Press release
Chillers Market 2022 Analysis By Size, Share, Growth, Trends Up To 2031 | Carrier Corporation, Daikin Industries, Trane Technologies Plc., Hitachi Air Conditioning Company
Chillers Market
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The global chillers market report by the business research company identifies rise in new commercial construction buildings to be a major growth driver for the chillers market. The commercial buildings use chillers to remove heat from the air and help in achieving a proper temperature control. Smart commercial buildings are incorporating smart technologies, such as occupancy sensors, smart thermostats, and HVAC and lighting controls help reduce energy usage in unoccupied offices, conference rooms, and other spaces. For instance, according to The American Council for an Energy Efficient Economy (ACEEE), technologies used in smart building can reduce 18% energy consumption for HVAC systems, 28% for plugged equipment and 33% for lighting. Further, according to Invest India, there is an increase in the commercial space for buildings, with the office space absorption across India's largest 6 cities at 31.9 million sq.ft. in 2020. Therefore, the rise in new commercial construction buildings is expected to create opportunities for various players involved in the chillers market.
The global chillers market is expected to grow from $8.15 billion in 2021 to $8.46 billion in 2022 at a compound annual growth rate (CAGR) of 3.81%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The global chillers market is expected to reach $10.21 billion in 2026 at a CAGR of 4.80%.
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Asia pacific was the largest region in the Chillers market in 2021. The regions covered in the chillers global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major players in the chillers market are Carrier Corporation, Daikin Industries, Trane Technologies Plc., Hitachi Air Conditioning Company, Johnson Controls International PLC, Thermax Limited, Smardt Chiller Group Inc., Mitsubishi Electric Corporation, Midea, LG Electronics Inc., Reynold India Pvt. Ltd., Dimplex Thermal Solutions, Dunham Group, Frigel Firenze SpA, Friulair S.R.L, HYDAC International, Thermal Care Inc., SKM Air Conditioning, MTA S.P.A, and KKT Chillers.
The global chillers market is segmented -
1) By Product Type: Air Cooled Chiller, Water Cooled Chiller
2) By Power Range: Less than 50 kW, 50-200 kW, More than 200 kW
3) By Compressor Type: Screw Chillers, Centrifugal Chillers, Absorption Chillers, Reciprocating Chillers
4) By End User: Commercial, Industrial, Residential
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The Chillers Market Report Contents Include
1. Executive Summary
2. Chillers Market Characteristics
3. Chillers Market Trends And Strategies
4. Chillers Market - Macro Economic Scenario
5. Chillers Market Size And Growth
....
26. Africa Chillers Market
27. Chillers Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Chillers Market
29. Chillers Market Future Outlook and Potential Analysis
30. Appendix
This report covers the trends and market dynamics of the Chillers market in major countries - Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The report also includes consumer surveys and various future opportunities for the market.
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