HVAC Chillers Market Growing at 2.9% CAGR during 2017-2021

Global HVAC Chillers Market 2017-2021 report covers the present scenario and the growth prospects of the global market. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

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One trend in HVAC chillers market is growing number of data centers. Data centers are highly networked computer servers that store a large amount of data. The number of data centers has seen a substantial increase in the last few years and is expected to rise in the future. Increased dependency on the Internet and social media along with the advances in technology has led to increase in the number of data centers. The content of corporate data has changed. Earlier, most of the businesses monitored their data, which currently depend on a hosted environment.

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The analysts forecast global HVAC chillers market to grow at a CAGR of 2.9% during the period 2017-2021. HVAC chillers help in cooling the commercial establishments. They use either a vapor compression or absorption cycle. Absorption, reciprocating, screw, scroll, and centrifugal are the different types of chillers. Vapor-compressor chillers use hydrochlorofluorocarbons (HCFC) or chlorofluorocarbons (CFC) as refrigerants, which is sent from a compressor to a condenser unit. This transfer allows the gas to condense into a liquid, which is then sent to a metering device. The warm gas is then sent back to the compressor to start the process over again, while the chilled water is used for cooling.

According to the HVAC chillers market report, one driver in market is growing district cooling demand. Emerging countries in MEA and Asia have experienced increased demand for district cooling. District cooling is replacing the traditional air cooling methods because of increased advantages like energy-saving, low environmental damage, and reduced maintenance needs. It uses 40%-50% less energy compared with traditional cooling methods, which can save more than 70% of the electricity cost.

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Further, the report states that one challenge in market is environmental regulations and guidelines. The demand for global energy efficiency has encouraged governments worldwide to set regulations and develop energy-efficient and sustainable HVAC systems. Many Chinese vendors that offer low-cost counterfeit products are unable to comply with these regulations. Thus, the Chinese government is striving to amend the country's energy use policies related to HVAC chillers. The growing concern about limiting emissions, adverse environmental conditions, and reducing costs have affected the global HVAC chillers market.

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