Press release
HVAC chillers Market is expected to reach US$ 14.3 billion by 2031
HVAC chillers Market
Read more about HVAC chillers market here: https://www.globalinsightservices.com/reports/hvac-chillers-market/
The global HVAC chillers market was valued at US$ 9.4 billion in 2021 and it is anticipated to grow up to US$ 14.3 billion by 2031, at a CAGR of 4.2% during the forecast period.
HVAC chillers transfer heat away from a space that requires climate control much like a traditional split system or package unit does, but they use water (or a water solution) to do so instead of air. There are three types of HVAC chillers: water-cooled, air-cooled, and steam-fired. They work similarly throughout most of the process until the refrigerant reaches the condenser.
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Global HVAC Chillers Market Segmentation
By Technology
Air-Cooled
Water-Cooled
Steam-Fired
By Type
Process Chillers
Scroll Chillers
Screw Chillers
Centrifugal Chillers
Absorption Chillers
Key Players
Airedale International (U.K.)
Carrier Global Corporation (U.S.)
Daikin Industries, Ltd. (Japan)
Johnson Controls (U.S.)
Kaltra GmbH (Germany)
LG Electronics (South Korea)
Mitsubishi Electric Corporation (Japan)
SKM Air Conditioning (UAE)
Thermal Care, Inc. (U.S.)
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Market Drivers and Trends
The improving economic conditions across the globe coupled with urbanization has led to the growth in the industrial sector. There has been a rise in the construction of medical centers, malls, complexes, hotels, commercial buildings and manufacturing facilities, which propels the demand for HVAC chillers. Urbanization has changed the lifestyle of the people and increased the inclination towards safety and security. Technological developments along with the modifications in government and organizational regulations for temperature control contributes towards the growth of the HVAC chiller market. Urbanization and growing population in European countries are driving factors for growth of chillers market in this region. Surging disposable income, temperature concerns, and spending on comfort and luxury are a few factors that drive the growth of the global HVAC chillers market.
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