Concrete Cooling Market size is estimated to cross USD 5.4 Billion by the end of 2035 , growing at a CAGR of 8% during the forecast period, i.e., 2023-2035. In the year 2022, industry size of concrete cooling was over USD 2 Billion. The increasing requirement for indoor air quality is an essential aspect driving market expansion; it is also extremely beneficial in inhibiting germ spread. Growing awareness of such concrete cooling systems, higher demand owing to elevated temperatures, developing building operations, and a spike in the establishment of the infrastructure sector are the primary drivers propelling the market, among others. Furthermore, increased use of liquid nitrogen for chilling fresh concrete and expanding research and development initiatives in the industry would provide novel possibilities for the concrete cooling industry during the forecast time frame. Construction is a significant contributor to the US economy. Every year, the construction sector produces roughly $1.8 trillion in building projects.
Concrete cooling market is expected to expand dramatically in the coming years. This is an essential attribute that is expected to provide the concrete cooling business with numerous prospects for growth. The development of industrialization is going to stimulate construction, and construction projects are going to deliver the market with consistent opportunities.
Furthermore, the development of sophisticated and intelligent architecture would offer up new opportunities for the concrete cooling sector. Furthermore, regional players such as the Middle East and Asia Pacific have increased their infrastructure investment. These factors anticipated to create a possible opportunity for the concrete cooling sector to flourish.
Growth Drivers
Challenges
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Base Year |
2022 |
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Forecast Year |
2023-2035 |
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CAGR |
~8% |
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Base Year Market Size (2022) |
~ USD 2 Billion |
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Forecast Year Market Size (2035) |
~ USD 5.4 Billion |
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Regional Scope |
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Application (Industrial, Infrastructural)
The concrete cooling market is segmented and analyzed for demand and supply by application into Industrial, Infrastructural, and Others. Out of these, the infrastructure segment is estimated to gain the largest market share of about ~35% in the year 2035. The rising industrialization, particularly in the Middle East and APAC area, is driving the market. As a result of the necessity for concrete cooling, consumers' changing lifestyles and high spending income have encouraged the industry. The increased temperature in tropical climates reduces the water content and bonding qualities of concrete, resulting in cracks and the requirement for a concrete cooling system. Therefore, owing to these factors the industrial segment is estimated to dominate the market over the forecast period. Industrialized nations have less than 20% of the global population, yet produce more than 70% of the world's production.
Cooling Method (Air, Water, Ice, Liquid Nitrogen)
The global concrete cooling market is also segmented and analyzed for demand and supply by cooling methods into Air, Water, Ice, Liquid Nitrogen, and Others. Amongst these segments, the water segment is expected to garner a significant share of around ~35% in the year 2035. The water segment is expected to dominate the concrete cooling industry and to rise significantly owing to its low cost, the convenience of use, simple performance, and accessibility, which promotes its adoption in a variety of sectors such as buildings, ports, and roads. When contrasted to an air cooling system, water cooling immediately reduces the temperature of the water to be combined with the cement particles to near-freezing degrees. Water cooling systems have a higher heat elimination efficiency than air cooling systems, which is a key element driving the water segment.
Our in-depth analysis of the global market includes the following segments:
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By Cooling Method |
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By Application |
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By End-Use |
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APAC Market Statistics
The market in the Asia Pacific region is estimated to witness noteworthy growth over the forecast period on the back of increasing construction activities in developing nations, such as China and India. The Asia Pacific region takes up 40% of the concrete cooling market. Hot environmental conditions, in addition to the potential for various infrastructure advancements, led to their dominance in this market. Given the high temperatures in these areas, the concrete and water ratio is altered, resulting in a loss in the durability and bonding qualities of the concrete as a consequence of the necessity for a concrete cooling system. With the development of financial resources in developing countries for a more affluent lifestyle, the construction business has developed quickly, as has the concrete cooling industry. As per the data by the India Brand Equity Foundation (IBEF), the Ministry of Road Transport and Highways has allocated a budget of USD 14.85 billion for FY 2021-22, while the government also aims to construct 23 new national highways by 2025. Moreover, the rising demand for concrete cooling for the construction of dams, backed by the growth of hydro energy in this region, is also projected to boost the market growth in the region.
North American Market Forecast
The concrete cooling market in the North American region is anticipated to garner a moderate market share during the forecast period on account of high expenditure on public infrastructure, along with the presence of major industries in developed economies, including the United States, and Canada. In 2018, about USD 90 billion were spent on highway and bridge construction in the U.S., which is projected to grow to about USD 105 billion by 2022. On the other hand, as a result of the cold temperatures in this region, North American countries have low to average concrete cooling requirements. Architecture and building activities in these locations require little or no cooling system, leading to low demand for the concrete cooling market and acting as a barrier to the expansion of the concrete cooling industry.
Middle East Market Statistics
The market in the Middle East region is estimated to garner a significant share during the forecast period. The heated climatic conditions culminated in this region's dominance. Also, the region's significant infrastructure growth over the previous few years, as well as the government's supportive stance on boosting the building and construction and construction equipment industry. Furthermore, owing to the individuals' evolving lifestyles and high disposable income the concrete cooling market is projected to witness substantial growth over the upcoming decades.
Author Credits: Smruti Ranjan, Rajrani Baghel
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