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Evaporative Cooling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global evaporative cooling market reached a value of US$ 5.67 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 8.41 Billion by 2027 exhibiting a CAGR of 6.50% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Evaporative cooling, also known as adiabatic cooling, refers to a cooling and ventilation technique that employs water as a refrigerant. It is an energy-efficient and highly sustainable method used to provide cooling for machinery, buildings and manufacturing facilities. Evaporative cooling systems work on the principle of water evaporation through which the surrounding air is cooled down to a comfortable temperature. Compared to conventional air-cooling technologies, these systems utilize lesser energy and ventilate fresh, clean, filtered and cool air, thus enhancing the overall indoor air quality. As a result, evaporative cooling is rapidly gaining traction over traditional air conditioning systems in areas that do not require extremely low temperatures.

 

 
 

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Evaporative Cooling Market Trends:

The rising temperatures due to global warming and the increasing need to minimize carbon footprint represent the primary factors driving the market growth. Additionally, with the expanding population and rapid urbanization, there has been a significant increase in the demand for energy-efficient, sustainable and cost-effective solutions. This, in confluence with the growing awareness regarding the benefits of evaporative cooling systems, is catalyzing the product demand. Furthermore, governments of various nations are offering lucrative incentives and subsidies to promote the use of energy-efficient technologies. For instance, since evaporative cooling is a proven sustainable cooling technique, these systems are eligible for the Energy Investment Deduction (EIA) in the Netherlands that can lead to a net benefit of 11% on the entire investment. Besides this, the increasing energy consumption in the residential, commercial and industrial sectors is propelling the demand for sustainable and low power-consuming systems. Other factors, including the emerging industrial applications of evaporative coolers, advancements in cooling technologies, product innovations, and stringent environmental regulations, are also creating a positive market outlook.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global evaporative cooling market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on type of cooling, distribution channel and application.

Breakup by Type of Cooling:

  • Direct Evaporative Cooling
  • Indirect Evaporative Cooling
  • Two-stage Evaporative Cooling
     

Breakup by Distribution Channel:

  • Big-box Retailers
  • HVAC Contractors and Distributors
  • Others
     

Breakup by Application:

 

 
 

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  • Residential
  • Commercial
  • Industrial
  • Confinement Farming
  • Others
     

Breakup by Region:

 

 
 

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  • North America
    • United States
    • Canada
  • Asia-Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Others
  • Europe
    • Germany
    • France
    • United Kingdom
    • Italy
    • Spain
    • Russia
    • Others
  • Latin America
    • Brazil
    • Mexico
    • Others
  • Middle East and Africa
     

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Baltimore Aircoil Company Inc. (Amsted Industries Incorporated), Bonaire Heating & Cooling, Celsius Design Limited, CFW Evapcool, Colt Group Limited, Condair Group AG, Delta Cooling Towers Inc., EcoCooling, ENEXIO Water Technologies GmbH, Munters Group, Phoenix Manufacturing Inc. and SPX Cooling Technologies Inc. (SPX Corporation).

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type of Cooling, Distribution Channel, Application, Region
Region Covered  Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered Baltimore Aircoil Company Inc. (Amsted Industries Incorporated), Bonaire Heating & Cooling, Celsius Design Limited, CFW Evapcool, Colt Group Limited, Condair Group AG, Delta Cooling Towers Inc., EcoCooling, ENEXIO Water Technologies GmbH, Munters Group, Phoenix Manufacturing Inc. and SPX Cooling Technologies Inc. (SPX Corporation).
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2299
Five User License: US$ 3399
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

1    Preface
2    Scope and Methodology

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Global Evaporative Cooling Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type of Cooling
    6.1    Direct Evaporative Cooling
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Indirect Evaporative Cooling
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Two-stage Evaporative Cooling
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Distribution Channel
    7.1    Big-box Retailers
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    HVAC Contractors and Distributors
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Others
        7.3.1 Market Trends
        7.3.2 Market Forecast
8    Market Breakup by Application
    8.1    Residential
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Commercial
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Industrial
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Confinement Farming
        8.4.1 Market Trends
        8.4.2 Market Forecast
    8.5    Others
        8.5.1 Market Trends
        8.5.2 Market Forecast
9    Market Breakup by Region
    9.1    North America
        9.1.1 United States
           9.1.1.1 Market Trends
           9.1.1.2 Market Forecast
        9.1.2 Canada
           9.1.2.1 Market Trends
           9.1.2.2 Market Forecast
    9.2    Asia-Pacific
        9.2.1 China
           9.2.1.1 Market Trends
           9.2.1.2 Market Forecast
        9.2.2 Japan
           9.2.2.1 Market Trends
           9.2.2.2 Market Forecast
        9.2.3 India
           9.2.3.1 Market Trends
           9.2.3.2 Market Forecast
        9.2.4 South Korea
           9.2.4.1 Market Trends
           9.2.4.2 Market Forecast
        9.2.5 Australia
           9.2.5.1 Market Trends
           9.2.5.2 Market Forecast
        9.2.6 Indonesia
           9.2.6.1 Market Trends
           9.2.6.2 Market Forecast
        9.2.7 Others
           9.2.7.1 Market Trends
           9.2.7.2 Market Forecast
    9.3    Europe
        9.3.1 Germany
           9.3.1.1 Market Trends
           9.3.1.2 Market Forecast
        9.3.2 France
           9.3.2.1 Market Trends
           9.3.2.2 Market Forecast
        9.3.3 United Kingdom
           9.3.3.1 Market Trends
           9.3.3.2 Market Forecast
        9.3.4 Italy
           9.3.4.1 Market Trends
           9.3.4.2 Market Forecast
        9.3.5 Spain
           9.3.5.1 Market Trends
           9.3.5.2 Market Forecast
        9.3.6 Russia
           9.3.6.1 Market Trends
           9.3.6.2 Market Forecast
        9.3.7 Others
           9.3.7.1 Market Trends
           9.3.7.2 Market Forecast
    9.4    Latin America
        9.4.1 Brazil
           9.4.1.1 Market Trends
           9.4.1.2 Market Forecast
        9.4.2 Mexico
           9.4.2.1 Market Trends
           9.4.2.2 Market Forecast
        9.4.3 Others
           9.4.3.1 Market Trends
           9.4.3.2 Market Forecast
    9.5    Middle East and Africa
        9.5.1 Market Trends
        9.5.2 Market Breakup by Country
        9.5.3 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
12    Porters Five Forces Analysis

    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    Baltimore Aircoil Company Inc. (Amsted Industries Incorporated)
           14.3.1.1 Company Overview
           14.3.1.2 Product Portfolio
        14.3.2    Bonaire Heating & Cooling
           14.3.2.1 Company Overview
           14.3.2.2 Product Portfolio
        14.3.3    Celsius Design Limited
           14.3.3.1 Company Overview
           14.3.3.2 Product Portfolio
        14.3.4    CFW Evapcool
           14.3.4.1 Company Overview
           14.3.4.2 Product Portfolio
        14.3.5    Colt Group Limited
           14.3.5.1 Company Overview
           14.3.5.2 Product Portfolio
           14.3.5.3 SWOT Analysis
        14.3.6    Condair Group AG
           14.3.6.1 Company Overview
           14.3.6.2 Product Portfolio
        14.3.7    Delta Cooling Towers Inc.
           14.3.7.1 Company Overview
           14.3.7.2 Product Portfolio
        14.3.8    EcoCooling
           14.3.8.1 Company Overview
           14.3.8.2 Product Portfolio
        14.3.9    ENEXIO Water Technologies GmbH
           14.3.9.1 Company Overview
           14.3.9.2 Product Portfolio
        14.3.10    Munters Group
           14.3.10.1 Company Overview
           14.3.10.2 Product Portfolio
           14.3.10.3 Financials
           14.3.10.4 SWOT Analysis
        14.3.11    Phoenix Manufacturing Inc.
           14.3.11.1 Company Overview
           14.3.11.2 Product Portfolio
        14.3.12    SPX Cooling Technologies Inc. (SPX Corporation)
           14.3.12.1 Company Overview
           14.3.12.2 Product Portfolio

List of Figures

Figure 1: Global: Evaporative Cooling Market: Major Drivers and Challenges
Figure 2: Global: Evaporative Cooling Market: Sales Value (in Billion US$), 2016-2021
Figure 3: Global: Evaporative Cooling Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: Global: Evaporative Cooling Market: Breakup by Type of Cooling (in %), 2021
Figure 5: Global: Evaporative Cooling Market: Breakup by Distribution Channel (in %), 2021
Figure 6: Global: Evaporative Cooling Market: Breakup by Application (in %), 2021
Figure 7: Global: Evaporative Cooling Market: Breakup by Region (in %), 2021
Figure 8: Global: Evaporative Cooling (Direct Evaporative Cooling) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Evaporative Cooling (Direct Evaporative Cooling) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Evaporative Cooling (Indirect Evaporative Cooling) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Evaporative Cooling (Indirect Evaporative Cooling) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Evaporative Cooling (Two-stage Evaporative Cooling) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Evaporative Cooling (Two-stage Evaporative Cooling) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Evaporative Cooling (Big-box Retailers) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Evaporative Cooling (Big-box Retailers) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Evaporative Cooling (HVAC Contractors and Distributors) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Evaporative Cooling (HVAC Contractors and Distributors) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Evaporative Cooling (Other Distribution Channels) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Evaporative Cooling (Other Distribution Channels) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Evaporative Cooling (Residential) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Evaporative Cooling (Residential) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: Global: Evaporative Cooling (Commercial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: Global: Evaporative Cooling (Commercial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: Global: Evaporative Cooling (Industrial) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: Global: Evaporative Cooling (Industrial) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Global: Evaporative Cooling (Confinement Farming) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Global: Evaporative Cooling (Confinement Farming) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Global: Evaporative Cooling (Other Applications) Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Global: Evaporative Cooling (Other Applications) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: North America: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: North America: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: United States: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: United States: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Canada: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Canada: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Asia-Pacific: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Asia-Pacific: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: China: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: China: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Japan: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Japan: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: India: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: India: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: South Korea: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: South Korea: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Australia: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Australia: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Indonesia: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Indonesia: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Others: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Others: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: Europe: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: Europe: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Germany: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Germany: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: France: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: France: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: United Kingdom: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: United Kingdom: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Italy: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Italy: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Spain: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Spain: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Russia: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Russia: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Others: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Others: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Latin America: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Latin America: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Brazil: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Brazil: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Mexico: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Mexico: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 74: Others: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 75: Others: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 76: Middle East and Africa: Evaporative Cooling Market: Sales Value (in Million US$), 2016 & 2021
Figure 77: Middle East and Africa: Evaporative Cooling Market: Breakup by Country (in %), 2021
Figure 78: Middle East and Africa: Evaporative Cooling Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 79: Global: Evaporative Cooling Industry: SWOT Analysis
Figure 80: Global: Evaporative Cooling Industry: Value Chain Analysis
Figure 81: Global: Evaporative Cooling Industry: Porter's Five Forces Analysis

List of Tables

Table 1: Global: Evaporative Cooling Market: Key Industry Highlights, 2021 and 2027
Table 2: Global: Evaporative Cooling Market Forecast: Breakup by Type of Cooling (in Million US$), 2022-2027
Table 3: Global: Evaporative Cooling Market Forecast: Breakup by Distribution Channel (in Million US$), 2022-2027
Table 4: Global: Evaporative Cooling Market Forecast: Breakup by Application (in Million US$), 2022-2027
Table 5: Global: Evaporative Cooling Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 6: Global: Evaporative Cooling Market: Competitive Structure
Table 7: Global: Evaporative Cooling Market: Key Players

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Key Questions Answered in This Report

The global evaporative cooling market was valued at US$ 5.67 Billion in 2021.

We expect the global evaporative cooling market to exhibit a CAGR of 6.50% during 2022-2027.

The growing consumer awareness towards various benefits of evaporative cooling system over
traditional counterparts, based on its high energy-efficiency, sustainability, and cost-effectiveness, is
primarily driving the global evaporative cooling market.

The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several nations resulting in temporary closure of numerous
manufacturing units and demand fluctuations for evaporative cooling systems.

Based on the type of cooling, the global evaporative cooling market can be bifurcated into direct
evaporative cooling, indirect evaporative cooling, and two-stage evaporative cooling. Among these,
indirect evaporative cooling accounts for the majority of the total market share.

On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle
East and Africa, and Latin America, where Asia Pacific currently dominates the global market.

Some of the major players in the global evaporative cooling market include Baltimore Aircoil
Company Inc. (Amsted Industries Incorporated), Bonaire Heating & Cooling, Celsius Design Limited,
CFW Evapcool, Colt Group Limited, Condair Group AG, Delta Cooling Towers Inc., EcoCooling,
ENEXIO Water Technologies GmbH, Munters Group, Phoenix Manufacturing Inc., and SPX Cooling
Technologies Inc. (SPX Corporation).

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