Chillers Market is expected to grow at CAGR of 27.7% by 2023 Report

The Chillers Market is increasing process cooling applications in end-use industries are driving the market for chillers globally. The Chillers Market Report is an analytical guide providing information about the key company profiles, industry insights and market forecast. Chillers Market report is brief about the corporate opportunities present in the future for the Chillers industry.

Complete report is now available on Chillers Market by Type (Screw, Scroll, Centrifugal, Absorption, Reciprocating), End-use industry (Plastic, Chemical & Petrochemical, Rubber, Food & Beverage, Medical & Pharmaceutical), and Region – Global Forecast to 2022 at http://www.rnrmarketresearch.com/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-st-to-2021-market-report.html

The chemical & petrochemical industry is projected to grow at the highest CAGR between 2017 and 2022. The high growth is attributed to the growing demand for chemical and petrochemical products and increased government measures on energy efficiency, which are driving the demand for chillers. The plastic industry is projected to account for the largest market share among all end-use industries, in terms of value during the forecast period.

The market size for chillers is projected to reach USD 11.33 billion by 2022, at a CAGR of 4.4% during the forecast period. Chillers are used in various process cooling applications in various industries. The chillers market is spread across a wide range of end-use industries such as chemical & petrochemical, plastic, rubber, food & beverage, and medical & pharmaceutical. Therefore, the market is expectedt o grow due to the growth in other related industries in the coming years. A slow growth rate in mature markets such as North America and Europe is the major restraint for the chillers market.

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Asia Pacific is projected to be the fastest-growing market for chillers in terms of value during the forecast period. China and India are the two major markets for chillers in the Asia Pacific. The Chinese plastic industry has the largest share in the Asia Pacific, resulting in an increased growth of the market. Also, high demand for chillers in solar cooling applications, and growing end-use industries are expected to drive the demand for chillers in both, China and India.

The market has been segmented on the basis of type into Hall effect sensors (Hall elements and Hall ICs), magneto resistive sensors (AMR, GMR, and TMR), SQUID sensors (low-temperature SQUID and high-temperature SQUID), fluxgate sensors, and others (optically pumped, Over Hauser, magneto diode, magneto-optical, magneto inductive, and reed).

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Break of primary participants in Chillers Market was as mentioned below:

By Company Type: Tier 1 – 35%, Tier 2 – 41%, and Tier 3 – 24%

By Designation: C Level – 56%, Director Level – 28%, and Others – 16%

By Region: Asia Pacific – 33%, North America – 27%, Europe – 20%, Middle East & Africa – 13%, and Latin America – 7%

Major players of Chillers Market Report are:

The key companies profiled in this market research report are DAIKIN INDUSTRIES, Ltd. (Japan), Carrier Corporation (US), Trane (Ireland), Johnson Controls-Hitachi air Conditioning (Japan), Smardt Chillers Group Inc. (Canada), GEA Group (Germany), Thermax Limited (India), Dunham Bush (US), Broad Group (China), Midea Group Co. Ltd. (China), JIANGSU SHUANGLIANG ECO-ENERGY CO.LTD. (China), PolyScience (US), Climaveneta S.p.A. (Italy), Airedale Air Conditioning (UK), Bluebox (Italy), SKM Air Conditioning (UAE), Thermionics Corporation (US), Thermal Care, Inc. (US), and Kaltra Innovativtechnik GmbH (Germany).

Key Benefits of Chillers Market Report

This report covers the following aspects that will benefit the client:

Market segmentation on the basis of type, application, and region

Market dynamics including drivers, restraints, and opportunities

Porter’s Five Forces analysis

Profile of key players in the global Chillers market

On an unrelated note, another research titled with Universal Flash Storage Market by Capacity (32 GB, 64 GB, 128 GB, 256 GB, 512 GB), Configuration, End Use (Automotive Electronics, Digital cameras, Gaming Consoles, High-Resolution Displays, Smartphones), Application, and Geography – Global Forecast to 2023. The universal flash storage market is estimated to grow from USD 3.59 billion in 2017 and is estimated to reach USD 9.97 billion by 2023, at a CAGR of 18.6% during 2017–2023. Now available at http://www.rnrmarketresearch.com/universal-flash-storage-market-by-capacity-32-gb-64-gb-128-gb-256-gb-512-gb-configuration-end-use-automotive-electronics-digital-cameras-gaming-consoles-high-resolution-displays-smartphones-applicatio-st-to-2023-market-report.html  

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