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Over $9.0 Billion Revenue Expected in Global Chiller Market in 2024
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Moreover, the R32 chillers have an extremely lower global warming potential (GWP), as compared to the R22 and R410A-powered chillers, which causes lower emission of greenhouse gases into the atmosphere. Furthermore, these chillers, owing to their considerably higher volumetric cooling capacity, are very useful in industrial applications.
Geographically, the Asia-Pacific (APAC) region registered the highest demand for chillers in 2018. China recorded the highest utilization of chillers in the APAC region in 2018, and the country is expected to see significant growth in their demand in the coming years as well, which is primarily attributed to the flourishing construction sector in the country.
For instance, cities like Wuhan and Shanghai will observe large-scale construction activities in the coming years, which will further propel the demand for chillers in the country.
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Therefore, owing to the burgeoning construction activities in several countries, soaring global temperature, and rising demand for cooling equipment from various industries, the sale of chillers is predicted to boom in the coming years.
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