HOME Top Market Reports Chillers Market by Type (Screw, Scroll, Centrifugal, Absorption, and Reciprocating), by End-Use Industry (Plastics, Chemicals & Petrochemicals, Medical & Pharmaceutical, Rubber, Food & Beverage, and Others), and by Region - Global Forecast to 2021

Chillers Market by Type (Screw, Scroll, Centrifugal, Absorption, and Reciprocating), by End-Use Industry (Plastics, Chemicals & Petrochemicals, Medical & Pharmaceutical, Rubber, Food & Beverage, and Others), and by Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: May 2016
Report Code: CH 4336

 

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The global market size of chillers is estimated to reach USD 10.84 Billion by 2021 at a CAGR of 4.24%.  The report includes analysis of the chillers market by end-use industries, such as chemicals & petrochemicals, food & beverages, plastics, medical & pharmaceutical, rubber, and others; by types, that include screw, scroll, centrifugal, absorption, and reciprocating; and by region, namely, Asia-Pacific, Europe, North America, the Middle East & Africa, and Latin America. The base year considered for the study is 2015 while the forecast period is between 2016 and 2021. The chillers market is driven by growing government focus on energy conservation that further demands for the energy-efficient cooling solutions.

Both, top-down and bottom-up approaches have been used to estimate and validate the size of the global chillers market and to estimate the size of various other dependent submarkets. The research study involved the use of extensive secondary sources, directories, and databases such as Hoovers, Bloomberg, Chemical Weekly, Factiva, Green Cooling Initiative (GCI), Turbine Inlet Cooling Association (TICA), Air Conditioning Trade Association (ACTA), Securities And Exchange Commission (SEC), American National Standards Institute (ANSI), and other government and private websites to identify and collect information useful for the technical, market-oriented, and commercial study of the chillers market.

Chillers Market

To know about the assumptions considered for the study, download the pdf brochure

Chillers are manufactured from various raw materials such as steel and non-steel compounds. These raw materials are supplied to the major manufacturers of chillers such Daikin Industries, Ltd. (Japan), Johnson Controls (U.S.), and Trane Inc. (Ireland). These manufacturers are also focusing on increasing their geographical presence by undertaking strategies such as joint ventures, expansions, and acquisitions. They are also providing advanced technology and effective cooling equipment by introducing new products.

Key Target Audience:

  • Manufacturers of chillers
  • Traders, distributors, and suppliers of chillers
  • Regional manufacturers’ associations and general chillers associations
  • Government and regional agencies and research organizations
  • Investment research firms

Scope of the Report:

This research report categorizes the global chillers market on the basis of end-use industry, type, and region.

On the basis of Types:

  • Screw
  • Scroll
  • Centrifugal
  • Absorption
  • Reciprocating

On the basis of End-Use Industry:

  • Plastics
  • Chemicals & petrochemicals
  • Food & beverages
  • Medical & pharmaceutical
  • Rubber
  • Others

On the basis of Region:

  • Asia-Pacific
  • Europe
  • North America
  • Middle East & Africa
  • Latin America

The market is further analyzed for the key countries in each of these regions

Available Customizations:

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs. The following customization options are available for the report:

Regional Analysis:

  • Country-level analysis of the chillers market by types.
  • Country-level analysis of the chillers market by end-use industries.

Company Information:

  • Detailed analysis and profiling of additional market players.

Table of Contents

1 Introduction (Page No. - 16)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
           1.3.3 Currency
    1.4 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 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
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Market Breakdown and Data Triangulation
           2.3.1 Assumptions
           2.3.2 Limitations

3 Executive Summary (Page No. - 29)

4 Premium Insights (Page No. - 35)
    4.1 Significant Market Opportunities in Chillers Market
    4.2 The Largest and Fastest-Growing Applications of Chillers Market
    4.3 Chillers Market in Asia-Pacific, 2015
    4.4 Chillers Market Share, By Region
    4.5 Chillers Market, By Type, 2016–2021 (USD Million)
    4.6 Life Cycle Analysis, By Region

5 Market Overview (Page No. - 40)
    5.1 Introduction
    5.2 Market Segmentation
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Increasing Demand for Process Cooling in Industrial Applications
                    5.3.1.2 Rising Demand for Chillers From Developing Markets of Asia-Pacific
                    5.3.1.3 Growing Usage of Chillers in Solar Cooling Applications
           5.3.2 Restraints
                    5.3.2.1 Slow Growth of Chillers Market in Europe and North America
           5.3.3 Opportunities
                    5.3.3.1 Emerging Demand for Absorption Chillers
           5.3.4 Challenges
                    5.3.4.1 Regulations Pertaining to Fluorinated Greenhouse Gases

6 Industry Trends (Page No. - 46)
    6.1 Introduction
    6.2 Value Chain Analysis
    6.3 Porter’s Five Forces Analysis
           6.3.1 Threat of New Entrants
           6.3.2 Threat of Substitutes
           6.3.3 Bargaining Power of Buyers
           6.3.4 Bargaining Power of Suppliers
           6.3.5 Intensity of Competitive Rivalry
    6.4 Raw Material Analysis
           6.4.1 Steel
           6.4.2 Non-Steel
    6.5 Patent Analysis
    6.6 Chillers: Chilling Medium
           6.6.1 Fluorocarbon
                    6.6.1.1 Chlorofluorocarbon 54
                    6.6.1.2 Hydrofluorocarbon 54
           6.6.2 Inorganic Compounds
           6.6.3 Ammonia

7 Macroeconomic Overview and Key Drivers (Page No. - 55)
    7.1 Introduction
    7.2 Trends and Forecast of GDP
    7.3 Per Capita GDP vs Per Capita Chillers Demand
           7.3.1 Trends and Forecast of Pharmaceutical Industry in Asia-Pacific

8 Chillers Market, By Capacity Range (Page No. - 60)
    8.1 Introduction

9 Chillers Market, By Type (Page No. - 62)
    9.1 Introduction
           9.1.1 Scroll Chillers
           9.1.2 Screw Chillers
           9.1.3 Centrifugal Chillers
           9.1.4 Reciprocating Chillers
           9.1.5 Absorption Chillers

10 Chillers Market, By End-Use Industry (Page No. - 72)
     10.1 Introduction
     10.2 Plastics
     10.3 Food & Beverage
     10.4 Chemicals & Petrochemicals
     10.5 Rubber
     10.6 Medical & Pharmaceutical
     10.7 Others

11 Chillers Market, By Region (Page No. - 83)
     11.1 Introduction
     11.2 North America
             11.2.1 U.S.
             11.2.2 Canada
             11.2.3 Mexico
     11.3 Asia-Pacific
             11.3.1 China
             11.3.2 India
             11.3.3 Japan
             11.3.4 South Korea
             11.3.5 Indonesia
             11.3.6 Thailand
             11.3.7 Taiwan
     11.4 Europe
             11.4.1 Germany
             11.4.2 France
             11.4.3 Italy
             11.4.4 Russia
             11.4.5 U.K.
             11.4.6 Turkey
     11.5 Middle East & Africa
             11.5.1 Saudi Arabia
             11.5.2 U.A.E.
             11.5.3 Qatar
             11.5.4 South Africa
     11.6 Latin America
             11.6.1 Brazil

12 Competitive Landscape (Page No. - 126)
     12.1 Overview
     12.2 Competitive Situations and Trends
     12.3 Market Share Analysis for Chillers Market (2015)
     12.4 Revenue Pocket Matrix
             12.4.1 Revenue Pocket Matrix for Types
             12.4.2 Revenue Pocket Matrix for End-Use Industries
     12.5 Key Growth Strategies in the Chillers Market, 2011–2016
     12.6 Expansions, Joint Ventures, and Acquisitions
     12.7 New Product Launches

13 Company Profile (Page No. - 136)
     13.1 Introduction
     13.2 Daikin Industries Ltd.
             13.2.1 Business Overview
             13.2.2 Products Offered
             13.2.3 Recent Developments
             13.2.4 SWOT Analysis
             13.2.5 MnM View
     13.3 Carrier Corporation
             13.3.1 Business Overview
             13.3.2 Products Offered
             13.3.3 Recent Developments
             13.3.4 MnM View
     13.4 Trane Inc.
             13.4.1 Business Overview
             13.4.2 Products Offered
             13.4.3 Recent Developments
             13.4.4 SWOT Analysis
             13.4.5 MnM View
     13.5 Johnson Controls
             13.5.1 Business Overview
             13.5.2 Products Offered
             13.5.3 Recent Developments
             13.5.4 SWOT Analysis
             13.5.5 MnM View
     13.6 Smardt Chiller Group Inc.
             13.6.1 Business Overview
             13.6.2 Products Offered
             13.6.3 Recent Developments
             13.6.4 MnM View
     13.7 Broad Air Conditioning Co., Ltd.
             13.7.1 Business Overview
             13.7.2 Products Offered
             13.7.3 MnM View
     13.8 Thermax Ltd.
             13.8.1 Business Overview
             13.8.2 Products Offered
             13.8.3 Recent Developments
             13.8.4 MnM View
     13.9 Polyscience
             13.9.1 Business Overview
             13.9.2 Products Offered
             13.9.3 Recent Developments
             13.9.4 MnM View
     13.10 Climaveneta S.P.A.
             13.10.1 Business Overview
             13.10.2 Products Offered
             13.10.3 MnM View
     13.11 Hitachi Appliances Inc.
             13.11.1 Business Overview
             13.11.2 Products Offered
             13.11.3 Recent Developments
             13.11.4 MnM View
     13.12 Shuangliang ECO-Energy Systems Co. Ltd.
             13.12.1 Business Overview
             13.12.2 Products Offered
     13.13 The Linde Group
             13.13.1 Business Overview
             13.13.2 Products Offered
             13.13.3 MnM View
     13.14 Midea Group
             13.14.1 Business Overview
             13.14.2 Products Offered
     13.15 GEA Group
             13.15.1 Business Overview
             13.15.2 Products Offered
             13.15.3 SWOT Analysis
             13.15.4 MnM View

14 Appendix (Page No. - 163)
     14.1 Insights From Industry Experts
     14.2 Discussion Guide
     14.3 Introducing RT: Real-Time Market Intelligence
     14.4 Available Customizations
     14.5 Related Reports


List of Tables (79 Tables)

Table 1 Chillers Market Size, By Region, 2014–2021 (USD Million)
Table 2 Chillers Market, By Type
Table 3 Chillers Market, By End-Use Industry
Table 4 Trends and Forecast of GDP, USD Billion, (2015–2021)
Table 5 Per Capita GDP vs Per Capita Chillers Demand, 2015
Table 6 Trends and Forecast of Pharmaceutical Industry in Asia-Pacific, 2014–2021 (USD Billion)
Table 7 Chillers Market, By Capacity Range (Kw Million), 2014–2021
Table 8 Scroll Chillers Market Size, By Region, 2014–2021 (USD Million)
Table 9 Screw Chillers Market Size, By Region, 2014–2021 (USD Million)
Table 10 Centrifugal Chillers Market Size, By Region, 2014–2021 (USD Million)
Table 11 Reciprocating Chillers Market Size, By Region, 2014–2021 (USD Million)
Table 12 Absorption Chillers Market Size, By Region, 2014–2021 (USD Million)
Table 13 Chillers Market, By End-Use Industry, 2014–2021 (USD Million)
Table 14 Chillers Market in Plastics End-Use Industry, By Region, 2014–2021 (USD Million)
Table 15 Chillers Market in Food & Beverage End-Use Industry, By Region, 2014–2021 (USD Million)
Table 16 Chillers Market in Chemicals & Petrochemicals End-Use Industry, By Region, 2014–2021 (USD Million)
Table 17 Chillers Market in Rubber End-Use Industry, By Region, 2014–2021 (USD Million)
Table 18 Chillers Market in Medical & Pharmaceutical End-Use Industry, By Region, 2014–2021 (USD Million)
Table 19 Chillers Market in Others End-Use Industry, By Region, 2014–2021 (USD Million)
Table 20 Chillers Market, By Region, 2014–2021 (USD Million)
Table 21 North America: Chillers Market Size, By Country, 2014–2021 (USD Million)
Table 22 North America: Chillers Market Size, By Type, 2014–2021 (USD Million)
Table 23 North America: Chillers Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 24 U.S.: Chillers Market Size, By Type, 2014–2021 (USD Million)
Table 25 U.S.: Chillers Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 26 Canada: Chillers Market Size, By Type, 2014–2021 (USD Million)
Table 27 Canada: Chillers Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 28 Mexico: Chillers Market Size, By Type, 2014–2021 (USD Million)
Table 29 Mexico: Chillers Market Size, By End-Use Industry, 2014–2021 (USD Million)
Table 30 Asia-Pacific Chillers Market Size, By Country, 2014–2021 (USD Million)
Table 31 Asia-Pacific Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 32 Asia-Pacific Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 33 China Chillers Market, By Type, 2014-2021 (USD Million)
Table 34 China Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 35 India Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 36 India Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 37 Japan Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 38 Japan Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 39 South Korea Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 40 South Korea Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 41 Indonesia Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 42 Indonesia Chillers Market, By End-Use Industry, 2014-2021 (USD Million)
Table 43 Thailand Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 44 Thailand Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 45 Taiwan Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 46 Taiwan Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 47 Europe Chillers Market Size, By Country, 2014–2021 (USD Million)
Table 48 Europe Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 49 Europe Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 50 Germany Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 51 Germany Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 52 France Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 53 France Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 54 Italy Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 55 Italy Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 56 Russia Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 57 Russia Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 58 U.K. Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 59 U.K. Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 60 Turkey Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 61 Turkey Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 62 Middle East & Africa Chillers Market Size, By Country, 2013–2020 (USD Million)
Table 63 Middle East & Africa Chillers Market, By Type, 2014-2021 (USD Million)
Table 64 Middle East & Africa Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 65 Saudi Arabia Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 66 Saudi Arabia Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 67 UAE Chillers Market Size, By Types, 2014-2021 (USD Million)
Table 68 UAE Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 69 Qatar Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 70 Qatar Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 71 South Africa Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 72 South Africa Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 73 Latin America Chillers Market Size, By Country, 2014–2020 (USD Million)
Table 74 Latin America Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 75 Latin America Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 76 Brazil Chillers Market Size, By Type, 2014-2021 (USD Million)
Table 77 Brazil Chillers Market Size, By End-Use Industry, 2014-2021 (USD Million)
Table 78 Expansions, Joint Ventures, and Acquisitions, 2011-2016
Table 79 New Product Launches, 2011-2016


List of Figures (73 Figures)

Figure 1 Chillers Market Segmentation
Figure 2 Years Considered for the Study
Figure 3 Chillers Market: Research Design
Figure 4 Breakdown of Primary Interviews, By Company Type, Designation, and Region
Figure 5 Market Size Estimation Methodology: Bottom-Up Approach
Figure 6 Market Size Estimation Methodology: Top-Down Approach
Figure 7 Data Triangulation Methodology
Figure 8 Limitations of the Research Study
Figure 9 Plastics Was the Largest Application Segment in Chillers Market, in Terms of Value, 2015
Figure 10 Asia-Pacific is Expected to Dominate Chillers Market During Forecast Period
Figure 11 Chillers Market Size, By Country, 2015, (USD Million)
Figure 12 Chillers Market Share (Value), By Region, 2015
Figure 13 Attractive Market Opportunities in Chillers Market (USD Billion)
Figure 14 Chemicals & Petrochemicals is Expected to Be the Fastest-Growing Application Between 2016 and 2021
Figure 15 China: the Largest Market in Asia-Pacific
Figure 16 Asia-Pacific Accounted for the Largest Share in Chillers Market, 2015
Figure 17 Absorption Chillers is Estimated to Witness the Highest CAGR
Figure 18 Chillers Market in Asia-Pacific is in Growth Phase
Figure 19 Chillers Market, By Region
Figure 20 Chillers Market Dynamics
Figure 21 Overview of Chillers Market Value Chain
Figure 22 Porter’s Five Forces Analysis: Chillers Market
Figure 23 Steel Price Analysis
Figure 24 Trends and Forecast of GDP, USD Billion (2016–2021)
Figure 25 Per Capita GDP vs Per Capita Chillers Demand
Figure 26 Trends and Forecast of Pharmaceutical Industry in Asia-Pacific, 2015 vs 2021 (USD Billion)
Figure 27 Chillers Market By Capacity Range
Figure 28 Chillers Market, By Type
Figure 29 Absorption Chillers to Be the Fastest-Growing Type in Chillers Market Between 2016 and 2021
Figure 30 Asia-Pacific to Be the Largest Scroll Chillers Market Between 2016 and 2021
Figure 31 Asia-Pacific to Be the Largest Screw Chillers Market Between 2016 and 2021
Figure 32 Asia-Pacific is the Fastest-Growing Region in Centrifugal Chillers Market Between 2016 and 2021
Figure 33 Asia-Pacific Reciprocating Chillers Market is Projected to Register the Highest CAGR Between 2016 and 2021
Figure 34 Asia-Pacific Reciprocating Chillers Market is Projected to Register the Highest CAGR Between 2016 and 2021
Figure 35 Chemicals & Petrochemicals is the Fastest-Growing End-Use Industry in Chillers Market
Figure 36 Asia-Pacific is the Fastest-Growing Region in Plastics End-Use Industry
Figure 37 Asia-Pacific is the Largest Regional Segment in Food & Beverage Industry
Figure 38 Asia-Pacific is the Largest Regional Segment in Chemicals & Petrochemicals Industry
Figure 39 Middle East & Africa is the Second Fastest-Growing Region in Rubber Industry
Figure 40 Asia-Pacific is Largest Regional Segment in Medical & Pharmaceutical Industry
Figure 41 Others End-Use Industry Segment in Asia-Pacific is Projected to Grow at Highest CAGR During Forecast Period
Figure 42 India, China, Japan, and Brazil are Emerging as Strategic Destinations
Figure 43 U.S. is the Key Market for Top 3 End-Use Industries of Chillers in North America
Figure 44 U.S. Dominates the Chillers Market in North America
Figure 45 Asia-Pacific Expected to Be the Largest Market for Chillers: Regional Snapshot (2015)
Figure 46 China to Remain the Leading Market for Chillers in Asia-Pacific Till 2021
Figure 47 Europe Market for Chillers: Regional Snapshot (2015)
Figure 48 Saudi Arabia is the Largest Consumer of Chillers in the Middle-East & Africa
Figure 49 Brazil is the Largest Market for Chillers in Latin America
Figure 50 Companies Adopted Expansions, Joint Ventures, and Acquisitions as the Key Strategies, 2011-2016
Figure 51 Daikin Industries Ltd. and Johnson Controls Dominated the Chillers Market, 2015
Figure 52 Revenue Pocket Matrix, By Type
Figure 53 Revenue Pocket Matrix, By End-Use Industries
Figure 54 Battle for Market Share: New Product Launches, 2011-2016
Figure 55 Regional Revenue Mix of Major Players
Figure 56 Daikin Industries Ltd.: Company Snapshot
Figure 57 Daikin Industries Ltd.: SWOT Analysis
Figure 58 Carrier Corporation: Company Snapshot
Figure 59 Trane Inc.: Company Snapshot
Figure 60 Trane Inc.: SWOT Analysis
Figure 61 Johnson Controls: Company Snapshot
Figure 62 Johnson Controls Inc.: SWOT Analysis
Figure 63 Smardt Chiller Group Inc.: Company Snapshot
Figure 64 Broad Air Conditioning Co. Ltd.: Company Snapshot
Figure 65 Thermax Ltd.: Company Snapshot
Figure 66 Polyscience: Company Snapshot
Figure 67 Climaveneta S.P.A.: Company Snapshot
Figure 68 Hitachi Appliances Inc.: Company Snapshot
Figure 69 Shuangliang ECO-Energy Systems Co. Ltd.: Company Snapshot
Figure 70 The Linde Group: Company Snapshot
Figure 71 Midea Group: Company Snapshot
Figure 72 GEA Group: Company Snapshot
Figure 73 GEA Group: SWOT Analysis

The global chillers market size is estimated to reach USD 10.84 Billion by 2021 at a CAGR of 4.24%. The chillers market is driven by the increasing process cooling needs in industrial applications and stringent environmental regulations driving the demand for chillers. Moreover, factors such as increasing population and rising consumption of frozen food are also contributing significantly to the increase in refrigeration equipment market.

Different types of chillers are also included in the report. The main types are screw, scroll, centrifugal, absorption, and reciprocating. Scroll chillers accounted for the largest-market share due to their suitability with wide application areas. Absorption are the fastest-growing type of chillers due to its low maintenance and manufacturing cost. These chillers are expected to grow with the highest CAGR between 2016 and 2021 due to their low operating cost and high efficiency.

Chillers are used in various end-use industries such as chemicals & petrochemicals, plastics, food & beverages, medical & pharmaceutical, rubber, and others. These are the main end-use industries considered in the report. In 2015, the plastics application is estimated to account for the largest market share among all the applications, in terms of value, followed by chemicals & petrochemicals, food & beverages, medical & pharmaceutical, and rubber industry. The chemicals & petrochemicals industry is estimated to register the highest CAGR between 2016 and 2021 among all the end-use industries considered.

Asia-Pacific, North America, Europe, the Middle East & Africa, and Latin America are considered the main regions of chillers market in the report. The Asia-Pacific region is dominant in the chillers market. The rising demand of chillers in this region is mainly driven by its increased use in chemicals & petrochemicals and plastics industries. Europe is the second-largest consumer and manufacturer of chillers, globally. The market in this region is mainly driven by the growing opportunities from food & beverages and also from the growing chemicals industry. Food & beverages and chemicals & petrochemicals are the top 2 end-use industries contributing to the growing demand for chillers in Europe. The Middle East & Africa is the second fastest-growing region after Asia-Pacific due to the growing chemicals & petrochemicals industry, increased chillers usage in water treatment plants, and refinery applications.

Chillers Market

Though the chillers market is growing at a significant rate, few factors such as high price of raw materials, shift of end-use market from developed countries to the developing countries, and rising cost of production hinder the growth of the market, globally.

However, Johnson Controls (U.S.), Carrier Corporation (U.S.), and so on are the leading companies, with an excellent foothold in the U.S. These companies are expected to account for a significant market share in the near future. Entering into related industries and targeting new markets will enable the chillers manufacturers to overcome the effects of volatile economy, leading to diversified business portfolio and increase the revenue. Other major manufacturers of chillers are Daikin Industries Ltd. (Japan), Trane Inc. (Ireland), Smardt Chiller Group (Canada), Thermax Inc. (India), and Climaveneta S.p.A. (Italy).

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