Process Chillers Market Highlighting Lucrative Avenues Across Major Geographies during 2018 to 2027
The process chillers market was valued at nearly US$ 8 billion in 2018 and is estimated to register steady CAGR of 5.1% through 2027
[UKPRwire, Tue Aug 13 2019] Fact.MR has recently published a new study centered at the global process chillers market which is likely to register steady growth during the coming years. According to this intelligent study “Process Chillers Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2027”, global sales are expected to surpass 130,000 units in 2019. With burgeoning demand for food, medicine, energy, health products etc., the contribution and drive to support process chillers market growth is anticipated to bolster during 2018 to 2027.
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As per this well-analyzed report, the process chillers market is estimated to grow at 5.1% CAGR through 2027. During this period, demand for process chillers is projected to augment with the construction of data centers across the globe. This assessment functions as a rich source of information to enlighten readers about other market drivers and their impact on the overall development of the process chillers market. There are separate sections which discourse knowledge associated to market size (US$ Mn & Volume) and forecast, macro-economic factors, value chain, Y-o-Y growth and Porter’s Five Forces; all of which are necessary to acquire a better insight across the global process chillers market during the slated forecast period.
Improvements across Advanced Compressor Systems to Push Market Growth
With a brief look at the innovations occurred across the process chillers market, this assessment orates that production of advanced compressors is supporting the enhancement in efficiency of process chillers. It is vital to know that compressors are seen as an imperative part that enables end-users to modify the pressure of the refrigerant so as to obtain the chosen temperature in a room. There have been recent advancements, for example, Danfoss launched a new compressor called Tubocor, which influences magnetic bearing and variable speed technology, thereby, offering efficient cooling with evident reduction in CO2 emissions.
Rising Energy Crisis Motivates Adoption of Absorption Chillers
In the present time, there is an escalating demand for energy-efficient cooling systems covering different industries. This fact has prompted process chiller manufacturers to enhance their production capabilities associated to absorption chillers. An absorption chiller functions on thermodynamic and chemical principle, with the utilization of water as the refrigerant. Moreover, the heat necessary for absorption chiller systems to operate is directly from several low-cost sources, thereby, making the chiller systems quite efficient.
Preview Analysis of Global Process Chillers Market research report Segmented By Product Type (Compact, Centralized), By Cooling Type (Air-Cooled, Water-Cooled), By End Use Industry (Plastics, Food & Beverages, Pharmaceuticals, Printing, Chemical, Energy, Engineering and Mechanical, Others), & by Region-
Air-Cooled Chillers Likely to Acquire Industrial Popularity
According to the report, manufacturers are constantly working to improve the efficiency of their products. The launch of variable frequency drives and innovative, eco-friendly refrigerants can be seen as significant examples of new-age trends burgeoning in the air-cooled chillers category. It has been analyzed that, with such factors taking solid ground the sales of air-cooled chiller systems is likely to exceed 102,000 units in 2019.
The final section of the report carefully spotlights the leading players operating in the global process chillers market. Some of the prime manufacturers mentioned in the report include Johnson Controls International plc, Thermonics Corporation, Blue Star Ltd., Drake Refrigeration Inc., Cooling Technology Inc., MTA USA, Aqua Cooling Solutions Ltd., Advantage Engineering Inc., Pfannenberg, Inc., and Motivair Corporation.
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