Chiller Market By Type (Air, Water, Evaporative), By Application (Screw Chiller, Scroll Chiller, Centrifugal Chiller, Absorption Chiller, Reciprocating Chiller), Industry Analysis, Trends, and Forecast 2019 – 2025
Global Chiller Market was valued at USD 7856.2 Million in 2018 and is projected to reach around USD 11390.4 Million by 2025, at a CAGR of 5.45% during the forecast period. The base year considered for the study is 2017 and the forecast period is 2019-2025. Highdemand of energy-efficient cooling solutions in industrial sector factor drives the market growth.
Scope of Global Chiller Market Reports –
Chillers are used to take away high temperature from a liquid via a vapor-compression or absorption refrigeration cycle. These are mainly used to maintain the temperature. A chiller uses either a vapor compression or absorption cycle to cool. Chillers are used in a multitude of applications counting injection molding, tool and die cutting, food and beverage, chemicals, lasers, machine tool, semi-conductors and in large commercial buildings etc.
Global Chiller Market report is segmented on the basis of product, application type, end-user and regional & country level. Based upon product type, global Chiller market is segmented into air, water and evaporative. By application, market is segmented as screw chiller, scroll chiller, centrifugal chiller, absorption chiller, and reciprocating chiller. By end-user, market is divided into chemicals & petrochemicals, food & beverages, plastics, rubber, medical, commercial building and others.
The regions covered in this chiller market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, the market of Chiller is sub divided into U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, Middle East Asia (UAE, Saudi Arabia, Egypt) GCC, Africa, etc.
Key Players for Global Chiller Market Reports
Some major key players for global Chiller market are Daikin Industries Ltd., Johnson Controls, Trane Inc., Carrier Corporation, Smartd Chiller Group Inc., Thermax Ltd., Hitachi Appliances Inc., Climaveneta S.P.A., Polyscience, Dimplex Thermal Solutions Trane (Ingersoll-Rand), Carrier, Lennox, Dimplex Thermal Solutions, EcoChillers, Thermal Care, SMC, Dinkin (McQuay), Lytron Chillers, Parker Hannifin, Mammoth , Toshiba.
Chiller market is in its emerging stage; therefore, the competition is increasing. Technological development and the new product development provide the growth to the market.
Global Chiller Market Dynamics –
Chiller market is increasing due to its wide range of industrial application. Chillers play an important role in many industries. It keeps machines running consistently, by maintaining the temperature. Increasing use of chillers in large commercial buildings to maintain space comfort drives the growth of the chiller market. Additionally, increasing use of frozen food and rapid growth in sales with consumer satisfaction due to high quality of products, availability of product, consumer appreciation for product standards are also anticipated to boost the demand for frozen foods which leads to the increase in demand for chillers and foster the market growth within the forecast period. For instance; frozen-food market was valued at around USD 225 billion in 2012 and it is expected to grow around USD 294 billion by 2019. Furthermore, chillers use high electricity which may restrains the market growth. In spite of that, the increasing technological development targeted to reduce the electric consumption of chiller can provide an opportunity to the market.
Asia pacific is expected to be the largest market for chiller due to increasing industrial. It has the fastest-growing economies in the world, those are China and India. In addition, the rising pharmaceutical industry owing to the increased governmental funds in the healthcare sector in this region is also expected to fuel the growth of chillers market. For instance; The Indian pharmaceuticals market is 3rd largest market in the world in term of volume and 13th largest in term of value. Furthermore, the Indian pharmaceuticals industry is expected to grow over a CAGR of 15% between 2015 and 2020. Other developing economies, such as Vietnam and Taiwan are also projected to grow rapidly.
North America is also expected to witness a significant growth chiller due to the increase in the industrial area and the increase in the parasitical industries. The Middle East and Africa is another developing region likely to deal a strong sales opening for the global chillers market in the coming years.
Key Benefits for Global Chiller Market Reports –
- Global Chiller Market report covers in-depth historical and forecast analysis.
- Global Chiller Market research report provides detail information about Market Introduction, Market Summary, Global market Revenue (Revenue USD), Market Drivers, Market Restraints, Market Opportunities, Competitive Analysis, Regional and Country Level.
- Global Chiller Market report helps to identify opportunities in marketplace.
- Global Chiller Market report covers extensive analysis of emerging trends and competitive landscape.
Chiller Market Segmentation
- Screw Chiller
- Scroll Chiller
- Centrifugal Chiller
- Absorption Chiller
- Reciprocating Chiller
- Chemicals & Petrochemicals
- Food & Beverages
- Medical & Others
- Commercial building
- North America
- Asia Pacific
- Southeast Asia
- Latin America
- The Middle East and Africa
- Rest of Middle East and Africa
- Daikin Industries Ltd.
- Johnson Controls
- Trane Inc.
- Carrier Corporation
- Smartd Chiller Group Inc.
- Thermax Ltd.
- Hitachi Appliances Inc.
- Climaveneta S.P.A.
- Dimplex Thermal Solutions Trane (Ingersoll-Rand)
- Dimplex Thermal Solutions
- Thermal Care
- Dinkin (McQuay)
- Lytron Chillers
- Parker Hannifin
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