Press release
Advancement: Global Chilled Water Storage System Market- Huge Growth Opportunities and Forecast to 2028
Chilled water storage system is made of steel or concrete and can be located either below or above the ground. Systems, which are smaller in size are usually made up of steel and whic are bigger in size are made up of concrete. It is used to store water at temperature ranging from 4.40 Celsius to 5.60 Celsius with the help of conventional chillers. The chilled water storage system is a type of TES (Thermal Energy Storage), which is a widespread technique to implement energy management strategy from the demand side.
In a chilled water storage system, during discharge, the cold water at the bottom of the cistern is equally replaced by warm water at the top of the cistern. Water exhibit different densities at different temperatures, and so the chilled water storage system has a stratified layer installed in it. Then the chilled water is supplied to the destination and connected to air handlers. However, within the condenser cistern, the process gets reversed. The water absorb heat from the refrigerant and allow it to cool.
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On the basis of size, chilled water storage systems are available in a range from 1 tonne to several 100 tonnes. Also, they are used in building applications such as residential, commercial and industrial. Additionally, they are designed for commercial projects of over 500,000 square feet, which has space in order to install chilled water storage system. On the basis of storage and mixing of water, they are divided into three types namely, multiple tank systems, stratified tank/nozzle matrix and diaphragm systems.
The design of stratified tank or nozzle matrix method uses diffusers or nozzles, which are located either at the bottom or at the top of the tank. The nozzles or diffusers will help in filling or diffusing the chilled and warm water during operation. Also, they are designed to deliver a sharp and stable transition layer, which allows the natural stratification of water. The multiple tank systems are designed to keep the warm water and chilled water apart, it has one empty tank to receive or dispense water. And, in diaphragm systems, with the help of vertically and horizontally moving diaphragm, chilled water gets separated in a tank, with the changing volume of chilled water.
Chilled Water Storage System Market:Market Dynamics
Some factors such as growing necessity of maintaining heat density at many places such as oil and gas refineries, petroleum refineries and automotive manufacturing industries are the key driving factors of the chilled water storage system industry. Additionally, new cooling systems in industries, growing demand from power generation plants, increasing demand for cost and energy effective products, etc. are the drivers for the industry.
On the other hand, high cost of electricity supply that is used by cooling systems at industries is the major restraint to the chilled water storage system market. Some factors such as significant demand for free cooling, storage cooling solutions, growing use of efficient air cooling systems, etc. can be considered as the trends in the industry. Furthermore, increasing focus on green buildings and renovation of old constructed buildings to green buildings are expected to be the emerging opportunities for the chilled water storage system market.
Chilled Water Storage System Market: Segmentation
Segmentation of the Chilled water storage system market on the basis of type:
Stratified tank systems
Multiple tank systems
Diaphragm tank systems
Segmentation of the Chilled water storage system market on the basis of application:
Food processing & storage
Industrial, commercial and residential
Healthcare & pharmaceuticals
Petrochemical processing
Petroleum & natural gas refining
Power generation and automotive
Chilled Water Storage System Market: Regional Outlook
In terms of value and volume, Asia Pacific and Europe are the major market share holders of chilled water storage system industry as compared to other regions. The Middle East and Africa region follows the aforementioned region in terms of market share. Moreover, countries such as India, China and Brazil are estimated to be the foremost consumers of chilled water storage system, followed by some developed countries such as Japan and Spain.
Power generation, automotive manufacturing, petrochemical processing and similar sectors are influencing the market demand for chilled water storage system, owing to the growing awareness of new techniques among end users. The aforementioned factor is predominantly affecting the market in countries such as Italy, China, India and Germany. And, growing sectors such as pharmaceuticals, petroleum refineries and natural gas refineries are estimated to enhance the market shares of China and India, which will boost the market for chilled water storage system industry.
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Chilled Water Storage System Market: Market Participants
Examples of some of the market participants in the chilled water storage system market, identified across the value chain, include, Wessels Company, Cool Water Technologies, Cooling Tower Systems, Inc., Delta Cooling Towers, Inc., Johnson Controls., Brentwood Industries, Inc., Paharpur Cooling Towers Limited, Berg Chilling Systems Inc., Liang Cooling Tower Sdn Bhd and King Sun Industry Co. Ltd. & Horus Air Moving Co. Ltd. among others.
MRR.BIZ has been compiled in-depth market research data in the report after exhaustive primary and secondary research. Our team of able, experienced in-house analysts has collated the information through personal interviews and study of industry databases, journals, and reputable paid sources.
The report provides the following information:
Tailwinds and headwinds molding the market’s trajectory
Market segments based on products, technology, and applications
Prospects of each segment
Overall current and possible future size of the market
Growth pace of the market
Competitive landscape and key players’ strategies
The main aim of the report is to:
Enable key stakeholder’s in the market bet right on it
Understand the opportunities and pitfalls awaiting them
Assess the overall growth scope in the near term
Strategize effectively with respect to production and distribution
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