The global market for industrial cooling technologies is expected to grow at a compound annual growth rate (CAGR) of 7% between 2014 and 2019.
Wellesley, Mass. (PRWEB) February 27, 2015
BCC Research (http://www.bccresearch.com) reveals in its new report on industrial cooling technologies, the global markets exhibited moderate growth overall during 2012 to 2014, increasing from $7 billion in 2012 to nearly $7.9 billion in 2014. Through 2019, markets will continue to gain inertia as many additional global economies return to stronger growth in the ongoing wake of the global economic turndown. Global sales in 2019 will surpass $11 billion, equivalent to a compound annual growth rate (CAGR) of 7% from 2014 through 2019.
Buildup of excess heat within an industrial process is deleterious and can result in reduced process efficiency or even damage to product or equipment. Thus, in order to operate properly, excess heat must be removed from an industrial process and put to other use or disposed of/released into the environment. Industrial cooling technologies serve this need by enabling the capture of thermal energy through a heat exchanger, transport of excess thermal energy via a coolant (often, but not always water), and dissipation, release and rejection of excess thermal energy into the environment.
Global and regional markets for industrial cooling systems are under a variety of pressures, generating a complex global market that reflects regional innovations in demand for new and replacement industrial infrastructure, variations in water supply availability, changes in climate and an increasingly stringent regulatory environment in certain countries. The result is a mosaic of varying market values that reflect the proportional influence of conflicting drivers.
Industrial cooling is one of the most ubiquitous and critical industrial processes applicable to the moderate and heavy industry. “Adding another layer of complexity, because industrial cooling systems eject waste heat into the environment, several key environmental parameters also inform the technical applicability and cost viability of industrial cooling systems,” says BCC Research analyst Robert Eckard. “Environmental parameters vary based on climate, which combines with other market factors to create a patchwork of intersecting market drivers and encumbrances around the globe.”
Industrial Cooling: Technologies and Global Markets provides a global overview of the global markets for four major categories of industrial cooling systems, with breakdowns by region and by major technology. The report identifies regional and national markets and technology categories that will show the strongest growth through 2019. It helps to provide the background and market information needed for industrial cooling system manufacturers and other industry players.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven(dot)cumming(at)bccresearch(dot)com.
About BCC Research
BCC Research publishes market research reports that make organizations worldwide more profitable with intelligence that drives smart business decisions. These reports cover today's major industrial and technology sectors, including emerging markets. For more than 40 years we've helped customers identify new market opportunities with accurate and reliable data and insight, including market sizing, forecasting, industry overviews, and identification of significant trends and key market participants. We partner with analysts who are experts in specific areas of industry and technology, providing unbiased measurements and assessments of global markets. Recently selected as the world’s greatest market research company, BCC Research is a unit of Eli Global, LLC. Visit our website at http://www.bccresearch.com. Contact us: (+1) 781-489-7301 (U.S. Eastern Time), or email information(at)bccresearch(dot)com.