Robust Expansion of Industrial Facilities is Proliferating the Growth of GCC Chiller Market

According to MarkNtel Advisors’ research report “GCC Chillers Market Analysis, 2021”, the GCC Chillers market is anticipated to grow at a CAGR of around 6% during 2021-2026. The rising energy consumption is increasing the various environment concern in the region, thus proliferating the demand for energy-saving chillers. The inclination towards the deployment of district cooling system has elevated the demand for chiller due to constant rise in the temperature and soaring government initiative to curb the emission of greenhouse gases (GHG). Moreover, various other factors leading to the growth of the market are burgeoning demand for packaged food due to surging working population, rising investment in infrastructure development project and robust expansion of industrial facilities.

Key questions answered in the study:
1. What are the current and future trends of the GCC Chillers industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the GCC Chillers industry?
5. What is the customer orientation, purchase behavior, and expectations from the Chillers firms across various regions?

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Water-Cooled Chiller Acquired the Largest Share

Based on Product, Water Cooled acquired the largest share in 2020. Robust surged in the adoption of water-cooled has been observed over the past few years due to its features such as higher efficiency and longer life span. The application of water-cooler chiller are mostly in food & beverages industry, small hospitals & clinics and in district cooling system. The centrifugal, screw water cooled chiller are among the common chiller use in the region. Besides this, the introduction of water-cooled inverter chiller is projected to fuel the growth of the segment in the near future.

“GCC Chillers Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Chillers providers across the Region. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

For detailed analysis, visit: https://www.marknteladvisors.com/research-library/gcc-chillers-market.html

Food & Beverages Exhibits Fastest Growth
Based on End-User, Food & Beverages segment is growing at an astronomical rate in the GCC Chiller market in 2020. The growth of the segment is attributed to robust urbanization, boost in government initiatives for food preservation due to growing food wastage concern along with propelling demand for frozen food and juices among people on account of growing working population. Besides these, the adoption of chiller in Chemicals & Petrochemicals is also growing at an exponential rate due to increasing need for gasoline, oil, and other petroleum product among end-user such as pharmaceutical, tires etc. The deployment of chiller is used to maintain the temperature of the equipment in the petrochemical sectors. Hence, upsurge in the chemical & petrochemical demand would strongly contribute towards the growth of Chillers Market in the forthcoming period as stated in MarkNtel Advisors’ research report “GCC Chillers Market Analysis, 2021”.

According to MarkNtel Advisors’, the key players with a considerable market share in the GCC Chillers market are Daikin Middle East and Africa FZE, Johnson controls, S.K.M Air Conditioning LLC, Petra Engineering Industries Company, Midea Group, Gami Air Conditioners Manufacturing Company L.L.C., Zamil Air conditioners, Smardt Chiller Group FZE, Dunham-Bush, Carrier Corporation etc.

Market Segmentation:
1. By Compressor Type (Screw Chillers, Scroll Chillers, Reciprocating Chillers, Turbocor Chillers, Centrifugal Chillers, Absorption Chillers)
2. By Product (Air-Cooled, Water-Cooled)
3. By End-User (Rubber, Plastics, Medical & Pharmaceutical, Chemicals & Petrochemicals, Food & Beverage, Healthcare, Hospitality, Others (Residential, Government & Transportation, etc.))
4. By Country (UAE, Saudi Arabia, Qatar, Bahrain, Kuwait, Oman),
5. By Company (Daikin Middle East and Africa FZE, Johnson controls, S.K.M Air Conditioning LLC, Petra Engineering Industries Company, Midea Group, Gami Air Conditioners Manufacturing Company L.L.C., Zamil Air conditioners, Smardt Chiller Group FZE, Dunham-Bush, Carrier Corporation etc.)

MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals. MarkNtel Advisors helps the global exporters & importers in finding genuine, trusted & reliable custom import & export data worldwide.

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MarkNtel Advisors is a leading research, consulting and data analytics firm that provides a wide range of strategic reports on diverse industry verticals to a substantial and varied client base that includes multinational corporations, financial institutions, governments, and individuals.

We specialize in niche industries and emerging geographies to support our clients in the formulation of strategies viz. Go to Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, trend analysis, etc. in around 15 industry verticals to enable our clients in identifying attractive investment opportunities and maximizing ROI through an early mover advantage.

This release was published on openPR.