Industrial Chillers Market By Component, Deployment, Application and By End User With Forecast 2027

Industrial Chillers Market: Introduction

An industrial chiller is a refrigeration system that cools a process fluid or dehumidifies air in commercial and industrial facilities. A chiller either uses a vapor compression or absorption cycle to cool.
Industrial chillers are different from chillers used for commercial purposes and in HVAC. Industrial chillers have their own independent water and refrigeration circuits, whereas HVAC chillers are not equipped with reservoirs, pumping systems, and controls.

Key Drivers of the Global Industrial Chillers Market

Growing need for cooling equipment in various end-use industries is one of the key reasons for the growth of the industrial chillers market. Demand for industrial chillers is anticipated to increase during the forecast period due to rising number of industrial units, especially in emerging economies.
Another growth factor for the industrial chillers market is the increasing popularity of eating processed and frozen food around the world. Rising middle class income growth coupled with rapid urbanization are key factors increasing the demand for processed and frozen food. This has ultimately led to the growth of the industrial chillers market.

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Environmental issues associated with industrial chillers to hamper growth of the market

Environment issues associated with industrial chillers is one of the key reasons hampering the growth of the industrial chillers market. Most industrial chillers emit CFC (Chlorofluorocarbons) that impacts the ozone layer. Many key global players have already taken initiatives through technological innovation to reduce the environmental impact of industrial chiller emissions. However, many small and medium sized manufacturers of industrial chillers do not follow the necessary government norms and regulations associated with emissions. This hampers the growth of the industrial chillers market.

Mergers and Acquisitions, a Key Business Opportunity for the Industrial Chillers Market

Mergers and acquisitions between key global manufacturers and local manufacturers is one of the major business opportunities for the growth of the industrial chillers market. Additionally, rising awareness about the need to protect the environment from the harmful effects of industrial chillers is also anticipated to offer new business opportunities for the industrial chillers market.

Asia Pacific offers growth avenues for the global industrial chillers market

Geographically, the global industrial chillers market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
Countries in North America and Europe boast some of the key companies specialized in industrial chillers. Presence of key industries have resulted in these regions acquiring a dominant share in the industrial chillers market.
Asia Pacific on the other hand is one of the key markets for industrial chillers. Countries such as China, India, and many other Southeast Asian countries are some of the key manufacturing hubs where demand for industrial chillers is noticeable.
Other regions such as South America and Middle East & Africa have strong potential growth for the industrial chillers market.

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Key Players Operating in the Global Market

The global industrial chillers market is highly fragmented with presence of many key global players and many regional industrial chiller manufacturers. A few of the key players operating in the global industrial chillers market includes:

DAIKIN INDUSTRIES, Ltd.,
Drake Refrigeration Inc.
Haier Electronics Group Co. Ltd.
Ingersoll Rand (Trane)
Johnson Controls
LG Electronics
Mitsubishi Corporation
Robert Bosch GmbH
Senho Machinery (Shenzhen) Co., Ltd.
United Technologies Corporation

Global Industrial Chillers Market: Research Scope

Global Industrial Chillers Market, by Product Type

Air Chillers
Water Chillers
Evaporative Condensed Chillers

Global Industrial Chillers Market, by Functionality

Manual
Semi-automatic
Fully Automatic

Global Industrial Chillers Market, by End-use Industry

Food & Beverage Industry
Healthcare Industry
Chemical Industry
Others (Plastic & Rubber Industry etc.)

Global Industrial Chillers Market, by Distribution Channel

Online
Offline

Specialty Stores
Other retail stores

Global Industrial Chillers Market, by Region

North America

U.S.
Canada

Europe

Germany
France
U.K.
Italy
Rest of Europe

Asia Pacific

China
Japan
India
Rest of Asia Pacific

Middle East & Africa

GCC
South Africa
Rest of Middle East & Africa

South America

Brazil
Rest of South America

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

North America
Asia Pacific
Europe
Latin America
The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?