Fact.MR’s Report on Global Process Chillers Market
In a recent business intelligence study, Fact.MR presents the nitty-gritty of the global process chillers market considering 2014-2018 as the historic year and 2019–2029 as the stipulated timeframe. The business report highlights the drivers, restraints, opportunities and trends affecting market growth. Further, all the market shares associated with the market as well as the segments are expressed in terms of value and volume.
According to a recent report by Fact.MR, the process chillers market is poised to register a steady growth during the 2018-2027 period with global sales surpassing 130,000 units in 2019. A combination of multi-pronged factors such as the burgeoning demand for food, energy, medicine and health products, construction material, and chemicals are contributing significantly to the process chillers market growth.
According to the study, end-users continue to show preference for air-cooled chiller systems over water-cooled systems. Easy installation, lower maintenance costs, and enhancements in technology supporting the efficiency of the system are fuelling air cooling chiller system sales
The process chillers market study outlines the key regions – North America, Latin America, Europe, East Asia, South Asia and Oceania – along with the countries contributing the most in the respective regions. The report presents detailed insights about each market player, including SWOT analysis, main market information, market share, revenue, pricing and gross margin. Prominent players covered in this research are Carrier Corporation (UTC), Johnson Controls International plc., GEA Group AG, Daikin Industries, Ltd and Blue Star Ltd.
The process chillers market report addresses the below-mentioned queries:
- Why are vendors shifting away from traditional methods of manufacturing process chillers market?
- How does the global process chillers market looks like in the next five years?
- Which end use industry is expected to surpass segment by the end of 2029?
- What innovative products are being introduced by the players in the global process chillers market?
- Which regions are showing the fastest market growth?
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On the basis of capacity, the process chillers market study consists of
- Upto 20 Tons
- 20 – 150 Tons
- 150 – 300 Tons
- Above 300 Tons
On the basis of end use industry, the process chillers market study incorporates:
- Plastics
- Food & Beverages
- Pharmaceutical
- Printing
- Chemical
- Energy
- Engineering & Mechanical
According to the study, manufacturers are continuously working on improving the efficiency of their product offerings. Introduction of variable frequency drives and novel, eco-friendly refrigerants are few of the latest trends in air-cooled chillers category, according to the study. The study opines that the factors will propel air-cooled chiller systems to over 102,000 units in 2019. The study opines that water-cooled chillers sales are also likely to remain steady, on the back of widespread application in a range of industries
Highlighting the innovations in the process chillers market, the report opines that production of advanced compressors is aiding in enhancing the efficiency of process chillers. Compressors play a key role in enabling end-users to alter the pressure of the refrigerant to obtain the desired temperature in a room and hence plays a vital role in the determination of the efficiency of process chillers. For instance, Danfoss launched a new compressor named Tubocor which leverages magnetic bearing and variable speed technology to offer efficient cooling while significantly reducing CO2 emissions. Additionally, the company claims the product offers high efficiency, produces lower noise, and reduces the overall operating costs.
Crucial insights in the process chillers market research:
- Underlying macro- and microeconomic factors impacting the growth of the process chillers market.
- Basic overview of the process chillers market, including market definition, classification, and applications.
- Scrutinization of each process chillers market player based on mergers & acquisitions, R&D projects, and product launches.
- Adoption trend of process chillers market across various industries.
- Important regions and countries offering lucrative opportunities to process chillers market stakeholders.
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