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Chiller Market by Type (Screw, Scroll, Centrifugal, Absorption, and Reciprocating Chillers) and End User (Chemicals & Petrochemicals, Food & Beverages, Plastics, Rubber, and Medical & Others) - Global Opportunity Analysis and Industry Forecasts, 2014-2022

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CM_171834
Pages: 138
Feb 2017 | 3601 Views
 
Author's : Sheetanshu Upadhyay & Chandradeep Singh
Tables: 49
Charts: 34
 

Chillers Market Overview:

Chillers Market are primarily used in industrial sector to maintain equipment temperature for better performance. They play an important role in the plastic industry to reduce heat produced by manufactured products, and factory equipment. The global chiller market accounted for $8,784 million in 2015, and is expected to grow at a CAGR of 4.1% to reach $11,542 million by 2022. Chillers have gained popularity owing to factors such as rise in consumption of frozen foods, high demand for energy-efficient cooling solutions and growth in the industrial sector.

Players have adopted product launch and expansion as their key strategies to increase their market share. For instance, Carrier Corporation Shanghai launched “AquaEdge 19DV” centrifugal chiller with environmentally sustainable refrigerant for energy-efficient and reliable solutions. This chiller strengthened the company’s market presence with increasing demand from office buildings, hotels, hospitals, and factories. The key developmental strategies adopted by the companies are discussed in the report.

Chiller market segmentation

Chiller Market Segmentation

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Segment review

The report analyzes the global chiller market based on product type, end user, and geography. The product type includes screw, scroll, centrifugal, absorption, and reciprocating chillers. The end user segment comprises industries namely chemicals & petrochemicals, food & beverages, plastics, rubber, and medical & others.

By type, absorption chiller is anticipated to grow at a higher rate during the forecast period, owing to its low maintenance and manufacturing cost. Currently, the scroll chiller segment accounts for the largest chiller market share, owing to its extensive usage in plastic industries, chemicals & petrochemicals industries, and others.

Global Chiller Market by Type, 2015

Global Chiller Market by Type,2015

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By end user, plastic industry acquired the highest revenue in the overall chiller market size in 2015, due to wide use of chillers for cooling various machineries engaged in manufacturing of plastic products. From a growth perspective, chemicals & petrochemicals segment is anticipated to achieve the highest growth rate, owing to high demand of chillers for cooling hot oil and chemicals.

Global Chiller Market by End User, 2015

Global Chiller Market by End User, 2015

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Geographically, the market is classified into North America (U.S., Canada, and Mexico), Europe (UK, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Penetration of chillers is higher in Asia-Pacific, followed by Europe.

U.S. Chiller Market, 2014‐2022

U.S.Chiller Market forcast, 20142022

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GLOBAL CHILLER MARKET: TOP IMPACTING FACTORS

Top impacting factors

Global Chiller Market Top Impacting Factors

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Growth in commercial & industrial sectors

Hospitals, large retails, offices, and theatres in commercial sector need various types of chillers. Plastic, baking, food, pharmaceutical, and printing industries are the major industrial consumers that use chillers for various processes. Increase in number of working women has led to increased adoption of frozen foods owing to time constraints and ease of cooking. This increasing trend towards frozen foods is facilitating the demand for chillers among the food processing industry. According to OECD Employment and Labor Market Statistics, around 62% women in the U.S. are self-employed, which has increased the acceptance of frozen fruits and vegetables. According to AMR study, the value of U.S. product shipments of frozen fruits and vegetables amounted to $12,180 million in 2014. Similarly in Western Europe, a constant increase has been witnessed across all the frozen food categories, since the last decade.  

Western Europe frozen food market size in 2014 ($Million), and growth in CAGR% (2008‐2014)

Western Europe Frozen Food Market Size In 2014

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CHILLER MARKET: TOP WINNING STRATEGIES

Key market players have implemented product launch, expansion, and partnership to gain competitive advantage and a stronger base in the market. For instance, Carrier Corporation launched a new product in the market with an environmentally sustainable refrigerant to enhance its market penetration.

The companies profiled in the report are Daikin Industries Ltd., Johnson Controls, Trane Inc., Carrier Corporation, Smartd Chiller Group Inc., Thermax Ltd., Hitachi Appliances Inc., Climaveneta S.P.A., Polyscience, and Dimplex Thermal Solutions.

Other players included in the value chain are Thermal Care Inc., BV Thermal Systems, Temptek Inc., Advantage Engineering Inc., Broad Air Conditioning Co. Ltd., Hyundai Climate Control Co., Ltd., Robur Group, Yazaki Corporation, and Kawasaki Thermal Eng. Co. Ltd.

KEY BENEFITS

  • This report provides current and future chiller market trends and revenue forecast from 2016 to 2022.
  • Market intelligence for key developmental strategies adopted by established brands in the global chiller market is explained with a detailed impact analysis.
  • This report provides a practical evaluation of key market drivers and restraints of the market by type and end user.
  • It emphasizes on key factors that affect the chiller market growth and determines the influencing factors to capitalize on.

CHILLER MARKET KEY SEGMENTATION

BY TYPE

  • Screw Chiller
  • Scroll Chiller
  • Centrifugal Chiller
  • Absorption Chiller
  • Reciprocating Chiller

BY END USER

  • Chemicals & Petrochemicals
  • Food & Beverages
  • Plastics
  • Rubber
  • Medical & Others

BY GEOGRAPHY

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • Italy
    • UK
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Rest of Asia-Pacific
  • LAMEA
    • Africa
    • Brazil
    • Rest of LAMEA

KEY PLAYERS IN THE GLOBAL CHILLER MARKET VALUE CHAIN

  • Daikin Industries Ltd.
  • Johnson Controls
  • Trane Inc.
  • Carrier Corporation
  • Smartd Chiller Group Inc.
  • Thermax Ltd.
  • Hitachi Appliances Inc.
  • Climaveneta S.P.A.
  • Polyscience
  • Dimplex Thermal Solutions.

*Other players in the value chain include

(Profiles not included in the report; the same will be included on request):

  • Thermal Care Inc.
  • BV Thermal Systems
  • Temptek Inc.
  • Advantage Engineering Inc.
  • Broad Air Conditioning Co. Ltd.
  • Hyundai Climate Control Co., Ltd.
  • Robur Group
  • Yazaki Corporation
  • Kawasaki Thermal Eng. Co. Ltd.
 

Chapter: 1 INTRODUCTION

1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology

1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models

Chapter: 2 EXECUTIVE SUMMARY

2.1. CXO Perspective

Chapter: 3 MARKET OVERVIEW

3.1. Market Definition and Scope
3.2. Key Findings

3.2.1. Top Winning Strategies
3.2.2. Top Investment Pockets

3.3. Porters Five Forces Analysis

3.3.1. High Bargaining Power of Buyers
3.3.2. Moderate Bargaining Power of Suppliers
3.3.3. Low Threat of Substitution
3.3.4. Low Threat of New Entrant
3.3.5. High Competitive Rivalry

3.4. Market Players Positioning, 2015
3.5. Market Dynamics

3.5.1. Drivers

3.5.1.1. Growth in Commercial & Industrial Sectors
3.5.1.2. Increased Consumption of Frozen Foods

3.5.2. Restraint

3.5.2.1. High Electricity Cost

3.5.3. Opportunities

3.5.3.1. Technological Advancement

Chapter: 4 GLOBAL CHILLER MARKET, BY TYPE

4.1. Overview

4.1.1. Market Size and Forecast

4.2. Scroll Chiller

4.2.1. Key Market Trends
4.2.2. Growth Factors and Opportunities
4.2.3. Market Size and Forecast

4.3. Screw Chiller

4.3.1. Key Market Trends
4.3.2. Growth Factors and Opportunities
4.3.3. Market Size and Forecast

4.4. Centrifugal Chiller

4.4.1. Key Market Trends
4.4.2. Growth Factors and Opportunities
4.4.3. Market Size and Forecast

4.5. Absorption Chiller

4.5.1. Key Market Trends
4.5.2. Growth Factors and Opportunities
4.5.3. Market Size and Forecast

4.6. Reciprocating Chiller

4.6.1. Key Market Trends
4.6.2. Growth Factors and Opportunities
4.6.3. Market Size and Forecast

Chapter: 5 CHILLER MARKET, BY END USER

5.1. Chemicals & Petrochemicals

5.1.1. Key Market Trends
5.1.2. Market Size and Forecast

5.2. Food & Beverages

5.2.1. Key Market Trends
5.2.2. Market Size and Forecast

5.3. Plastic

5.3.1. Key Market Trends
5.3.2. Market Size and Forecast

5.4. Rubber

5.4.1. Key Market Trends
5.4.2. Market Size and Forecast

5.5. Medical & Others

5.5.1. Key Market Trends
5.5.2. Market Size and Forecast

Chapter: 6 CHILLER MARKET, BY GEOGRAPHY

6.1. Overview

6.1.1. Market Size and Forecast

6.2. North America

6.2.1. Key Market Trends
6.2.2. Growth Factors and Opportunities
6.2.3. Market Size and Forecast
6.2.4. U.S.

6.2.4.1. Market Size and Forecast

6.2.5. Canada

6.2.5.1. Market Size and Forecast

6.2.6. Mexico

6.2.6.1. Market Size and Forecast

6.3. Europe

6.3.1. Key Market Trends
6.3.2. Growth Factors and Opportunities
6.3.3. Market Size and Forecast
6.3.4. UK

6.3.4.1. Market Size and Forecast

6.3.5. Germany

6.3.5.1. Market Size and Forecast

6.3.6. Italy

6.3.6.1. Market Size and Forecast

6.3.7. Rest of Europe

6.3.7.1. Market Size and Forecast

6.4. Asia-Pacific

6.4.1. Key Market Trends
6.4.2. Growth Factors and Opportunities
6.4.3. Market Size and Forecast
6.4.4. China

6.4.4.1. Market Size and Forecast

6.4.5. Japan

6.4.5.1. Market Size and Forecast

6.4.6. India

6.4.6.1. Market Size and Forecast

6.4.7. Rest of Asia-Pacific

6.4.7.1. Market Size and Forecast

6.5. LAMEA

6.5.1. Key Market Trends
6.5.2. Growth Factors and Opportunities
6.5.3. Market Size and Forecast
6.5.4. Brazil

6.5.4.1. Market Size and Forecast

6.5.5. Africa

6.5.5.1. Market Size and Forecast

6.5.6. Rest of LAMEA

6.5.6.1. Market Size and Forecast

Chapter: 7 RELATED INDUSTRY INSIGHTS

7.1. Absorption Chiller Market

7.1.1. Overview

7.2. Microwave Oven Market

7.2.1. Overview

Chapter: 8 COMPANY PROFILES

8.1. Climaveneta S.P.A.

8.1.1. Company Overview
8.1.2. Operating Business Segments
8.1.3. Business Performance
8.1.4. Key Strategic Moves and Developments

8.2. Carrier Corporation

8.2.1. Company Overview
8.2.2. Operating Business Segments
8.2.3. Business Performance
8.2.4 Key Strategic Moves and Developments

8.3. Trane Inc.

8.3.1. Company Overview
8.3.2. Operating Business Segments
8.3.3. Business Performance
8.3.4. Key Strategic Moves and Developments

8.4. Daikin Industries Ltd.

8.4.1. Company Overview
8.4.2. Operating Business Segments
8.4.3. Business Performance
8.4.4. Key Strategic Moves and Developments

8.5. Johnson Controls

8.5.1. Company Overview
8.5.2. Operating Business Segments
8.5.3. Business Performance
8.5.4. Key Strategic Moves and Developments

8.6. Smartd Chiller Group Inc.

8.6.1. Company Overview
8.6.2. Operating Business Segments
8.6.3. Business Performance
8.6.4. Key Strategic Moves and Developments

8.7. Thermax Ltd.

8.7.1. Company Overview
8.7.2. Operating Business Segments
8.7.3. Business Performance
8.7.4. Key Strategic Moves and Developments

8.8. Hitachi Appliances Inc.

8.8.1. Company Overview
8.8.2. Operating Business Segments
8.8.3. Business Performance
8.8.4. Key Strategic Moves and Developments

8.9. Polyscience

8.9.1. Company Overview
8.9.2. Operating Business Segments
8.9.3. Business Performance
8.9.4. Key Strategic Moves and Developments

8.10. Dimplex Thermal Solutions

8.10.1. Company Overview
8.10.2. Operating Business Segments
8.10.3. Business Performance
8.10.4. Key Strategic Moves and Developments

Other players in the value chain include

  • Thermal Care Inc.
  • BV Thermal Systems
  • Temptek Inc.
  • Advantage Engineering Inc.
  • Broad Air Conditioning Co. Ltd.
  • Hyundai Climate Control Co., Ltd.
  • Robur Group
  • Yazaki Corporation
  • Kawasaki Thermal Eng. Co. Ltd.

*Profiles of these players are not included. The same will be included on request

List of Tables

TABLE 1. CHILLER MARKET, BY TYPE, 2014-2022 ($MILLION)
TABLE 2. SCROLL CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 3. SCREW CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 4. CENTRIFUGAL CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 5. ABSORPTION CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 6. RECIPROCATING CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 7. CHILLER MARKET, BY END USER, 2014-2022 ($MILLION)
TABLE 8. CHEMICALS & PETROCHEMICALS INDUSTRY CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 9. FOOD & BEVERAGES INDUSTRY CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 10. PLASTIC INDUSTRY CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 11. RUBBER INDUSTRY CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 12. MEDICAL INDUSTRY & OTHERS CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 13. CHILLER MARKET, BY GEOGRAPHY, 2014-2022 ($MILLION)
TABLE 14. NORTH AMERICA CHILLER MARKET
TABLE 15. NORTH AMERICA CHILLER MARKET, BY TYPE, 2014-2022 ($MILLION)
TABLE 16. NORTH AMERICA CHILLER MARKET, BY END USER, 2014-2022 ($MILLION)
TABLE 17. NORTH AMERICA CHILLER MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 19. EUROPE CHILLER MARKET
TABLE 20. EUROPE: CHILLER MARKET, BY TYPE, 2014-2022 ($MILLION)
TABLE 21. EUROPE: CHILLER MARKET, BY END USER, 2014-2022 ($MILLION)
TABLE 22. EUROPE: CHILLER MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 23. ASIA-PACIFIC CHILLER MARKET, BY TYPE, 2014-2022 ($MILLION)
TABLE 24. ASIA-PACIFIC CHILLER MARKET, BY END USER, 2014-2022 ($MILLION)
TABLE 25. ASIA-PACIFIC CHILLER MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 26. LAMEA CHILLER MARKET
TABLE 27. LAMEA CHILLER MARKET, BY TYPE, 2014-2022 ($MILLION)
TABLE 28. LAMEA CHILLER MARKET, BY END USER, 2014-2022 ($MILLION)
TABLE 29. LAMEA CHILLER MARKET, BY COUNTRY, 2014-2022 ($MILLION)
TABLE 30. CLIMAVENETA: COMPANY SNAPSHOT
TABLE 31. CLIMAVENETA: OPERATING SEGMENTS
TABLE 32. CARRIER CORPORATION: COMPANY SNAPSHOT
TABLE 33. CARRIER CORPORATION: OPERATING SEGMENTS
TABLE 34. TRANE INC.: COMPANY SNAPSHOT
TABLE 35. TRAIN INC.: OPERATING SEGMENTS
TABLE 36. DAIKIN INDUSTRIES LTD.: COMPANY SNAPSHOT
TABLE 37. DAIKIN INDUSTRIES LTD.: OPERATING SEGMENTS
TABLE 38. JOHNSON CONTROLS: COMPANY SNAPSHOT
TABLE 39. JOHNSON CONTROLS: OPERATING SEGMENTS
TABLE 40. SMARTD CHILLER GROUP INC.: COMPANY SNAPSHOT
TABLE 41. SMARTD CHILLER GROUP INC.: OPERATING SEGMENTS
TABLE 42. THERMAX LTD.: COMPANY SNAPSHOT
TABLE 43. THERMAX LTD.: OPERATING SEGMENTS
TABLE 44. HITACHI APPLIANCES INC.: COMPANY SNAPSHOT
TABLE 45. HITACHI APPLIANCES INC.: OPERATING SEGMENTS
TABLE 46. POLYSCIENCE: COMPANY SNAPSHOT
TABLE 47. POLYSCIENCE: OPERATING SEGMENTS
TABLE 48. DIMPLEX THERMAL SOLUTIONS: COMPANY SNAPSHOT
TABLE 49. DIMPLEX THERMAL SOLUTIONS: OPERATING SEGMENTS

List of Figures

FIGURE 1. TOP WINNING STRATEGIES: PERCENTAGE DISTRIBUTION (2013-2016)
FIGURE 2. TOP WINNING STRATEGIES: NATURE AND TYPE
FIGURE 3. TOP INVESTMENT POCKETS IN THE GLOBAL CHILLER MARKET
FIGURE 4. PORTERS FIVE FORCES ANALYSIS
FIGURE 5. MARKET PLAYERS POSITIONING, 2015
FIGURE 6. TOP FACTORS IMPACTING GLOBAL CHILLER MARKET, 2015-2022
FIGURE 7. SCROLL CHILLER: ATTRACTIVE OPPORTUNITIES
FIGURE 8. SCREW CHILLER: ATTRACTIVE OPPORTUNITIES
FIGURE 9. CENTRIFUGAL CHILLER: ATTRACTIVE OPPORTUNITIES
FIGURE 10. ABSORPTION CHILLER: ATTRACTIVE OPPORTUNITIES
FIGURE 11. RECIPROCATING CHILLER: ATTRACTIVE OPPORTUNITIES
FIGURE 12. CHEMICALS & PETROCHEMICALS: ATTRACTIVE OPPORTUNITIES
FIGURE 13. FOOD & BEVERAGES: ATTRACTIVE OPPORTUNITIES
FIGURE 14. PLASTICS: ATTRACTIVE OPPORTUNITIES
FIGURE 15. RUBBER: ATTRACTIVE OPPORTUNITIES
FIGURE 16. MEDICAL & OTHERS: ATTRACTIVE OPPORTUNITIES
FIGURE 17. NORTH AMERICA CHILLER MARKET
FIGURE 18. U.S. CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 19. CANADA CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 20. MEXICO CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 21. EUROPE CHILLER MARKET
FIGURE 22. UK. CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 23. GERMANY CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 24. ITALY CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 25. REST OF EUROPE CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 26. ASIA-PACIFIC CHILLER MARKET
FIGURE 27. CHINA: CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 28. JAPAN CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 29. INDIA CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 30. REST OF ASIA-PACIFIC CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 31. LAMEA CHILLER MARKET
FIGURE 32. BRAZIL CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 33. AFRICA CHILLER MARKET SIZE, 2014-2022 ($MILLION)
FIGURE 34. REST OF LAMEA CHILLER MARKET SIZE, 2014-2022 ($MILLION)

 

Asia-Pacific accounted for the largest chiller market size, and is anticipated to continue growing at the fastest growth rate, owing to growth in manufacturing activities in countries such as China, India, Vietnam, Thailand, and others. Change in consumer lifestyle is anticipated to increase the demand for frozen food in countries, such as India, which is expected to lead to upsurge in demand for chillers in food & beverage industries. Europe is the second largest market, in terms of chiller market size, owing to increased demand from countries such as Germany and UK. Hectic lifestyle of consumers and increase in number of working women have accelerated the acceptance of frozen food among individuals, thus driving market growth. Popularity of chillers is higher in China, with the country holding the maximum chiller market share, in the overall Asia-Pacific region. However, countries such as Australia, Japan, Singapore, India, and others are expected to witness notable growth in the near future.

Scroll chillers have widespread adoption owing to their compatible size and extensive usage in wide application areas. These chillers contribute nearly 60% of the global chiller market revenue. From a growth perspective, the market for absorption chiller would witness the fastest growth, owing to the low maintenance and manufacturing cost of these chillers.

Market players are engaged in strengthening their market presence with high-quality innovative products. Small competitors, such as Polyscience, Dimplex Thermal Solutions, Trane Inc. and others, focus on improving their product quality to enhance customer satisfaction. Established players, such as Daikin Industries Ltd., Johnson Controls, and Hitachi Appliances, have adopted product launch, partnership, and expansion as their prominent growth strategies to strengthen their foothold.

 

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