North America Evaporative Cooling Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The North America Evaporative Cooling Market is segmented by Type of Cooling (Direct, Indirect, Two-stage) and Application (Residential, Commercial, Industrial, Confinement Farming).

Market Snapshot

CAGR
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: North America
Largest Market: North America
CAGR: 3.71 %

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Market Overview

The North America Evaporative Cooling Market was valued at USD 1.56 billion in 2020 and is expected to reach USD 1.94 billion by 2026, at a CAGR of 3.71% over the forecast period 2020 - 2025. The North American region has been witnessing an increasing number of initiatives for sustainable energy management. Therefore, traditional air conditioning is not a feasible option. This factor is driving the popularity of evaporative cooling, which is fast becoming the most efficient option, for cooling large areas or open spaces. Evaporative cooling enables firms to gain cooling benefits without adverse effects on the environment. It has become imperative for firms to adopt sustainable practices for their production and HVAC operations, to mitigate risks of environmental pollution.

  • Various government standards have been implemented in the region, specifically, in the United States, for the efficient use of energy across commercial and industrial sectors, with evaporative cooling technique. Therefore, the Natural Resources Canada is considering increasing the minimum energy performance standards (MEPS) for evaporative-cooled products, to align with the MEPS in the United States, for those classes of products. As evaporative cooling makes use of a natural process, namely the reduction of air temperature by evaporating water on it, they are the preferred alternative over the traditional cooling technologies.
  • Evaporative coolers offer several benefits to end users, including energy savings, cost effectiveness, low maintenance, and operational requirements, besides being multifunctional (can be used in an open environment, for cooling, air purification, and ventilation). Thus, owing to favorable regulations for sustainable energy across the region, advancements in technologies and their benefits compared to traditional cooling techniques, are significantly driving the market studied.
  • The other major driver for the US segment is the adoption of evaporative coolers in data centers. The demand for data centers is growing at a brisk pace in the country, with the rapid adoption of Big Data, digital content, and e-commerce. Keeping these facilities constantly functional is mandatory for multinational companies operating in this space. In addition to reliability, the industry is now seeking energy-efficient solutions that have the potential to lower the operational costs and reduce carbon emissions from data center operations. In 2015, the data centers in the United States consumed more than 110 million Kwh of electricity, equivalent to the output of 500 MW coal-fired power plants.

Scope of the Report

Evaporative cooling is preferred as an alternative over the traditional cooling technologies, as it makes use of a natural process, namely the reduction of air temperature by evaporating water on it. Although it is an age-old process, it has emerged as a viable alternative to conventional air conditioning systems in areas where extremely low temperatures are not required.

 

By Cooling
Direct
Indirect
Two-stage
By Application
Industrial
Commercial
Confinement Farming
Other Applications

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Key Market Trends

The Commercial Section is Expected to Register a Significant Growth

  • Commercial establishments are required to maintain optimal climatic conditions in order to protect the health and well-being of employees and clients. Commercial entities, such as movie theaters, hospitals, hotels, airports, and malls, among others, generally employ both evaporative coolers and air conditioners depending upon the cooling and ventilation requirements of an enclosure.
  • Moreover, evaporative air coolers are widely used in the aforementioned commercial establishment's facilities, as alternatives to air conditioners. Apart from this, the market is expected to be driven by the growing adoption in small to medium enterprises instead of air conditioners, as the cost of air conditioning setup can be significantly high.
  • Due to the recent surge in demand for data center operations, it has become imperative for HVAC companies to offer cost and energy-efficient solutions for data centers. Data center solution providers are on the lookout for reliable solutions that are able to cut down the overall emissions.
  • A normal data center usually requires around 0.5 to 50MW of cooling capacity, and due to recent changes in ASHRAE guidelines, the permissible operating temperature has been raised to 27°C. This has been a major driver for the demand of evaporative air coolers in data centers. Additionally, these products do not make use of any refrigerants or CFC’s, which could further reduce the overall carbon footprint for the end-user applications.
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Direct Cooling is Expected to Hold Major Share

  • Direct evaporative air cooling is the simplest, oldest, and the most widely used type of evaporative cooling. The fan in the system pulls hot air through a dampened sponge-like pad and distributes the resulting cool air to the interior space either directly, or through ducts. Warm dry air is converted to cool moist air as the heat in the air evaporates the water. It is considered that these evaporative coolants are expected to hold a small niche market, majorly in the southern part of the United States, where relative humidity during July noon is higher than 40%.
  • The direct evaporative cooling systems are suitable for applications that have large heat-load removal needs and those that are open to using outside air to accomplish this. The major areas of their applications include residential sectors, commercial kitchens, and warehouses where comfort requirements are more relaxed. Hence, the system requirement depends majorly on the end users, and on the specified operational performance requirements. Residential evaporative coolers are majorly of the direct type, however, some indirect systems are also used.
  • Moreover, small commercial buildings are responsible for an increasing share of the US energy consumption and account for 90% of the total number of commercial buildings in the United Stares. US citizens nearly use 30% of the world's energy, and in the country, small commercial buildings account for approximately 10% of the country’s energy consumption.
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Competitive Landscape

The North American evaporative cooling market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. 

The companies operating in the market are also acquiring start-ups working on Evaporative Cooling technologies to strengthen their product capabilities. In February 2018, SPX Cooling Technologies Inc. announced the new Marley MD Everest counter flow cooling tower. The Marley MD Everest cooling tower is designed to meet HVAC demands and is suitable for a wide range of applications.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Drivers and Restraints

    3. 4.3 Market Drivers

    4. 4.4 Market Restraints

    5. 4.5 Value Chain / Supply Chain Analysis

    6. 4.6 Industry Attractiveness Porters Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Cooling

      1. 5.1.1 Direct

      2. 5.1.2 Indirect

      3. 5.1.3 Two-stage

    2. 5.2 By Application

      1. 5.2.1 Industrial

      2. 5.2.2 Commercial

      3. 5.2.3 Confinement Farming

      4. 5.2.4 Other Applications

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Condair Group AG

      2. 6.1.2 Baltimore Aircoil Company Inc. (BAC

      3. 6.1.3 Munters Group AB

      4. 6.1.4 Colt Group

      5. 6.1.5 Phoenix Manufacturing Inc.

      6. 6.1.6 Delta Cooling Towers Inc.

      7. 6.1.7 SPX Cooling Technologies

      8. 6.1.8 Bonaire Group (Celi Group)

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability

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Frequently Asked Questions

The NA Evaporative Cooling Market market is studied from 2018 - 2026.

The NA Evaporative Cooling Market is growing at a CAGR of 3.71% over the next 5 years.

North America is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

Condair Group AG, Baltimore Aircoil Company Inc. (BAC, Munters Group AB, Colt Group, Phoenix Manufacturing Inc. are the major companies operating in NA Evaporative Cooling Market.

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