Outlook (Revenue, USD Million, 2021-2033)
- FRP
- Concrete
- Steel
- Wood
- HDPE
- Global Cooling Tower Application Outlook (Revenue, USD Million, 2021-2033)
- Industrial
- HVAC
- Power Generation
- Oil & Gas
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Our clientele includes a mix of cooling tower market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of global-level data and insights on the Global cooling tower market , including forecasts for subscribers. This global databook contains high-level insights into Global cooling tower market from 2021 to 2033, including revenue numbers, major trends, and company profiles.
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Global cooling tower market size, by regions, 2021-2033 (US$M)
Top 10 countries: Cooling tower market size, 2024 (US$M)
Global cooling tower market share, by application, 2024 & 2033 (%, US$M)
Cooling tower market: Opportunity assessment by country
Global cooling tower market, by region, 2024 (US$M)
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