Chiller Market by Type (Screw, Scroll, Centrifugal, Absorption, and Reciprocating Chillers) and End User (Chemicals & Petrochemicals, Food & Beverages, Plastics, Rubber, and Medical & Others) - Global Opportunity Analysis and Industry Forecasts, 2014-2022
Chillers Market are extensively used in industries such as plastic, chemical & petrochemical, rubber and others. In the medical industry, cooling down of hospital magnetic resonance imaging (MRI) units is amongst major applications of chillers.
Moreover, these are increasingly being used in the food & beverage industry to maintain the temperature of production equipment and storage environment. Market players provide chillers of various sizes and cooling capabilities to meet the requirements of customers.
In the commercial sector, offices, hotels, and hospitals exhibit increasing demand for various types of chillers. In addition, hectic lifestyle of consumers has increased the adoption of frozen foods, which has supplemented the demand for chillers by the food processing industry.
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Increase in demand for energy-efficient cooling solutions across industries such as plastic, chemical & petrochemical, rubber & others drives the global chiller market. However, high cost associated with electricity restraints the market growth.
Technological advancements are expected to create potential business opportunities for the industry in the near future.
The global chiller market is segmented based on type, end user, and geography. The type segment includes screw, scroll, centrifugal, absorption, and reciprocating chillers.
The end user segment comprises industries such as chemicals & petrochemicals, food & beverages, plastics, rubber, and medical & others. Geographically, the market is classified into North America, Europe, Asia-Pacific, and LAMEA.
Scroll chiller has gained widespread popularity in the market owing to its extensive usage in wide application areas. The absorption chiller segment is expected to report a relatively faster growth, owing to its low maintenance and manufacturing cost, which have increased its penetration among consumers.
The players profiled in the report are Daikin Industries Ltd., Johnson Controls, Trane Inc., Carrier Corporation, Smartd Chiller Group Inc., Thermax Ltd., Hitachi Appliances Inc., Climaveneta S.P.A., Polyscience, and Dimplex Thermal Solutions. Other players included in the value chain are Thermal Care Inc., BV Thermal Systems, Temptek Inc., Advantage Engineering Inc., Broad Air Conditioning Co. Ltd., Hyundai Climate Control Co., Ltd., Robur Group, Yazaki Corporation, and Kawasaki Thermal Eng. Co. Ltd.
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POTENTIAL BENEFITS FOR STAKEHOLDERS
- A comprehensive analysis of the current and future market trends in the global chiller market to identify the potential investment pockets is discussed.
- The report provides impact analysis of key market growth drivers, restraints, and opportunities.
- Quantitative analysis of the market from 2014 to 2022 is provided to showcase the financial scenario and chiller industry growth.
- Porter’s Five Forces model illustrates the potency of the buyers & suppliers who participate in the market.
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