Overview and Scope
The chillers are used for controlled cooling. Chillers are defined as refrigeration system that is used to lower the temperatures of process fluids, machinery, and others by removing heat from them and transferring it to other spaces. Chillers are mainly essential for regulating and maintaining the temperatures in various industries.
Sizing and Forecast
The chillers market size has grown steadily in recent years. It will grow from <b>$9.04 billion in 2023 to $9.43 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. </b> The growth in the historic period can be attributed to growth in industrial and commercial construction, expansion of hvacr systems in residential and commercial buildings, adoption of process cooling in industrial applications, increased in demand for air conditioning and refrigeration, focus on energy efficiency and sustainable cooling solutions.
The chillers market size is expected to see strong growth in the next few years. It will grow to <b>$11.68 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. </b> The growth in the forecast period can be attributed to urbanization and growth of megacities driving demand for cooling solutions, expansion of data centers and it infrastructure, adoption of chillers in food and beverage processing, demand for district cooling systems in urban developments, market growth in developing economies and emerging markets. Major trends in the forecast period include transition to low-gwp refrigerants, integration with smart building systems, modular and scalable chiller systems, heat recovery chillers for cogeneration, use of advanced controls and predictive analytics.
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Segmentation & Regional Insights
The chillers market covered in this report is segmented –
1) By Product Type: Air Cooled Chiller, Water Cooled Chiller
2) By Power Range: Less than 50 kW, 50-200 kW, More than 200 kW
3) By Compressor Type: Screw Chillers, Centrifugal Chillers, Absorption Chillers, Reciprocating Chillers
4) By End User: Commercial, Industrial, Residential
<b>Asia-Pacific</b> was the largest region in the Chillers market in 2023. The regions covered in the chillers market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
The rise in new commercial construction buildings is expected to propel the growth of the chillers market. The commercial buildings use chillers to remove heat from the air and help in achieving a proper temperature control. Smart commercial buildings are incorporating smart technologies, such as occupancy sensors, smart thermostats, and HVAC and lighting controls help reduce energy usage in unoccupied offices, conference rooms, and other spaces. For instance, according to The American Council for an Energy Efficient Economy (ACEEE), technologies used in smart building can reduce 18% energy consumption for HVAC systems, 28% for plugged equipment and 33% for lighting. Therefore, the rise in new commercial construction buildings is expected to create opportunities for various players involved in the chillers market.
Key Industry Players
Major companies operating in the chillers market include <b> Carrier Corporation, Daikin Industries Ltd., Trane Technologies plc, Hitachi Air Conditioning Company Ltd., Johnson Controls International plc, Thermax Limited, Smardt Chiller Group Inc., Mitsubishi Electric Corporation, Midea Group Co. Ltd., LG Electronics Inc., Reynold India Pvt. Ltd., Dimplex Thermal Solutions, Dunham-Bush Ltd., Frigel Firenze SpA, Friulair S.R.L., HYDAC International GmbH, Thermal Care Inc., SKM Air Conditioning, Meccanotecnica Applicata S.r.l., KKT Chillers, Glen Dimplex Thermal Solutions, Delta T Systems Inc., Chase Cooling Systems, TopChiller, CAREL UK Ltd., Thermo Fisher Scientific Inc., Thermionics Corporation, Welkin Solutions, Frost Italy S.r.l., Cold Shot Chillers, York International Corporation, McQuay International, Multistack LLC, Airedale International Air Conditioning Ltd., Blue Star Limited, Gesellschaft für Entstaubungsanlagen Group AG, Danfoss A/S, Climaveneta S.p.A., Lennox International Inc. </b>
The chillers market report table of contents includes:
1. Executive Summary
2.Chillers Market Characteristics
3.Chillers Market Trends And Strategies
4.Chillers Market analysis
5.Chillers Market Size And Growth
6.Chillers Segmentation
7.Chillers Regional And Country Analysis
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27.Chillers Competitive Landscape And Company Profiles
28.Chillers Key Mergers And Acquisitions
29.Chillers Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Carrier Corporation
- Daikin Industries Ltd.
- Trane Technologies plc
- Hitachi Air Conditioning Company Ltd.
- Johnson Controls International plc
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A chiller is a machine that removes heat from a liquid via a vapor-compression or absorption refrigeration cycle.
This liquid can then be circulated through a heat exchanger to cool equipment, or another process stream (such as air or process water).
As a necessary by product, refrigeration creates waste heat that must be exhausted to ambience, or for greater efficiency, recovered for heating purposes.According to this study, over the next five years the Chillers market will register a 3.6% CAGR in terms of revenue, the global market size will reach US$ 8486.4 million by 2024, from US$ 7118.1 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Chillers business, shared in Chapter 3.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-chillers-2019-2024-809This report presents a comprehensive overview, market shares, and growth opportunities of Chillers market by product type, application, key manufacturers and key regions and countries.This study considers the Chillers value and volume generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.Centrifugal ChillersScroll ChillerScrew ChillerOthersSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.CommercialIndustrialThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.The key manufacturers covered in this report: Breakdown data in in Chapter 3.Trane (Ingersoll-Rand)Johnson Controls — HitachiCarrierMitsubshiLG ElectronicsDaikinDunAnDunham-BushTICABoschEbaraLennoxSmardtChillerGroupKingairParker HannifinDimplex Thermal SolutionsTsing Hua TongfangAiredale Air ConditioningIn addition, this report discusses the key drivers influencing market growth, opportunities, the challenges and the risks faced by key manufacturers and the market as a whole.
It also analyzes key emerging trends and their impact on present and future development.Research objectivesTo study and analyze the global Chillers consumption (value & volume) by key regions/countries, product type and application, history data from 2014 to 2018, and forecast to 2024.To understand the structure of Chillers market by identifying its various subsegments.Focuses on the key global Chillers manufacturers, to define, describe and analyze the sales volume, value, market share, market competition landscape, SWOT analysis and development plans in next few years.To analyze the Chillers with respect to individual growth trends, future prospects, and their contribution to the total market.To share detailed information about the key factors influencing the growth of the market (growth potential, opportunities, drivers, industry-specific challenges and risks).Get the Complete Report & TOC @ https://www.grandresearchstore.com/manufacturing-and-construction/global-chillers-2019-2024-809Table of content2019–2024 Global Chillers Consumption Market Report1 Scope of the Report1.1 Market Introduction1.2 Research Objectives1.3 Years Considered1.4 Market Research Methodology1.5 Economic Indicators1.6 Currency Considered2 Executive Summary2.1 World Market Overview2.1.1 Global Chillers Consumption 2014–20242.1.2 Chillers Consumption CAGR by Region2.2 Chillers Segment by Type2.2.1 Centrifugal Chillers2.2.2 Scroll Chiller2.2.3 Screw Chiller2.2.4 Others2.3 Chillers Consumption by Type2.3.1 Global Chillers Consumption Market Share by Type (2014–2019)2.3.2 Global Chillers Revenue and Market Share by Type (2014–2019)2.3.3 Global Chillers Sale Price by Type (2014–2019)2.4 Chillers Segment by Application2.4.1 Commercial2.4.2 Industrial2.5 Chillers Consumption by Application2.5.1 Global Chillers Consumption Market Share by Application (2014–2019)2.5.2 Global Chillers Value and Market Share by Application (2014–2019)2.5.3 Global Chillers Sale Price by Application (2014–2019)CONTACT US:276 5th Avenue, New York , NY 10001,United StatesInternational: (+1) 646 781 7170 / +91 8087042414Email: [email protected] Us On linkedin :- https://www.linkedin.com/company/grand-research-store/
