Concrete Cooling Market Size, Share, Growth, And Industry Analysis By Type (Water Cooling, Ice Cooling, Air Cooling, Liquid Nitrogen Cooling, Concrete Cooling) By Application (Highway Construction, Dams & Locks, Port Construction, Nuclear Plant Construction) and Regional Forecast to 2028

Updated On: 13 November 2023

Report Overview

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The global Concrete Cooling market size was US$ 995.2 million in 2022. As per research the market is expected to generate US$ 1204.4 million by 2028, growing at a CAGR of 3.2% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the Concrete Cooling market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

Concrete is created when cement and water are mixed. Concrete cooling is required because it performs and keeps its tensile strength better than hot concrete. Moreover, due to its cooling properties, water does not evaporate at a greater pace. It is widely used in the building of highways, dams, locks, ports, and nuclear power plants. Concrete chilling is a technique for bringing the temperature of freshly poured concrete down to lessen water evaporation after cement hydration and help maintain the properties and tensile strength of the concrete. A significant factor driving the expansion of the concrete cooling business is the increase in the number of buildings in countries with tropical temperatures, such as the Asia Pacific region.

Rising popularity of such concrete cooling systems, rising demand due to high temperatures, growing construction activities, and growth in the infrastructural development sector are the main drivers of the concrete cooling market, among other things. Growing demand for indoor air quality is a key factor escalating the market growth and it is also very helpful in preventing the spread of germs. Additionally, growing research and development efforts in the industry as well as increasing utilization of liquid nitrogen for chilling fresh concrete will open up new prospects for the concrete cooling market between 2021 and 2028.

COVID-19 Impact: COVID-19 Outbreak Has Caused A Global Halt To Logistical And Manufacturing Activities

However, this situation is projected to get better as governments throughout the world relax restrictions on resuming company activities. In addition, the rise in demand for construction and infrastructure projects is the main factor driving market development. Demand appears to be increasing in warmer climates, which has significantly boosted the globalsector. The Covid-19 epidemic significantly reduced worldwide building and retrofit activity, which in turn reduced demand for the concrete cooling industry. In major advanced economies in 2020, investment in new construction fell by 20% to 30%, which had an effect on market expansion. According to a research by the American Road & Transportation Builders Association, the COVID-19 epidemic has caused the cancellation or postponement of infrastructure projects worth more than US$9.6 billion. In the United States, sixteen states reported project cancellations or delays totaling around $5 billion. The study claims that an additional 20 local governments and agencies have scrapped or delayed projects totaling an additional US$ 4.54 billion.

Latest Trends

"Demand For Concrete Is More Long-Lasting And Less Prone To Thermal Cracking"

Modern concrete construction often considers large spans and heavy weights. The sizes of the necessary parts, such as the foundations, footings, and columns that must be drilled, frequently exceed industry standards. A greater focus on durability led to higher cementitious material contents, lower water-to-cementitious-material ratios, and deeper cover over reinforcing steel. More concrete installations are subjected to high internal temperatures as a result of these requirements.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into Water Cooling, Ice Cooling, Air Cooling, Liquid Nitrogen Cooling, and Concrete Cooling.  Water Cooling is anticipated to be the leading segment.

• By Application Analysis

Based on application, the market can be divided into Highway Construction, Dams & Locks, Port Construction, and Nuclear Plant Construction. Highway Construction will be the dominating segment.

Driving Factors

"Rising Demand For Cooling Systems From Other Nations With High Temperatures Is Fueling The Expansion"

The Middle East and Asia-Pacific regions' rising demand are driving the worldwide market. Additionally, rising demand for concrete cooling systems from other nations with high temperatures is fueling the expansion. The invention of cooling and insulating systems for use in mass concrete construction was prompted by the need to regulate volume change, which is predominantly caused by temperature variation in mass concrete. The growth of the worldwide market is being negatively impacted by the regions of North America and Europe having less growth chances.

Furthermore, poor concrete curing can cause cracking and inappropriate hydration, which might provide challenges for the overall expansion of the global concrete cooling market.

"Tremendous Growth In International Sector Will Influence Market Growth "

The international sector will experience tremendous growth in the years to come. This is a crucial characteristic that will provide the concrete cooling sector a number of growth prospects. The growth of industrialization will drive construction, and concrete projects will offer the market dependable opportunities.

Additionally, the development of complex and intelligent structures would present the concrete cooling industry with exciting new opportunities. Additionally, regional actors in the Middle East and Asia Pacific have increased their investment in infrastructure development. These factors will create a potential opportunity for the growth of the concrete cooling industry.

Restraining Factors

"Higher Cost And Complexity May Hamper The Market Growth"

Concrete cooling is a sophisticated yet difficult method. Concrete cooling may increase the reliability and endurance of concrete buildings. But the entire process and associated costs for cooling concrete consume a lot of time and money. As a result, certain market players are hesitant to use this approach. Large sums of money may need to be invested in order to cool a dam or other concrete infrastructure. The high price is a significant barrier that might have an impact on the market's overall demand.

Regional Insights

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"Asia Pacific Anticipated To Maintain Its Dominance During The Forecast Period"

In terms of revenue, Asia Pacific held a 40.0%+ share of the worldwide market in 2019, and it is anticipated that this dominance will last throughout the projection period. Due to increased building activity, particularly in emerging nations like China and India, the area has seen an increase in demand for concrete cooling systems. Additionally, during the projected period, expanding industrialisation and rising infrastructure investment are anticipated to fuel growth throughout this area. The Middle East and Africa market was valued at USD X million in 2019 and is anticipated to grow at a CAGR of XX% from 2020 to 2030 as a result of significant investments being made by governments in this region in infrastructure development projects for the sake of economic growth as well as rapid urbanisation trends seen in nations like Saudi Arabia. Concrete cooling is in dire demand across Asia and the Pacific. It is a region well known for its brisk infrastructural development. The construction of new highways and dams is increasing the need for concrete cooling. The Asia Pacific area offers enormous potential for commercial expansion and growth. The second-largest market in Europe is for cooling concrete. The profitability and moderate demand for concrete cooling marmots are present in this region. North America is the region with the lowest cooling need for concrete. Because of the area's temperate temperature, less cooling of the concrete is required.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Kti-Plersch Kältetechnik GmbH (Germany)
• Fujian Snowman. (China)
• Coldcrete Inc. (Canada)
• Concool, LLC (U.S.)
• Kirloskar Pneumatic Company Limited (India)
• Lintec Germany GmbH (Germany)
• Icelings (India)
• North Star Ice Equipment Corporation (U.S.)
• Recom Ice Systems (Netherlands)
• Focusun Refrigeration Corporation (China)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.