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Worldwide Chiller Industry to 2030 – Inverter-controlled Chillers Presents Opportunities

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DUBLIN, Dec. 4, 2020 /PRNewswire/ — The “Chiller Market Research Report: By Type (Screw, Scroll, Centrifugal, Absorption, Reciprocating), Capacity (Water-Cooled, Air-Cooled), End-User (Commercial, Industrial, Residential) – Global Industry Analysis and Growth Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.

The global chiller market generated a revenue of $7,330.7 million in 2019 and is now predicted to attain a value of $10,880.3 million in 2030, advancing at a CAGR of 5.0% between 2020 and 2030. The key factors fueling the advancement of the market are the rising global temperature, increasing demand for cooling systems and devices from various end-use industries, and the ballooning investments being made in infrastructure development in several countries around the world.

The rise in global temperatures is a major factor propelling the expansion of the market. Because of the surging emission of greenhouse gases (GHG) such as nitrous oxides, carbon dioxide, and methane into the atmosphere, the average temperature across the world is rising at an alarming rate. The burning of fossil fuels such as natural gas and coal for energy generation and running vehicles is one of the biggest factors responsible for the soaring emission levels.

According to many reports and studies, the average global temperature in 2019 was 2.31 F (1.28 C) higher than in the late 19th century, which was the period between 1850 – 1900. With the rise in temperatures, the requirement for cooling systems is shooting-up, which is, in turn, fueling the surge in the sales of chillers all over the world. Besides this, the thriving construction sector is also driving the progress of the chiller market.

According to studies, the global construction industry is predicted to grow, in valuation, from $10.5 trillion to $12.8 trillion from 2017 to 2022, on account of the soaring development of residential buildings, offices, and manufacturing plants and the launch of massive metro rail and airport construction projects in many countries around the world. For example, Chicago had as many as 42 under-construction projects in 2019, whereas, in London, there were 115 under-construction high-rise buildings in 2018.

Similarly, in India, the government is planning to construct 100 airports over the next 15 years and in China, there are plans to build 136 airports by 2025. As chillers are extensively used in all these places, the completion of these infrastructural development projects will massively push-up the sales of chillers in the coming years. Furthermore, chillers are heavily deployed in factories and as a result, the development of manufacturing plants is boosting the global demand for chillers.

When type is taken into consideration, the chiller market is divided into screw, scroll, centrifugal, absorption, and reciprocating chillers. Out of these, the centrifugal category will exhibit the highest CAGR in the market in the future years. This would be because of the mushrooming requirement for industrial-grade chillers all over the globe. There are mainly two types of centrifugal chillers used in industries – water-cooled and air-cooled. Between them, the sales of air-cooled chillers will rise rapidly in the near future.

Geographically, the Asia-Pacific (APAC) chiller market would be very lucrative in the upcoming years, as per the estimates the publisher. This would be because of the skyrocketing sales of chillers in China, on account of the booming construction sector in the country, especially in Shanghai and Wuhan. Moreover, the country intends to lay down 4,225 miles (6,800 km) of railway lines in the coming years.

Key Topics Covered:

Chapter 1. Research Background

Chapter 2. Research Methodology

Chapter 3. Executive Summary

Chapter 4. Introduction
4.1 Definition of Market Segments
4.1.1 By Type
4.1.1.1 Screw
4.1.1.1.1 Water-cooled
4.1.1.1.2 Air-cooled
4.1.1.2 Centrifugal
4.1.1.3 Scroll
4.1.1.4 Absorption
4.1.1.4.1 Direct-fired
4.1.1.4.2 Hot water
4.1.1.4.3 Steam
4.1.1.5 Reciprocating
4.1.2 By Capacity
4.1.2.1 Water-cooled
4.1.2.1.1 Less than 500 T
4.1.2.1.2 500 T – 1,000 T
4.1.2.1.3 1,001 T – 2,000 T
4.1.2.1.4 Above 2,000 T
4.1.2.2 Air-cooled
4.1.2.2.1 Less than 150 T
4.1.2.2.2 150 T-300 T
4.1.2.2.3 301 T-500 T
4.1.2.2.4 Above 500T
4.1.3 By End-User
4.1.3.1 Commercial
4.1.3.1.1 Hospitality
4.1.3.1.2 Transportation
4.1.3.1.3 Offices and buildings
4.1.3.1.4 Healthcare
4.1.3.1.5 Supermarket/Hypermarket
4.1.3.1.6 Government
4.1.3.1.7 Others
4.1.3.2 Industrial
4.1.3.2.1 Oil and gas
4.1.3.2.2 Food & beverage
4.1.3.2.3 Energy and utilities
4.1.3.2.4 Pharmaceutical
4.1.3.2.5 Automotive
4.1.3.2.6 Others
4.1.3.3 Residential
4.2 Value Chain Analysis
4.3 Market Dynamics
4.3.1 Trends
4.3.1.1 Growing popularity of smart, connected devices
4.3.1.2 Increasing adoption of R32 chillers
4.3.1.3 Rising preference for absorption chillers
4.3.2 Drivers
4.3.2.1 Rising global temperature
4.3.2.2 Increasing number of construction projects
4.3.2.3 Surging requirement for cooling equipment in industrial applications
4.3.2.4 Impact analysis of drivers on market forecast
4.3.3 Restraint
4.3.3.1 Rising penetration of variable refrigerant flow (VRF) systems
4.3.3.2 Impact analysis of restraints on market forecast
4.3.4 Opportunities
4.3.4.1 Inverter-controlled chillers
4.3.4.2 Major upcoming sports events
4.4 Impact of COVID-19 on Global Chiller Market
4.4.1 Current scenario
4.4.2 COVID-19 scenario
4.4.3 Future scenario
4.5 Porter’s Five Forces Analysis

Chapter 5. Global Market Size and Forecast
5.1 By Type
5.1.1 Screw Chiller, by Type
5.1.1.1 Water-cooled screw chiller, by capacity
5.1.1.2 Air-cooled screw chiller, by capacity
5.1.2 Scroll Chiller, by Type
5.1.2.1 Water-cooled scroll chiller, by capacity
5.1.2.2 Air-cooled scroll chiller, by capacity
5.1.3 Centrifugal Chiller, by Type
5.1.3.1 Water-cooled centrifugal chiller, by capacity
5.1.3.2 Air-cooled centrifugal chiller, by capacity
5.1.4 Reciprocating Chiller, by Type
5.1.4.1 Water-cooled reciprocating chiller, by capacity
5.1.4.2 Air-cooled reciprocating chiller, by capacity
5.1.5 Absorption Chiller
5.1.5.1 Absorption chiller, by type
5.1.5.2 Absorption chiller, by capacity
5.2 By End-User
5.2.1 Commercial Chiller Market, by Application
5.2.2 Industrial Chiller Market, by Application
5.3 By Region

Chapter 6. North America Market Size and Forecast
6.1 By Type
6.2 By End-User
6.3 By Country

Chapter 7. Europe Market Size and Forecast
7.1 By Type
7.2 By End-User
7.3 By Country

Chapter 8. APAC Market Size and Forecast
8.1 By Type
8.2 By End-User
8.3 By Country

Chapter 9. LATAM Market Size and Forecast
9.1 By Type
9.2 By End-User
9.3 By Country

Chapter 10. MEA Market Size and Forecast
10.1 By Type
10.2 By End-User
10.3 By Country

Chapter 11. Competitive Landscape
11.1 List of Players and Their Offerings
11.2 Ranking Analysis of Key Players
11.3 Comparison of Key Players
11.4 Recent Activities of Key Players
11.5 Strategic Developments of Key Players
11.5.1 Mergers & Acquisitions
11.5.2 Product Launches
11.5.3 Facility Expansions

Chapter 12. Company Profiles
12.1 Johnson Controls International PLC
12.1.1 Business Overview
12.1.2 Product and Service Offerings
12.1.3 Key Financial Summary
12.2 Trane Technologies plc
12.2.1 Business Overview
12.2.2 Product and Service Offerings
12.2.3 Key Financial Summary
12.3 Carrier Global Corporation
12.3.1 Business Overview
12.3.2 Product and Service Offerings
12.3.3 Key Financial Summary
12.4 Daikin Industries Ltd.
12.4.1 Business Overview
12.4.2 Product and Service Offerings
12.4.3 Key Financial Summary
12.5 S.K.M Air Conditioning LLC
12.5.1 Business Overview
12.5.2 Product and Service Offerings
12.6 Petra Engineering Industries Co.
12.6.1 Business Overview
12.6.2 Product and Service Offerings
12.7 Gree Electric Appliances Inc. of Zhuhai
12.7.1 Business Overview
12.7.2 Product and Service Offerings
12.8 Mitsubishi Electric Corporation
12.8.1 Business Overview
12.8.2 Product and Service Offerings
12.8.3 Key Financial Summary
12.9 Thermax Limited
12.9.1 Business Overview
12.9.2 Product and Service Offerings
12.9.3 Key Financial Summary
12.1 Danfoss A/S
12.10.1 Business Overview
12.10.2 Product and Service Offerings
12.10.3 Key Financial Summary
12.11 Zamil Air Conditioners
12.11.1 Business Overview
12.11.2 Product and Service Offerings

Chapter 13. Appendix
13.1 Abbreviations
13.2 Sources and References
13.3 Related Reports

For more information about this report visit https://www.researchandmarkets.com/r/hzkw6n

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