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Industrial Air Chiller Market Outlook 2024: Exclusive Report By The Business Research Company | Johnson Controls International PLC, Mitsubishi Electric Corporation, Daikin Industries Ltd., Trane Technologies Company LLC, Carrier Global Corporation, Blue S
Industrial Air Chiller Market Trends
The Business Research Company offers in-depth market insights through Industrial Air Chiller Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The industrial air chiller market size has grown strongly in recent years. It will grow from $4.77 billion in 2023 to $5.03 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to incentives and rebates, geopolitical factors, maintenance practices, industry demand shifts, refrigerant regulations..
The industrial air chiller market size is expected to see strong growth in the next few years. It will grow to $6.17 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to adoption of renewable energy, after-sales services, resilience to climate change, investment in r&d, replacement cycle, urbanization and infrastructure development.. Major trends in the forecast period include energy efficiency, environmental regulations, demand from end-use industries, urbanization and infrastructure development, focus on precision cooling..
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Market Segmentation:
The industrial air chiller market covered in this report is segmented -
1) By Type: Centrifugal Chillers, Reciprocating Chillers, Scroll Compressor Chillers, Screw Driver Chillers
2) By Function: Stationary, Transport
3) By End User Industry: Food And Beverage, Pharmaceutical, Utility And Power, Oil And Gas, Other End User Industries
Major Driver - Rise In Pharmaceutical Industry To Drive Market Growth
The rising growth of the pharmaceutical industry is expected to propel the industrial air chiller market growth going forward. Pharmaceuticals are the companies that are involved in the manufacture and sale of drugs used for medical use. Industrial air chillers are used for the safe storage of medicines, drugs, and other chemicals in the pharmaceutical industry, so the growth of pharmaceuticals would propel the market. For instance, in August 2021, according to Office For National Statistics, a UK-based government department, in the UK, the manufacture of pharmaceuticals increased by US$1.12 billion (8%) to a total of US$15.25 billion in 2020. Therefore, the rising growth of the pharmaceutical industry is driving the growth of the industrial air chiller market.
Competitive Landscape:
Major companies operating in the industrial air chiller market report are Johnson Controls International PLC, Mitsubishi Electric Corporation, Daikin Industries Ltd., Trane Technologies Company LLC, Carrier Global Corporation, Blue Star Limited, Airedale International Air Conditioning Ltd., Hiver Aircon Pvt. Ltd., GEM Orion Machinery Private Limited, Jiangsu Huazhao Refrigeration Equipment Co. Ltd., Fujitsu General Limited, Haier Group Corporation, Midea Group, Ingersoll Rand Inc., Panasonic Holdings Corporation, Hitema International S.r.l., HYDAC Technology GmbH, KKT chillers Inc., Lennox International Inc., LG Electronics Inc., MTA S.p.A., Multistack LLC, Parker-Hannifin Corporation, Process Cooling Systems Inc., Reynold India Pvt. Ltd., Rittal GmbH & Co. KG, Shanghai Shenglin M&E Technology Co. Ltd., Sterling HVAC Products, Thermal Care Inc., YORK International Corporation
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Top Trend - Product Innovations Reshape The Landscape Of The Industrial Air Chiller Market
Product innovation is a key trend gaining popularity in the industrial air chiller market. Major companies operating in the industrial air chiller market are focused on developing innovative products to strengthen their position. For instance, in March 2021, Mitsubishi Electric, a Japan-based manufacturer of electronic products launched the R32 version of e-series air-cooled chillers. They are available in 150kW and 180kW units and it is expected to allow connection to six units to provide a total capacity of 1080kW. It has unique properties including internal headers and low-temperature ambient loop heat network solutions. The cooling version has been employed with high-efficiency inverter compressors and is expected to improve aluminum microchannel and heat exchange coils.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Industrial Air Chiller Market Characteristics
3. Industrial Air Chiller Market Trends And Strategies
4. Industrial Air Chiller Market - Macro Economic Scenario
5. Industrial Air Chiller Market Size And Growth
…..
27. Industrial Air Chiller Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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