Global Concrete Cooling Market Poised to Touch USD 1200 Mn Mark over 2022

25/feb/2020 13:25:53 Automotive Market Research Reports Contatta l'autore

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According to Market Research Future (MRFR)’s latest assessment, the global concrete cooling system market is set to expand at a steady CAGR through the forecast period. The report underscores that the market is expected to grow from USD 900 Mn in 2015 to USD 1200 Mn by the end of the assessment period. Concrete cooling is used for mass concrete constructions such as dams for assuring its integrity and avoiding crackdowns. These cooling systems play a key role in the development of these projects and are likely to witness an upsurge in demand over the next couple of years.

Concrete cooling systems leverage the phenomenon that concrete is developed when the heat is evolved and the cement gets hardened. Thus, regions that undergo high temperature climatic conditions are likely to contribute more towards the expansion of the concrete cooling market in the upcoming years. Fast-developing economies in Asia Pacific and the Middle East & Africa are expected to contribute significantly towards the proliferation of the market. The presence of hot climate in these regions in conjunction with huge investments being made in infrastructural projects are forecasted to augment the concrete cooling market in the near future.

Industry leaders are focusing on durability, strength, and safety for capitalizing on potential signified by the market. Innovations and product developments are poised to dictate the growth pattern of the concrete cooling market across the projection period. Also, the strengthening global economy is poised to support the expansion of the construction sector. This, in turn, is prognosticated to propel the expansion of the concrete cooling market across the review period.

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The governments are emphasizing on the expansion of highways which is one of the primary drivers of market growth. Developing regions are likely to emerge as major contributors to revenue generation in the concrete cooling market. However, the stagnation witnessed in the construction sector of the developed economies is anticipated to lower down the pace of growth over the next couple of years.

Market Segmentation:

By type, the global concrete cooling market has been segmented into ice cooling, water cooling, air cooling, and liquid nitrogen cooling.

By application, the concrete cooling market has been segmented into infrastructure, commercial, industrial, and others.

Regional Analysis:

By region, the global concrete cooling market has been segmented into North America, Asia Pacific, Europe, the Middle East & Africa (MEA), and the Rest of the World (RoW). The Middle East & Africa is anticipated to dominate the growth trajectory of the market over the next few years. The massive investments in the development of infrastructure are likely to augment the concrete cooling market in the region. The thriving construction sector of the region is responsible for driving the proliferation of the market and is likely to exhibit a similar trend in the years to come. Also, the hot climate of the region is expected to unleash growth-inducive opportunities. Global leaders have shifted focus towards the region which is anticipated to further support the proliferation of the regional market over the assessment period.

Asia Pacific is also prognosticated to signify similar opportunities owing to the presence of hot climate coupled with rising infrastructural investments. Rapid developments in the construction sector of emerging country-level markets are supposed to propel the expansion of the market.

Competitive Dashboard:

The important players of the global concrete cooling market profiled in this MRFR report are Fujian Snowman Co., Ltd., KTI-Plersch Kältetechnik GmbH, North Star Ice Equipment Corporation, LINTEC Germany GmbH, ConCool LLC, Coldcrete Inc., Recom Ice Systems, Icelings, Kirloskar Pneumatic Company Limited, and Focusun Refrigeration Corporation.

 

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