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 and 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 and Industry Analysis, By Type (Scroll, Screw, Centrifugal), By Capacity (0 100 Kw, 101 350 Kw, 351 700 Kw, >700 Kw), By Industry (Plastic and Rubber, Food and Beverage, Chemical and 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:
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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:
Key Segments within the Market
1. By Type
2. By Capacity (In Kw)
3. By Industry
4. By Region
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Rising Need to Improve Industrial Processes Will Propel Growth
In the early 1900s, utilization of the first centrifugal chiller gradually gave rise to the extensive usage of water chillers. Components, such as refrigerants, compressors, condensers, and evaporators, are used in water chillers to enhance the industrial processes and to prevent the hampering of the cooling process. Apart from that, the crucial parameters of chillers, namely, the requirement of small space, vibration-less operation, lower maintenance cost, and high thermal conductivity of water, are anticipated to augment the water chillers market growth during the forthcoming period.
Rising Demand for Frozen Food Items to Favor Growth in Asia Pacific
In terms of region, the market is segregated into Latin America, North America, Asia Pacific, the Middle East and Africa, and Europe. Amongst these, Asia Pacific is expected to showcase the highest CAGR owing to the expansion of the industrial sector in this region. Besides, the awareness programs regarding energy-efficient products are increasing. Coupled with this, the rising demand for frozen food would also accelerate the growth of this market. Besides, the pre-existing market players present in this region are aiming to improve their businesses owing to the availability of numerous industrial projects.
Europe, on the other hand, is projected to grow considerably by acquiring a high water chillers market revenue. This growth is attributable to the presence of various industry giants, namely, Panasonic Corporation, Daikin Industries, Ltd., and Carrier Corporation in this region. Also, the ongoing technological advancements would contribute to the growth. North America is set to experience significant growth in the coming years backed by the increasing utilization of water chillers in the petroleum and food and beverage industries.
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Table of Content5. Global Water Chillers Market Analysis, Insights and Forecast, 2015-20265.1. Key Findings / Summary5.2. Market Sizing Estimations and Forecasts By Type (Value)5.2.1. Scroll5.2.2. Screw5.2.3. Centrifugal5.3. Market Sizing Estimations and Forecasts By Capacity (In Kw) (Value)5.3.1. 0 – 1005.3.2. 101 – 3505.3.3. 351 – 7005.3.4. >7005.4. Market Sizing Estimations and Forecasts By Industry (Value)5.4.1. Plastic and Rubber5.4.2. Food and Beverage5.4.3. Chemical and Petrochemical5.4.4. Pharmaceuticals5.4.5. Other (Metal Forming, etc.)5.5. Market Analysis, Insights and Forecast By Region (Value)5.5.1. North America5.5.2. Europe5.5.3. Asia Pacific5.5.4. Middle East and Africa5.5.5. Latin America6. North America Water Chillers Market Analysis, Insights and Forecast, 2015-20266.1. Key Findings / Summary6.2. Market Sizing Estimations and Forecasts By Type (Value)6.2.1. Scroll6.2.2. Screw6.2.3. Centrifugal6.3. Market Sizing Estimations and Forecasts By Capacity (In Kw) (Value)6.3.1. 0 – 1006.3.2. 101 – 3506.3.3. 351 – 7006.3.4. >7006.4. Market Sizing Estimations and Forecasts By Industry (Value)6.4.1. Plastic and Rubber6.4.2. Food and Beverage6.4.3. Chemical and Petrochemical6.4.4. Pharmaceuticals6.4.5. Other (Metal Forming, etc.)6.5. Market Analysis, Insights and Forecast By Country (Value)6.5.1. U. S.6.5.2. Canada7. Europe Water Chillers Market Analysis, Insights and Forecast, 2015-20267.1. Market Sizing Estimations and Forecasts By Type (Value)7.1.1. Scroll7.1.2. Screw7.1.3. Centrifugal7.2. Market Sizing Estimations and Forecasts By Capacity (In Kw) (Value)7.2.1. 0 – 1007.2.2. 101 – 3507.2.3. 351 – 7007.2.4. >7007.3. Market Sizing Estimations and Forecasts By Industry (Value)7.3.1. Plastic and Rubber7.3.2. Food and Beverage7.3.3. Chemical and Petrochemical7.3.4. Pharmaceuticals7.3.5. Other (Metal Forming, etc.)7.4. Market Analysis, Insights and Forecast By Country (Value)7.4.1. U.K.7.4.2. Germany7.4.3. France7.4.4. Rest of Europe8. Asia Pacific Water Chillers Market Analysis, Insights and Forecast, 2015-20268.1. Key Findings / Summary8.2. Market Sizing Estimations and Forecasts By Type (Value)8.2.1. Scroll8.2.2. Screw8.2.3. Centrifugal8.3. Market Sizing Estimations and Forecasts By Capacity (In Kw) (Value)8.3.1. 0 – 1008.3.2. 101 – 3508.3.3. 351 – 7008.3.4. >7008.4. Market Sizing Estimations and Forecasts By Industry (Value)8.4.1. Plastic and Rubber8.4.2. Food and Beverage8.4.3. Chemical and Petrochemical8.4.4. Pharmaceuticals8.4.5. Other (Metal Forming, etc.)8.5. Market Analysis, Insights and Forecast By Country (Value)8.5.1. China8.5.2. India8.5.3. South Korea8.5.4. Rest of Asia PacificTOC Continued…..!
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