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Chillers Market worth $6.45 billion by 2030, growing at a CAGR of 4.25% - Exclusive Report by 360iResearch
Chillers Market | 360iResearch
The Global Chillers Market to grow from USD 4.82 billion in 2023 to USD 6.45 billion by 2030, at a CAGR of 4.25%.
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The chillers market encompasses various types of cooling systems that provide temperature regulation, dehumidification, and heat removal for commercial and industrial applications. These systems are energy-efficient alternatives to conventional air conditioners and refrigeration units, utilizing vapor-compression or absorption techniques to transfer heat for cooling purposes. Increasing demand for energy-efficient cooling solutions due to stringent government regulations on energy consumption and rising awareness about environmental sustainability is driving the demand for chillers. Growing industrialization with the accelerating adoption of advanced technologies in HVAC systems is further expanding the usage of chillers. High initial investments owing to expensive components & installation costs associated with chillers hampers market growth. The rising development of next-generation chiller systems with higher energy efficiency ratings for compliance with evolving regulatory norms is expected to create opportunities for market growth.
Europe, the Middle East, and the African region represent a highly developing landscape for the global chillers market owing to the massive expansion of end-user industries, the majority presence of product manufacturers, and stringent government norms for industrial safety. The latest data from Eurostat indicated an 8% rise in the production of manufactured goods in 2021 compared with 2020. Additionally, the presence of various petrochemical and pharmaceutical companies is driving the usage of chillers in Europe and the Americas. Moreover, the heavy investments in industrial sectors with supportive government initiatives toward Industry 4.0 evolution have increased the demand for chillers in the Asia-Pacific region. Additionally, significant investments in research and development for improved product designs and materials and innovations in chillers are expected to create a platform for market growth in the Americas.
Market Segmentation & Coverage:
This research report categorizes the Chillers Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Type, market is studied across Centrifugal Chiller, Screw Chiller, and Scroll Chiller. The Screw Chiller is projected to witness significant market share during forecast period.
Based on Function, market is studied across Air Cooled Chiller and Water-Cooled Chiller. The Air Cooled Chiller is projected to witness significant market share during forecast period.
Based on Power Range, market is studied across 101 kW to 350 kW, 351 kW to 700 kW, Less Than 100 KW, and More than 700 kW. The Less Than 100 KW is projected to witness significant market share during forecast period.
Based on End-User, market is studied across Chemical & Petrochemicals, Food & Beverages, and Medical & Pharmaceutical. The Food & Beverages is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Asia-Pacific commanded largest market share of 37.56% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Chillers Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Chillers Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Chillers Market, highlighting leading vendors and their innovative profiles. These include A.C.M. Kälte Klima S.r.l., Aermec UK Ltd., Afinox Srl, Airedale International Air Conditioning Ltd., Applied Companies Corporation, Carrier Global Corporation, Century Corporation, Cold Shot Chillers, Daikin Industries, Ltd., Danfoss A/S, Drycool Systems India Private Limited, Flamingo Chillers, Friulair S.r.l., Geson Refrigeration Equipment CO., Ltd., Hitachi, Ltd., HYDAC International GmbH, Hyundai Climate Control.Co.ltd., Johnson Controls International PLC, Kawasaki Thermal Engineering Co., Ltd., KKT Chillers by Ait-Deutschland GmbH, LG Electronics Co., Ltd., Mitsubishi Heavy Industries, Ltd., Reynold India Private Limited, Robur SpA, Shuangliang Eco-energy Systems Co., Ltd., Thermax Limited, Tika Pro LLC, Trane Technologies Company, LLC, World Energy, and Yazaki Energy Systems, Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Chillers Market, by Type
7. Chillers Market, by Function
8. Chillers Market, by Power Range
9. Chillers Market, by End-User
10. Americas Chillers Market
11. Asia-Pacific Chillers Market
12. Europe, Middle East & Africa Chillers Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Chillers Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Chillers Market?
3. What is the competitive strategic window for opportunities in the Chillers Market?
4. What are the technology trends and regulatory frameworks in the Chillers Market?
5. What is the market share of the leading vendors in the Chillers Market?
6. What modes and strategic moves are considered suitable for entering the Chillers Market?
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