Cooling towers are widely installed for a number of industrial applications ranging from power generation utilities and air conditioning to manufacturing. Open and closed circuit cooling towers have been witnessing a rise in demand owing to rapid industrialization and mounting demand for electricity, especially in developing countries. A positive global economic outlook is also anticipated to prove to be favorable for the cooling towers market.
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A report by Transparency Market Research indicates that the global cooling towers market will expand at a modest 4.70% CAGR from 2014 to 2020. The value of this market stood at US$2.3 bn in 2013 and is estimated to rise to US$3.1 bn by 2020.
Link between Cooling Towers and Legionnaire’s Disease Hampering Growth
Legionellosis is an acute and potentially fatal respiratory infection caused by a bacteria of the Legionella genus. The bacteria are pervasive, usually live in soil and water, and multiply in large numbers in warmer water and in the presence of foulants, micro-organisms, and other nutrients. Legionella outbreaks have mostly been linked with cooling towers, hot tubs, potable water used for showering and drinking, and decorative fountains. Research has shown that cooling towers are a major concern owing to the fact that they contain large pools of warm water open to the atmosphere. Moreover, these towers operate by diffusing evaporated water and heat in the form of a fine mist. If not properly cleaned, maintained, and disinfected, cooling towers can be the perfect breeding ground for Legionella bacteria.
Owing to the potential dangers associated with cooling towers, consumer skepticism has resulted in a negative impact on the overall cooling towers market.
Combating Growth of Legionella Serving as Opportunity for Players within Cooling Towers Market
The chance of a legionella infection outbreak can be considerably reduced by effective water treatment practices in the installation, maintenance, and operation of cooling towers. Based on the recommendation of the US Occupational Safety and Health Administration (OSHA), several players within the cooling towers market have been collaborating with various organizations for cooling tower treatment programs to maximize their scope and share in the global market.
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Earlier this month, the New York City Department of Health devised a comprehensive plan to minimize the outbreak of Legionnaires disease by implementing tough cooling tower regulations in the country. The rigorous enforcement of these requirements, in addition to the inclusion of advanced inspection and maintenance programs is likely to address citizens’ concerns regarding the hazards of cooling towers, thereby supporting the growth of the cooling towers market.
Some of the leading players in the cooling towers market are SPX Corporation, Baltimore Aircoil Company, Paharpur Cooling Towers Ltd., EVAPCO-BLCT Dry Cooling, Inc., GEA Heat Exchangers Group, Liang Chi Industry Company, SPIG S.p.A. Hamon Group, and FANS, a.s.