Product Code: CH 4336
Increasing process cooling applications in end-use industries are driving the market for chillers globally
The market size for chillers is projected to reach USD 11.33 billion by 2022, at a CAGR of 4.4% during the forecast period. Chillers are used in various process cooling applications in various industries. The chillers market is spread across a wide range of end-use industries such as chemical & petrochemical, plastic, rubber, food & beverage, and medical & pharmaceutical. Therefore, the market is expected to grow due to the growth in other related industries in the coming years. A slow growth rate in mature markets such as North America and Europe is the major restraint for the chillers market.
Chemical & petrochemical industry is projected to be the fastest-growing end-use industry of the chillers market during forecast period (2017-2022)
The chemical & petrochemical industry is projected to grow at the highest CAGR between 2017 and 2022. The high growth is attributed to the growing demand for chemical and petrochemical products and increased government measures on energy efficiency, which are driving the demand for chillers. The plastic industry is projected to account for the largest market share among all end-use industries, in terms of value during the forecast period.
Rising demand from emerging countries of Asia Pacific is a major driver for the chillers market
Asia Pacific is projected to be the fastest-growing market for chillers in terms of value during the forecast period. China and India are the two major markets for chillers in the Asia Pacific. The Chinese plastic industry has the largest share in the Asia Pacific, resulting in an increased growth of the market. Also, high demand for chillers in solar cooling applications, and growing end-use industries are expected to drive the demand for chillers in both, China and India.
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%
The key companies profiled in this market research 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 (UAE), Thermionics Corporation (US), Thermal Care, Inc. (US), and Kaltra Innovativtechnik GmbH (Germany).
The market is segmented based on type, end-use industry, and region. This report covers the chillers market, in terms of value and forecasts its market size till 2022. The report also provides company profiles and competitive strategies adopted by the key players in the global chillers market.
Reasons to Buy the Report:
The report will help the market leaders/new entrants in this market in the following ways:
- 1. This report segments the chillers market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
- 2. The report helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
- 3. This report will help stakeholders understand the competitors and gain more insights to improve their positions in their businesses. The competitive landscape section includes new product developments, expansions, agreements & contracts, partnerships, acquisitions, and joint ventures.
TABLE OF CONTENTS
- 1.1. OBJECTIVES OF THE STUDY
- 1.2. MARKET DEFINITION
- 1.3. MARKET SCOPE
- 1.3.1. YEARS CONSIDERED FOR THE STUDY
- 1.4. CURRENCY
- 1.5. STAKEHOLDERS
2. RESEARCH METHODOLOGY
- 2.1. RESEARCH DATA
- 2.1.1. SECONDARY DATA
- 220.127.116.11. Key data from secondary sources
- 2.1.2. PRIMARY DATA
- 18.104.22.168. Key data from primary sources
- 22.214.171.124. Breakdown of primary interviews
- 2.2. MARKET SIZE ESTIMATION
- 2.2.1. BOTTOM-UP APPROACH
- 2.2.2. TOP-DOWN APPROACH
- 2.3. DATA TRIANGULATION
- 2.4. ASSUMPTIONS AND LIMITATIONS
- 2.4.1. ASSUMPTIONS
- 2.4.2. LIMITATIONS
3. EXECUTIVE SUMMARY
4. PREMIUM INSIGHTS
- 4.1. ATTRACTIVE OPPORTUNITIES IN THE CHILLERS MARKET
- 4.2. CHILLERS MARKET, BY END-USE INDUSTRY
- 4.3. CHILLERS MARKET IN ASIA-PACIFIC, BY TYPE AND COUNTRY, 2016
- 4.4. CHILLERS MARKET, BY TYPE, 2017-2022(USD MILLION)
- 4.5. CHILLERS MARKET SIZE, BY COUNTRY
5. MARKET OVERVIEW
- 5.1. INTRODUCTION
- 5.2. MARKET DYNAMICS
- 5.2.1. DRIVERS
- 126.96.36.199. Growing demand for process cooling in industrial applications
- 188.8.131.52. Rising demand for chillers from developing markets of Asia-Pacific
- 184.108.40.206. Growing usage of chillers in solar cooling applications
- 5.2.2. RESTRAINTS
- 220.127.116.11. Slow growth of chillers market in Europe and North America
- 5.2.3. OPPORTUNITIES
- 18.104.22.168. Emerging demand for absorption chillers
- 5.2.4. CHALLENGES
- 22.214.171.124. Regulations pertaining to fluorinated greenhouse gases
- 5.3. PORTER'S FIVE FORCES ANALYSIS
- 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 SUPPLIER
- 5.3.5. INTENSITY OF COMPETITIVE RIVALRY
- 5.4. CHILLERS CHILLING MEDIUM
- 5.4.1. FLUROCARBON
- 126.96.36.199. Chlorofluorocarbons (CFC)
- 188.8.131.52. Hydrofluorocarbon
- 5.4.2. INORGANIC COMPOUNDS
- 5.4.3. AMMONIA
- 5.4.4. FREON
6. CHILLERS MARKET, BY CAPACITY RANGE
7. CHILLERS MARKET, BY TYPE
- 7.1. INTRODUCTION
- 7.2. SCROLL CHILLERS
- 7.2.1. WATER-COOLED SCROLL CHILLERS
- 7.2.2. AIR-COOLED SCROLL CHILLERS
- 7.3. SCREW CHILLERS
- 7.3.1. WATER-COOLED SCREW CHILLERS
- 7.3.2. AIR-COOLED SCREW CHILLERS
- 7.4. CENTRIFUGAL CHILLERS
- 7.4.1. CENTRIFUGAL WATER-COOLED CHILLERS
- 7.4.2. CENTRIFUGAL AIR-COOLED CHILLER
- 7.5. RECIPROCATING CHILLERS
- 7.5.1. WATER-COOLED RECIPROCATING CHILLERS
- 7.5.2. AIR-COOLED RECIPROCATING CHILLERS
- 7.6. ABSORPTION CHILLERS
- 7.6.1. STEAM ABSORPTION CHILLERS
- 7.6.2. HOT WATER ABSORPTION CHILLERS
- 7.6.3. DIRECT FIRED ABSORPTION CHILLERS
8. CHILLERS MARKET, BY END-USE INDUSTRY
- 8.1. INTRODUCTION
- 8.2. PLASTICS
- 8.3. FOOD & BEVERAGE
- 8.4. CHEMICALS & PETROCHEMICALS
- 8.5. RUBBER
- 8.6. MEDICAL & PHARMACEUTICAL
- 8.7. OTHERS
9. CHILLERS MARKET, BY REGION
- 9.1. INTRODUCTION
- 9.2. NORTH AMERICA
- 9.2.1. U.S.
- 9.2.2. CANADA
- 9.2.3. MEXICO
- 9.3. EUROPE
- 9.3.1. GERMANY
- 9.3.2. FRANCE
- 9.3.3. U.K.
- 9.3.4. ITALY
- 9.3.5. RUSSIA
- 9.3.6. TURKEY
- 9.3.7. REST OF EUROPE
- 9.4. ASIA-PACIFIC
- 9.4.1. CHINA
- 9.4.2. JAPAN
- 9.4.3. INDIA
- 9.4.4. SOUTH KOREA
- 9.4.5. THAILAND
- 9.4.6. INDONESIA
- 9.4.7. TAIWAN
- 9.4.8. REST OF ASIA-PACIFIC
- 9.5. MIDDLE EAST & AFRICA
- 9.5.1. SAUDI ARABIA
- 9.5.2. UAE
- 9.5.3. QATAR
- 9.5.4. SOUTH AFRICA
- 9.5.5. REST OF MIDDLE EAST & AFRICA
- 9.6. SOUTH AMERICA
- 9.6.1. BRAZIL
- 9.6.2. REST OF SOUTH AMERICA
10. COMPETITIVE LANDSCAPE
- 10.1. INTRODUCTION
- 10.2. MARKET RANKING OF KEY PLAYERS
11. COMPANY PROFILE (Business Overview, Products Offered, Scorecard of Product Offering, Scorecard of Business Strategy, and New Product Launch*)
- 11.1. DAIKIN INDUSTRIES, LTD.
- 11.2. CARRIER CORPORATION
- 11.3. TRANE
- 11.4. JOHNSON CONTROLS - HITACHI AIR CONDITIONING
- 11.5. SMARDT CHILLER GROUP INC.
- 11.6. BROAD GROUP
- 11.7. DUNHAM BUSH
- 11.8. GEA GROUP
- 11.9. MIDEA GROUP CO., LTD.
- 11.10. THERMAX LIMITED
- 11.11. OTHER COMPANIES
- 11.11.1. ADVANTAGE ENGINEERING, INC.
- 11.11.2. AIREDALE AIR CONDITIONING
- 11.11.3. BLUEBOX
- 11.11.4. BV THERMAL SYSTEMS
- 11.11.5. CLIMAVENETA S.P.A.
- 11.11.6. COLD SHOT CHILLERS
- 11.11.7. DRAKE REFRIGERATION INC.
- 11.11.8. KALTRA INNOVATIVTECHNIK GMBH
- 11.11.9. LENNOX EMEA
- 11.11.10. POLYSCIENCE
- 11.11.11. SHUANGLIANG ECO-ENERGY SYSTEMS CO., LTD.
- 11.11.12. SKM AIR CONDITIONING LLC
- 11.11.13. TANDEM CHILLERS INC.
- 11.11.14. THERMONICS CORPORATION
- 11.11.15. THERMAL CARE, INC.
*Details might not be captured in case of unlisted companies
- 12.1. INSIGHTS FROM INDUSTRY EXPERTS
- 12.2. DISCUSSION GUIDE
- 12.3. KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
- 12.4. INTRODUCING RT: REAL-TIME MARKET INTELLIGENCE
- 12.5. RELATED REPORTS
- 12.6. AUTHOR DETAILS