Zhongtai: The cooling tower industry resonates with multiple scenarios, opening up growth opportunities in the data center scene.

Zhongtai has released a research report stating that cooling towers are widely used in various sectors such as thermal power, petrochemical, metallurgy, nuclear power, and data centers to ensure stable operation of production facilities. The global cooling tower market size is steadily increasing. Emerging applications such as data centers and nuclear power are rapidly growing. In data centers, cooling systems account for about 40% of energy consumption, and by 2030, the number of edge computing nodes deployed within enterprises is expected to reach close to 10 million, with increasing heat dissipation pressure. Cooling towers are an important component of nuclear fusion cooling systems, and the market space is expected to expand rapidly. Key points from Zhongtai include: Steady growth in demand for cooling towers, gradual evolution and upgrade of technology Cooling towers are crucial heat dissipation facilities for energy and industrial systems, with stable market demand. They are widely used in thermal power, petrochemical, metallurgy, nuclear power, and data center operations to ensure the stable operation of production facilities. The global cooling tower market size is steadily increasing. It is estimated to reach $4.27 billion by 2024 and $7.46 billion by 2033, with a compound annual growth rate of 6.39%. Growth comes from the transformation of traditional markets and the expansion of emerging scenarios. The industry chain structure is well-established, with clear division of labor between the upstream, midstream, and downstream sectors. The upstream industry covers mechanical and electrical equipment, steel materials, chemical materials, and other accessories; the midstream consists of cooling tower manufacturers; and the downstream demand is prevalent in heavy industries such as petrochemicals, energy and power, steel and metallurgy, as well as civil or commercial sectors such as food processing, textile industry, and air conditioning. The main technology route is wet-based, with new solutions accelerating penetration under the trend of water conservation. Wet towers are the most efficient but consume more water; dry towers save water but lack efficiency; hybrid towers balance efficiency and water conservation, with water consumption only about 20% of traditional wet towers, and their penetration rate is expected to increase in the future. Traditional industries provide stable support, while emerging applications experience rapid growth Main scenarios: Thermal power, petrochemical, metallurgy, and nuclear power provide stable demand. In terms of thermal power, the national installed capacity is expected to reach 1.44 billion kilowatts by 2024, accounting for 44%, driving the demand for cooling towers through renovation and upgrades; in the petrochemical sector, the refining capacity is expected to reach 956 million tons per year, requiring hundreds of cooling towers in large bases, with environmental pressure driving the application of closed towers; in the metallurgy sector, the trend of replacing wet towers with closed towers is significant due to the high water consumption per ton of steel. Emerging scenarios: Data centers: With the expansion of computing power and the increasing popularity of liquid cooling, cooling towers are indispensable for end-of-line heat dissipation. Nuclear power: Cooling towers are crucial heat dissipation guarantees for efficient operation. The expansion of computing power in data centers accelerates, and liquid cooling enhances the role of cooling towers Energy consumption in data centers is increasing, and policies related to PUE promote green development, with cooling systems at the core of energy efficiency optimization. Global computing power is growing rapidly, and PUE has become a core indicator of energy efficiency in data centers, with policies driving the development of cooling systems towards efficiency and green direction. Cooling systems account for about 40% of energy consumption, and by 2030, the number of edge computing nodes deployed within enterprises is expected to approach 10 million, with continuous heat dissipation pressure. Liquid cooling is gradually becoming mainstream, with the value of cooling towers in the system increasing. Liquid cooling is more efficient and energy-saving than air cooling, with high-efficiency heat exchange on the primary and secondary sides driving the reduction of PUE in liquid-cooled data centers and energy efficiency optimization; cooling towers are the core facilities of liquid-cooled cooling systems in data centers. The market size is rapidly expanding. QYResearch estimates that the global data center cooling tower market will reach $3.47 billion by 2024, and is expected to reach $6.78 billion by 2031, with a compound annual growth rate of 10.9%. Expansion of the nuclear fusion energy market drives the space for cooling towers In 2024, the financing scale reached $7.1 billion, showing a clear acceleration trend, with the number of new companies added from 2018 to 2024 surpassing the total sum, indicating rapid industry expansion. Cooling towers are essential components of cooling systems, and the market space is expected to expand rapidly. Risk warnings: Risks of the cooling tower industry's development falling short of expectations; risks of data center projects progressing slower than expected; risks of discrepancies between calculated data and actual data; risks of underperformance of related targets; risks of outdated information used in the research report.