Chillers Market by Type (Screw, Scroll, Centrifugal, Absorption, Reciprocating), End-use industry (Plastic, Chemical & Petrochemical, Rubber, Food & Beverage, Medical & Pharmaceutical), and Region - Global Forecast to 2026
The chillers market is estimated to be USD 4.1 billion in 2021 and is projected to reach USD 4.8 billion by 2026, at a CAGR of 3.0%. This growth is attributed to the advantages and benefits of chillers. Also, the demand for chillers is driven by growth in the number of construction projects. However, the high initial setup cost is hindering the growth of the chillers market. In addition, the regulations penetrating to fluorinated greenhouse gases is expected to be a major challenge for chillers market during the forecast period.
“The chemical & petrochemical segment accounted for the largest market share.”
Typical applications of chillers in the chemical industry include cooling of acids and caustic solutions; cooling of extremely viscous products; condensation and tempering of solvents; cooling of water circuits, steam, and multiple material mixtures, and condensation of exhaust vapors. Whereas, chillers are widely used in petrochemicals applications such as production of plastics, alcohol, olefins, aromatics, detergents, and varnishes. The thermal effectiveness of energy-intensive processes is crucial to the petrochemicals industry; therefore, highly energy efficient chillers are used in applications such as condensing, cooling, and evaporation. Thus, the demand for chillers in chemicals & petrochemicals end-use industry is projected to grow during the forecast period.
“APAC is the largest and fastest-growing chillers market.”
In 2020, APAC was estimated to account for the largest share of the chillers market, owing to the rapid increase in infrastructural projects, growing population, and expanding urban cities. China accounted for the largest share of the APAC market, owing to the presence of HVAC industries and rapid growth in the end-use industries by transforming suburban cities into urban cities. Moreover, in the past few years APAC countries registered an annual growth of more than 17.0% year-on-year. This scenario in the region is favorable for the growth of the chillers market during the forecast period.
“Chillers market slow down its growth in 2020.”
The chillers market in 2020 experienced slow growth in terms of volume, compared to 2019 due to the COVID-19 pandemic. The chemicals & petrochemicals industry is a significant consumer of chillers. The effect of COVID-19 on the chemicals industry led to declining sales and the layoff of employees. The projects were halted due to disruption in the supply chain. With the declining production, the demand for chillers also decreased.
Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the chillers market gathered through secondary research.
The breakdown of primary interviews has been given below.
Research Coverage
This report covers the modular chillers market and forecasts its market size until 3036. The market has been segmented based on type, capacity, end-use industry, and region. The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market. The report also provides insights into the driving and restraining factors in the chillers market, along with opportunities and challenges across these industries. It also includes profiles for top manufacturers in the market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the chillers market and provides the closest approximations of overall market size for its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses.
4. The competitive landscape section includes detailed information on strategies, such as joint venture, new product launch, acquisition, and expansion.
“The chemical & petrochemical segment accounted for the largest market share.”
Typical applications of chillers in the chemical industry include cooling of acids and caustic solutions; cooling of extremely viscous products; condensation and tempering of solvents; cooling of water circuits, steam, and multiple material mixtures, and condensation of exhaust vapors. Whereas, chillers are widely used in petrochemicals applications such as production of plastics, alcohol, olefins, aromatics, detergents, and varnishes. The thermal effectiveness of energy-intensive processes is crucial to the petrochemicals industry; therefore, highly energy efficient chillers are used in applications such as condensing, cooling, and evaporation. Thus, the demand for chillers in chemicals & petrochemicals end-use industry is projected to grow during the forecast period.
“APAC is the largest and fastest-growing chillers market.”
In 2020, APAC was estimated to account for the largest share of the chillers market, owing to the rapid increase in infrastructural projects, growing population, and expanding urban cities. China accounted for the largest share of the APAC market, owing to the presence of HVAC industries and rapid growth in the end-use industries by transforming suburban cities into urban cities. Moreover, in the past few years APAC countries registered an annual growth of more than 17.0% year-on-year. This scenario in the region is favorable for the growth of the chillers market during the forecast period.
“Chillers market slow down its growth in 2020.”
The chillers market in 2020 experienced slow growth in terms of volume, compared to 2019 due to the COVID-19 pandemic. The chemicals & petrochemicals industry is a significant consumer of chillers. The effect of COVID-19 on the chemicals industry led to declining sales and the layoff of employees. The projects were halted due to disruption in the supply chain. With the declining production, the demand for chillers also decreased.
Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the chillers market gathered through secondary research.
The breakdown of primary interviews has been given below.
- By Company Type: Tier 1 – 25%, Tier 2 – 42%, and Tier 3 – 33%
- By Designation: C Level Executives – 20%, Director Level – 30%, Others – 50%
- By Region: APAC – 20%, Europe – 10% North America – 40%, RoW– 30%
Research Coverage
This report covers the modular chillers market and forecasts its market size until 3036. The market has been segmented based on type, capacity, end-use industry, and region. The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market. The report also provides insights into the driving and restraining factors in the chillers market, along with opportunities and challenges across these industries. It also includes profiles for top manufacturers in the market.
Reasons to Buy the Report
The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the chillers market and provides the closest approximations of overall market size for its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses.
4. The competitive landscape section includes detailed information on strategies, such as joint venture, new product launch, acquisition, and expansion.
1 INTRODUCTION
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
FIGURE 1 CHILLERS MARKET SEGMENTATION
1.2.1 REGIONS COVERED
1.2.2 YEARS CONSIDERED FOR THE STUDY
1.3 CURRENCY
1.4 UNIT CONSIDERED
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 CHILLERS MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of major secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of primary interviews
2.1.3 PRIMARIES
2.1.3.1 Chiller Companies
2.1.3.2 Key industry insights
2.2 MARKET SIZE ESTIMATION
FIGURE 3 CHILLERS MARKET SIZE ESTIMATION
2.2.1 TOP-DOWN APPROACH
2.2.1.1 Approach for arriving at the market size using top-down analysis
FIGURE 4 TOP-DOWN APPROACH
2.2.2 BOTTOM-UP APPROACH
2.2.2.1 Approach for arriving at the market size using bottom-up analysis
FIGURE 5 BOTTOM-UP APPROACH
FIGURE 6 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH (DEMAND SIDE)
FIGURE 7 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH (SUPPLY SIDE)
2.3 DATA TRIANGULATION
FIGURE 8 CHILLERS MARKET: DATA TRIANGULATION
2.4 ASSUMPTIONS
2.5 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
FIGURE 9 SCROLL SEGMENT TO LEAD THE MARKET BY 2026
FIGURE 10 LESS THAN 17.5 KW CAPACITY TO BE THE LARGEST SEGMENT OF CHILLERS MARKET DURING THE FORECAST PERIOD
FIGURE 11 ALTERNATIVE ENERGY TO REGISTER THE HIGHEST CAGR
FIGURE 12 APAC TO LEAD THE CHILLERS MARKET BETWEEN 2021 AND 2026
4 PREMIUM INSIGHTS
4.1 EMERGING ECONOMIES TO WITNESS A RELATIVELY HIGHER DEMAND FOR CHILLERS
FIGURE 13 EMERGING ECONOMIES TO OFFER ATTRACTIVE OPPORTUNITIES IN THE CHILLERS MARKET DURING THE FORECAST PERIOD
4.2 APAC: CHILLERS MARKET, BY END-USE INDUSTRY AND COUNTRY
FIGURE 14 CHINA WAS THE LARGEST MARKET FOR CHILLERS IN APAC IN 2020
4.3 CHILLERS MARKET, BY TYPE
FIGURE 15 SCROLL TYPE OF CHILLER SEGMENT TO LEAD THE CHILLERS MARKET DURING THE FORECAST PERIOD
4.4 CHILLERS MARKET, BY CAPACITY
FIGURE 16 LESS THAN 17.5 KW CAPACITY OF CHILLER TO WITNESS THE HIGHEST DEMAND IN THE CHILLERS MARKET
4.5 CHILLERS MARKET, BY END-USE INDUSTRY
FIGURE 17 ALTERNATIVE ENERGY TO BE THE LARGEST END-USE INDUSTRY FOR THE GLOBAL CHILLERS MARKET BY 2026
4.6 CHILLERS MARKET, BY COUNTRY
FIGURE 18 THE CHILLERS MARKET IN INDIA TO GROW AT THE HIGHEST CAGR FROM 2021 TO 2026
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 19 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE CHILLERS MARKET
5.2.1 DRIVERS
5.2.1.1 Growing demand for process cooling in industrial applications
5.2.1.2 Space cooling is a key factor for growth in demand for chillers
5.2.1.3 Rising demand for chillers from developing markets of APAC
5.2.1.4 Growing usage of chillers in solar cooling applications
5.2.1.5 Growing demand for modular chillers
5.2.1.6 Significant growth in the number of data centers and their power density
TABLE 1 COUNTRY MAPPING OF DATA CENTERS
5.2.1.7 Demand for chillers from the aviation and infrastructure industries
5.2.2 RESTRAINTS
5.2.2.1 Slow growth of the chillers market in Europe and North America
5.2.2.2 High setup cost of industrial chillers
5.2.3 OPPORTUNITIES
5.2.3.1 Emerging demand for absorption chillers
5.2.3.2 Growing industrial applications
5.2.3.3 Rising global temperatures and heat islands
5.2.3.4 Emerging opportunities for manufacturers to produce eco-friendly chillers
5.2.4 CHALLENGES
5.2.4.1 Regulations pertaining to fluorinated greenhouse gases
5.3 PORTER’S FIVE FORCES ANALYSIS
FIGURE 20 PORTER’S FIVE FORCES ANALYSIS: CHILLERS MARKET
5.3.1 THREAT OF NEW ENTRANTS
5.3.2 THREAT OF SUBSTITUTES
5.3.3 BARGAINING POWER OF BUYERS
5.3.4 BARGAINING POWER OF SUPPLIERS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 VALUE CHAIN ANALYSIS
FIGURE 21 CHILLERS MARKET: VALUE CHAIN ANALYSIS
5.5 ECOSYSTEM MAPPING
5.6 TECHNOLOGY ANALYSIS
5.6.1 OIL-FREE MAGNETIC-BEARING TECHNOLOGY TO REDUCE ENERGY CONSUMPTION IN CHILLERS
5.6.2 ENERGY MONITORING SYSTEM (EMOS) IN CHILLER SYSTEMS
5.6.3 INTERNET OF THINGS (IOT), BIG DATA ANALYTICS, AND ARTIFICIAL INTELLIGENCE (AI) FOR ADVANCE CHILLER MANAGEMENT SYSTEM
5.7 TRADE ANALYSIS
5.7.1 IMPORT-EXPORT SCENARIO OF CHILLERS MARKET
TABLE 2 IMPORT TRADE DATA FOR REFRIGERATORS, FREEZERS, AND CHILLERS FOR SELECTED COUNTRIES, 2019 VS. 2020 (USD MILLION)
TABLE 3 EXPORT TRADE DATA FOR REFRIGERATORS, FREEZERS, AND CHILLERS FOR SELECTED COUNTRIES, 2019 VS. 2020
5.8 PRICING ANALYSIS
TABLE 4 GLOBAL AVERAGE PRICES OF CHILLERS, BY CAPACITY (USD/UNIT)
5.9 TARIFF POLICIES & REGULATIONS
5.9.1 NORTH AMERICA
5.9.2 EUROPE
5.9.3 APAC
5.9.4 THE KIGALI AMENDMENT TO THE MONTREAL PROTOCOL
5.10 COVID-19 IMPACT ON HVAC & CHILLERS MARKET
5.11 CHILLERS PATENT ANALYSIS
5.11.1 INTRODUCTION
5.11.2 METHODOLOGY
5.11.2.1 Document Type
FIGURE 22 PUBLICATION TRENDS - LAST 10 YEARS
5.11.3 INSIGHT
5.11.4 LEGAL STATUS OF THE PATENTS
5.11.5 JURISDICTION ANALYSIS
5.11.6 TOP COMPANIES/APPLICANTS
5.11.7 LIST OF PATENTS BY MITSUBISHI HEAVY IND LTD.
5.11.8 LIST OF PATENTS
6 CHILLERS CHILLING MEDIUM
6.1 FLUOROCARBON
6.1.1 CHLOROFLUOROCARBON
6.1.2 HYDROFLUOROCARBON
6.2 INORGANIC COMPOUNDS
6.3 AMMONIA
6.4 FREON
7 CHILLERS MARKET, BY CAPACITY RANGE
7.1 INTRODUCTION
FIGURE 23 CHILLERS MARKET, BY CAPACITY RANGE
TABLE 5 CHILLERS MARKET SIZE, BY CAPACITY RANGE, 2019–2026 (USD MILLION)
TABLE 6 CHILLERS MARKET SIZE, BY CAPACITY RANGE, 2019–2026 (UNITS)
8 CHILLERS MARKET, BY TYPE
8.1 INTRODUCTION
FIGURE 24 CHILLERS MARKET, BY TYPE
FIGURE 25 SCROLL CHILLERS ACCOUNT FOR THE LARGEST MARKET SIZE
TABLE 7 CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 8 CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
8.2 SCROLL CHILLERS
8.2.1 WATER-COOLED SCROLL CHILLERS
8.2.2 AIR-COOLED SCROLL CHILLERS
8.3 SCREW CHILLERS
8.3.1 WATER-COOLED SCREW CHILLERS
8.3.2 AIR-COOLED SCREW CHILLERS
8.4 CENTRIFUGAL CHILLERS
8.4.1 CENTRIFUGAL WATER-COOLED CHILLERS
8.4.2 CENTRIFUGAL AIR-COOLED CHILLERS
8.5 RECIPROCATING CHILLERS
8.5.1 WATER-COOLED RECIPROCATING CHILLERS
8.5.2 AIR-COOLED RECIPROCATING CHILLERS
8.6 ABSORPTION CHILLERS
8.6.1 STEAM ABSORPTION CHILLERS
8.6.2 HOT WATER ABSORPTION CHILLERS
8.6.3 DIRECT FIRED ABSORPTION CHILLERS
9 CHILLERS MARKET, BY END-USE INDUSTRY
9.1 INTRODUCTION
FIGURE 26 CHEMICALS & PETROCHEMICALS TO BE THE FASTEST-GROWING END-USE INDUSTRY IN THE CHILLERS MARKET
TABLE 9 CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 10 CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
9.2 PLASTICS
9.3 FOOD & BEVERAGE
9.4 CHEMICALS & PETROCHEMICALS
9.5 RUBBER
9.6 MEDICAL & PHARMACEUTICAL
9.7 PRINTING
9.8 LASER CUTTING
9.9 ALTERNATIVE ENERGY
9.10 OTHERS
10 CHILLERS MARKET, BY REGION
10.1 INTRODUCTION
FIGURE 27 INDIA, CHINA, AND THAILAND ARE THE EMERGING MARKETS FOR CHILLERS
TABLE 11 CHILLERS MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
TABLE 12 CHILLERS MARKET SIZE, BY REGION, 2019–2026 (UNITS)
10.2 NORTH AMERICA
TABLE 13 NORTH AMERICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 14 NORTH AMERICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (UNITS)
TABLE 15 NORTH AMERICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 16 NORTH AMERICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
TABLE 17 NORTH AMERICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 18 NORTH AMERICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
10.2.1 US
10.2.1.1 The US to dominate the chillers market during the forecast period
TABLE 19 US: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 20 US: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.2.2 CANADA
10.2.2.1 Diversified downstream sector boosting the market
TABLE 21 CANADA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 22 CANADA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.2.3 MEXICO
10.2.3.1 Government initiatives to favor market growth
TABLE 23 MEXICO: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 24 MEXICO: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3 APAC
FIGURE 28 APAC: CHILLERS MARKET SNAPSHOT
TABLE 25 APAC: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 26 APAC: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (UNITS)
TABLE 27 APAC: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 28 APAC: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
TABLE 29 APAC: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 30 APAC: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
10.3.1 CHINA
10.3.1.1 China’s dominant position is attributed to the presence of huge manufacturing base
TABLE 31 CHINA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 32 CHINA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3.2 JAPAN
10.3.2.1 Presence of leading chiller manufacturers to support market growth
TABLE 33 JAPAN: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 34 JAPAN: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3.3 INDIA
10.3.3.1 Government initiatives and climatic factors to drive the market
TABLE 35 INDIA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 36 INDIA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3.4 SOUTH KOREA
10.3.4.1 High temperatures and heat waves in the country increase the demand for chillers
TABLE 37 SOUTH KOREA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 38 SOUTH KOREA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3.5 THAILAND
10.3.5.1 Investments across end-use industries to propel the market
TABLE 39 THAILAND: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 40 THAILAND: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3.6 REST OF APAC
TABLE 41 REST OF APAC: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 42 REST OF APAC: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4 EUROPE
TABLE 43 EUROPE: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 44 EUROPE: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (UNITS)
TABLE 45 EUROPE: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 46 EUROPE: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
TABLE 47 EUROPE: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 48 EUROPE: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
10.4.1 GERMANY
10.4.1.1 Constant innovations in chemical and petrochemical industries
TABLE 49 GERMANY: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 50 GERMANY: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.2 FRANCE
10.4.2.1 Investments in construction industry and transition toward clean economy to influence the industrial insulation market growth
TABLE 51 FRANCE: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 52 FRANCE: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.3 UK
10.4.3.1 Growing demand from the automotive industry to boost market growth in the UK
TABLE 53 UK: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 54 UK: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.4 ITALY
10.4.4.1 Demand from automotive and manufacturing industries to favor market growth
TABLE 55 ITALY: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 56 ITALY: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.5 RUSSIA
10.4.5.1 Industrial development to boost the demand for chillers
TABLE 57 RUSSIA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 58 RUSSIA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.6 TURKEY
10.4.6.1 Urbanization and industrialization trends to drive the market in the country
TABLE 59 TURKEY: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 60 TURKEY: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.7 REST OF EUROPE
TABLE 61 REST OF EUROPE: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 62 REST OF EUROPE: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.5 MIDDLE EAST & AFRICA
TABLE 63 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 64 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (UNITS)
TABLE 65 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 66 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
TABLE 67 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 68 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
10.5.1 SAUDI ARABIA
10.5.1.1 Saudi’s industrial sector to contribute to significant rise in demand for chillers
TABLE 69 SAUDI ARABIA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 70 SAUDI ARABIA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.5.2 UAE
10.5.2.1 Hot weather increases the demand for chillers in the UAE
TABLE 71 UAE: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 72 UAE: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.5.3 QATAR
10.5.3.1 Increasing use of chillers in industrial & commercial applications to boost the market
TABLE 73 QATAR: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 74 QATAR: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.5.4 SOUTH AFRICA
10.5.4.1 Developments in the automotive sector to drive market growth
TABLE 75 SOUTH AFRICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 76 SOUTH AFRICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.5.5 REST OF MIDDLE EAST & AFRICA
TABLE 77 REST OF MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 78 REST OF MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.6 SOUTH AMERICA
TABLE 79 SOUTH AMERICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 80 SOUTH AMERICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (UNITS)
TABLE 81 SOUTH AMERICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 82 SOUTH AMERICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
TABLE 83 SOUTH AMERICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 84 SOUTH AMERICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
10.6.1 BRAZIL
10.6.1.1 Growing investments across end-use industries to drive the market
TABLE 85 BRAZIL: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 86 BRAZIL: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.6.2 ARGENTINA
10.6.2.1 Increasing adoption of chillers in the country to drive the market demand
TABLE 87 ARGENTINA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 88 ARGENTINA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.6.3 REST OF SOUTH AMERICA
TABLE 89 REST OF SOUTH AMERICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 90 REST OF SOUTH AMERICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
FIGURE 29 NEW PRODUCT LAUNCH IS A KEY STRATEGY ADOPTED BY MARKET PLAYERS BETWEEN 2017 AND 2021
11.2 RANKING ANALYSIS OF KEY MARKET PLAYERS, 2021
FIGURE 30 RANKING ANALYSIS OF TOP FIVE PLAYERS IN CHILLERS MARKET, 2020
11.3 COMPANY PRODUCT FOOTPRINT
TABLE 91 COMPANY PRODUCT TYPE FOOTPRINT
TABLE 92 COMPANY END-USE INDUSTRY FOOTPRINT
TABLE 93 COMPANY REGION FOOTPRINT
11.4 MARKET SHARE ANALYSIS
FIGURE 31 MARKET SHARE OF KEY PLAYERS, 2020
TABLE 94 STRATEGIC POSITIONING OF KEY PLAYERS
11.5 COMPANY EVALUATION MATRIX
11.5.1 STAR
11.5.2 PERVASIVE
11.5.3 PARTICIPANTS
11.5.4 EMERGING LEADERS
FIGURE 32 CHILLERS MARKET: COMPANY EVALUATION MATRIX, 2020
11.6 STARTUPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX
11.6.1 RESPONSIVE COMPANIES
11.6.2 DYNAMIC COMPANIES
11.6.3 STARTING BLOCKS
11.6.4 PROGRESSIVE COMPANIES
FIGURE 33 STARTUPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX, 2020
11.7 MARKET EVALUATION FRAMEWORK
FIGURE 34 MARKET EVALUATION FRAMEWORK: MARKET EXPANSION AND CONSOLIDATION
11.8 COMPETITIVE SCENARIO
11.9 REVENUE ANALYSIS OF TOP PLAYERS
TABLE 95 REVENUE ANALYSIS OF KEY PLAYERS
12 COMPANY PROFILES
(Business overview, Impact of COVID-19 on business unit, Products offered, Recent developments, MnM view, Key strengths/right to win, Strategic choices made, and Weaknesses and competitive threats)*
12.1 DAIKIN INDUSTRIES, LTD.
TABLE 96 DAIKIN INDUSTRIES, LTD.: BUSINESS OVERVIEW
FIGURE 35 DAIKIN INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 97 DAIKIN INDUSTRIES, LTD.: DEALS
TABLE 98 DAIKIN INDUSTRIES, LTD.: OTHERS
12.2 CARRIER CORPORATION
TABLE 99 CARRIER CORPORATION: BUSINESS OVERVIEW
FIGURE 36 CARRIER CORPORATION: COMPANY SNAPSHOT
TABLE 100 CARRIER CORPORATION: DEALS
TABLE 101 CARRIER CORPORATION: PRODUCT LAUNCHES
TABLE 102 CARRIER CORPORATION: OTHERS
12.3 TRANE TECHNOLOGY
TABLE 103 TRANE TECHNOLOGY: BUSINESS OVERVIEW
FIGURE 37 TRANE TECHNOLOGY: COMPANY SNAPSHOT
TABLE 104 TRANE TECHNOLOGY: DEALS
TABLE 105 TRANE TECHNOLOGY: PRODUCT LAUNCHES
12.4 JOHNSON CONTROLS – HITACHI AIR CONDITIONING
TABLE 106 JOHNSON CONTROLS – HITACHI AIR CONDITIONING: BUSINESS OVERVIEW
FIGURE 38 JOHNSON CONTROLS – HITACHI AIR CONDITIONING: COMPANY SNAPSHOT
TABLE 107 JOHNSON CONTROLS – HITACHI AIR CONDITIONING: PRODUCT LAUNCHES
12.5 MITSUBISHI ELECTRIC (CLIMAVENETA)
TABLE 108 MITSUBISHI ELECTRIC: BUSINESS OVERVIEW
FIGURE 39 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
TABLE 109 MITSUBISHI ELECTRIC: PRODUCT LAUNCHES
12.6 SMARDT CHILLER GROUP INC.
TABLE 110 SMARDT CHILLER GROUP INC.: BUSINESS OVERVIEW
12.7 KKT CHILLERS
TABLE 111 KKT CHILLERS: BUSINESS OVERVIEW
12.8 MTA S.P.A
TABLE 112 MTA S.P.A: BUSINESS OVERVIEW
12.9 FRIULAIR S.R.L
TABLE 113 FRIULAIR S.R.L: BUSINESS OVERVIEW
12.10 HYDAC INTERNATIONAL
TABLE 114 HYDAC INTERNATIONAL: BUSINESS OVERVIEW
12.11 REYNOLD INDIA PRIVATE LIMITED
TABLE 115 REYNOLD INDIA PRIVATE LIMITED: BUSINESS OVERVIEW
12.12 OTHER COMPANIES
12.12.1 ADVANTAGE ENGINEERING, INC.
12.12.2 AIREDALE AIR CONDITIONING
12.12.3 BLUEBOX
12.12.4 BV THERMAL SYSTEMS
12.12.5 CLIMAVENETA S.P.A.
12.12.6 COLD SHOT CHILLERS
12.12.7 DRAKE REFRIGERATION INC.
12.12.8 KALTRA INNOVATIVTECHNIK GMBH
12.12.9 LENNOX EMEA
12.12.10 POLYSCIENCE
12.12.11 SHUANGLIANG ECO-ENERGY SYSTEMS CO., LTD.
12.12.12 SKM AIR CONDITIONING LLC
12.12.13 TANDEM CHILLERS INC.
12.12.14 THERMONICS CORPORATION
12.12.15 THERMAL CARE, INC.
*Details on Business overview, Impact of COVID-19 on business unit, Products offered, Recent developments, MnM view, Key strengths/right to win, Strategic choices made, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
13 APPENDIX
13.1 DISCUSSION GUIDE
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
13.3 AVAILABLE CUSTOMIZATIONS
13.4 RELATED REPORT
13.5 AUTHOR DETAILS
1.1 OBJECTIVES OF THE STUDY
1.2 MARKET DEFINITION
FIGURE 1 CHILLERS MARKET SEGMENTATION
1.2.1 REGIONS COVERED
1.2.2 YEARS CONSIDERED FOR THE STUDY
1.3 CURRENCY
1.4 UNIT CONSIDERED
1.5 LIMITATIONS
1.6 STAKEHOLDERS
1.7 SUMMARY OF CHANGES
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
FIGURE 2 CHILLERS MARKET: RESEARCH DESIGN
2.1.1 SECONDARY DATA
2.1.1.1 List of major secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Breakdown of primary interviews
2.1.3 PRIMARIES
2.1.3.1 Chiller Companies
2.1.3.2 Key industry insights
2.2 MARKET SIZE ESTIMATION
FIGURE 3 CHILLERS MARKET SIZE ESTIMATION
2.2.1 TOP-DOWN APPROACH
2.2.1.1 Approach for arriving at the market size using top-down analysis
FIGURE 4 TOP-DOWN APPROACH
2.2.2 BOTTOM-UP APPROACH
2.2.2.1 Approach for arriving at the market size using bottom-up analysis
FIGURE 5 BOTTOM-UP APPROACH
FIGURE 6 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH (DEMAND SIDE)
FIGURE 7 MARKET SIZE ESTIMATION: BOTTOM-UP APPROACH (SUPPLY SIDE)
2.3 DATA TRIANGULATION
FIGURE 8 CHILLERS MARKET: DATA TRIANGULATION
2.4 ASSUMPTIONS
2.5 RESEARCH LIMITATIONS
3 EXECUTIVE SUMMARY
FIGURE 9 SCROLL SEGMENT TO LEAD THE MARKET BY 2026
FIGURE 10 LESS THAN 17.5 KW CAPACITY TO BE THE LARGEST SEGMENT OF CHILLERS MARKET DURING THE FORECAST PERIOD
FIGURE 11 ALTERNATIVE ENERGY TO REGISTER THE HIGHEST CAGR
FIGURE 12 APAC TO LEAD THE CHILLERS MARKET BETWEEN 2021 AND 2026
4 PREMIUM INSIGHTS
4.1 EMERGING ECONOMIES TO WITNESS A RELATIVELY HIGHER DEMAND FOR CHILLERS
FIGURE 13 EMERGING ECONOMIES TO OFFER ATTRACTIVE OPPORTUNITIES IN THE CHILLERS MARKET DURING THE FORECAST PERIOD
4.2 APAC: CHILLERS MARKET, BY END-USE INDUSTRY AND COUNTRY
FIGURE 14 CHINA WAS THE LARGEST MARKET FOR CHILLERS IN APAC IN 2020
4.3 CHILLERS MARKET, BY TYPE
FIGURE 15 SCROLL TYPE OF CHILLER SEGMENT TO LEAD THE CHILLERS MARKET DURING THE FORECAST PERIOD
4.4 CHILLERS MARKET, BY CAPACITY
FIGURE 16 LESS THAN 17.5 KW CAPACITY OF CHILLER TO WITNESS THE HIGHEST DEMAND IN THE CHILLERS MARKET
4.5 CHILLERS MARKET, BY END-USE INDUSTRY
FIGURE 17 ALTERNATIVE ENERGY TO BE THE LARGEST END-USE INDUSTRY FOR THE GLOBAL CHILLERS MARKET BY 2026
4.6 CHILLERS MARKET, BY COUNTRY
FIGURE 18 THE CHILLERS MARKET IN INDIA TO GROW AT THE HIGHEST CAGR FROM 2021 TO 2026
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
FIGURE 19 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE CHILLERS MARKET
5.2.1 DRIVERS
5.2.1.1 Growing demand for process cooling in industrial applications
5.2.1.2 Space cooling is a key factor for growth in demand for chillers
5.2.1.3 Rising demand for chillers from developing markets of APAC
5.2.1.4 Growing usage of chillers in solar cooling applications
5.2.1.5 Growing demand for modular chillers
5.2.1.6 Significant growth in the number of data centers and their power density
TABLE 1 COUNTRY MAPPING OF DATA CENTERS
5.2.1.7 Demand for chillers from the aviation and infrastructure industries
5.2.2 RESTRAINTS
5.2.2.1 Slow growth of the chillers market in Europe and North America
5.2.2.2 High setup cost of industrial chillers
5.2.3 OPPORTUNITIES
5.2.3.1 Emerging demand for absorption chillers
5.2.3.2 Growing industrial applications
5.2.3.3 Rising global temperatures and heat islands
5.2.3.4 Emerging opportunities for manufacturers to produce eco-friendly chillers
5.2.4 CHALLENGES
5.2.4.1 Regulations pertaining to fluorinated greenhouse gases
5.3 PORTER’S FIVE FORCES ANALYSIS
FIGURE 20 PORTER’S FIVE FORCES ANALYSIS: CHILLERS MARKET
5.3.1 THREAT OF NEW ENTRANTS
5.3.2 THREAT OF SUBSTITUTES
5.3.3 BARGAINING POWER OF BUYERS
5.3.4 BARGAINING POWER OF SUPPLIERS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
5.4 VALUE CHAIN ANALYSIS
FIGURE 21 CHILLERS MARKET: VALUE CHAIN ANALYSIS
5.5 ECOSYSTEM MAPPING
5.6 TECHNOLOGY ANALYSIS
5.6.1 OIL-FREE MAGNETIC-BEARING TECHNOLOGY TO REDUCE ENERGY CONSUMPTION IN CHILLERS
5.6.2 ENERGY MONITORING SYSTEM (EMOS) IN CHILLER SYSTEMS
5.6.3 INTERNET OF THINGS (IOT), BIG DATA ANALYTICS, AND ARTIFICIAL INTELLIGENCE (AI) FOR ADVANCE CHILLER MANAGEMENT SYSTEM
5.7 TRADE ANALYSIS
5.7.1 IMPORT-EXPORT SCENARIO OF CHILLERS MARKET
TABLE 2 IMPORT TRADE DATA FOR REFRIGERATORS, FREEZERS, AND CHILLERS FOR SELECTED COUNTRIES, 2019 VS. 2020 (USD MILLION)
TABLE 3 EXPORT TRADE DATA FOR REFRIGERATORS, FREEZERS, AND CHILLERS FOR SELECTED COUNTRIES, 2019 VS. 2020
5.8 PRICING ANALYSIS
TABLE 4 GLOBAL AVERAGE PRICES OF CHILLERS, BY CAPACITY (USD/UNIT)
5.9 TARIFF POLICIES & REGULATIONS
5.9.1 NORTH AMERICA
5.9.2 EUROPE
5.9.3 APAC
5.9.4 THE KIGALI AMENDMENT TO THE MONTREAL PROTOCOL
5.10 COVID-19 IMPACT ON HVAC & CHILLERS MARKET
5.11 CHILLERS PATENT ANALYSIS
5.11.1 INTRODUCTION
5.11.2 METHODOLOGY
5.11.2.1 Document Type
FIGURE 22 PUBLICATION TRENDS - LAST 10 YEARS
5.11.3 INSIGHT
5.11.4 LEGAL STATUS OF THE PATENTS
5.11.5 JURISDICTION ANALYSIS
5.11.6 TOP COMPANIES/APPLICANTS
5.11.7 LIST OF PATENTS BY MITSUBISHI HEAVY IND LTD.
5.11.8 LIST OF PATENTS
6 CHILLERS CHILLING MEDIUM
6.1 FLUOROCARBON
6.1.1 CHLOROFLUOROCARBON
6.1.2 HYDROFLUOROCARBON
6.2 INORGANIC COMPOUNDS
6.3 AMMONIA
6.4 FREON
7 CHILLERS MARKET, BY CAPACITY RANGE
7.1 INTRODUCTION
FIGURE 23 CHILLERS MARKET, BY CAPACITY RANGE
TABLE 5 CHILLERS MARKET SIZE, BY CAPACITY RANGE, 2019–2026 (USD MILLION)
TABLE 6 CHILLERS MARKET SIZE, BY CAPACITY RANGE, 2019–2026 (UNITS)
8 CHILLERS MARKET, BY TYPE
8.1 INTRODUCTION
FIGURE 24 CHILLERS MARKET, BY TYPE
FIGURE 25 SCROLL CHILLERS ACCOUNT FOR THE LARGEST MARKET SIZE
TABLE 7 CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 8 CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
8.2 SCROLL CHILLERS
8.2.1 WATER-COOLED SCROLL CHILLERS
8.2.2 AIR-COOLED SCROLL CHILLERS
8.3 SCREW CHILLERS
8.3.1 WATER-COOLED SCREW CHILLERS
8.3.2 AIR-COOLED SCREW CHILLERS
8.4 CENTRIFUGAL CHILLERS
8.4.1 CENTRIFUGAL WATER-COOLED CHILLERS
8.4.2 CENTRIFUGAL AIR-COOLED CHILLERS
8.5 RECIPROCATING CHILLERS
8.5.1 WATER-COOLED RECIPROCATING CHILLERS
8.5.2 AIR-COOLED RECIPROCATING CHILLERS
8.6 ABSORPTION CHILLERS
8.6.1 STEAM ABSORPTION CHILLERS
8.6.2 HOT WATER ABSORPTION CHILLERS
8.6.3 DIRECT FIRED ABSORPTION CHILLERS
9 CHILLERS MARKET, BY END-USE INDUSTRY
9.1 INTRODUCTION
FIGURE 26 CHEMICALS & PETROCHEMICALS TO BE THE FASTEST-GROWING END-USE INDUSTRY IN THE CHILLERS MARKET
TABLE 9 CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 10 CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
9.2 PLASTICS
9.3 FOOD & BEVERAGE
9.4 CHEMICALS & PETROCHEMICALS
9.5 RUBBER
9.6 MEDICAL & PHARMACEUTICAL
9.7 PRINTING
9.8 LASER CUTTING
9.9 ALTERNATIVE ENERGY
9.10 OTHERS
10 CHILLERS MARKET, BY REGION
10.1 INTRODUCTION
FIGURE 27 INDIA, CHINA, AND THAILAND ARE THE EMERGING MARKETS FOR CHILLERS
TABLE 11 CHILLERS MARKET SIZE, BY REGION, 2019–2026 (USD MILLION)
TABLE 12 CHILLERS MARKET SIZE, BY REGION, 2019–2026 (UNITS)
10.2 NORTH AMERICA
TABLE 13 NORTH AMERICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 14 NORTH AMERICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (UNITS)
TABLE 15 NORTH AMERICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 16 NORTH AMERICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
TABLE 17 NORTH AMERICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 18 NORTH AMERICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
10.2.1 US
10.2.1.1 The US to dominate the chillers market during the forecast period
TABLE 19 US: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 20 US: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.2.2 CANADA
10.2.2.1 Diversified downstream sector boosting the market
TABLE 21 CANADA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 22 CANADA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.2.3 MEXICO
10.2.3.1 Government initiatives to favor market growth
TABLE 23 MEXICO: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 24 MEXICO: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3 APAC
FIGURE 28 APAC: CHILLERS MARKET SNAPSHOT
TABLE 25 APAC: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 26 APAC: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (UNITS)
TABLE 27 APAC: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 28 APAC: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
TABLE 29 APAC: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 30 APAC: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
10.3.1 CHINA
10.3.1.1 China’s dominant position is attributed to the presence of huge manufacturing base
TABLE 31 CHINA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 32 CHINA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3.2 JAPAN
10.3.2.1 Presence of leading chiller manufacturers to support market growth
TABLE 33 JAPAN: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 34 JAPAN: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3.3 INDIA
10.3.3.1 Government initiatives and climatic factors to drive the market
TABLE 35 INDIA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 36 INDIA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3.4 SOUTH KOREA
10.3.4.1 High temperatures and heat waves in the country increase the demand for chillers
TABLE 37 SOUTH KOREA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 38 SOUTH KOREA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3.5 THAILAND
10.3.5.1 Investments across end-use industries to propel the market
TABLE 39 THAILAND: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 40 THAILAND: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.3.6 REST OF APAC
TABLE 41 REST OF APAC: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 42 REST OF APAC: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4 EUROPE
TABLE 43 EUROPE: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 44 EUROPE: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (UNITS)
TABLE 45 EUROPE: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 46 EUROPE: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
TABLE 47 EUROPE: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 48 EUROPE: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
10.4.1 GERMANY
10.4.1.1 Constant innovations in chemical and petrochemical industries
TABLE 49 GERMANY: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 50 GERMANY: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.2 FRANCE
10.4.2.1 Investments in construction industry and transition toward clean economy to influence the industrial insulation market growth
TABLE 51 FRANCE: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 52 FRANCE: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.3 UK
10.4.3.1 Growing demand from the automotive industry to boost market growth in the UK
TABLE 53 UK: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 54 UK: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.4 ITALY
10.4.4.1 Demand from automotive and manufacturing industries to favor market growth
TABLE 55 ITALY: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 56 ITALY: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.5 RUSSIA
10.4.5.1 Industrial development to boost the demand for chillers
TABLE 57 RUSSIA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 58 RUSSIA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.6 TURKEY
10.4.6.1 Urbanization and industrialization trends to drive the market in the country
TABLE 59 TURKEY: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 60 TURKEY: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.4.7 REST OF EUROPE
TABLE 61 REST OF EUROPE: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 62 REST OF EUROPE: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.5 MIDDLE EAST & AFRICA
TABLE 63 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 64 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (UNITS)
TABLE 65 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 66 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
TABLE 67 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 68 MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
10.5.1 SAUDI ARABIA
10.5.1.1 Saudi’s industrial sector to contribute to significant rise in demand for chillers
TABLE 69 SAUDI ARABIA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 70 SAUDI ARABIA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.5.2 UAE
10.5.2.1 Hot weather increases the demand for chillers in the UAE
TABLE 71 UAE: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 72 UAE: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.5.3 QATAR
10.5.3.1 Increasing use of chillers in industrial & commercial applications to boost the market
TABLE 73 QATAR: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 74 QATAR: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.5.4 SOUTH AFRICA
10.5.4.1 Developments in the automotive sector to drive market growth
TABLE 75 SOUTH AFRICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 76 SOUTH AFRICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.5.5 REST OF MIDDLE EAST & AFRICA
TABLE 77 REST OF MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 78 REST OF MIDDLE EAST & AFRICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.6 SOUTH AMERICA
TABLE 79 SOUTH AMERICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (USD MILLION)
TABLE 80 SOUTH AMERICA: CHILLERS MARKET SIZE, BY COUNTRY, 2019–2026 (UNITS)
TABLE 81 SOUTH AMERICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 82 SOUTH AMERICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (UNITS)
TABLE 83 SOUTH AMERICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
TABLE 84 SOUTH AMERICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (UNITS)
10.6.1 BRAZIL
10.6.1.1 Growing investments across end-use industries to drive the market
TABLE 85 BRAZIL: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 86 BRAZIL: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.6.2 ARGENTINA
10.6.2.1 Increasing adoption of chillers in the country to drive the market demand
TABLE 87 ARGENTINA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 88 ARGENTINA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
10.6.3 REST OF SOUTH AMERICA
TABLE 89 REST OF SOUTH AMERICA: CHILLERS MARKET SIZE, BY TYPE, 2019–2026 (USD MILLION)
TABLE 90 REST OF SOUTH AMERICA: CHILLERS MARKET SIZE, BY END-USE INDUSTRY, 2019–2026 (USD MILLION)
11 COMPETITIVE LANDSCAPE
11.1 INTRODUCTION
FIGURE 29 NEW PRODUCT LAUNCH IS A KEY STRATEGY ADOPTED BY MARKET PLAYERS BETWEEN 2017 AND 2021
11.2 RANKING ANALYSIS OF KEY MARKET PLAYERS, 2021
FIGURE 30 RANKING ANALYSIS OF TOP FIVE PLAYERS IN CHILLERS MARKET, 2020
11.3 COMPANY PRODUCT FOOTPRINT
TABLE 91 COMPANY PRODUCT TYPE FOOTPRINT
TABLE 92 COMPANY END-USE INDUSTRY FOOTPRINT
TABLE 93 COMPANY REGION FOOTPRINT
11.4 MARKET SHARE ANALYSIS
FIGURE 31 MARKET SHARE OF KEY PLAYERS, 2020
TABLE 94 STRATEGIC POSITIONING OF KEY PLAYERS
11.5 COMPANY EVALUATION MATRIX
11.5.1 STAR
11.5.2 PERVASIVE
11.5.3 PARTICIPANTS
11.5.4 EMERGING LEADERS
FIGURE 32 CHILLERS MARKET: COMPANY EVALUATION MATRIX, 2020
11.6 STARTUPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX
11.6.1 RESPONSIVE COMPANIES
11.6.2 DYNAMIC COMPANIES
11.6.3 STARTING BLOCKS
11.6.4 PROGRESSIVE COMPANIES
FIGURE 33 STARTUPS AND SMALL AND MEDIUM-SIZED ENTERPRISES (SMES) EVALUATION MATRIX, 2020
11.7 MARKET EVALUATION FRAMEWORK
FIGURE 34 MARKET EVALUATION FRAMEWORK: MARKET EXPANSION AND CONSOLIDATION
11.8 COMPETITIVE SCENARIO
11.9 REVENUE ANALYSIS OF TOP PLAYERS
TABLE 95 REVENUE ANALYSIS OF KEY PLAYERS
12 COMPANY PROFILES
(Business overview, Impact of COVID-19 on business unit, Products offered, Recent developments, MnM view, Key strengths/right to win, Strategic choices made, and Weaknesses and competitive threats)*
12.1 DAIKIN INDUSTRIES, LTD.
TABLE 96 DAIKIN INDUSTRIES, LTD.: BUSINESS OVERVIEW
FIGURE 35 DAIKIN INDUSTRIES, LTD.: COMPANY SNAPSHOT
TABLE 97 DAIKIN INDUSTRIES, LTD.: DEALS
TABLE 98 DAIKIN INDUSTRIES, LTD.: OTHERS
12.2 CARRIER CORPORATION
TABLE 99 CARRIER CORPORATION: BUSINESS OVERVIEW
FIGURE 36 CARRIER CORPORATION: COMPANY SNAPSHOT
TABLE 100 CARRIER CORPORATION: DEALS
TABLE 101 CARRIER CORPORATION: PRODUCT LAUNCHES
TABLE 102 CARRIER CORPORATION: OTHERS
12.3 TRANE TECHNOLOGY
TABLE 103 TRANE TECHNOLOGY: BUSINESS OVERVIEW
FIGURE 37 TRANE TECHNOLOGY: COMPANY SNAPSHOT
TABLE 104 TRANE TECHNOLOGY: DEALS
TABLE 105 TRANE TECHNOLOGY: PRODUCT LAUNCHES
12.4 JOHNSON CONTROLS – HITACHI AIR CONDITIONING
TABLE 106 JOHNSON CONTROLS – HITACHI AIR CONDITIONING: BUSINESS OVERVIEW
FIGURE 38 JOHNSON CONTROLS – HITACHI AIR CONDITIONING: COMPANY SNAPSHOT
TABLE 107 JOHNSON CONTROLS – HITACHI AIR CONDITIONING: PRODUCT LAUNCHES
12.5 MITSUBISHI ELECTRIC (CLIMAVENETA)
TABLE 108 MITSUBISHI ELECTRIC: BUSINESS OVERVIEW
FIGURE 39 MITSUBISHI ELECTRIC: COMPANY SNAPSHOT
TABLE 109 MITSUBISHI ELECTRIC: PRODUCT LAUNCHES
12.6 SMARDT CHILLER GROUP INC.
TABLE 110 SMARDT CHILLER GROUP INC.: BUSINESS OVERVIEW
12.7 KKT CHILLERS
TABLE 111 KKT CHILLERS: BUSINESS OVERVIEW
12.8 MTA S.P.A
TABLE 112 MTA S.P.A: BUSINESS OVERVIEW
12.9 FRIULAIR S.R.L
TABLE 113 FRIULAIR S.R.L: BUSINESS OVERVIEW
12.10 HYDAC INTERNATIONAL
TABLE 114 HYDAC INTERNATIONAL: BUSINESS OVERVIEW
12.11 REYNOLD INDIA PRIVATE LIMITED
TABLE 115 REYNOLD INDIA PRIVATE LIMITED: BUSINESS OVERVIEW
12.12 OTHER COMPANIES
12.12.1 ADVANTAGE ENGINEERING, INC.
12.12.2 AIREDALE AIR CONDITIONING
12.12.3 BLUEBOX
12.12.4 BV THERMAL SYSTEMS
12.12.5 CLIMAVENETA S.P.A.
12.12.6 COLD SHOT CHILLERS
12.12.7 DRAKE REFRIGERATION INC.
12.12.8 KALTRA INNOVATIVTECHNIK GMBH
12.12.9 LENNOX EMEA
12.12.10 POLYSCIENCE
12.12.11 SHUANGLIANG ECO-ENERGY SYSTEMS CO., LTD.
12.12.12 SKM AIR CONDITIONING LLC
12.12.13 TANDEM CHILLERS INC.
12.12.14 THERMONICS CORPORATION
12.12.15 THERMAL CARE, INC.
*Details on Business overview, Impact of COVID-19 on business unit, Products offered, Recent developments, MnM view, Key strengths/right to win, Strategic choices made, and Weaknesses and competitive threats might not be captured in case of unlisted companies.
13 APPENDIX
13.1 DISCUSSION GUIDE
13.2 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
13.3 AVAILABLE CUSTOMIZATIONS
13.4 RELATED REPORT
13.5 AUTHOR DETAILS
The report "Chillers Market by Type (Screw, Scroll, Centrifugal, Absorption, Reciprocating), End-use industry (Plastic, Chemical & Petrochemical, Rubber, Food & Beverage, Medical & Pharmaceutical), and Region - Global Forecast to 2022", The market size of chillers is estimated to grow from an estimated USD 9.15 Billion in 2017 to 11.33 Billion by 2022, at a CAGR of 4.4%. The market is driven by the rising demand from the chemical & petrochemical and plastic industries, and increasing process cooling applications. The Asia Pacific and Middle East & Africa are estimated to witness strong growth during the next five years. Demand across these regions is reinforced by the emerging markets, namely, China, India, and Saudi Arabia.
The key market players profiled in the report are
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., among others are covered in the report.
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.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted.
The break-up of primary interviews is given below:
By Company Type: Tier 1 – 71%, Tier 2 – 23%, and Others – 6%
By Designation: C level – 48%, Director Level – 31%, and Others – 21%
By Region: North America – 18%, Europe – 38%, Asia Pacific – 17%, Middle East & Africa – 20%, and South America – 7%
