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The global field-erected cooling tower market was estimated to be USD 1.78 Billion in 2017 and is expected to grow at a CAGR of 3.78%, during the forecast period. The market is set to grow due to the increasing demand from developing markets of Asia Pacific and the growing industrial activities, globally. The wet field-erected tower segment is expected to hold the largest share of the field-erected cooling tower market, by type, during the forecast period. The field-erected cooling tower market has been segmented, by type, into wet, dry, and hybrid. The wet field-erected cooling tower segment held the major market share, whereas the dry type segment is projected to witness the highest growth rate during the forecast period. This growth is due to water consumption efficiencies associated with dry type field-erected cooling towers. More industries are accepting this kind of design to align with environmental regulations within their respective countries.

The global field-erected cooling tower market is expected to grow at a CAGR of 3.78%, from 2017 to 2022, to reach a market size of USD 2.15 billion by 2022. Stringent environmental regulations are expected to drive the demand for field-erected cooling towers, globally. The field-erected cooling tower market is dominated by a few major players that are established brand names with a wide regional presence. The leading players in the field-erected cooling tower industry include SPX (US), Hamon (Belgium), Enexio (Germany), Evapco (US), and BAC (US).

The global field-erected cooling tower market is projected to grow from an estimated USD 1.72 Billion in 2016 to USD 2.15 Billion by 2022 at a CAGR of 3.78% from 2017 to 2022. Field-Erected Cooling Tower Market by Type (Wet, Dry, and Hybrid), Design (Natural, Forced, and Induced), End-User (Power Generation, Petrochemical and Oil & Gas, Iron & Steel and Metallurgy, Paper Mills), and Region

The report "Field-Erected Cooling Tower Market by Type (Wet, Dry, and Hybrid), Design (Natural, Forced, and Induced), End-User (Power Generation, Petrochemical and Oil & Gas, Iron & Steel and Metallurgy, Paper Mills), and Region - Global Forecasts to 2022", published by MarketsandMarkets™, the global market was estimated to be USD 1.78 Billion in 2017 and is expected to grow at a CAGR of 3.78%, during the forecast period. The market is set to grow due to the increasing demand from developing markets of Asia Pacific and the growing industrial activities, globally.

The global concentrating solar power market size is estimated to be USD 6.0 Billion in 2022 and is projected to reach USD 19.9 Billion by 2027; it is projected to grow at a CAGR of 26.9% during the forecast period. The key drivers for the concentrating solar power market include environmental concerns over carbon emissions and efforts to reduce air pollution, and integration of CSP in hybrid power plants. The solar power towers segment, by technology is expected to be the fastest growing segment during the forecast period. This technology uses a ground-based field of mirrors to concentrate sun rays onto a central receiver system placed on the top of a tower erected in the middle of a field. The field has a large number of mirrors, called heliostats, that are controlled by a computer. These mirrors help reflect sunlight onto the central receiver where a fluid is being heated. Solar towers have the potential to achieve higher temperatures than linear concentrator systems, which include parabolic troughs and linear Fresnel systems. This feature is driving the market for solar power towers.