Research and Markets - Global Chillers (Screw, Scroll, Centrifugal, Absorption, and Reciprocating) Market, 2021 - Johnson Controls & Carrier Corporation Lead the $10 Billion Market

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Jun 08, 2016, 06:10 ET

DUBLIN, June 8, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Chillers Market by Type (Screw, Scroll, Centrifugal, Absorption, and Reciprocating), by End-Use Industry (Plastics, Chemicals & Petrochemicals, Medical & Pharmaceutical, Rubber, Food & Beverage, and Others), and by Region - Global Forecast to 2021" report to their offering.

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The global chillers market size is estimated to reach USD 10.84 Billion by 2021 at a CAGR of 4.24%

The chillers market is driven by the increasing process cooling needs in industrial applications and stringent environmental regulations driving the demand for chillers. Moreover, factors such as increasing population and rising consumption of frozen food are also contributing significantly to the increase in refrigeration equipment market.

Different types of chillers are also included in the report. The main types are screw, scroll, centrifugal, absorption, and reciprocating. Scroll chillers accounted for the largest-market share due to their suitability with wide application areas. Absorption are the fastest-growing type of chillers due to its low maintenance and manufacturing cost. These chillers are expected to grow with the highest CAGR between 2016 and 2021 due to their low operating cost and high efficiency.

Chillers are used in various end-use industries such as chemicals & petrochemicals, plastics, food & beverages, medical & pharmaceutical, rubber, and others. These are the main end-use industries considered in the report. In 2015, the plastics application is estimated to account for the largest market share among all the applications, in terms of value, followed by chemicals & petrochemicals, food & beverages, medical & pharmaceutical, and rubber industry. The chemicals & petrochemicals industry is estimated to register the highest CAGR between 2016 and 2021 among all the end-use industries considered.

However, Johnson Controls (U.S.), Carrier Corporation (U.S.) are the leading companies, with an excellent foothold in the U.S. These companies are expected to account for a significant market share in the near future.

Entering into related industries and targeting new markets will enable the chillers manufacturers to overcome the effects of volatile economy, leading to diversified business portfolio and increase the revenue.

Other major manufacturers of chillers are Daikin Industries Ltd. (Japan), Trane Inc. (Ireland), Smardt Chiller Group (Canada), Thermax Inc. (India), and Climaveneta S.p.A. (Italy).

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Industry Trends

7 Macroeconomic Overview and Key Drivers

8 Chillers Market, By Capacity Range

9 Chillers Market, By Type

10 Chillers Market, By End-Use Industry

11 Chillers Market, By Region

12 Competitive Landscape

13 Company Profiles

- Broad Air Conditioning Co., Ltd.
- Carrier Corporation
- Climaveneta S.P.A.
- Daikin Industries Ltd.
- GEA Group
- Hitachi Appliances Inc.
- Johnson Controls
- Midea Group
- Polyscience
- Shuangliang ECO-Energy Systems Co. Ltd.
- Smardt Chiller Group Inc.
- The Linde Group
- Thermax Ltd.
- Trane Inc.

For more information visit http://www.researchandmarkets.com/research/cwhmj4/chillers_market

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SOURCE Research and Markets