Chillers Market Size, Share, Growth, Global Trends, Industry Analysis and Forecast to 2027

Price: 3200/- USD | Published Date: August 8, 2020 |


The global chillers market size was valued at around USD 10 billion in 2019 and projected to grow at a significant CAGR of over 4% during the forecast period 2020 to 2027. The market growth is attributed to factors such as increasing demand for frozen food, rising industrialization, and the growing environment-friendly products. The demand for chillers is growing in the industrial sector due to cooling there equipment for better performance. Chillers play a vital role in the industrial sector to maintain temperature by manufactured products and automation equipment. Moreover, the rising concern for energy-efficiency cooling systems is also fueling the market growth over the forecast period.

The global chiller market is segmented into product, compressor type, end-use, and geography. On the basis of the product, the market is classified into water-cooled and air-cooled chillers. The water-cooled segment held the largest market share in 2019 and accounted for over 70% of the market share in terms of revenue. The water-cooled chillers are widely used due to their features such as long-life and high efficiency compared to air-cooled chillers. In addition, the air-cooled segment is accounted for the fastest-growing segment over the forecast period. The air-cooled segment growth is attributed to the easy installation on roof-top and low space requirements.

On the basis of end-use, the chiller market is divided into commercial, residential, and industrial use. The commercial segment dominated the market in 2019 and valued over 40% market share in terms of revenue. The wide of chillers in various commercial spaces like public buildings, offices, warehouses, data centers, healthcare, and educational institutes are driving the market growth. Food & beverage, plastic, baking, and pharmaceutical industries are major consumers of industrial sectors. The food & beverage sector is projected to grow at a significant CAGR over the forecast period.

The report provides both, qualitative and quantitative analyses of the market, the competitive landscape, and the preferred development strategies of key players which help to formulate competitive market strategies and make informed decisions. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.

According to Research Corridor, this study will provide in-depth analysis of segments on the basis of current trends, market dynamics and country level analysis of chillers industry. This report provides market estimates and forecast for the period 2018-2027, along with respective CAGRs for each segment and regional distribution for the period 2020-2027. In depth analysis of competitive landscape, porter's five forces model, value chain analysis, and pricing strategies are also covered in the report scope.

Historical & Forecast Period

  • 2018 - Historical Year for chillers Market
  • 2019 - Base Year for chillers Market
  • 2020-2027 - Forecast Period for chillers Market

The chillers market report offers a primary overview of the chillers industry covering different product definitions, classifications, and participants in the industry chain structure. The quantitative and qualitative analysis is provided for the global market considering competitive landscape, development trends, and key critical success factors (CSFs) prevailing in the chillers industry.

Chillers Market Segmentation:

By Product:

  • Water-Cooled
    • <50kW
    • 51-100kW
    • 101-200kW
    • 201-300kW
    • >301kW
  • Air-Cooled
    • <50kW
    • 51-100kW
    • 101-200kW
    • 201-300kW
    • >301kW

By Compressor:

  • Screw Chillers
  • Centrifugal Chillers
  • Absorption Chillers
  • Scroll Chillers
  • Reciprocating Chillers

By End-Use:

  • Commercial
  • Residential
  • Industrial

List of Key Companies:

  • DAIKIN INDUSTRIES, Ltd.
  • Carrier Corporation
  • Trane
  • Johnson Controls-Hitachi Air Conditioning
  • Smardt Chillers Group Inc.
  • GEA Group
  • Thermax Limited
  • Dunham Bush
  • Broad Group

Chillers Market Report Scope

This report provides an investigative analysis of the chillers market encapsulated in detailed sections such as

  • Research Methodology
  • Research Scope
  • Executive Market Summary: Industry Snapshot
  • Industry Outlook
  • Critical Success Factors (CSFs) for the Market
  • Market Dynamics
  • Key Opportunities
  • Market Porters Five Force Analysis
  • Market Value Chain/Ecosystem Analysis
  • Market Attractive Investment Proposition
  • Market PESTEL Analysis
  • Market Positioning of Key Vendors
  • Market Segmentation Outlook
  • Regional Outlook
  • Company Profiles of Key Vendors

Geographic Coverage

Geographically, the chillers Market report comprises dedicated sections centering on the regional market revenue and trends. The chillers market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific and Rest of the World (RoW). The RoW segment consists Latin America and the Middle East & Africa. The chillers market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance and others. chillers Market estimates have also been provided for the historical years 2017 & 2018 along with forecast for the period from 2018 - 2027.

  • North America chillers Market Revenue and Forecast
  • Europe chillers Market Revenue and Forecast
  • Asia Pacific chillers Market Revenue and Forecast
  • Latin America chillers Market Revenue and Forecast
  • Middle East and Africa chillers Market Revenue and Forecast

Key Questions Answered by Chillers Market Report

  • Market size and forecast of the chillers market for the period from 2018 to 2027
  • Compounded annual growth rate (CAGR%) for individual segments in various regional markets through 2025
  • Value chain analysis
  • Market share analysis combined with competitive landscape of key players
  • Profiles of key market players covering overall business operations, geographic presence, product portfolio, financial status and news coverage

(Reports will be updated due to COVID-19 impacts on the market)

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