Water-Cooled Process Chillers to Gain Traction During the Forecast Period
Owing to properties such as low power consumption and excellent cooling efficiency, the demand for water-cooled process chillers is expected to gain traction in the forecast period. Process chillers are heat sensitive devices and require efficient heat active cooling, which can reduce its heat sink thermal resistance below safety limits. Cooling towers used in water cooled process chillers are compact in size, and it caters to higher cooling efficiency for end-use products. Drawbacks of using air-cooled process chillers in industries, are dust particles entering the equipment, noise and a large area, which can be completely eliminated by implementing water cooling. Owing to its financial, as well as operational advantages, water-cooled industrial chillers are expected to gain more popularity than air-cooled industrial chillers, during the forecast period.
Strict Regulations on the Use of Plastic Hampering the Overall Sales of Process Chillers
The global push to reduce the use of plastic is paving the way for a strict regulatory framework on the use of plastics. Production processes that involve plastic is monitored carefully, especially in Europe. Such regulation affects the growth of injection and blow molding processes in various end-use sectors, which directly hampers the demand for process chillers in the market. On the other hand, the demand for process chillers in developing countries such as China and India are foreseen to auger well owing to the ever-growing demand for plastics processing. The East Asia process chillers region has witnessed significant growth in the past couple of years and will maintain the same trend over the forecast period.
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Upsurge in Processed Food Utilization to Augment Sales of Process Chillers in the Food & Beverages Industry
Changing lifestyle and dietary habits of consumers across the globe are creating rising demand for easy-to-cook or ready-to-eat food products. As packaged and processed food products are convenient to carry, cook, preserve and eat, consumers are preferring to purchase these products over fresh foods. Advanced technologies are being employed by manufacturers to improve taste, color, flavor, and nutritional values of processed foods, which support the industrial growth prospect for process chillers. Increasing consumer demand for a variety of packaged food and beverages is mainly contributing to the growth of the food industry. Fats and oils being among its primary ingredients, the high consumption of processed food products and beverages are expected to trigger the growth of the global process chillers market.
Technological Progressions to Impact the Process Chillers Market in the Foreseeable Future
Industry 4.0 is the proliferation of the fourth industrial revolution, which is a drift towards automation and data exchange in manufacturing technologies such as the industrial internet of things (IIOT). The continuous changing technology and increasing number of data centers across the globe are foreseen to create demand for process chillers over the forecast period. Growing preference for customized process cooling solutions among various end-use industries is forcing key manufactures to provide effective solutions based on the desired need. The selection of the right configuration of process chillers for an optimized performance output could be a perplexing process. Intelligent process cooling is foreseen to witness a paradigm shift especially in the beverages production. Selection of the right process chiller allows the manufacturers to attain considerable operational efficiencies that contribute directly to the bottom line, while helping to improve plant safety and address the ongoing need to demonstrate environmental stewardship. The growing need for efficiencies, sustainability and safety is indirectly forcing process chillers manufacturers to increase their focus on taking the advanced approach towards the effective process cooling methods. Process chillers manufacturers are continuously focusing on bringing new solutions for enhanced and cost effective operations based on the changing process cooling demand in various end-use sectors.
East & South Asia Collectively Foreseen to Offer Noteworthy Growth Potential
East & South Asia hold a significant share in the global process chillers market. An optimistic scenario of various end-use industries such as plastics is foreseen to auger well the global demand for process chiller over the forecast duration. The South Asia process chillers market is foreseen to keep a significant share in South Asia by the end of 2029 trailed by East Asia. The price for process chillers varies a lot across the globe, however in Asian countries it appears to be a bit low due the presence of small players in the region. High cost of water cooled process chillers in Europe and North America could be a potential threat for the process chillers market in these regions as the cost of process chillers is higher, owing to which it is less preferred by small scale industries. Developments in manufacturing industries are assisting process chiller manufacturers in developing products, which can quickly acclimatize to varying cooling needs of pharmaceutical and chemical industries while providing financial feasibility. The expansion of novel products is foreseen to cause extensive acceptance of process chiller in pharmaceutical, plastics, and chemicals industries.
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Amalgamation of Industrial Chillers for End-Use Industries to Drive Innovations in Process Chillers Market
Manufacturers of process chillers are keenly involved in accommodating the surge in demand for chilling systems for manufacturing applications. The demand for water cooled process chillers is rising gradually for numerous industrial processes. Well aware of the ongoing industrial dynamics, leading process chillers manufacturers are involved in strengthening their growth and production capacities. With the enduring amalgamation of the industrial chilling landscape, the sector is foreseen to witness innovation that will further complement suppleness and suitability in cooling technology. Many leading manufactures are investing significantly in R&D endeavors to retain their market position in the global process chillers market.
The competitive landscape section of the process chillers market delivers the most insightful information regarding key players in the global process chillers market. The market for process chillers is estimated to grow over the forecast period as new contenders are rising and competition with existing players is expected to increase in the next ten years.
Some of the key industries leading the global process chillers market are investing significantly on integration of advanced technology, effective design, and workflow to enhance the overall price to performance ratio of process chillers.
In Jan 2019, Trane, a leading player in the process chillers market, announced the launch of three new process chillers using refrigerant R1234ze. Trane claims that the compressor technology used in process chillers makes it 38% more efficient, making the product compliant with Eco-design regulations. Additionally, the company claimed that the refrigerants used in the system had almost no global warming potential (GWP).
In order to gain a competitive edge in the process chillers market, Daikin announced the launch of its new chiller witness tests in its newly opened facility in Italy, in August 2018. Daikin plans to use chiller witnessed tests programs to showcase its products performance under varying climatic conditions and to develop an extensive consumer base.
To capitalize on the growing demand for eco-friendly, energy-efficient, and high-performance process chillers in end-use industries, in October 2018, GEA Group launched the first-ever process chiller. It was equipped with semi-hermetic compact screw processor, named BluQ. The company claimed that BluQ utilizes small amount of ammonia to produce desired cooling efficiency, making the system a highly environment-friendly product.
In June 2018, Carrier Corporation revealed that the company is supplying process chillers for the new Elizabeth metro Line in London. A total of fifteen AquaSnap air-cooled liquid chillers from Carrier helps to meet the underground cooling needs of the project under development.
Some of the leading players operating in the global market for process chillers, include Carrier Corporation (UTC), Johnson Controls International plc., GEA Group AG, Daikin Industries, Ltd and Blue Star Ltd., among other market players.
A comprehensive view of the process chillers market has led our analysts to conclude that, the market is growing at a considerable rate, with East Asia, Europe, and South Asia holding a significant share in the global demand for process chiller. The rising processed food sector and plastic industry in developing economies such as China & India which is foreseen to bolster the process chillers demand in the foreseeable future. Owing to better price to performance ratio and suitability for large capacity applications, water cooled process chillers is expected to remain dominant over air cooled process chillers. Effective integration of design and work flow by various process chillers manufacturers will also give impetus to the global process chillers market.
Technological developments such as increasing efficiency of process chillers, long lifespan, and aftermarket services could provide timely succor as a cost effective and time saving strategy thereby increasing profit margins for market players. Companies with R&D abilities and technological competence will gain impetus and effectiveness in the process chillers market. Leading companies who are leveraging technology will continue to grow exponentially and have a considerable market revenue share. However, high installation and maintenance cost could hamper the growth of the process chillers market.
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Process Chillers Market - Scope of the Report
Fact.MR recently published a market study on the global market for process chillers. The study provides detailed assessment on the key market dynamics, including drivers, trends, opportunities restraints, and detailed information about the process chiller market structure. The market study presents exclusive information about how the process chillers market will grow during the forecast period of 2019-2029
The study provides market dynamics that are expected to influence the current environment and future status of process chillers over the forecast period. The primary objective of this report is to offer updates on trends, drivers, restraints, value forecasts and opportunities for manufacturers operating in the process chillers market.
A section of the report discusses how the overall competition in the process chillers market is progressively increasing. It discusses various factors that are shaping internal, as well as external competition in the process chillers market. The market is expected to grow at a moderate pace in the near future. Moreover, rising number of industrial cooling solutions for several end-use industries and positive global economic outlook owing to the increase in the income spending by the growing population is anticipated to circuitously create healthy growth opportunities for the process chillers market.
The report provides detailed market share analysis of process chillers on the basis of key manufacturers. A section of the report highlights overall country-wise process chillers market. It provides a market outlook for 2019–2029 and sets the forecast within the context of the report. The report sheds light on key developments and activities executed by prominent manufacturers operating in the process chillers market.
Key Segments of the Process Chillers Market
Fact.MR’s study on the process chillers market offers information divided into four important segments - cooling, capacity, compressor, end-use, and regional analysis. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.
Upto 20 Tons
Food & Beverages
Above 300 Tons
Engineering & Mechanical
Middle East & Africa (MEA)
Key Questions Answered in Fact.MR Process Chillers Market Report
- Which regions will continue to remain the most lucrative markets for process chillers market players?
- Which factors will induce a change in the demand for process chillers during the assessment period?
- What are the most widely used configurations for process chillers?
- What are the different pump arrangements and their demand share in the global process chillers market?
- How will changing trends impact the process chillers market?
- How can market players capture the low-hanging opportunities in the process chillers market in developed regions?
- Which companies are leading the process chillers market?
Research Methodology of the Process Chillers Market
The report on process chillers focuses on providing information regarding the value and volume of the market from a global perspective. The research on the process chillers market was initiated through secondary research on the product, using both top-down and bottom-up approaches, right down to the country and segmental level. Process chillers production trends and growth projections were taken into consideration to arrive at the total process chillers market. In addition to the above secondary research, yearly revenue generated by various capacities of process chillers has been estimated.
Furthermore, the yearly revenue generated from process chillers manufacturing companies from each capacity were obtained from both primary and secondary sources and then benchmarked at the regional level. Fluctuations in annual prices over the forecast period is based on historical market trends and expected percentage change in upcoming years on the basis of investment, which is done on the patent market and the related industry. Any decline or increase in price in upcoming years is linear for all regions.
The process chillers market value, thus, deduced was once again cross verified and validated from the supply side. Fact.MR’s proprietary regression analysis forecast model has been adopted to generate the market estimation for forecast years and takes into account effects of macroeconomic factors impacting the overall process chillers market and was further validated by the primary respondents belonging to different levels across the entire value chain of the process chillers market, such as manufacturers and independent service providers.
1. Global Process Chiller Market - Executive Summary
1.1. Global Market Overview
1.2. Global Process Chiller Market – Regional Overview
1.3. Global Process Chiller Market – Opportunity Assessment
1.4. Global Process Chiller Market – Demand & Supply Side Trend
1.5. Fact.MR Analysis
2. Global Process Chiller Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Introduction and Definition
3. Market Background
3.1. Macro - Economic Factors
3.2. Forecast Factors: Relevance and Impact
3.3. PESTLE Analysis
3.4. Porter’s Five Forces Analysis
3.5. Investment Feasibility Matrix
3.6. Value chain
3.7. Market Dynamics
3.7.3. Opportunity Analysis
4. Global Process Chiller Market – Price Point Analysis
5. Global Process Chiller Market Demand (US$ Mn) Analysis 2014-2018 and Forecast, 2019-2029
5.1. Historical Market Value (US$ Mn) Analysis, 2014-2018
5.2. Current and Future Market Value (US$ Mn) Projections, 2019-2029
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Global Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029, By Cooling Type
6.1. Introduction / Key Findings
6.2. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Capacity, 2014 - 2018
6.3. Current and Future Market Size (US$ Mn) and Volume (Units) Analysis and Forecast By Cooling Type, 2019 - 2029
6.3.1. Air-Cooled Process Chiller
6.3.2. Water-Cooled Process Chiller
6.4. Market Attractiveness Analysis By Cooling Type
7. Global Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029, by Capacity
7.1. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Capacity, 2014 - 2018
7.2. Current and Future Market Size (US$ Mn) and Volume (Units) Analysis and Forecast By Capacity, 2019 - 2029
7.2.1. Upto 20 Tons
7.2.2. 20 - 150 Tons
7.2.3. 150 - 300 Tons
7.2.4. Above 300 Tons
7.3. Market Attractiveness Analysis By Capacity
8. Global Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029, by Compressor Type
8.1. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Compressor Type, 2014 - 2018
8.2. Current and Future Market Size (US$ Mn) and Volume (Units) Analysis and Forecast By Compressor Type, 2019 - 2029
8.2.1. Positive Displacement
8.3. Market Attractiveness Analysis By Compressor Type
9. Global Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029, by End Use Industry
9.1. Historical Market Size (US$ Mn) and Volume (Units) Analysis By End Use Industry, 2014 - 2018
9.2. Current and Future Market Size (US$ Mn) and Volume (Units) Analysis and Forecast By End Use Industry, 2019 - 2029
9.2.2. Food & Beverages
9.2.7. Engineering & Mechanical
9.3. Market Attractiveness Analysis By End Use Industry
10. Global Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029, by Region
10.1. Historical Market Size (US$ Mn) and Volume (Units) Analysis By Region, 2014 - 2018
10.2. Current Market Size (US$ Mn) and Volume (Units) Analysis and Forecast By Region, 2019 - 2029
10.2.1. North America
10.2.2. Latin America
10.2.4. East Asia
10.2.5. South Asia
10.2.7. Middle East and Africa (MEA)
10.3. Market Attractiveness Analysis By Region
11. North America Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029
11.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018
11.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029
11.3.1. By Country
11.3.2. By Cooling Type
11.3.3. By Capacity
11.3.4. By Compressor Type
11.3.5. By End Use Industry
11.4. Market Attractiveness Analysis
11.4.1. By Country
11.4.2. By Cooling Type
11.4.3. By Capacity
11.4.4. By Compressor Type
11.4.5. By End Use Industry
12. Latin America Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029
12.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018
12.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029
12.3.1. By Country
126.96.36.199. Rest of Latin America
12.3.2. By Cooling Type
12.3.3. By Capacity
12.3.4. By Compressor Type
12.3.5. By End Use Industry
12.4. Market Attractiveness Analysis
12.4.1. By Country
12.4.2. By Cooling Type
12.4.3. By Capacity
12.4.4. By Compressor Type
12.4.5. By End Use Industry
13. Europe Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029
13.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018
13.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029
13.3.1. By Country
188.8.131.52. Rest of Europe
13.3.2. By Cooling Type
13.3.3. By Capacity
13.3.4. By Compressor Type
13.3.5. By End Use Industry
13.4. Market Attractiveness Analysis
13.4.1. By Country
13.4.2. By Cooling Type
13.4.3. By Capacity
13.4.4. By Compressor Type
13.4.5. By End Use Industry
14. East Asia Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029
14.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018
14.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029
14.3.1. By Country
184.108.40.206. South Korea
14.3.2. By Cooling Type
14.3.3. By Capacity
14.3.4. By Compressor Type
14.3.5. By End Use Industry
14.4. Market Attractiveness Analysis
14.4.1. By Country
14.4.2. By Cooling Type
14.4.3. By Capacity
14.4.4. By Compressor Type
14.4.5. By End Use Industry
15. South Asia Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029
15.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018
15.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029
15.3.1. By Country
220.127.116.11. Rest of South Asia
15.3.2. By Cooling Type
15.3.3. By Capacity
15.3.4. By Compressor Type
15.3.5. By End Use Industry
15.4. Market Attractiveness Analysis
15.4.1. By Country
15.4.2. By Cooling Type
15.4.3. By Capacity
15.4.4. By Compressor Type
15.4.5. By End Use Industry
16. Oceania Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029
16.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018
16.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029
16.3.1. By Country
18.104.22.168. New Zealand
16.3.2. By Cooling Type
16.3.3. By Capacity
16.3.4. By Compressor Type
16.3.5. By End Use Industry
16.4. Market Attractiveness Analysis
16.4.1. By Country
16.4.2. By Cooling Type
16.4.3. By Capacity
16.4.4. By Compressor Type
16.4.5. By End Use Industry
17. Middle East and Africa Process Chiller Market Analysis 2014-2018 and Forecast 2019-2029
17.2. Historical Market Size (US$ Mn) Trend Analysis By Market Taxonomy, 2014 - 2018
17.3. Market Size (US$ Mn) Forecast By Market Taxonomy, 2019 - 2029
17.3.1. By Country
22.214.171.124. GCC Countries
126.96.36.199. Northern Africa
188.8.131.52. South Africa
184.108.40.206. Rest of MEA
17.3.2. By Cooling Type
17.3.3. By Capacity
17.3.4. By Compressor Type
17.3.5. By End Use Industry
17.4. Market Attractiveness Analysis
17.4.1. By Country
17.4.2. By Cooling Type
17.4.3. By Capacity
17.4.4. By Compressor Type
17.4.5. By End Use Industry
18. Emerging Countries Process Chiller Market Analysis. 2014–2018 and Forecast 2019-2029
18.1. China Process Chiller Market Analysis
18.1.1. By Cooling Type
18.1.2. By Capacity
18.1.3. By Compressor Type
18.1.4. By End Use Industry
18.2. India Process Chiller Market Analysis
18.2.1. By Cooling Type
18.2.2. By Capacity
18.2.3. By Compressor Type
18.2.4. By End Use Industry
18.3. Mexico Process Chiller Market Analysis
18.3.1. By Cooling Type
18.3.2. By Capacity
18.3.3. By Compressor Type
18.3.4. By End Use Industry
19. Market Structure Analysis
19.1. Global Process Chiller Market - Industry Structure
19.2. Global Process Chiller Market Competition - a Dashboard View
19.3. Global Process Chiller Market Company Share Analysis
20. Company Profiles
20.1. United Technologies Corporation (Carrier)
20.1.1. Company Overview
20.1.2. Business overview
20.1.3. Strategic overview
20.2. DAIKIN INDUSTRIES Ltd.
20.2.1. Company Overview
20.2.2. Business overview
20.2.3. Strategic overview
20.3. Johnson Controls International plc.
20.3.1. Company Overview
20.3.2. Business overview
20.3.3. Strategic overview
20.4. Blue Star Ltd.
20.4.1. Company Overview
20.4.2. Business overview
20.4.3. Strategic overview
20.5. GEA Group AG
20.5.1. Company Overview
20.5.2. Business overview
20.5.3. Strategic overview
20.6. Motivair Corporation
20.6.1. Company Overview
20.6.2. Business overview
20.6.3. Strategic overview
20.7. Pfannenberg Inc.
20.7.1. Company Overview
20.7.2. Business overview
20.7.3. Strategic overview
20.8. Trane Inc.
20.8.1. Company Overview
20.8.2. Business overview
20.8.3. Strategic overview
20.9. Cooling Technology, Inc.
20.9.1. Company Overview
20.9.2. Business overview
20.9.3. Strategic overview
20.10. Drake Refrigeration Inc.
20.10.1. Company Overview
20.10.2. Business overview
20.10.3. Strategic overview
20.11. Advantage Engineering, Inc.
20.11.1. Company Overview
20.11.2. Business overview
20.11.3. Strategic overview
20.12. Aqua Cooling Solutions Ltd.
20.12.1. Company Overview
20.12.2. Business overview
20.12.3. Strategic overview
20.13. Thermonics Corporation
20.13.1. Company Overview
20.13.2. Business overview
20.13.3. Strategic overview
20.14. MTA USA
20.14.1. Company Overview
20.14.2. Business overview
20.14.3. Strategic overview
21. Research Methodology
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