Global Chillers Market Overview:
Chillers are a machine that is used to produce chilled water for air conditioning and also process cooling in large facilities. Majorly chillers operate using vapor compression, and they are available in different types. Majorly these chillers are divided into two categories including vapor compression chiller, and a vapor absorption chiller. The vapor compression chiller is further categorized into reciprocating, centrifugal, and others. With the rapid growth of industrialization, this market is having huge growth potential majorly in the Asia Pacific regions. Some of the players profiled in the study are DAIKIN INDUSTRIES, Ltd. (Japan), Trane (Ireland), Carrier Corporation (United States), Smardt Chiller Group, Inc. (Canada), Johnson-Hitachi Air Conditioning Co., Ltd. (Japan), GEA Group (Germany), Thermax Limited (India), Dunham Bush (United States), Broad Group (China) and Advantage Engineering, Inc. (United States).
On the basis of geography, the market of Chillers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Components, the sub-segment i.e. Compressor will boost the Chillers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End Users, the sub-segment i.e. Plastic will boost the Chillers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Vapor Chillers will boost the Chillers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Growth Drivers
- Growing Requirement for Process Cooling in Industrial Areas
- Increase in Demand for Chillers from Developing Economies Such as the Asia-Pacific and Majorly from China, and India
- High Growth in Usage of Chillers Across Solar Cooling Applications
- Increase in New Market Entrants
- High Adoption from China Because of High Growth in Industrialization
- Less Investment in New Market Players Because of Slowdown in Economy
- Growing Demand for Absorption Chillers
- Rising Demand Form the Food and Beverages Industry
- High Cost Required in Production in Maintenance
Key Market Developments:
In Nov 2019, Kirloskar Chillers announced the launch its India’s new range of water-cooled chillers, which is known as India’s first oil-free magnetic veering compressor. Through this strategic initiative, the company is aiming to capture a major market share in India.
The global chillers market is moderately competitive and covers the various market growth key players. In terms of market share, some manufacturers are presently dominating the global market. These market players are focusing on strategic business initiatives to enhance their market share and improve their overall business profitability.
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Chillers Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
Major Objectives Focused through this Study
To define, describe, and forecast the Global Chillers market on the basis of product [Screw Chillers, Scroll Chillers, Centrifugal Chillers, Absorption Chillers and Reciprocating Chillers] , application , key regions and end user
To provide in-depth information regarding major influencing factors affecting the growth of the market (trends, drivers, restraints, opportunities, and industry-centric and regional challenges)
To strategically analyse the micro-markets and important business segments with respect to individual growth drivers , market trends and potential, and historical contributions to the total market
Identifying the opportunities in the market for key stakeholders and detailing the competitive landscape for market leaders
To provide market size for various segments of the Chillers market with respect to major geographies, namely, South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico)
To strategically profile the key players and analyzing their market shares and core competencies in the Chillers industry
To track key developments such as product launches, expansions, agreements, partnerships, mergers & acquisitions, and R&D activities that are key factors in shaping the market
Available Customization: Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**. Additionally, the Manufacturers which are also part of the research are Airedale Air Conditioning (United Kingdom), BlueBox by Swegon (Italy) and BV Thermal Systems (United States).
** Confirmation on availability of data would be informed prior purchase
While framing the research framework, major and emerging players operating in the Chillers market in various regions have been profiled, and their offerings, geographic footprints, and distribution/sales channels have been analysed through in-depth discussions. The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.