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Industrial Chillers Market is Expected to Grow at a CAGR of 4.1% between 2021-2031 | Thermax Ltd, Midea Group, LG Electronics

05-17-2023 08:15 AM CET | Industry, Real Estate & Construction

Press release from: Global Insight Services

Industrial Chillers Market is Expected to Grow at a CAGR of 4.1%

Global Industrial Chillers Market is expected to reach $7.3bn in 2031 growing at a CAGR of 4.1% between 2021-2031.

Industrial chillers are mostly utilized in the manufacturing industry to keep equipment and the surroundings cool. Compressors, condensers, evaporators, control units, expansion valves, and power panels are the main components of an industrial chiller. Furthermore, chillers provide air conditioning by removing undesired heat from industrial structures. The income generated by sales of chillers in end-user sectors such as chemicals, pharmaceuticals, energy, and food & beverages, among others, makes up the industrial chillers market size.

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Key Trends and Drivers:

As per capita wealth rises around the world, demand for comfort and leisure products such as refrigerators and air conditioners rises. Another driving force for the cooling equipment market is the rising food and healthcare industries.
The market is primarily driven by the increase in demand for industrial chillers in the fast-moving consumer goods (FMCG) industry. This is due to an increase in the consumption of processed and packaged foods and beverages in emerging economies.

The expansion of the industrial chillers market is also expected to be aided by factors such as the rise in industrialization and the number of manufacturing facilities across various countries.
The requirement for IoT in chillers has resulted in the creation of connected chillers. Preventive maintenance and other unique features are becoming increasingly popular. Reduced downtime, fewer interruptions, and long equipment life are all advantages of smart chillers.

Read more about Industrial Chillers Market here: https://www.globalinsightservices.com/reports/industrial-chillers-market/

Market Segments:

By Type

Screw Chiller
Scroll Chiller
Centrifugal Chiller
Others

By Product Type

Air-Cooled Chiller
Water-Cooled Chiller

By Power Range

Less than 50 kW
50-200 kW
More than 200 kW

By End Industry

Chemicals & Petrochemicals
Food & Beverages
Plastics & Rubber
Medical
Others

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Key Players

Carrier Global Corporation
Mitsubishi Electric Corporation
Daikin Industries Ltd
Dimplex Thermal Solutions
LG Electronics
Johnson Controls International Plc
Gree Electric Appliances Inc of Zhuhai
Midea Group Co. Ltd
Thermax Ltd
Trane Technologies Plc.
Drake Refrigeration Inc.
Haier Electronics Group Co. Ltd.
Senho Machinery (Shenzhen) Co., Ltd.
United Technologies Corporation

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With Global Insight Services, you receive:

10-year forecast to help you make strategic decisions
In-depth segmentation which can be customized as per your requirements
Free consultation with lead analyst of the report
Excel data pack included with all report purchases
Robust and transparent research methodology

Groundbreaking research and market player-centric solutions for the upcoming decade according to the present market scenario

New Report Published by Global Insight Services: https://www.globalinsightservices.com/reports/hydrogen-projects-database/

Contact Us:

Global Insight Services LLC
16192, Coastal Highway, Lewes DE 19958
E-mail: info@globalinsightservices.com
Phone: +1-833-761-1700
Website: https://www.globalinsightservices.com/

About Global Insight Services:

Global Insight Services (GIS) is a leading multi-industry market research firm headquartered in Delaware, US. We are committed to providing our clients with the highest quality data, analysis, and tools to meet all their market research needs. With GIS, you can be assured of the quality of the deliverables, robust & transparent research methodology, and superior service.

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