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.
Browse 69 Market Data Tables and 31 Figures spread through 129 Pages and in-depth TOC on “Chillers Market
The global chillers market has been witnessing many developments over the past few years. These are preferred and widely accepted due to their high energy efficient properties. Increasing use of chillers in solar cooling applications is further driving the market for chillers, globally. The consumption of chillers has grown significantly in recent times and is at a nascent stage in various emerging countries.
Chillers are used in various cooling applications, in various end-use industries such as chemical & petrochemical, plastic, and food & beverage. In 2016, the plastic industry accounted for the largest market share among all end-use industries, in terms of value, followed by the chemical & petrochemical and food & beverage industries. The chemical & petrochemical end-use industry is projected to register the highest CAGR between 2017 and 2022 among all the end-use industries.
The slow growth rate in mature markets such as Europe and North America and the increasing raw material prices are the major restraints for this market.
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Most active market players in the chillers market
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.
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