Industrial Chillers Market: Introduction
- An industrial chiller is a refrigeration system that cools a process fluid or dehumidifies air in commercial and industrial facilities. A chiller either uses a vapor compression or absorption cycle to cool.
- Industrial chillers are different from chillers used for commercial purposes and in HVAC. Industrial chillers have their own independent water and refrigeration circuits, whereas HVAC chillers are not equipped with reservoirs, pumping systems, and controls.
Key Drivers of the Global Industrial Chillers Market
- Growing need for cooling equipment in various end-use industries is one of the key reasons for the growth of the industrial chillers market. Demand for industrial chillers is anticipated to increase during the forecast period due to rising number of industrial units, especially in emerging economies.
- Another growth factor for the industrial chillers market is the increasing popularity of eating processed and frozen food around the world. Rising middle class income growth coupled with rapid urbanization are key factors increasing the demand for processed and frozen food. This has ultimately led to the growth of the industrial chillers market.
Environmental issues associated with industrial chillers to hamper growth of the market
- Environment issues associated with industrial chillers is one of the key reasons hampering the growth of the industrial chillers market. Most industrial chillers emit CFC (Chlorofluorocarbons) that impacts the ozone layer. Many key global players have already taken initiatives through technological innovation to reduce the environmental impact of industrial chiller emissions. However, many small and medium sized manufacturers of industrial chillers do not follow the necessary government norms and regulations associated with emissions. This hampers the growth of the industrial chillers market.
Request A Sample Copy Of The Report
https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=75067
Mergers and Acquisitions, a Key Business Opportunity for the Industrial Chillers Market
- Mergers and acquisitions between key global manufacturers and local manufacturers is one of the major business opportunities for the growth of the industrial chillers market. Additionally, rising awareness about the need to protect the environment from the harmful effects of industrial chillers is also anticipated to offer new business opportunities for the industrial chillers market.
Asia Pacific offers growth avenues for the global industrial chillers market
- Geographically, the global industrial chillers market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
- Countries in North America and Europe boast some of the key companies specialized in industrial chillers. Presence of key industries have resulted in these regions acquiring a dominant share in the industrial chillers market.
- Asia Pacific on the other hand is one of the key markets for industrial chillers. Countries such as China, India, and many other Southeast Asian countries are some of the key manufacturing hubs where demand for industrial chillers is noticeable.
- Other regions such as South America and Middle East & Africa have strong potential growth for the industrial chillers market.
Key Players Operating in the Global Market
The global industrial chillers market is highly fragmented with presence of many key global players and many regional industrial chiller manufacturers. A few of the key players operating in the global industrial chillers market includes:
- DAIKIN INDUSTRIES, Ltd.,
- Drake Refrigeration Inc.
- Haier Electronics Group Co. Ltd.
- Ingersoll Rand (Trane)
- Johnson Controls
- LG Electronics
- Mitsubishi Corporation
- Robert Bosch GmbH
- Senho Machinery (Shenzhen) Co., Ltd.
- United Technologies Corporation
Request For Covid19 Impact Analysis
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=75067
Global Industrial Chillers Market: Research ScopeGlobal Industrial Chillers Market, by Product Type
- Air Chillers
- Water Chillers
- Evaporative Condensed Chillers
Global Industrial Chillers Market, by Functionality
- Manual
- Semi-automatic
- Fully Automatic
Global Industrial Chillers Market, by End-use Industry
- Food & Beverage Industry
- Healthcare Industry
- Chemical Industry
- Others (Plastic & Rubber Industry etc.)
Global Industrial Chillers Market, by Distribution Channel
- Online
- Offline
- Specialty Stores
- Other retail stores
Global Industrial Chillers Market, by Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
- U.S.
- Canada
- Germany
- France
- U.K.
- Italy
- Rest of Europe
- China
- Japan
- India
- Rest of Asia Pacific
- GCC
- South Africa
- Rest of Middle East & Africa
- 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 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