The global concrete cooling market is predicted to touch USD 1200 million at a 5% CAGR over the forecast period (2014-2022), states the new Market Research Future (MRFR) report. Concrete cooling, simply put, is a method that helps in reducing the temperature of concrete that is poured to a certain level to guarantee its quality. It is extensively used in places with warm climates, where concrete is consumed heavily.
The components here vary resting on the needs of the customer, required concrete temperatures, and/or concrete mix design. The right cooling system will help in curing the concrete that in turn will improve the strength, in the long run, thereby making the structure strong to last for a good number of years. Safety, durability, and strength are some of the key benefits of using concrete cooling.
Various factors are propelling the concrete cooling market growth. These factors, as stated by the MRFR report, include technological innovations, increasing planning as well as the construction of new dams, and growing construction and building industry. Additional factors pushing market growth include burgeoning demand for indoor air quality, increasing awareness about the benefits of concrete cooling, and economic growth in the developing nations.
On the contrary, fewer business opportunities, and unstable economic conditions and market in colder regions such as parts of North America and Europe, and regulations laid down by the government to prevent the release of carbon dioxide and other harmful gases are factors that may impede the concrete cooling market growth over the forecast period.
Leasing players profiled in the concrete cooling market report include Focusun Refrigeration Corporation, Icelings, Kirloskar Pneumatic Company Limited, Recom Ice Systems, ConCool LLC, Coldcrete Inc., LINTEC Germany GmbH, KTI-Plersch Kältetechnik GmbH, North Star Ice Equipment Corporation, and Fujian Snowman Co., Ltd., among others. The key players have adopted several strategies for increasing their market share and also attaining growth in the market. These include expansions, new product launches, contracts, mergers and acquisitions, product innovations, research and development, and more.
The Market Research Future report provides a wide segmental analysis of the concrete cooling market based on type and application.
Based on type, the concrete cooling market is segmented into liquid nitrogen cooling, air cooling, water cooling, and ice cooling. Of these, the water cooling segment will have the largest share in the market over the forecast period. This is owing to its alluring attributes such as cost-effectiveness, availability, and simple functionality.
Based on application, the concrete cooling market is segmented into industrial, commercial, infrastructure, and others.
Based on the region, the concrete cooling market report covers growth opportunities and the latest trends across the Asia Pacific (APAC), Europe, North America, Middle East and Africa (MEA), and the Rest of the World (RoW). Of these, the Middle East and Africa will command the market over the forecast period. This is owing to the growing construction activities and high temperature in the region. Concrete cooling is required to attain the right curing of concrete in these high temperatures. Moreover, the regional countries are undertaking new infrastructure projects that are also boosting the market growth.
The concrete cooling market in the APAC region is expected to offer attractive opportunities over the forecast period. India, as well as China, are the key contributors here owing to the rapid growth of the building & construction industry and rapid infrastructural growth in these countries.
The concrete cooling market in North America is predicted to have moderate growth over the forecast period. This is owing to the region having low-temperature conditions. The commercial and residential buildings in this region do not need installation of much products for keeping the temperature of the structure low.
The concrete cooling market in Europe just as North America, is predicted to witness moderate gains over the forecast period. The UK, Italy, Germany, and France are the key contributors here, owing to the growing infrastructure development in these countries.