HVAC Chillers Market By Product Type (Centrifugal Chillers, Scroll Chillers, Screw Chillers and Others), End User (Commercial, Residential, Industrial), and Cooling Type (Air Cooled and Water Cooled): Global Opportunity Analysis and Industry Forecast 2021-2030.

The global HVAC chillers market is experiencing significant growth in few years, due to growth in residential and commercial properties. HVAC Chillers play a crucial role in maintaining the required temperature of any room, machine or device. These chillers can be used in a wide range of living spaces, such as small to large rooms, garages, basement and Crawl Spaces. The popularity of HVAC chillers is increasing due to various advantages such as portability, convenience, and quick and easy maintenance. In addition, acceptance of HVAC chillers in restaurants, hotels, kitchens and dining rooms is increasing to address temperature level concerns. Moreover, other industries where these chillers are used are rubber, petrochemical, medical, plastic and commercial office buildings.

Market Scope and Structure Analysis

Air conditioning is an essential part of any commercial, residential and industrial facility. Separate AC units are required for smaller structures, but central air condition is vital for large ones. In such centralised systems, huge AC chillers are used to provide cooling for industrial and commercial applications. With the growth of large structures and industries, there is need to make each product cost-effective. Hence, the operation and maintenance of chillers has become extremely important.

COVID-19 Impact Analysis

•  COVID-19 pandemic has forced many companies including manufacturers and service providers halt the business operations to comply with new government rules and regulations. This halt in operations directly impacts the revenue flow of the market players.
• Moreover, research scientists are unable to rule out the possibility of spread of coronavirus.
•  Consumers across the globe are confused whether HVAC air filtration systems protect them from COVID-19 exposure.
• Installation and servicing operations would be impeded as contact prevention norms reduce the number of orders that can be handled per day by HVAC companies.

Top Impacting Factors

The increasing demand for district cooling systems in many industries and high-rise buildings is a key driver of HVAC chillers market. District cooling is also known as centralized generation and distribution of cooling energy, replaces traditional air cooling systems as it is less expensive and more energy efficient. The rise of the tourism industry on a global scale has boost the the construction of hotels and public infrastructure where HVAC chillers can be used on a large scale. In addition, the growth of skyscrapers is expected to fuel the growth of HVAC chillers market as these chillers are widely used in cooling and ventilation of skyscrapers.

Market Trend

•  An increase in urban population in emerging countries such as India, Japan, and others, is expected to adoption of modular chillers in chemical, automotive, food & beverages, and others industries, to provide heating as well as cooling atmosphere.
•  Surging demand from food & beverage industry for modular chillers, due to rise in adoption in areas such as breweries, distillers, food and dairy processing units, as well as wineries, and vineyards, propel the growth of the HVAC chillers market. Such instances are anticipated to drive the growth of the HVAC chillers market.

Key Benefits of the Report

• This study presents the analytical depiction of the HVAC chillers market along with the current trends and future estimations to determine the imminent investments pockets.
•   The report presents information related to key drivers, restraints and opportunities along with detailed analysis of the HVAC chillers market.
•  The current market is quantitatively analysed from 2021 to 2030 to highlight the HVAC chillers market growth scenario.
•      Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
•  The report Provides a detailed analysis of HVAC chillers market analysis based on competitive intensity and how the competition will take shape in coming years.

 Key Market Segments