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Chillers Market to Reach $12.67 Bn, Globally, by 2028 at 3.7% CAGR: Allied Market Research

Finanznachrichten News

- Growth in the construction industry and rise in demand for chillers in the medical sector drive the growth of the global chillers market

PORTLAND, Ore., July 7, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Chillers Market by Type (Screw Chiller, Scroll Chiller, Centrifugal Chiller, and Others), Product Type (Air Cooled Chiller and Water-Cooled Chiller), Power Range (50 Kw, 50-200 Kw, and More Than 200 Kw), and End User (Chemical and Petrochemicals, Food and Beverages, Medical, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2028." According to the report, the global chillers industry was estimated at $10.04 billion in 2019, and is expected to hit $12.67 billion by 2028, registering a CAGR of 3.7% from 2021 to 2028.

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Drivers, restraints, and opportunities-

Growth in the construction industry, rise in demand for chillers in the medical sector, and surge in consumption of frozen foods among individuals drive the growth of the global chillers market. On the other hand, rise in demand for VRF systems, high initial investment and setup costs, and fluctuations in raw material prices restrain the growth. However, technological advancements are expected to pave the way for new opportunities in the future.

Download Sample PDF: https://www.alliedmarketresearch.com/request-sample/1834

COVID-19 scenario-

  • The outbreak of the pandemic gave way to delays in production and manufacturing of chillers across the globe, thus affecting the global chillers market.
  • Most industrial divisions were shut down and it caused a steep decline in demand for chillers. Nevertheless, the rollout of mass vaccination by several government bodies is expected to mend up the global situation and market is expected to get back on track soon.

The screw chiller segment to retain its dominance by 2028-

By type, the screw chiller segment accounted for nearly half of the total market share in 2019, and is anticipated to rule the roost by 2028, due to increased preference for district cooling systems in many industries and commercial buildings. The centrifugal chiller segment, on the other hand, would register the fastest CAGR of 6.9% throughout the forecast period. The growth in industrial and commercial sectors in economies such as South Korea, UK, Japan and others, has led to the use of HVAC systems to maintain the temperature of the buildings. This factor drives the growth of the segment.

The water cooled chiller segment to rule the roost-

By product type, the water cooled chiller segment garnered nearly three-fifths of the total market revenue in 2019, and is expected to dominate by 2028, owing to rise in demand for low condensing chillers and water-cooled chillers. The air cooled chiller segment, however, would grow at the fastest CAGR of 4.0% during the forecast period, due to increased preference for district cooling systems in many industries and commercial buildings.

Get detailed COVID-19 impact analysis on the Chillers Market: https://www.alliedmarketresearch.com/request-for-customization/1834

North America had the major share in 2019 -

By region, North America generated the major share in 2019, holding nearly half of the global market. Simultaneously, the market across Asia-Pacific would garner the fastest CAGR of 4.8% from 2021 to 2028. This is due to increase in industrialization and rapid urbanization in countries such as China, India, Vietnam, and Indonesia.

Key players in the industry-

  • Mitsubishi Electric Corporation
  • Carrier Global Corporation
  • Daikin Industries Ltd
  • LG Electronics
  • Dimplex Thermal Solutions
  • Trane Technologies Plc.
  • Thermax Ltd
  • Johnson Controls International Plc
  • Gree Electric Appliances Inc of Zhuhai
  • Midea Group Co. Ltd

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Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

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Similar Reports We Have:

APAC Chiller Market - The APAC chillers is anticipated to reach $7,426.0 million by 2027, registered a CAGR of 5.4% from 2020 to 2027

Industrial Refrigeration Market - The industrial refrigeration market is expected to reach $29,193.9 million by 2028, registering a CAGR of 5.4% from 2021 to 2028.

HVAC Control Market - global HVAC control is projected to reach $19,939.4 million by 2027, registering a CAGR of 5.7% from 2020 to 2027.

Air Compressor Market - Global Air Compressor Market size is expected to reach $26,850.35 million in 2023, growing at a CAGR of 4.47% from 2017 to 2023.

Smart Cooling Systems Market - Global smart cooling system market is projected to reach $137,548 million by 2022, with a CAGR of 52.4 % from 2016 to 2022.

HVAC filters market - global HVAC filters market is expected to reach $11,061.0 million in 2028, growing at a CAGR of 7.7% from 2021 to 2028.

Pre-Book Now with 10% Discount:

Refrigerant Compressors Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

Scroll Compressor Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

Water Chillers Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

HVAC Air Quality Monitoring Market - Global Opportunity Analysis and Industry Forecast, 2020-2028

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
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Hong Kong: +852-301-84916
India (Pune): +91-20-66346060

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