Global Chillers Market was valued at US$ 8.90 Bn in 2017 and is expected to reach US$ 13.20 Bn by 2026, at a CAGR of 5.05 % during a forecast period.
Chillers are cooling devices used to cool equipment, raw materials, or fluid streams in industrial applications, and food and beverages in residential and commercial applications. The most significant attributes of chillers are their features such as durability, efficiency, and low environmental impact.
The objective of the report is to present a comprehensive assessment of the global chillers market and contains considerate insights, facts, historical data, industry-validated market data and projections with appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global market size. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global chillers market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Rising demand for process cooling in industrial applications, increasing demand for chillers from developing markets of Asia-Pacific and growing use of chillers in solar cooling applications are expected to drive the global chillers market. Augmented consumption of frozen foods and Hugh demand for energy-efficient cooling solutions across end-user industries like plastic, rubber, & chemical are expected to boom global chillers market. Technical advancements offer growth opportunities to the global chillers market key players. Furthermore, high electricity cost is one of the main challenges for the global chillers market growth.
Scroll chiller segment is expected to grow at a high rate of CAGR in the global chillers market during the forecast period. Various industries like chemicals, plastic, and printing are using scroll chillers in their production units in order to droplet down the energy usage, maintenance cost & other overhead charges. By instigating scroll chillers into the production process, these industries are capable to decrease down its electricity consumption nearly by 12-15 %. Among these industries, scroll chillers are extremely considered and profiting the small residential and commercial complexes in footings of energy conservation.
Additionally, a small enterprise is looking for to decrease down the usage of refrigerants containing high ozone depletion potential. Increasing preferences towards the usage of scroll chillers is expected to increase product demand. Scroll chillers are actually easy to install, maintain and customize. It also tailor-made affording to the variation of sound, mechanical and energy configurations.
Geographically, Asia Pacific is expected to share significant growth in the global chillers market. The region is experiencing stable economic development and Hugh investments across industries like chemical & petrochemical, plastic, and food & beverage. The chillers market is developing in various countries such as China, India, and Brazil owing to growing industrial activity. Additionally, the presence of a large number of emergent manufacturers from the Asia Pacific is projected to shrink import dependence of numerous regions which is estimated to drive the chillers market during the forecast period.
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Scope of the Report Global Chillers Market
Global Chillers Market, By Type
• Screw Chiller
• Scroll Chiller
• Centrifugal Chiller
• Absorption Chiller
• Reciprocating Chiller
Global Chillers Market, By End User
• Chemicals & Petrochemicals
• Food & Beverages
• Medical & Pharmaceutical
Global Chillers Market, By Geography
• North America
• Asia Pacific
• Middle East & Africa
• South America
Key players in Global Chillers Market
• Johnson Controls Inc.
• Trane, Inc.
• Broad Air Conditioning Co., Ltd.
• Robur Group
• Daikin Industries, Ltd.
• Thermax, Ltd.
• Carrier Corporation
• Yazaki Energy Systems, Inc.
• Hitachi Appliances, Inc.
• Century Corporation
• Shuangliang Eco-Energy Systems Co., Ltd.
• MIDEA Group Co., Ltd
• Climaveneta S.P.A.
• Advantage Engineering Inc.
• Broad Air Conditioning Co. Ltd
• Dimplex Thermal Solutions.
• Thermal Care Inc.
• BV Thermal Systems
• Temptek Inc.
• Hyundai Climate Control Co., Ltd.
• Robur Group
• Kawasaki Thermal Eng. Co. Ltd.DEL2