The Centrifugal Chiller System Market to witness optimization in the next decade

A centrifugal chiller system plays a vital role in commercial and industrial cooling and refrigeration systems. Centrifugal chiller system helps in maintaining a persistent temperature to support industrial institutions and also supplies chilled water for various end use industries such as food processing, automotive, commercial buildings, etc. Centrifugal chiller system is used to cool large commercial buildings. A centrifugal chiller system uses vapor compression cycle to cool water and it rejects the heat which is collected from the cold water and from the cooling tower. Most of the centrifugal chiller systems use either hermetic induction motors or open-drive to drive the compressors. A centrifugal chiller system comprises of various components such as evaporator, compressor, condenser and expansion device, among others. Nowadays, centrifugal chiller system comes with employ PID (proportional-integral-derivative) and DDC based loops for stable control. Some of the manufactures in market are using dual compressor, by applying two compressors on a common refrigeration cycle, to significantly improve the part load efficiency of a centrifugal chiller system.
Centrifugal Chiller System Market: Dynamics
The need for cold water in cooling equipment and process machinery in these industries is estimated to drive demand for the centrifugal chiller system globally. Growing number of power plants, one of the prime consumers of centrifugal chiller systems, in various regions is estimated to drive demand in the coming years. Growing medical and school facilities in metropolitan cities is also expected to drive the demand for centrifugal chiller systems. Key manufactures in the centrifugal chiller system market are focusing on product innovation according to growing customer demand. For instance, manufactures are developing oil-free centrifugal chiller systems as customers are preferring products with better efficiency and low operating costs. In compressor type, the dual compressor centrifugal chiller system is widely used in various end use industries such as, food processing and commercial buildings, as they are more efficient and has less operating costs as compared to single compressor centrifugal chiller system. In developing countries, governments are significantly investing on the development of infrastructure in industrial sector, which is expected to drive the demand for centrifugal chiller system market. Presence of other substitute products like absorption chiller, air-cooled screw chiller and modular chiller, is expected to hamper the demand for centrifugal chiller system.

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Centrifugal Chiller System Market: Segmentation
The centrifugal chiller system market can be segmented on the basis of compressor type, product type, technology and end-use industry
On the basis of compressor type, the centrifugal chiller system can be segmented as:
• Single Compressor
• Dual Compressor
On the basis of product type, the centrifugal chiller system can be segmented as:
• Magnetic Bearing Centrifugal Chiller
• Conventional Centrifugal Chiller
• Oil-Free Centrifugal Chiller
On the basis of technology, the centrifugal chiller system can be segmented as
• Single Stage Centrifugal Chiller System
• Double Stage Centrifugal Chiller System
On the basis of end-use industry, the centrifugal chiller system can be segmented as
• Chemicals & Gases
• Food & Beverages
• Pharmaceuticals
• Automotive
• Power Generation
• HVAC

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Centrifugal Chiller System Market: Regional Outlook
Europe is projected to have protuberant market share given the high number of food & beverage and medical industries in the region. Asia Pacific is estimated to hold a prominent share in the centrifugal chiller system market due to substantial growth in the automotive industry in countries like India, Japan and China. Growing number of power plants across China, India and South Korea is likely to drive the demand for the centrifugal chiller market. North America is expected to register considerable growth in centrifugal chiller system market because of the well-established commercial, power generation and food processing industries in the region. Middle East & Africa centrifugal chiller system market is expected to witness a slow growth as compared to other regions.

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