Global Chillers Market Size study & Forecast, by Type (Screw Chillers, Scroll Chillers, Centrifugal Chillers, Absorption Chillers, Reciprocating Chillers) By End-use Industry (Plastic, Food & Beverage, Chemical & Petrochemical, Rubber, Medical & Pharmaceu

Global Chillers Market Size study & Forecast, by Type (Screw Chillers, Scroll Chillers, Centrifugal Chillers, Absorption Chillers, Reciprocating Chillers) By End-use Industry (Plastic, Food & Beverage, Chemical & Petrochemical, Rubber, Medical & Pharmaceutical) and Regional Analysis, 2022-2029

Global Chillers Market is valued approximately USD XXX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. In the industrial sector, chillers are generally used to control equipment temperature and maintain the atmosphere cool. Compressors, evaporators, condensers, controllers, power panels, and expansion valves are a few of the parts of chillers. Chillers lower the temperature rooms by removing heat from industrial and commercial structures. The chiller are widely used in food and beverages, petrochemical and pharmaceutical industries. The key factor driving the market growth is rising consumption of frozen and processed food, increasing infrastructure development, and growing demand in petrochemical and pharmaceutical industry that anticipated to support the market growth.

Frozen and processed food consumption has increased around the globe as a result of a number of causes, including convenience, rising disposable income, changing lifestyle, etc. Thus, the rising demand for frozen food is anticipated to create the lucrative demand for the market. For instance, according to Statista, in 2020, the frozen food sales in Germany were valued over USD 13,850 million, and are anticipated to reach USD 19,464 million by 2026. Further, rapid industrialization coupled with technological advancements creating growth opportunity in the market. However, the high initial setup cost impedes the growth of the market over the forecast period of 2022-2029.

The key regions considered for the Global Chillers Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia Pacific is the leading/significant region across the world in terms of market share owing to presence of huge HVAC industries. Furthermore, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2022-2029. Factors such increasing industrial activity coupled with heavy investments across industries such as chemical & petrochemical, plastic, and food & beverage would create lucrative growth prospects for the Chillers market across Asia-Pacific region.

Major market player included in this report are:
Daikin Industries, Ltd.
Carrier Corporation
Trane
Johnson Controls – Hitachi Air Conditioning
Smardt Chiller Group Inc.
Broad Group
Dunham Bush
GEA Group
Midea Group Co., Ltd.
Thermax Limited

Recent Developments in the Market:
 In March 2022, Daikin announced the launch of Navigator, a screw compressor water-cooled chiller designed with variable volume ratio technology. The Navigator provides the power of efficiencies that satisfy ASHRAE 90.1-2016 requirements and IPLV as low as 0.36 thanks to Daikin's Applied innovation, VVR technology, and water-cooled technology.

Global Chillers Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, End-use Industry, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:
Screw Chillers
Scroll Chillers
Centrifugal Chillers
Absorption Chillers
Reciprocating Chillers
By End-use Industry:
Plastic
Food & Beverage
Chemical & Petrochemical
Rubber
Medical & Pharmaceutical

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
RoLA
Rest of the World

Companies Mentioned

Daikin Industries, Ltd.
Carrier Corporation
Trane
Johnson Controls – Hitachi Air Conditioning
Smardt Chiller Group Inc.
Broad Group
Dunham Bush
GEA Group
Midea Group Co., Ltd.
Thermax Limited

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