Increase in demand for energy-efficient cooling solutions across industries such as plastic, chemical & petrochemical, rubber & others drives the global chiller market. However, high cost associated with electricity restraints the market growth. Technological advancements are expected to create potential business opportunities for the industry in the near future.
The global chiller market is segmented based on type, end user, and geography. The type segment includes screw, scroll, centrifugal, absorption, and reciprocating chillers. The end user segment comprises industries such as chemicals & petrochemicals, food & beverages, plastics, rubber, and medical & others. Geographically, the market is classified into North America, Europe, Asia-Pacific, and LAMEA. Scroll chiller has gained widespread popularity in the market owing to its extensive usage in wide application areas. The absorption chiller segment is expected to report a relatively faster growth, owing to its low maintenance and manufacturing cost, which have increased its penetration among consumers.
The players profiled in the report are Daikin Industries Ltd., Johnson Controls, Trane Inc., Carrier Corporation, Smartd Chiller Group Inc., Thermax Ltd., Hitachi Appliances Inc., Climaveneta S.P.A., Polyscience, and Dimplex Thermal Solutions.
Other players included in the value chain are Thermal Care Inc., BV Thermal Systems, Temptek Inc., Advantage Engineering Inc., Broad Air Conditioning Co. Ltd., Hyundai Climate Control Co., Ltd., Robur Group, Yazaki Corporation, and Kawasaki Thermal Eng. Co. Ltd.
POTENTIAL BENEFITS FOR STAKEHOLDERS
A comprehensive analysis of the current and future market trends in the global chiller market to identify the potential investment pockets is discussed.
The report provides impact analysis of key market growth drivers, restraints, and opportunities.
Quantitative analysis of the market from 2014 to 2022 is provided to showcase the financial scenario and chiller industry growth.
Porter’s Five Forces model illustrates the potency of the buyers & suppliers who participate in the market.
1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology
1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools And Models
Chapter 2 Executive Summary
2.1. CXO Perspective
Chapter 3 Market Overview
3.1. Market Definition And Scope
3.2. Key Findings
3.2.1. Top Winning Strategies
3.2.2. Top Investment Pockets
3.3. Porters Five Forces Analysis
3.3.1. High Bargaining Power Of Buyers
3.3.2. Moderate Bargaining Power Of Suppliers
3.3.3. Low Threat Of Substitution
3.3.4. Low Threat Of New Entrant
3.3.5. High Competitive Rivalry
3.4. Market Players Positioning, 2015
3.5. Market Dynamics
22.214.171.124. Growth In Commercial & Industrial Sectors
126.96.36.199. Increased Consumption Of Frozen Foods
188.8.131.52. High Electricity Cost
184.108.40.206. Technological Advancement
Chapter 4 Global Chiller Market, By Type
4.1.1. Market Size And Forecast
4.2. Scroll Chiller
4.2.1. Key Market Trends
4.2.2. Growth Factors And Opportunities
4.2.3. Market Size And Forecast
4.3. Screw Chiller
4.3.1. Key Market Trends
4.3.2. Growth Factors And Opportunities
4.3.3. Market Size And Forecast
4.4. Centrifugal Chiller
4.4.1. Key Market Trends
4.4.2. Growth Factors And Opportunities
4.4.3. Market Size And Forecast
4.5. Absorption Chiller
4.5.1. Key Market Trends
4.5.2. Growth Factors And Opportunities
4.5.3. Market Size And Forecast
4.6. Reciprocating Chiller
4.6.1. Key Market Trends
4.6.2. Growth Factors And Opportunities
4.6.3. Market Size And Forecast
Chapter 5 Chiller Market, By End User
5.1. Chemicals & Petrochemicals
5.1.1. Key Market Trends
5.1.2. Market Size And Forecast
5.2. Food & Beverages
5.2.1. Key Market Trends
5.2.2. Market Size And Forecast
5.3.1. Key Market Trends
5.3.2. Market Size And Forecast
5.4.1. Key Market Trends
5.4.2. Market Size And Forecast
5.5. Medical & Others
5.5.1. Key Market Trends
5.5.2. Market Size And Forecast
Chapter 6 Chiller Market, By Geography
6.1.1. Market Size And Forecast
6.2. North America
6.2.1. Key Market Trends
6.2.2. Growth Factors And Opportunities
6.2.3. Market Size And Forecast
220.127.116.11. Market Size And Forecast
18.104.22.168. Market Size And Forecast
22.214.171.124. Market Size And Forecast
6.3.1. Key Market Trends
6.3.2. Growth Factors And Opportunities
6.3.3. Market Size And Forecast
126.96.36.199. Market Size And Forecast
188.8.131.52. Market Size And Forecast
184.108.40.206. Market Size And Forecast
6.3.7. Rest Of Europe
220.127.116.11. Market Size And Forecast
6.4.1. Key Market Trends
6.4.2. Growth Factors And Opportunities
6.4.3. Market Size And Forecast
18.104.22.168. Market Size And Forecast
22.214.171.124. Market Size And Forecast
126.96.36.199. Market Size And Forecast
6.4.7. Rest Of Asia-Pacific
188.8.131.52. Market Size And Forecast
6.5.1. Key Market Trends
6.5.2. Growth Factors And Opportunities
6.5.3. Market Size And Forecast
184.108.40.206. Market Size And Forecast
220.127.116.11. Market Size And Forecast
6.5.6. Rest Of Lamea
18.104.22.168. Market Size And Forecast
Chapter 7 Related Industry Insights
7.1. Absorption Chiller Market
7.2. Microwave Oven Market
Chapter 8 Company Profiles
8.1. Climaveneta S.P.A.
8.1.1. Company Overview
8.1.2. Operating Business Segments
8.1.3. Business Performance
8.1.4. Key Strategic Moves And Developments
8.2. Carrier Corporation
8.2.1. Company Overview
8.2.2. Operating Business Segments
8.2.3. Business Performance
8.2.4 Key Strategic Moves And Developments
8.3. Trane Inc.
8.3.1. Company Overview
8.3.2. Operating Business Segments
8.3.3. Business Performance
8.3.4. Key Strategic Moves And Developments
8.4. Daikin Industries Ltd.
8.4.1. Company Overview
8.4.2. Operating Business Segments
8.4.3. Business Performance
8.4.4. Key Strategic Moves And Developments
8.5. Johnson Controls
8.5.1. Company Overview
8.5.2. Operating Business Segments
8.5.3. Business Performance
8.5.4. Key Strategic Moves And Developments
8.6. Smartd Chiller Group Inc.
8.6.1. Company Overview
8.6.2. Operating Business Segments
8.6.3. Business Performance
8.6.4. Key Strategic Moves And Developments
8.7. Thermax Ltd.
8.7.1. Company Overview
8.7.2. Operating Business Segments
8.7.3. Business Performance
8.7.4. Key Strategic Moves And Developments
8.8. Hitachi Appliances Inc.
8.8.1. Company Overview
8.8.2. Operating Business Segments
8.8.3. Business Performance
8.8.4. Key Strategic Moves And Developments
8.9.1. Company Overview
8.9.2. Operating Business Segments
8.9.3. Business Performance
8.9.4. Key Strategic Moves And Developments
8.10. Dimplex Thermal Solutions
8.10.1. Company Overview
8.10.2. Operating Business Segments
8.10.3. Business Performance
8.10.4. Key Strategic Moves And Developments
Other Players In The Value Chain Include
Thermal Care Inc.
Bv Thermal Systems
Advantage Engineering Inc.
Broad Air Conditioning Co. Ltd.
Hyundai Climate Control Co., Ltd.
Kawasaki Thermal Eng. Co. Ltd.
Various types of chillers are used by industries and commercial sectors as per their requirement. The market for chillers has grown significantly in the past few years due to expansion in commercial and industrial sectors. Commercial sectors, such as large retails, are highly dependent on chillers to store food items. Industrial sectors, such as plastics industry, exhibit huge demand for chillers to cool down their equipment & machineries.
The global chiller market growth is driven by factors such as increased consumption of frozen foods, and high demand for energy-efficient cooling solutions across industries such as plastic, rubber, & chemical. Technological advancements provide growth opportunities to the market players. However, high electricity cost is one of the major challenges for the market growth.
Scroll chillers dominate the market, owing to their extensive usage in industries and other wide application areas due to their high-efficiency and availability in various compact sizes. Screw chiller, the second largest segment, generated around 28% of the global chiller market revenue in 2015, and is expected to grow at a CAGR of 4.3% during the forecast period. These chillers produce low noise, thus gaining popularity in sound-sensitive environment such as offices, and hospitals.
Plastic industry accounted for the largest market share of around 27% in 2015, whereas the chemicals & petrochemicals industry segment is projected to grow at the highest CAGR of 5.4% during (2016 2022). Food & beverages industry is amongst other major end users of chillers. In the industry, chillers are increasingly being used in food & beverage processing plants including dairy processing plants, bakeries, breweries & microbreweries and other application areas.
KEY FINDINGS OF THE CHILLER MARKET STUDY
Absorption chiller is expected to grow at the highest CAGR of 6.1% from 2016 to 2022.
Asia-Pacific is projected to maintain its lead position, growing at a CAGR of 4.7% during the forecast period.
The screw chiller segment occupied around 28% of the total chiller market size in 2015.
U.S. accounted for around 68% share of the total North American chiller market revenue in 2015.
Plastic industry was the highest revenue-generating segment by end user in 2015, while chemicals & petrochemicals industry is anticipated to grow at the highest CAGR.
In 2015, Asia-Pacific and Europe collectively accounted for over two-thirds of the total chiller market size, and are expected to continue this trend, owing to growth in industrial and commercial sector.
The major companies profiled in the report include Daikin Industries Ltd., Johnson Controls, Trane Inc., Carrier Corporation, Smartd Chiller Group Inc., Thermax Ltd., Hitachi Appliances Inc., Climaveneta S.P.A., Polyscience, and Dimplex Thermal Solutions.
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.