North America Cooling Tower Market Size & Outlook
North America cooling tower market, 2018-2030 (US$M)
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North America cooling tower market highlights
- The North America cooling tower market generated a revenue of USD 870.5 million in 2023.
- The market is expected to grow at a CAGR of 4.9% from 2024 to 2030.
- In terms of segment, open circuit was the largest revenue generating type in 2023.
- Hybrid is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, U.S. is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 870.5 million |
| Market revenue in 2030 | USD 1,213.7 million |
| Growth rate | 4.9% (CAGR from 2023 to 2030) |
| Largest segment | Open circuit |
| Fastest growing segment | Hybrid |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Open circuit, Closed circuit, Hybrid |
Other key industry trends
- In terms of revenue, North America region accounted for 22.6% of the global cooling tower market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 1,785.8 million by 2030.
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Cooling Tower Market Scope
Cooling Tower Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
North America 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 44.04% in 2023. Horizon Databook has segmented the North America cooling tower market based on open circuit, closed circuit, hybrid covering the revenue growth of each sub-segment from 2018 to 2030.
North America, led by the U.S. and Canada, accounted for a significant share of the global cooling towers market in 2023 owing to the presence of intelligent buildings, large-scale data centers, and building automation vendors in the region.
Furthermore, the rapid growth of structured and unstructured data along with the increasing demand for cloud computing is anticipated to propel the growth of the global data center market over the forecast period, subsequently driving the demand for cooling towers. Cooling towers help maintain the optimum temperature in data centers with low energy consumption.
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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 continent-level data and insights on the North America cooling tower market , including forecasts for subscribers. This continent databook contains high-level insights into North America cooling tower market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America cooling tower market size, by country, 2018-2030 (US$M)
North America Cooling Tower Market Outlook Share, 2023 & 2030 (US$M)
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