Industrial Air Chiller Market By Covid-19 Impact Analysis – Volume And Value, Revenue, Business Opportunity, Future Projections, And Key Trends- TMR

TMR

4 years ago

Industrial Air Chillers: Introduction

Industrial air chillers, also known as refrigeration systems, are used to cool a process fluid, or dehumidifies air in industrial and commercial facilities. An industrial air chiller uses either absorption cycle or a vapor compression to cool. Industrial air chillers absorb the access heat generated from industrial process water or processing liquid such as oil or glycol, and coolant water, and the heat is then transferred by air blowers into the ambient air around the chiller unit.
An industrial air chiller consists of components such as air condenser, compressor, air blower, dry filter, refrigerant, water tank, water pump, and expansion valve.
Industrial air chillers are usually used in applications excess heat needs to be removed such as in metal finishing, water jet cutting, welding, plastic processing, medical care, microbrewery, brewery, winery, hydroponics, and food processing.
The global industrial air chiller market is projected to expand at a rapid pace during the forecast period, due to increased demand for industrial air chillers from metal processing, governments, and food service industries across the world.

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Global Industrial Air Chiller Market: Dynamics

Key Drivers of the Global Industrial Air Chiller Market

Growing demand for process cooling in industrial applications is expected to fuel the global industrial air chiller market during the forecast period.
Increasing demand for improving hygiene standards in the work environment is projected to fuel the demand for industrial air chillers in the next few years.
Growing adoption of chillers in solar cooling applications is anticipated to drive the demand for industrial air chillers in the forthcoming years.
Rising demand for energy efficient cooling systems, including industrial air chillers, is a major factor anticipated to drive the global industrial air chiller market in the near future.
Increasing infrastructure spending across the world is anticipated to drive the demand for industrial air chillers in the next few years.
Growth of manufacturing and infrastructure sectors in developed as well as developing countries is a major factor expected to boost the global industrial air chiller market in the near future
Increasing advancements in technology and improvement in the efficiency of industrial air chillers are expected to propel the demand for industrial air chillers.
Rising adoption of portable industrial air chillers is anticipated to drive the industrial air chiller market across the world.
However, increasing government regulations pertaining to fluorinated greenhouse gases is expected to hamper the demand for industrial air chillers during the forecast period.
Furthermore, strict government regulations to reduce the use of plastic is another major factor hampering the demand for industrial air chillers.

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North America to Hold a Major Share of the Global Industrial Air Chiller Market

North America dominates the global industrial air chiller market, due to presence of well-established and technologically advanced manufacturers and increasing adoption of automatic industrial air chillers in the region. The U.S. is a key market for industrial air chillers in North America, due to high demand for these air chillers in the country and heavy investments across industries such as chemical & petrochemical, plastic, and food & beverage. Europe is anticipated to hold the second largest share of the global industrial air chiller market between 2019 and 2027.
The industrial air chiller market in Asia Pacific is projected to expand at a rapid pace from 2019 to 2027. This can be attributed to increasing government initiatives to improve hygiene standards in the work environment.
Increasing infrastructure spending in the region is expected to propel the market. For instance, in India, the government is planning to construct around 100 new airports.

Global Industrial Air Chiller Market: Competition Landscape

Key Players Operating in the Global Industrial Air Chiller Market

Several local, regional, and international players manufacture industrial air chillers. Hence, the global industrial air chiller market is rather fragmented and the degree of competition among these players is also high. Rapid technological advancements have led to threat of substitution in the global industrial air chiller market. Players are focused on expanding their geographical reach through mergers & acquisitions. Key players operating in the global industrial air chiller market are:

Carrier Corporation
Daikin Industries, Ltd.
Ingersoll Rand Inc.
Johnson Controls International plc
Mitsubishi Electric Corporation
Airedale Cooling Services Ltd.
Blue Star Limited
Fujitsu General Limited
Haier Group Corporation
Midea Group

Global Industrial Air Chiller Market: Research Scope

Global Industrial Air Chiller Market, by Product Type

Portable Air Cooled Chiller
Stationary Air Cooled Chiller
Closed-loop Air Chiller
Open-loop Air Chiller

Global Industrial Air Chiller Market, by Application

Die Casting
Chemicals
Pharmaceuticals
Food & Beverages
Rubber
Plastic
Medical & Pharmaceuticals
Oil & Gas
Others

Global Industrial Air Chiller Market, by Region

North America
- U.S.
- Canada
- Rest of North America
Europe
- Germany
- France
- U.K.
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
South America
- Brazil
- Rest of South America

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis

The regional analysis covers:

North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
Eastern Europe (Poland and Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market

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