Industry Background:
Water chiller is a machine which used to enable heat exchange from water to a refrigerant in a closed loop system. A chiller is a mechanical device that eliminates heat from a liquid via a vapor-compression or absorption refrigeration cycle. Water chillers are same as radiators and it can be cooled by air or water. It has extensive industrial applications. Water chiller has a huge demand in various industries including Beverages, Plastics, and Medical industries. Water chillers are available in different size and different cooling capacities.
According to AMA, the market for Water Chiller is expected to register a CAGR of 4.68% during the forecast period to 2027. This growth is primarily driven by Growth in Consumption of Frozen Foods, High Adoption of Energy-Efficient Cooling Solutions and Growing Demand for Process Cooling In Industrial Applications.
Globally, a noticeable market trend is evident Rising Adoption in Solar Cooling Applications
. The Machinery & Equipment sector in the Europe region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Manufacturers, such as DAIKIN INDUSTRIES, Ltd. (Japan), Trane (Ireland), Carrier Corporation (United States), Smardt Chiller Group, Inc. (Canada), Johnson Controls (United States), Thermax Ltd. (India), Hitachi Appliances Inc. (Japan), Climaveneta S.P.A. (Italy), Polyscience (United States) and Dimplex Thermal Solutions (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On 26th November 2018, Daikin Industries, Ltd. has acquired AHT Group a leading company in the commercial refrigeration market in Europe. The deal was established for 881 million euros.
On 5th July 2018, Daikin has launched a new generation of high-efficiency air-cooled scroll chiller series with refrigerant R-32. The new Air-cooled chiller range will be available for cooling only as well as heat recovery applications from 80 kW up to 700 kW cooling capacity at minor circumstances.
Market Drivers
- Growth in Consumption of Frozen Foods
- High Adoption of Energy-Efficient Cooling Solutions
- Growing Demand for Process Cooling In Industrial Applications
Market Trend
- Rising Adoption in Solar Cooling Applications
- High Adoption in Developing Countries
Restraints
- Regulations Pertaining to Fluorinated Greenhouse Gases
Opportunities
Increasing Demand of Absorption Chillers
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Water Chiller Study Sheds Light on
The Water Chiller Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Water Chiller industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Water Chiller industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.