Overview and Scope
An industrial air chiller is a device that absorbs the heat produced from industrial process water, and then the heat is transferred back to air around the chiller unit.
Sizing and Forecast
The industrial air chiller market size has grown strongly in recent years. It will grow from $4.77 billion in 2023 to $5.03 billion in 2024 at a compound annual growth rate (CAGR) of 5.3%. The growth in the historic period can be attributed to incentives and rebates, geopolitical factors, maintenance practices, industry demand shifts, refrigerant regulations..
The industrial air chiller market size is expected to see strong growth in the next few years. It will grow to $6.17 billion in 2028 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to adoption of renewable energy, after-sales services, resilience to climate change, investment in r&d, replacement cycle, urbanization and infrastructure development.. Major trends in the forecast period include energy efficiency, environmental regulations, demand from end-use industries, urbanization and infrastructure development, focus on precision cooling..
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Segmentation & Regional Insights
The industrial air chiller market covered in this report is segmented –
1) By Type: Centrifugal Chillers, Reciprocating Chillers, Scroll Compressor Chillers, Screw Driver Chillers
2) By Function: Stationary, Transport
3) By End User Industry: Food And Beverage, Pharmaceutical, Utility And Power, Oil And Gas, Other End User Industries
Top Major Players
Johnson Controls International PLC
Mitsubishi Electric Corporation
Daikin Industries Ltd.
Trane Technologies Company LLC
North America was the largest region in the industrial air chiller market in 2023. The regions covered in the industrial air chiller market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising growth of the pharmaceutical industry is expected to propel the industrial air chiller market growth going forward. Pharmaceuticals are the companies that are involved in the manufacture and sale of drugs used for medical use. Industrial air chillers are used for the safe storage of medicines, drugs, and other chemicals in the pharmaceutical industry, so the growth of pharmaceuticals would propel the market. For instance, in August 2021, according to Office For National Statistics, a UK-based government department, in the UK, the manufacture of pharmaceuticals increased by US$1.12 billion (8%) to a total of US$15.25 billion in 2020. Therefore, the rising growth of the pharmaceutical industry is driving the growth of the industrial air chiller market.
Key Industry Players
Major companies operating in the industrial air chiller market report are Johnson Controls International PLC, Mitsubishi Electric Corporation, Daikin Industries Ltd., Trane Technologies Company LLC, Carrier Global Corporation, Blue Star Limited, Airedale International Air Conditioning Ltd., Hiver Aircon Pvt. Ltd., GEM Orion Machinery Private Limited, Jiangsu Huazhao Refrigeration Equipment Co. Ltd., Fujitsu General Limited, Haier Group Corporation, Midea Group, Ingersoll Rand Inc., Panasonic Holdings Corporation, Hitema International S.r.l., HYDAC Technology GmbH, KKT chillers Inc., Lennox International Inc., LG Electronics Inc., MTA S.p.A., Multistack LLC, Parker-Hannifin Corporation, Process Cooling Systems Inc., Reynold India Pvt. Ltd., Rittal GmbH & Co. KG, Shanghai Shenglin M&E Technology Co. Ltd., Sterling HVAC Products, Thermal Care Inc., YORK International Corporation
The industrial air chiller market report table of contents includes:
1. Executive Summary
2. Industrial Air Chiller Market Characteristics
3. Industrial Air Chiller Market Trends And Strategies
4. Industrial Air Chiller Market – Macro Economic Scenario
5. Global Industrial Air Chiller Market Size and Growth
…..
32. Global Industrial Air Chiller Market Competitive Benchmarking
33. Global Industrial Air Chiller Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Industrial Air Chiller Market
35. Industrial Air Chiller Market Future Outlook and Potential Analysis
36. Appendix
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