Pune, India, July 07, 2021 (GLOBE NEWSWIRE) — The global cooling towers market is set to gain traction from the surging shift of consumers towards eco-friendly products. Regulatory authorities in various nations are taking unique initiatives to accelerate the development of sustainable products. For instance, the New South Wales (NSW) Public Health Regulation 2012 put forward its latest norms revolving around the transmission and prevention of the Legionella bacteria. This information is given by Fortune Business Insights™ in a report, titled, “Cooling Towers Market, 2021-2028.” As per the report, the market size was USD 3.72 billion in 2020. It is projected to grow from USD 3.82 billion in 2021 to USD 5.03 billion in 2028 at a CAGR of 4.0% in the forecast period.
COVID-19 Pandemic: Supply Chain Disruptions & Halt of Production to Hamper Growth
The nationwide lockdown, especially in China and India to prevent the transmission of coronavirus has impacted this industry. According to the International Labour Organization (ILO), the COVID-19 pandemic is a threat to approximately 25 million jobs worldwide. Besides, several companies have stopped their manufacturing processes temporarily. At the same time, conducting training programs and delivering modern locatable tower systems were difficult in some regions because of the disturbances in the supply chain ecosystem.
To get to know more about the short-term and long-term impact of COVID-19 on this…