New York, According to a new market research report published by Global Insight Services “Chillers Market” is expected to reach US$ XX bn by 2031. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Chillers are a type of air conditioning system that is used to cool large spaces such as office buildings, warehouses, and factories. They work by circulating coolant through a system of coils and refrigerant lines. The coolant absorbs heat from the air, and the refrigerant line carries it away to be cooled. The cooled air is then circulated back into the room.
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Key Trends
The main trends in chiller technology are toward more efficient and environmentally friendly units. This is being driven by a combination of factors, including stricter government regulations, higher energy costs, and a growing awareness of the need to reduce greenhouse gas emissions.
One of the most important trends is the move toward using more environmentally friendly refrigerants. Traditional chlorofluorocarbon (CFC) refrigerants are being phased out due to their impact on the ozone layer, and hydrofluorocarbon (HFC) refrigerants are taking their place. HFCs have a much lower global warming potential than CFCs, so they are a much better choice for the environment.
Another trend is toward more efficient units. This is being driven by the need to reduce energy costs and greenhouse gas emissions. Newer units are much more efficient than older ones, so they use less electricity and produce fewer emissions.
Finally, there is a trend toward using more advanced controls to optimize the performance of chillers. This includes using sensors to monitor conditions and make adjustments to the unit’s operation to ensure that it is running as efficiently as possible.
Key Drivers
The key drivers of Chillers market are as follows:
1) Increasing demand for air conditioning: The increasing demand for air conditioning is one of the key drivers of the Chillers market. As the world becomes more urbanized and the temperatures continue to rise, the demand for air conditioning is expected to increase.
2) Growing construction industry: The growing construction industry is another key driver of the Chillers market. As the construction industry expands, the demand for Chillers is expected to grow.
3) Increasing industrialization: The increasing industrialization is another key driver of the Chillers market. As industries expand and the demand for cooling increases, the demand for Chillers is expected to grow.
4) Rising living standards: The rising living standards is another key driver of the Chillers market. As people’s disposable incomes increase, the demand for Chillers is expected to grow.
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Key Market Segments
By Type
- Screw Chiller
- Scroll Chiller
- Centrifugal Chiller
- Others
By Power Range
- Less than 50 kW
- 50-200 kW
- More than 200 kW
Key Market Players
The chillers market report includes players such as Daikin Industries, Trane Technology, KKT Chillers, MTA S.P.A, Friulair S.R.L, HYDAC International, Thermax Ltd, LG Electronics, Carrier Corporation, and Midea Group Co. Ltd.
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Reasons to buy Chillers Market Report:
• Develop comprehensive understanding of market landscape – industry structure, value-chain, key players, trends, drivers, and challenges
• Drive revenue and market-entry strategy by gaining insights into which segments and geographies are largest and likely to grow fastest
• Formulate sales and marketing strategies by gaining understanding of competitors, their positioning, and strengths & weaknesses
• Develop business and M&A strategies through understanding of latest trends and emerging players in the market
• Refine your business plans by understanding impact of disruptions such as Covid-19 and Russia-Ukraine conflict on the market
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