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Increasing shift towards efficient energy use in industries and commercial infrastructure is expected to drive the chillers market

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Increasing shift towards efficient energy use in industries and commercial infrastructure is expected to drive the chillers market

November 28
04:00 2020
Increasing shift towards efficient energy use in industries and commercial infrastructure is expected to drive the chillers market

Browse 69 Market Data Tables and 31 Figures spread through 129 Pages and in-depth TOC on “Chillers Market”
Chillers Market by Type (Screw, Scroll, Centrifugal, Absorption, Reciprocating), End-use industry (Plastic, Chemical & Petrochemical, Rubber, Food & Beverage, Medical & Pharmaceutical), and Region

Chillers Market was approximately USD 8.80 Billion in 2016 and projected to grow at a CAGR of 4.4% during the forecast period between 2017 and 2022. The report segments the market by type into screw, scroll, centrifugal, absorption, and reciprocating chillers, and by end-use industry into chemical & petrochemical, plastic, food & beverage, medical & pharmaceutical, and rubber industry. The market is segmented by region into Asia Pacific, North America, Western Europe, Europe, South America, and Middle East & Africa. 

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Plastic the largest end-use industry for chillers

The plastic industry led the chillers market with the highest share in 2016. Chillers have been largely used for years in various cooling applications such as cooling hot plastics, which are extruded, injected, blown, or stamped. Due to the growing demand for plastic products in emerging economies, the market for chillers is further expected to grow during the forecast period.

Absorption chillers the fastest-growing type market for chillers

Absorption chillers are the fastest-growing type of chillers used globally. These are extensively used in various end-use industries for cooling applications. They offer a relatively high energy efficiency, improved performance, easy maintenance, and are compact in size. Increased government measures in efficient energy use in industries are expected to drive the demand for absorption chillers, globally.

Asia Pacific the largest market for chillers

The Asia Pacific has always been a strong market for chillers and, globally, this market has been a leader for chillers with respect to demand. This region also has the largest and fastest-growing economies in the world, which are China and India. The region has a relatively high growth rate as a result of its large market size and high economic activity as compared to the other regions. Demand in this region is boosted mainly due to the growing end-use industries for chillers.

Most active market players in the chillers market

DAIKIN INDUSTRIES, Ltd. (Japan), Carrier Corporation (US), Trane (Ireland), Johnson Controls-Hitachi Air Conditioning (Japan), Smardt Chillers Group Inc. (Canada), GEA Group (Germany), Thermax Limited (India), Dunham Bush (US), Broad Group (China), Midea Group Co. Ltd. (China), JIANGSU SHUANGLIANG ECO-ENERGY CO.LTD. (China), PolyScience (US), Climaveneta S.p.A. (Italy), Airedale Air Conditioning (UK), Bluebox (Italy), SKM Air Conditioning LLC (UAE), Thermionics Corporation (US), Thermal Care, Inc. (US), and Kaltra Innovativtechnik GmbH (Germany) are the other most active players in the chillers market.

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