Global Chillers Market was valued at US$ 8.90 Bn in 2019 and is expected to reach US$ 13.20 Bn by 2026, at a CAGR of 5.05% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.
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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 report study has analyzed the revenue impact of the COVID-19 pandemic on the sales revenue of market leaders, market followers, and disrupters in the report, and the same is reflected in our analysis.
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 an appropriate set of traditions and methodology. The report also helps in understanding dynamics, structure by analyzing the market segments by material, type, end-user, and region and, projects 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, & chemicals is expected to boom the 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.
The 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 to decrease down the usage of refrigerants containing high ozone depletion potential. Increasing preferences towards the usage of scroll chillers are expected to increase product demand. Scroll chillers are actually easy to install, maintain and customize. It is 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 chiller’s 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.
Scope of the Report Global Chillers Market: Inquire before buying
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
• Middle East & Africa
• South America
Key Players in the 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.
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