Global Centrifugal Chiller Market – Overview
Around 80,000 centrifugal chillers are operating in North America alone. Centrifugal chillers are considered as the most economical chiller type for building cooling applications. A centrifugal compressor is a dynamic machine that uses the rotary action of an impeller wheel to exert a radial force on the refrigerant inside a volute.
Unlike reciprocating chillers, centrifugal chillers are well suited for most applications where a large volume of refrigeration is required. Centrifugal chillers are the most widely used type of chillers, owing to their higher efficiency, few moving parts, and simple design. The power consumption of a centrifugal chiller is approximately 0.5 to 0.6 IKW/TR at ASHRAE design conditions. The power consumption of screw air-cooled chillers is almost double that of centrifugal chillers. Apart from this, the maintenance process of a centrifugal chiller is relatively simple and less expensive. As per the above-mentioned facts, the global market for centrifugal chillers is foreseen to auger well over the forecast duration.
Global Centrifugal Chiller Market – Market Dynamics
By 2050, it is anticipated that, around 70% of the global population will live in cities, as compared to 54% today. The rapid movement of people from rural to urban areas around the world every year is one of the prominent factors that will indirectly fuel the need for centrifugal chillers. Centrifugal chillers are crucial building blocks for many HVAC systems. As the need for a better price to performance ratio is increasing, it is foreseen to fuel the demand for centrifugal chillers in the global market over the forecast period.
Owing to the increasing adoption of centrifugal chillers in the worldwide market, these have become the center of attraction for many manufacturers. Numerous manufacturers are investing significantly in R&D activities and trying different technological integrations to improve the price to performance ratio of centrifugal chillers. Technologies such as oil-free magnetic bearing technology with high-efficiency heat exchanger are foreseen to witness significant adoption in centrifugal chillers in the next couple of years. Due to its multiple benefits over other types of chillers available in the market, the centrifugal chiller market is projected to witness significant growth over the forecast period.
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Centrifugal Chiller Market – Key Manufacturers
The global market for centrifugal chillers appears to be fragmented, and includes both, global and regional level players. Some of the prominent players in the global centrifugal chiller market are Daikin applied, Motivair, Trane (Ingersoll Rand), Carrier Corporation, Thermal Care, Inc, Johnson Controls (York), Artic Cool, Ltd. and many more.
The research report presents a comprehensive assessment of the centrifugal chiller market, and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The centrifugal chiller market report provides analysis and information according to market segments such as geography, building size, cooling load, and cooling type.
The Centrifugal Chiller Market Report Covers Exhaustive Analysis On:
- Market Segments in the Centrifugal Chiller Market
- Market Dynamics of the Centrifugal Chiller Market
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Technology in the Centrifugal Chiller Market
- Value Chain of the Centrifugal Chiller Market
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Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Rest of Latin America)
- Europe (Germany, Italy, France, U.K, Spain, BENELUX, Nordic, Eastern Europe)
- East Asia (Japan, China, South Korea)
- South Asia (India, Thailand, Malaysia, Indonesia, Philippines, Rest)
- Oceania (Australia, New Zealand)
- Middle East and Africa (GCC Countries, South Africa, Turkey, Iran, Israel)
The centrifugal chiller market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segment. The centrifugal chiller market report also maps the qualitative impact of various market factors on market segments and geographies.
- Detailed overview of the parent market
- Changing market dynamics in the centrifugal chiller market
- In-depth market segmentation
- Historical, current, and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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Global Centrifugal Chiller Market – Regional Analysis
The global market for centrifugal chillers is divided into seven economies
- North America
- Middle East & Africa (MEA)
- Asia (East & South Asia)
- Latin America
As a result of increasing industrialization and growing movement of populations from rural to urban areas, the market in East & South Asia is expected to grow substantially in the foreseeable future. In North America, the market in the United States is expected to grow at a stable growth rate, owing to early adoption. However, the European F-Gas Regulation and the phasedown of high-GWP refrigerant could affect the growth of the centrifugal chiller market over the forecast period in the region. In Latin America, Mexico is projected to account for a significant share of the centrifugal chiller market in the region. The markets in the Middle East & Africa and Oceania are gaining pace at a robust rate in the global centrifugal chiller market.
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