Global Chillers Market
Report Highlights
Global Chillers Market
By End use industry (Plastics, Chemicals & Petrochemicals, Rubber), By Type (Scroll Chillers, Centrifugal Chillers, Screw Chillers), By Region (North America, South America, Europe, Asia Pacific, Middle East and Africa and Rest of World).
Market Overview:
The Global Chillers Market was valued at USD 8.80 billion in 2016 and is projected to reach USD 12.63 billion by 2025, growing at a CAGR of 4.10% from 2017 to 2025.
Chillers are used in the industrial sector to maintain equipment temperature for better performance. They are refrigeration devices used to cool raw materials, fluid streams, as well as food and beverages. They are very durable, efficient and have a low environmental impact. Players have adopted product launch and expansion as their key strategies to increase their market share.
Market Dynamics:
1. Market Drivers
1.1 High demand for process cooling in industrial applications.
1.2 High usage of chillers in solar cooling applications.
Market Restraints
2.1 Very slow growth of chillers in Europe and North America.
Market segmentation
The Global Chillers Market is segmented on the basis of End use industry, Type and Region.
1. By End Use Industry.
1.1 Plastics
1.2 Chemicals & Petrochemicals
1.3 Rubber
1.4 Food & Beverage
1.5 Medical & Pharmaceutical
1.6 Others.
2. By Type:
2.1 Scroll Chillers
2.1.1 Air-Cooled Scroll Chillers
2.1.2 Water-Cooled Scroll Chillers
2.2 Centrifugal Chillers
2.2.1 Centrifugal Air-Cooled Chiller
2.2.2 Centrifugal Water-Cooled Chillers
2.3 Screw Chillers
2.3.1 Air-Cooled Screw Chillers
2.3.2 Water-Cooled Screw Chillers
2.4 Reciprocating Chillers
2.4.1 Air-Cooled Reciprocating Chillers
2.4.2 Water-Cooled Reciprocating Chillers
2.5 Absorption Chillers
2.5.1 Steam Absorption Chillers
2.5.2 Direct Fired Absorption Chillers
2.5.3 Hot Water Absorption Chillers
3. By Region:
3.1 North America (U.S., Canada, Mexico)
3.2 Europe (Germany, UK, France, Rest of Europe)
3.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
3.4 Middle East and Africa
3.5 Latin America
3.6 Rest of World.
Competitive Landscape:
The major players in the market are as follows:
1. Daikin Industries, Ltd.
2. Carrier Corporation
3. Johnson Controls – Hitachi Air Conditioning
4. Trane
5. Smardt Chiller Group Inc.
6. Broad Group
7. GEA Group
8. Dunham Bush
9. Thermax Limited
10. Midea Group Co., Ltd.
These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
RESEARCH METHODOLOGY OF VERIFIED MARKET INTELLIGENCE:
Research study on the Global Chillers Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.
The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.
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