IMARC Group, a leading market research company, has recently releases report titled “Evaporative Cooling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global evaporative cooling market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Evaporative Cooling Market?

The global evaporative cooling market size reached US$ 6.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 8.7 Billion by 2028, exhibiting a growth rate (CAGR) of 6.1% during 2023-2028.

What is Evaporative Cooling?

Evaporative or adiabatic cooling is a cooling and ventilation technique that uses water as a refrigerant. It uses water evaporation to cool the surrounding air to a comfortable temperature. It is an energy-efficient, highly sustainable method deployed to provide cooling for buildings, machinery, and manufacturing facilities. In addition, it ventilates clean, filtered, fresh, and cool air and enhances the overall indoor air quality. As a result, evaporative cooling is gaining traction in residential, confinement farming, industrial, and commercial sectors across the globe.

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What are the growth prospects and trends in the evaporative cooling industry?

The market is primarily driven by the rising demand for cost-effective cooling solutions globally. In addition, the increasing temperatures on account of global warming are contributing to market growth. Evaporative cooling is eco-friendly and fuel-efficient and delivers superior air quality by reducing carbon dioxide (CO2), chlorofluorocarbon (CFC), and greenhouse gas (GHG) emissions, which is accelerating the product adoption rate across the globe.

Moreover, the growing shift toward a work-from-home (WFH) culture has escalated the demand for home air coolers and heating, ventilation, and air conditioning (HVAC) equipment, representing another major growth-inducing factor. Besides this, governments of numerous countries are providing incentives and subsidies to promote the use of fuel-efficient technologies, which is also propelling the market growth.

Furthermore, rapid urbanization, the growing population, stringent environmental regulations, and the emerging application of evaporative coolers in the residential, industrial, and commercial sectors are creating a positive market outlook across the globe. 

What is included in market segmentation?

The report has segmented the market into the following categories:

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:

·  Residential

·  Commercial

·  Industrial

·  Confinement Farming

·  Others

Breakup by Region:

• 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

Who are the key players operating in the industry?

The report covers the major market players including: 

• 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.

• SPX Cooling Technologies Inc. (SPX Corporation)

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