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Chillers Market 2023 Research Report Analysis - Daikin Industries, Carrier Corporation
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Chillers Market by End-use industry (Chemical & Petrochemical, Plastic Rubber, Medical & Pharmaceutical, Food & Beverage), By Type (Centrifugal, Screw Scroll, Reciprocating,Absorption), Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America), Global Industry Analysis, Market Size, Share, Growth, Trends, and Forecast 2021 to 2030
Daikin Industries, Carrier Corporation, Trane Technology, Johnson Controls- Hitachi Air Conditioning, Mitsubishi Electric Corporation, Smardt Chiller Group Inc., KKT Chillers, MTA SPA, and Friulair S.R.L. among others which are offering more excellent opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.
The end-user segment includes plastic, chemical & petrochemical, rubber, food & beverage, medical & pharmaceutical. The medical & pharmaceutical segment held the largest market share in the year 2020, owing to its use in various buildings, including healthcare facilities, corporate offices, data centers, public buildings, education institutes, and warehouses, to keep the temperature in the structures stable during hot weather. Chillers are used to cool the heat generated in high-density enclosed spaces in data centers. The requirement to maintain a constant temperature, humidity, air cleanliness, and air movement within data centers to avoid downtime and equipment failure is expected to boost the commercial product adoption. The type segment includes screw, scroll, centrifugal, absorption, reciprocating. The screw segment has the largest market share due to various features such as low maintenance and high efficiency, resulting in product popularity. Environmentally conscious consumers are delaying their purchase of screw compressors that use the eco-friendly cooling system. Furthermore, features such as reduced noise, low noise, and user-friendly touch panels have been specifically designed to cover all operations ranging from process industries in factories to building air conditioning.
The chillers market has grown significantly in recent years. Expanding refrigerated food intake, rising demands from numerous businesses, shifts in consumer living habits, and enhanced efficiency may all be attributable to this development. Likewise, the global chillers market is likely to be driven by increasing demands for chillers from numerous industries as a result of energy-efficient absorption chillers. Furthermore, higher modernization, major concern about fuel efficiency, technical advancement, expanded cooling working areas, and greater usage of eco-friendly goods will boost worldwide market expansion in the approaching years.
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