The global water chillers market is anticipated to gain impetus from the rising demand for district cooling over conventional cooling systems. The demand for chillers from the food and beverage, as well as the plastic & rubber industries, is also set to affect the market positively in the coming years. Fortune Business Insights™ provided this information in a recently published report, titled, “Water Chillers“ Market Size, Share & Industry Analysis, By Type (Scroll, Screw, Centrifugal), By Capacity (0 – 100 Kw, 101 – 350 Kw, 351 – 700 Kw, >700 Kw), By Industry (Plastic & Rubber, Food & Beverage, Chemical & Petrochemical, Pharmaceuticals and other) and Regional Forecast, 2019-2026.” The report further states that the global water chillers market size is projected to reach USD 7.13 billion by 2026, thereby exhibiting a CAGR of 4.4% during the forecast period. However, it stood at USD 5.07 billion in 2018.
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Fortune Business Insights™ lists out the most renowned companies operating in the water chillers market. They are as follows:
- Daikin Industries, Ltd.
- Thermax Global
- Carrier Corporation
- Toshiba Machines Co Ltd.
- Robert Bosch LLC
- Hitachi, Ltd.
- Panasonic Corporation
- Johnson Controls
- Blue Star Limited
What Does This Report Contain?
- Elaborate information about the water chillers market trends, growth drivers, hindrances, opportunities, and related challenges.
- Strategical profiling of the key players and analysis of their core competencies business strategies.
- In-depth information about the micro-markets.
- List of all the segments present in the market
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- January 2018: Johnson Controls introduced YORK YZ magnetic bearing centrifugal chiller, the first fully optimized chiller for ultimate performance with low global warming potential refrigerant R-1233zd (E).
Key Players Focus on Novel Product Launches to Gain Competitive Edge
The market consists of many small, medium, and large enterprises. Most of these enterprises are aiming to gain the maximum water-cooled chillers market share by launching new products with the help of extensive research and development activities. Below are a couple of the latest industry developments:
- January 2019: Johnson Controls, a multinational conglomerate headquartered in Ireland, announced that it has broadened the capacity range of YORK YZ magnetic bearing centrifugal chiller. It can now include up to 1,350 tons (4747 kW) of refrigeration. The old version of the product was first released in 2018. The extended capacity uses an advanced magnetic bearing, technology. This unique technology requires 80% lesser moving parts as compares to the refrigerant or traditional oil-lubricated drivelines.
- July 2018: Daikin Industries, Ltd., a Japanese multinational air conditioning manufacturing company, announced the launch of an innovative centrifugal oil-free water-cooled inverter chiller series with R-1234ze(E) and R134a refrigerants. These products would help end users and specifiers to stay one step ahead of surging energy costs and EU legislation.
Key Segments within the Market
1. By Type
2. By Capacity (In Kw)
- 351 – 700
- 101 – 350
- 0 – 100
3. By Industry
- Plastic & Rubber
- Food & Beverage
- Chemical & Petrochemical
- Other (Metal Forming, etc.)
4. By Region
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, and the Rest of Europe)
- Asia Pacific (China, India, South Korea, and the Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico, and the Rest of Latin America)
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Fortune Business Insights provides a detailed evaluation of the global market by analyzing the factors driving the market. Besides this, it also discusses some of the economic trends prevailing in the energy and power industry. These trends are analyzed in the report to see an overall impact on the global market.
The integration of internet of things with the system is a major factor anticipated to fuel the demand in the market during the forecast period 2018-2026. Additionally, rising adoption of e-financial services is expected to boost the global market.
On the contrary, high cost associated with upgraded technology is a factor that may restrain the global market.
As stated in the report, North America held a significant share in the market in 2017. The region is expected to witness impressive growth during the forecast period. Owing to intense research and development taking place in the region for IoT integration in the system is likely to enable the growth in the region. Besides this, Asia Pacific is expected to witness promising growth owing to rising adoption of sedentary lifestyle in nations such as India and China.
The report also offers insights on the key players operating in the global market
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Table of Content
5. Global Water Chillers Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Sizing Estimations and Forecasts – By Type (Value)
5.3. Market Sizing Estimations and Forecasts – By Capacity (In Kw) (Value)
5.3.1. 0 – 100
5.3.2. 101 – 350
5.3.3. 351 – 700
5.4. Market Sizing Estimations and Forecasts – By Industry (Value)
5.4.1. Plastic & Rubber
5.4.2. Food & Beverage
5.4.3. Chemical & Petrochemical
5.4.5. Other (Metal Forming, etc.)
5.5. Market Analysis, Insights and Forecast – By Region (Value)
5.5.1. North America
5.5.3. Asia Pacific
5.5.4. Middle East & Africa
5.5.5. Latin America
6. North America Water Chillers Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Sizing Estimations and Forecasts – By Type (Value)
6.3. Market Sizing Estimations and Forecasts – By Capacity (In Kw) (Value)
6.3.1. 0 – 100
6.3.2. 101 – 350
6.3.3. 351 – 700
6.4. Market Sizing Estimations and Forecasts – By Industry (Value)
6.4.1. Plastic & Rubber
6.4.2. Food & Beverage
6.4.3. Chemical & Petrochemical
6.4.5. Other (Metal Forming, etc.)
6.5. Market Analysis, Insights and Forecast – By Country (Value)
6.5.1. U. S.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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