Press release
Industrial Chillers Market to be Worth $16.5 Billion by 2031
Meticulous Research®, a leading global market research company, has published a report titled "Industrial Chillers Market-Global Opportunity Analysis and Industry Forecast (2024-2031)." According to this report, the global industrial chillers market is projected to reach $16.5 billion by 2031, growing at a compound annual growth rate (CAGR) of 4.4% from 2024 to 2031.Download Free Sample report here: https://www.meticulousresearch.com/download-sample-report/cp_id=6015
The primary drivers of the industrial chillers market include the rising demand for water-cooled chillers, an increased adoption of modular chillers, and the growing utilization of process cooling across industrial sectors. However, the high setup costs of industrial chillers are expected to limit market growth.
Despite these challenges, the market presents potential growth opportunities, particularly in the chemicals and petrochemicals industries, which are witnessing increased demand for chillers. Additionally, the growing need for absorption chillers is anticipated to create further opportunities for market players. However, the high maintenance costs associated with industrial chillers remain a significant challenge for market growth.
Market Segmentation
The industrial chillers market is segmented by cooling type, compressor type, capacity, and end user. The report provides an analysis of market competitors and examines market performance across various regions and countries.
Cooling Type
In 2024, the water-cooled chillers segment is expected to lead the market, accounting for over 56.0% of the market share. This growth is driven by the increasing focus on energy-efficient systems, the growing use of water-cooled chillers in chemical plants and manufacturing facilities, and the rising need for reliable water-cooling solutions in industrial operations.
Browse in depth: https://www.meticulousresearch.com/product/industrial-chillers-market-6015
Compressor Type
The scroll chillers segment is forecasted to dominate the market in 2024, with a share exceeding 58.3%. This segment's growth can be attributed to the widespread adoption of scroll chillers in sectors such as manufacturing, food processing, and chemicals, where precise temperature control and reliable cooling systems are essential.
Capacity
In terms of capacity, the
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