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North American Refrigeration Chillers Markets
Frost & Sullivan, Aug 2005
Market Participants Must Tackle Manpower-related Concerns to Sustain Consistent Efficiency Rates
The shortage of qualified technicians at both installation and manufacturing stages could adversely affect the mature refrigeration chillers markets in North America. Tackling this situation is crucial for efficiency of innovation and service-related activities of these systems, and accordingly manufacturers should hire younger technicians who would be associated with the field for a longer duration. While there is a high requirement for technically qualified employees (around 32,000 vacancies in the market), companies should avoid hiring personnel with insufficient experience that could be damaging in the long run.
This Frost & Sullivan research service provides an overview of and an outlook for the North American refrigeration chiller markets, detailing revenue forecasts by region and segments as well as providing market share analyses. It segments these chillers into air-cooled and water-cooled ones, simultaneously focusing on their usage (industrial and commercial purposes). This information is valuable for both large and small market participants seeking to position themselves for maximum return on investment.
Replacement Opportunities Drive the Refrigeration Chillers Markets
The Montreal Protocol necessitated the phasing out of chillers using chlorofluorocarbon (CFC) and hydro chlorofluorocarbon, points out the analyst of this research service. Further, in 1996 the U.S. Government has banned manufacturing of the CFC components, creating a need for retrofitting or replacing around 80000 non-residential CFC chillers. The heavy rate of replacements has brought the number down to 34000 by 2004. As it would take almost 10 years to completely substitute the CFC chillers in the markets, the replacement requirements are likely to drive the demand for refrigeration chillers during this period.
Demand for Environmental-friendly Refrigeration Equipment to Spur Market Growth
The North American refrigeration chiller markets are undergoing a noticeable tilt toward air-cooled chillers from the water-cooled ones. Simultaneously, end users are also becoming increasingly aware of the environmental hazards involved in the refrigeration processes and are insisting on products that are eco-friendly, says the analyst. Along with meeting this requirement, market participants are also focusing on making technological advances - with particular focus on compressor design and circulation controls - to improve the overall process efficiencies.
Overall, the lack of proper investments in both the commercial and the industrial sectors during the economically unstable period of 2001 and 2002 forced clients to delay their purchases. With the resultant rise in aging equipment, the markets experienced a growth in the opportunities for replacements and conversions, while the superior efficiency and energy saving solutions offered by the latest systems provided the additional impetus. Meeting the demand from the building construction segments would be crucial for the steady growth of the highly competitive and mature refrigeration chiller markets.
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