Chillers Market Analysis, Size, Growth, Share, Trend, Outlook & Forecast to 2027
The global chillers market size is expected to reach USD 13.99 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.3% over the forecast period. Rising demand for efficient HVAC and refrigeration systems in newly constructed structures to maintain the increasing internal temperature is expected to drive the market over the forecast period. Chillers are used in various industries, including plastics, food & beverage, printing, medical, electronics, petrochemical, pharmaceutical, and power plants to provide cooling. Increasing adoption of chillers in manufacturing facilities, residential structures, hospitals, restaurants, and sporting arenas, among others is expected to positively impact the product demand. The demand for HVAC systems for cooling and dehumidifying the buildings is witnessing significant growth over the past few years on account of the rising atmospheric temperatures, attributed to global warming. Furthermore, the ability of the chillers to efficiently transfer heat from the internal environment to the external atmosphere is expected to support market growth.
Lockdown imposed to curb the spread of COVID-19 coupled with low GDP growth in various economies has resulted in dampening the construction activities globally. Furthermore, the closure of end-user facilities, including various production facilities and commercial buildings, has hampered the demand for repair & maintenance and aftermarket sales of the product. Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/chillersmarket Chillers Market Report Highlights
The air-cooled segment is expected to witness the fastest CAGR of 4.8% from 2020 to 2027, in terms of revenue, on account of low initial and maintenance costs of these systems due to the simple construction and design
The centrifugal chillers segment is estimated to witness a CAGR of 4.0%, in terms of revenue, from 2020 to 2027, due to increasing adoption of these systems in commercial and industrial buildings for cooling medium to large loads
The medical & pharmaceutical sector accounted for a major share of the global industrial application segment in 2019, due to high product usage in CT scanners, MRI systems, blood cooling systems, electron & laser microscope, and precision laboratory applications
The product demand in Italy is estimated to reach USD 728.1 million by 2027 owing to the positive growth of retail, tourism, and manufacturing industries coupled with increasing investments in the construction industry in the country
Major industry participants are focusing on licensing agreements, new product launches, and mergers & acquisitions to obtain a competitive edge and strengthen the market position
Chillers Market Segmentation
Grand View Research has segmented the global chillers market on the basis of product, compressor type, end-use, and region: Chillers Product Outlook (Revenue, USD Million, 2016 - 2027) Water-Cooled
o
<50kW
o
51-100kW
o
101-200kW
o
201-300kW
o
>301kW
Air-Cooled o
<50kW
o
51-100kW
o
101-200kW
o
201-300kW
o
>301kW
Chillers Compressor Type (Revenue, USD Million, 2016 - 2027) Screw Chillers
Centrifugal Chillers
Absorption Chillers
Scroll Chillers
Reciprocating Chillers
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Chillers End-use Outlook (Revenue, USD Million, 2016 - 2027) Commercial o
Corporate Offices
o
Data Centers
o
Public Buildings
o
Mercantile & Service
o
Healthcare
o
Others
Residential
Industrial o
Chemical
o
Food & Beverage
o
Metal Manufacturing & Machining
o
Medical & Pharmaceutical
o
Plastics
o
Others
Chillers Regional Outlook (Revenue, USD Million, 2016 - 2027) North America
o
The U.S.
o
Canada
o
Mexico
Europe o
France
o
Germany
o
Italy
o
Spain
o
The U.K.
Asia Pacific o
China
o
India
o
Japan
o
South Korea
o
Australia
Central & South America o
Argentina
o
Brazil
Middle East & Africa o
UAE
o
Saudi Arabia
List of Key Players of Chillers Market Trane
Cold Shot Chillers
Tandem Chillers
Drake Refrigeration, Inc.
Refra
Carrier
FRIGEL FIRENZE S.p.A.
Midea
Rite-Temp
Multistack, LLC.
DAIKIN INDUSTRIES, Ltd.
General Air Products
ClimaCool Corp.
JOHNSON CONTROLS - HITACHI AIR CONDITIONING COMPANY
Fluid Chillers, Inc.
Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumptions 1.3. Market Segmentation & Scope 1.4. Market Definition 1.5. Information Procurement 1.5.1. Purchased Database 1.5.2. GVR’s Internal Database 1.5.3. Primary Sources & Third-Party Perspectives
1.5.4. Primary Research 1.6. Information Analysis 1.6.1. Data Analysis Models 1.7. Market Formulation & Data Visualization 1.8. Data Validation & Publishing Chapter 2. Executive Summary 2.1. Market Outlook 2.2. Segmental Outlook 2.3. Competitive Insights Chapter 3. Chillers Market Variables, Trends, & Scope 3.1. Market Lineage Outlook 3.2. Penetration & Growth Prospect Mapping Continue……….. About Grand View Research, Inc.: Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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