Global procurement intelligence advisory firm, SpendEdge, has announced the release of their 'Cooling Towers Market Procurement Research Report.' The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the heavy industry. This report breaks down the data and analysis behind the procurement of cooling towers and acts as an all-inclusive guide for making smart purchasing decisions.
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Global Cooling Towers Procurement Market Intelligence Report (Graphic: Business Wire)
"Cooling towers are extensively used in non-industrial segments including the commercial real estate sector to regulate the temperature within thermal and nuclear power plants across the world to ensure optimum production of energy," says SpendEdge procurement analyst Tridib Bora. "Also, the buyers are increasingly demanding custom-made towers as their requirements differ based on their processes, project locations, regulatory norms, and budget," added Tridib.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Cooling Towers Market:
- Growing demand for hybrid cooling towers
- Rise in adoption of HDPE-based cooling towers across end-user industries
- Increasing adoption of dry cooling towers
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Growing demand for hybrid cooling towers:
It has been observed that wet cooling towers offer greater thermal performance compared with dry cooling towers. However, wet cooling towers are vulnerable to corrosion, require large quantities of water, and involve high maintenance costs limiting their popularity. Hybrid cooling towers are ideal for areas that have access to water. The heat transfer performance of a hybrid cooling tower is similar to the one provided by a wet cooling tower, leading to their popularity across various end-user industries. Moreover, hybrid cooling towers help buyers in plume abatement and offer excellent resistance to issues such as scaling and corrosion.
The rise in the adoption of HDPE-based cooling towers across end-user industries:
HDPE-based cooling towers offer better structural integrity and stronger protection against corrosion. They are priced relatively higher compared with cooling towers constructed from materials such as wood and galvanized steel. Therefore, their adoption is presently limited to developed regions such as North America and Europe where the purchasing power of buyers is high. Moreover, an HDPE-based cooling tower negates the need for regular maintenance and expensive replacement of parts when compared with conventional cooling towers.
Increasing adoption of dry cooling towers:
The increase in regulatory stringency surrounding the use of water in wet cooling towers has motivated buyers across all geographical regions to adopt dry cooling towers, which use air for cooling the cooling water. Also, as dry cooling towers offer high resistance to scaling and corrosion, they reduce operating costs for buyers. As a result, they are increasingly adopted across all major geographical regions
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SpendEdge shares your passion for driving sourcing and procurement excellence. We are a preferred procurement market intelligence partner for Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence that helps sourcing and procurement professionals make informed decisions. These innovative procurement solutions help enterprises transform structural capabilities, improve execution efficiency, and fast-track time to savings.
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