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Chillers Market - Global Industry Analysis, Size, Share, Growth, Forecast 2016 - 2024

Global Chillers Market: Overview Chillers are refrigeration devices used to cool equipment, raw materials, or fluid streams in industrial applications, as well as food and beverages in residential and commercial applications. The most important att
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Chillers Market - Global Industry
Analysis, Size, Share, Growth, Trends,
and Forecast 2016 - 2024
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Global Chillers Market: Overview
Chillers are refrigeration devices used to cool equipment, raw materials, or fluid streams in industrial applications, as well as
food and beverages in residential and commercial applications. The most important attributes of chillers are their durability,
efficiency, and low environmental impact. The global market for chillers has been driven in recent years by the rapid spread of
industrialization across the world and the booming chemicals and food and beverage industries.
The report examines the global chillers market and presents forecasts regarding its development from 2016 to 2024. The
historical trajectory exhibited by the chillers market before 2016 has also been scrutinized in the report in order to provide
concrete context to the analysis of the market’s drivers and restraints. The key segments of the global chillers market are
examined in the report to provide a granular overview of the market, and major companies operating in the market have been
profiled to shed light on the competitive dynamics of the market. The comprehensive market study will allow market
participants to formulate winning strategies in the coming years.
The major product types in the global chillers market are screw, scroll, reciprocating, absorption, and centrifugal chillers. Major
applications of chillers include but are not limited to chemicals, plastics, petrochemicals, food and beverage, rubber, and
Global Chillers Market: Drivers and Restraints
The increasing need for cooling equipment in industrial units is a prime driver of the global chillers market. The industrial sector
in developing countries such as China, India, Indonesia, South Korea, Thailand, Brazil, Argentina, and Mexico has shown an
exemplary rate of growth in the last few decades, expanding in line with the growing GDP of these countries. This has driven the
demand for various ancillary industries, including the chillers industry.
Another major driver for the global chillers market is the increasing consumption of frozen food. In contrast to the traditional
way of cooking elaborate meals, the modern consumer is eager to cut down the time required to prepare a meal. As a result,
demand for frozen food has grown at strong rates in various parts of the world thus driving the global chillers market. The
increasing number of women in the corporate and industrial sectors has also complemented this phenomenon, since women
have traditionally held the role of the homemaker.
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The increasingly stringent environmental regulations in various parts of the world are driving innovation in the global chillers
market. Several chemicals used in the refrigeration process have the potential to damage the environment, the result of which
has been a spate of new, ecologically viable chillers from major players around the world.
On the other hand, the major restraint on the global chillers market is the increase in the production cost brought about by
increasing raw material prices.
Global Chillers Market: Geographical Overview
Asia Pacific is the largest regional market for chillers. The demand for chillers in this region is driven by the increasing demand
from the plastics and petrochemicals industries. The expanding industrial sector in developing Southeast Asian countries is likely
to add to the demand for chillers in the coming years.
China is already a major petrochemicals industry hub, while both India and China have flourishing manufacturing sectors that
receive strong support from the respective governments. This is likely to boost the demand for chillers in Asia Pacific in the
coming years. The Middle East and Africa is another developing region likely to offer a strong sales outlet for the global chillers
market in the coming years.
The major players in the global chillers market are Johnson Controls, Carrier Corporation, Daikin Industries, Smardt Chiller Group,
Climaveneta S.p.A., Trane Inc., and Thermax Inc.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and
verifiable projections about market size. The projections featured in the report have been derived using proven research
methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every
facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis
The regional analysis covers:
North America (U.S. and Canada)
Latin America (Mexico, Brazil, Peru, Chile, and others)
Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, Luxembourg)
Eastern Europe (Poland, Russia)
Asia Pacific (China, India, Japan, ASEAN, Australia and New Zealand)
Middle East and Africa (GCC, Southern Africa, North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned
analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The
report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and
market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and
mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment
over the forecast period.
Highlights of the report:
A complete backdrop analysis, which includes an assessment of the parent market
Important changes in market dynamics
Market segmentation up to the second or third level
Historical, current, and projected size of the market from the standpoint of both value and volume
Reporting and evaluation of recent industry developments
Market shares and strategies of key players
Emerging niche segments and regional markets
An objective assessment of the trajectory of the market
Recommendations to companies for strengthening their foothold in the market
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