The demand for cooling tower rental services, in terms of value, is estimated to be worth around $996 million this year. According to the Future Market Insights market analysis report, this market is anticipated to increase at a compound annual growth rate (CAGR) of 7.7% from 2023 to 2033. The FMI report further predicts the overall market valuation would be reaching $2.1 million by the end of this forecast period.
Renting cooling towers to industrial, manufacturing, and commercial sectors for a temporary period has emerged as a lucrative business in the last few years. There is now an increasing need for cooling systems to maintain ideal operating temperatures and avoid overheating equipment and machinery.