PUBLISHER: Allied Market Research | PRODUCT CODE: 1179639
PUBLISHER: Allied Market Research | PRODUCT CODE: 1179639
The global HVAC chillers market size was valued at $9,512.9 million in 2021, and is projected to reach $15,039.7 million by 2031, registering a CAGR of 4.5% from 2022 to 2031.
The HVAC chiller (cooling water circulation device) is a general term for a device that controls the temperature by circulating a liquid such as water or heat medium. HVAC chillers provide air conditioning by eliminating the unwanted heat from commercial and industrial buildings. The demand of HVAC chillers is increasing due to various advantages such as portability and easy maintenance. HVAC chillers are used in restaurants, hotels, kitchens and dining rooms to maintain the level of temperature.
The increase in demand for district cooling systems in many industries and high-rise buildings is expected to boost the HVAC chillers market growth. District cooling is also known as centralized generation and distribution of cooling energy, which replaces traditional air-cooling systems as it is less expensive and more energy efficient. In addition, developments in the tourism industry boosts the construction of hotels and public infrastructure where HVAC chillers can be used on a large scale. In addition, the growth of skyscrapers is expected to fuel the growth of the HVAC chillers market as these chillers are widely used in cooling and ventilation of skyscrapers.
The HVAC chillers market is segmented on the basis of operation type, condenser type, application, and region. On the basis of operation type, the market is bifurcated into vapor compression chillers and vapor absorption chillers. On the basis of condenser type, the market is divided into water cooled, air cooled and evaporative. On the basis of application, the market is classified into residential, commercial and industrial. On the basis of region, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Indonesia, Thailand, Taiwan and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
COMPETITION ANALYSIS
The key players that operate in the HVAC chillers market are Ab Electrolux, Airedale International Air Conditioning Ltd. Carrier Global Corporation, Daikin Industries Ltd., Honeywell International Inc., Johnson Controls International Plc, Shuangliang Eco-Energy Co.Ltd., Kaltra, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., PolyScience, Samsung Electronics Co. Ltd., Siemens AG, SKM Air Conditioning, Trane Technologies Plc, Thermal Care, Inc.
By Operation Type
By Condenser Type
By Application
By Region