Field-Erected Cooling Towers Market has been valued at USD 1.3 billion in the year 2021 and it is estimated to reach USD 3.3 billion by the year 2027, with a CAGR of 3.5% from 2022 to 2027. Field-Erected Cooling Towers is a specialized heat exchanger in which air and water are brought into direct contact with each other in order to reduce the water's temperature. As this occurs, a small volume of water is evaporated, reducing the temperature of the water being circulated through the tower; these are the main factors that have considerably increased the demand for the Field-Erected Cooling Towers in the market, thereby driving the huge growth of the Field-Erected Cooling Towers market in the upcoming years

Market Drivers and Restraints:

The main factors that have considerably increased the demand for the Field-Erected Cooling Towers in the market are mainly due to the cooling tower being much larger in size compare to the package-type cooling towers. A normal field erected cooling tower has pultruded fiber reinforced plastic structure, and a mechanical unit for air draft and fill as major components. Field erected cooling tower can be segmented based on type like wet field erected a cooling tower, Dry field erected a cooling tower and hybrid field erected cooling tower. The growth of field-erected cooling towers is attributed ascribed to increasing energy demand, and increasing urbanization, especially in developing countries; these are the main factors that have considerably increased the demand for Field-Erected Cooling Towers in the market, thereby driving the huge growth of the Field-Erected Cooling Towers market in the upcoming years

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The report is segmented as:

Field-Erected Cooling Towers Market is segmented on the basis of:

By Type (Wet, Dry, and Hybrid),

By Design (Natural, Forced, and Induced),

By End User (Power Generation, Petrochemical and Oil & Gas, Iron and Steel and Metallurgy, Paper Mills)

Geographical Segmentation:

Field-Erected Cooling Towers Market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and the rest of the world. North America has the dominant share in the Field-Erected Cooling Towers due to the Increasing electricity demand from emerging countries these are the main factors that have considerably increased the demand for Field-Erected Cooling Towers in North America, followed by Europe, Asia Pacific, Latin America, and Middle East & Africa will register a slower increase in the Field-Erected Cooling Towers Market

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Impact of COVID-19 on the Market

Covid -19 pandemic has created huge losses in every sector across the world, and a temporary lack of growth in export and import activities, which has impacted the raise of Field-Erected Cooling Towers market growth. Due to covid-19 many companies have shut down and stopped their production and have decreased the availability of Field-Erected Cooling Towers. The government restrictions like lockdown in many countries have stopped the production of products by the manufacturing companies. In recent days relaxation in restrictions by the government and people getting vaccinated to stop the spread of coronavirus are expected to raise the Field-Erected Cooling Towers market growth.

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