About Industrial Chillers
Industrial chillers are a refrigerator system that cools or dehumidify air in industrial and commercial services. Increasing demand for frozen food and changing health habits in emerging economies fueling the growth of the very market. Some Companies are enhancing the effectiveness and dependability of oil-free chillers.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that German Manufacturers will contribute the maximum growth to Global Industrial Chillers market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Danfoss (India), Dalian Refrigeration Co (China), GEA Refrigeration Technologies (Germany), RIEDEL Cooling (Germany), Motivair Corporation (United States), Whaley Products Inc. (United States), Airedale Cooling Services Ltd (United Kingdom), Smardt Chiller Group Inc. (Canada), Midea Group (China), Pfannenberg (Germany) and Daikin Industries, Ltd. (Japan) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Mitsubishi Electric (Japan).
Segmentation Overview
AMA Research has segmented the market of Global Industrial Chillers market by Type (Screw Chiller, Scroll Chiller, Centrifugal Chiller, Absorption Chiller and Reciprocating Chiller), Application (Plastic Application, Medical Use, Food & Beverage Use, HVAC and Others) and Region.
On the basis of geography, the market of Industrial Chillers has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Verticals, the sub-segment i.e. Chemicals and Petrochemicals Industry will boost the Industrial Chillers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channels, the sub-segment i.e. Online will boost the Industrial Chillers market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing use of the Internet of Things (IoT) in various Commercial and Industrial buildings to Improve the Proficiency of HVAC systems used in Industrial Chiller Market and Companies are Focusing on Providing the Oil-Free Chillers
Market Growth Drivers:
Rising Demand for Frozen Food in Emerging Economies and Increasing Number of Changing habits and Health Consciousness in Developing Economies
Challenges:
Increasing Intense Market Competition among Competitors
Restraints:
The threat to the international market due to Low Price Industrial Chiller offered by Local Market
Opportunities:
Increase in Demand for Industrial Chiller from Developing Economies
Market Leaders and their expansionary development strategies
In May 2022, TICA, now the 100% shareholder of global Smardt Chiller Group, announces the expansion of all of the global Smardt manufacturing facilities, further supporting Smardt’s global leadership of the oilfree centrifugal chiller category.
In February 2023, Daikin launches second generation cooling only chiller range with R32 scroll compressors. Extending Daikin's low GWP scroll range up to 1010 kW, the latest new air-cooled chiller with R32 scroll compressors offers a low carbon solution for a range of process, industrial, IT and comfort cooling applications.
“The EU’s requirements changed again on 1 January 2018 with the introduction of a cooling cycle MEPS based on a new seasonal cooling metric, the Seasonal Energy Efficiency Ratio (SEER). The SEER is fundamentally different from AHRI’s IPLV and the old ESEER. The and SEER tests are performed at different temperatures and the weightings bear no resemblance to those used by AHRI. These changes will go further in January 2021, when the more stringent Tier 2 MEPS are introduced.”
Key Target Audience
Industrial Chiller Manufacturers, Industrial Chiller Distributors and Suppliers, Industrial Chiller International Traders, Upstream and Downstream Buyers, Research and Development Institutes, Hospitals and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.