HVAC Chillers Market Statistics, Competitor Landscape, Company Profiles and Business Trends

HVAC Chillers Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Technology (Air-Cooled, Water-Cooled, and Steam-Fired), Type (Process Chillers, Scroll Chillers, Screw Chillers, Centrifugal Chillers, and Absorption Chillers), and Application (Commercial, Industrial, and Residential)

Rising Demand from Various Industries to Provide Growth Opportunities for HVAC Chillers Market during 2021-2028

According to our latest market study on "HVAC Chillers Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Technology, Type, and Application," the market is expected to grow from US$ 9,425.53 million in 2021 to US$ 12,878.92 million by 2028; it is estimated to grow at a CAGR of 4.56% from 2021 to 2028.

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The increasing number of infected individuals led governments of North American countries to close nation's borders during Q2 of 2020. Manufacturing facilities are either temporarily shut or are operating with limited staff. Moreover, the supply chains of components and parts are disrupted. The US is the largest markets for HVAC chillers, especially due to its technologically advanced food & beverage and industrial manufacturing sectors. However, the outbreak has severely affected the production and revenue generation due to lowered production volumes across different industries. Thus, the COVID-19 pandemic continues to have a negative impact on the growth of the HVAC chillers market in North America.

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The global HVAC chillers market is segmented on the basis of technology, type, application, and geography. The market, based on technology, is segmented into air-cooled, water- cooled, and steam-fired. By type, the market is segmented into process chillers, scroll chillers, screw chillers, centrifugal chillers, and absorption chillers. The market, based on application, is segmented into commercial, industrial, and residential. By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (China, India, South Korea, Japan, Australia, and the Rest of APAC), Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of MEA), and South America (Brazil, Argentina, and the Rest of SAM).
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LG Electronics; Mitsubishi Electric Corporation; Carrier Global Corporation; DAIKIN INDUSTRIES, Ltd.; Thermal Care, Inc.; Trane; Kaltra; SKM Air Conditioning; Johnson Controls, Inc.; and AIREDALE INTERNATIONAL AIR CONDITIONING LTD. are among the major companies operating in the HVAC chillers market.

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