November 29, 2022

According to the research, on “Centrifugal Chillers Market research report encompasses a thorough study of the current situation of the global market along with several market dynamics. To formulate this report, detailed analysis has been performed with inputs from industry experts. Depending on the client’s demand, a huge amount of business and market-related information has been brought together via this report that eventually helps businesses create better strategies. All of these features are strictly applied while building this Global Centrifugal Chillers Market research report for a client. It gives an explanation about various definitions and segmentation or classifications of the industry, applications of the industry, and value chain structure

Key Industry Developments

  • March 2020: DAIKIN APPLIED introduced two new chillers at AHR Expo. The Aptitude™ oil bearing centrifugal chiller and Magnitude® magnetic bearing centrifugal chiller are ultra-high efficiency chillers.
  • November 2019: Johnson Controls announced the acquisition of Synchrony. Synchrony develops Active Magnetic Bearing (AMB) technology for centrifugal chillers. This acquisition will enhance the performance and efficiency of the products sold by the company.

The report aims to provide the whole scenario of Centrifugal Chillers Market market so that clients can easily understand the market driver, restrain, opportunities, and threats that help them make decisions and make strategies for their business plan to determine pricing strategies. The report provides competitor pricing position, segment, pricing capability, and competitor reaction strategy by understanding customer buying behaviour analysis historical data and other data.

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A few top players in the industry are

  • Blue Star Limited
  • Aermec
  • Carrier Corporation
  • Motivair
  • Klima-Therm Ltd. 
  • Arctic Chiller Group, Ltd.
  • Thermal Care, Inc.
  • Trane (Ingersoll Rand)

Porter’s five forces business model is used to measure competitor intensity, attractiveness, and market profitability. Primary and secondary research is done to get more profound knowledge of Primary market research through survey, can make a habit of people region inquiring. Secondary research can be done through magazines, books, market research reports, public availability, and access to information.

The major region includes

  • North America (United States, Canada and Mexico)
  • Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
  • Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)
  • South America (Brazil, Argentina, Colombia, and Rest of South America)
  • Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The growing number of Centrifugal Chillers Market players across regions is expected to drive market growth further. Moreover, increasing investments by prominent vendors in product capabilities and business expansion is expected to fuel the market during the study period. Many market players are finding lucrative opportunities in emerging economies like China and India, where the large populations are coupled with new innovations in numerous industries.

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Booming Demand for Buildings & Construction to Aid Market Growth

The exponential growth of urban areas witnessed over the past few decades has surged the demand for buildings and construction projects in major parts of the world. A recent report by Oxford Economics predicts that global construction output is set to increase by 85% and reach an estimated value of USD 15.5 trillion by 2030. China, India, and the US will spearhead this growth, the report highlights, with India’s construction industry growing twice as fast as that of China. Expanding urban areas, characterized by a lack of green cover and rampant pollution, are experiencing an urgent need for energy-efficient cooling solutions for large spaces and structures. Centrifugal chillers have emerged as the optimal solution as these systems are optimized to produce a cooling effect much higher than the required energy input.

With the demand for high-load cooling escalating worldwide, the development of advanced chillers has gained momentum over the past few years. Several companies in the heating, ventilation, and cooling (HVAC) industry have been engineering centrifugal chillers to cater to the growing demand for energy-efficient air-conditioning solutions. For example, in December 2020, Danfoss announced that it has been expanding its Turbocor® portfolio to include the company’s maiden oil-free compressors for high-lift applications. These compressors are designed to bolster support for chillers and heat pumps and make them more efficient. Similarly, in March 2019, Trane introduced its high-speed magnetic centrifugal chillers in Mumbai, with a view to serve the country’s rising demand for sustainable solutions. The development and availability of such energy-efficient products are emerging as two of the most prominent growth drivers for this market.

Market Segmentation

Based on type, this market has been bifurcated into air-cooled and water-cooled. On the basis of tonnage, the market has been divided into less than 1000, 1000-2000, and more than 2000. In terms of industry, the market has been grouped into food & beverage, pharmaceutical, plastics, chemicals & petrochemicals, data centers, and others. By geography, the market has been segregated into North America, Europe, Asia Pacific, the Middle East & Africa, and Latin America.

The Global Centrifugal Chillers Market size report provides answers to the following key questions:

  • Which are Trending factors influencing the market shares of the top regions across the globe? What is the impact of Covid19 on the current industry?
  • What is economic impact on market?
  • When is the recovery expected from the pandemic?
  • Which segments offer high-growth opportunities in the long run?
  • What are the key outcomes of the five forces analysis of the global market?
  • What are sales, revenue, and price analysis by regions of this market?

Highlights of the Global Centrifugal Chillers Market Report:

  • Market Development: Comprehensive information about emerging industry. This report analyses for various segments across geographies
  • Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the market
  • Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the industry.
  • Market Diversification: Exhaustive information about new launching, untapped geographies, recent developments, and investments in the market

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