Process chillers are a type of industrial equipment that removes heat from a process. Chillers market growth is fueled by factors such as good cooling efficiency, low power consumption, and longer lifespan. Furthermore, the rapidly growing food, beverage, chemical, and plastic industries in the developing countries have a beneficial impact on the process chiller market.
MARKET SCOPE
The "Global Process Chillers Market Analysis to 2028" is a specialized and in-depth study of the Process chillers Market with a special focus on the global market trend analysis. The report aims to provide an overview of process chillers market with detailed market segmentation by offering and end-use. The global process chillers market expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading process chillers market player and offers key trends and opportunities in the process chillers market.
MARKET SEGMENTATION
- Based on type the market is segmented as, air-cooled process chiller, water-cooled process chiller.
- Based on capacity the market is segmented as, 50 tons, 50 - 150 tons, 150 - 300 tons, above 300 tons.
- Based on industry the market is segmented as, food and beverages, pharmaceutical, chemical, printing, plastics, others.
MARKET DYNAMICS
Drivers-
- Process Chillers market growth is fueled by factors such as good cooling efficiency, low power consumption, and longer lifespan.
- Furthermore, the rapidly growing food, beverage, chemical, and plastic industries in the developing countries have a beneficial impact on the process chiller market.
- Industry usage of process chillers is increasing as a result of growing industrialization, rising demand for industrial cooling, and growing concerns about machine efficacy.
Restraints-
- However, high cost of chillers is expected to restrain market growth of process chillers during the forecast period.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides overview and forecast of the global process chillers market based on various segments. It also provides market size and forecast estimates from year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The process chillers market by each region is later sub-segmented by respective countries and segments. The report covers analysis and forecast of 18 countries globally along with current trend and opportunities prevailing in the region.
The report analyzes factors affecting process chillers Market from both demand and supply side and further evaluates market dynamics effecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA and South America after evaluating political, economic, social and technological factors effecting the process chillers market in these regions.
IMPACT OF COVID-19 ON PROCESS CHILLERS MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The reports cover key developments in the process chillers market organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for expansion of business and customer base of market players. The market players from process chillers market are anticipated to lucrative growth opportunities in the future with the rising demand for process chillers market. Below mentioned is the list of few companies engaged in the process chillers market.
The report also includes the profiles of key process chillers market companies along with their SWOT analysis and market strategies. In addition, the report focuses on leading industry players with information such as company profiles, components and services offered, financial information of last 3 years, key development in past five years.
- Carrier
- Cooling Technology, Inc.
- DAIKIN INDUSTRIES, Ltd.
- Dimplex Thermal Solutions
- Drake Refrigeration Inc.
- Blue Star Limited
- Motivair Corporation
- MTA S.p.A.
- Parker-Hannifin Corporation
- Trane Technologies Inc.