Cooling Tower Fan Motors Market: Introduction
A cooling tower is a heat exchanger system that removes waste heat from a process. The cooling tower fan motor is a component of the induced draft cooling tower, used to drive the cooling fan. Cooling tower fan motors are designed to operate under harsh environments such as in the presence of moisture and at elevated temperatures. There are generally two types of cooling fan motors, namely induction motors and permanent magnet motors. Permanent magnet motors are increasingly being preferred over induction motors as they do not require a gearbox and thus, reduce mechanical losses and provide higher performance. Cooling tower fan motors are attached with several protection systems such as earthly fault relays and over load relays to improve the operational safety. Cooling tower fan motors used for commercial/ institutional applications are of a lower capacity as compared to the cooling tower fan motors used for industrial applications. Among industrial applications, power plants require cooling tower fan motors of heavy capacities, generally in the range of 250 – 350 HP. Cooling tower fan motors are generally designed according to NEMA standards.
Cooling Tower Fan Motors Market: Dynamics
The outlook for the cooling tower fan motors market is expected to be positive over the forecast period. Rapid industrial growth across developed as well as developing countries is expected to be among the key driving factors for the growth of the cooling tower fan motors market. Further, rising energy demand due to rapid industrialization, urbanization and population growth is expected to drive the power plant industry, which in turn is set to drive the demand for cooling tower fan motors over the forecast period.
Several manufacturers have been working towards innovation and development to improve reliability, system efficiency and reduce noise & vibrations. Further, market participants are emphasizing on expanding their product offerings with enhanced specifications to increase their presence in the cooling tower fan motors market.
Cooling Tower Fan Motors Market: Segmentation
On the basis of capacity, the global cooling tower fan motors market can be segmented as:
On the basis of motor type, the global cooling tower fan motors market can be segmented as:
On the basis of End-Use, the global cooling tower fan motors market can be segmented as:
Cooling Tower Fan Motors Market: Regional Outlook
The cooling tower fan motors market in China & India is expected witness significant growth over the forecast period. The growth of the cooling tower fan motors market in the region can primarily be attributed to rapid industrialization and economic growth. Favorable government policies and initiatives for the growth of the manufacturing sector in India are expected to drive the demand for cooling tower fan motors in the region. The South East Asia and Pacific market, with countries such Taiwan, Japan and ASEAN, is set to offer significant growth opportunities for the cooling tower fan motors market over the forecast period. North America and Europe cooling tower fan motors markets are expected to witness moderate growth in the near future. Being mature markets, these regions are expected to be characterized by innovation and development. On the other hand, developing markets such as Latin America and Middle East and Africa are expected to create new horizons for the growth of the cooling tower fan motors market.
Cooling Tower Fan Motors Market: Market Participants
Examples of some of the market participants operating in the global cooling tower fan motors market are:
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