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Sep 26, 2020 (Market Insight Reports) —
The Centrifugal Chiller Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies. We analyzed the impact of COVID-19 (Corona Virus) on the product industry chain based on the upstream and downstream markets, on various regions and major countries and on the future development of the industry are pointed out.
According to this study, over the next five years the Centrifugal Chiller market will register a 2.9%% CAGR in terms of revenue, the global market size will reach $ 43530 million by 2025, from $ 38820 million in 2019.
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The report presents the market competitive landscape and a corresponding detailed analysis of the major vendor/key players in the market. Top Companies in the Global Centrifugal Chiller Market: Johnson Controls, Multistack, Carrier, DAIKIN, Haier, Trane, Climaveneta, TICA, Midea, LG, MHI Group, Suzhou BSE and others.
Centrifugal Chiller is a centrifugal compressor uses a rotating disk or impeller to force gas to the rim of the impeller, increasing the velocity of the gas; a diffuser converts the velocity energy to pressure energy, the chiller then uses the vapor compression cycle to chill water (or other fluids) and transfers the heat collected from the chilled water plus the heat from operating compressor to a second water loop that can be cooled by a Cooling Tower.
Rising preference for smart connected devices has been observed to be one of the key trends in the market. This has led manufacturers to incorporate connected solutions in centrifugal chillers offering remote monitoring and preventive maintenance. Smart connected centrifugal chillers incorporate remote monitoring and cloud-based analysis tools, that enable service providers to gather data from equipment, analyze it and then notify customers of the best time to perform maintenance or make upgrades which reduce unplanned repairing costs and improve the operational efficiency of the centrifugal chiller. As a result, the popularity of smart connected centrifugal chillers is increasing in the centrifugal chiller market around the global.
Growing demand for energy efficient cooling systems, including centrifugal chillers across the globe would create opportunities for inverter-controlled centrifugal chiller market during the forecast period. Inverter technology in centrifugal chillers are highly efficient as compared to conventional AC systems. It offers benefits such as lower electricity bills, stable temperature, quick cooling, no sound disturbance, and a longer lifespan. Further, it offers improved partial load efficiency under low cooling water temperature conditions in off-peak seasons. Hence, the demand for inverter-controlled centrifugal chillers is expected to create opportunities in the market.
The construction of new stadiums and game villages would drive the requirement of centrifugal chillers. For instance, football stadiums in Qatar being developed are to be air-conditioned owing to the extreme environmental conditions. The air-conditioned stadiums would use high-end and heavy-duty centrifugal chillers to maintain the air temperature inside the stadiums and would offer a comfortable environment for the audience. Hence, several upcoming sports events and construction of supporting infrastructure would fuel the demand for centrifugal chillers market globally.
Middle East and Africa Centrifugal chiller Market
Middle East and Africa centrifugal chiller market recorded a dip in revenues due to slump in oil prices. This has also led to decrease in revenues generated by the oil & gas industry in the MEA region. However, factors like upcoming events, Dubai Expo 2020, FIFA World Cup 2022, and Africa Confederation Cup (AFCON) in 2019 has revived the MEA market. This has led to the construction of new stadiums and hotels, resulting in increased demand for centrifugal chillers in the region.
APAC Centrifugal chiller Market
China and Japan accounts for large number of transportation facilities (including airports and railways). As of 2018, China had 234 civil airports, while Japan and India recorded 97 and 126 airports, respectively. Moreover, in 2017, China built over 439 mi of metro lines. On the contrary, India added 137 mi of urban railway line in 2018.
Global Centrifugal Chiller Market Split By Product Type And Applications:
This report segments the global Centrifugal Chiller market on the basis ofTypesis:
These two types of machines, 500 to 1,000 tons and 1,000 to 2,000 tons, account for nearly 80 percent of the market.
On the basis of Application, the Global Centrifugal Chiller market is segmented into:
Commercial application scenarios include:shopping mall, office building, public place of entertainment, hotel,etc.Industrial application scenarios include: automobile industry, semiconductor manufacturing industry, food processing industry, chemical industry, etc.Others application scenarios include: government buildings, airports, railway stations, and other public buildings.
The research study evaluates the overall size of the market, by making use of a bottom-up approach, wherein data for different industry verticals, and end-user industries and its applications across various product types have been recorded and predicted during the forecast period. These segments and sub-segments have been documented from the industry specialists and professionals, as well as company representatives, and are outwardly validated by analyzing previous years’ data of these segments and sub-segments for getting an accurate and complete market size.
Influence Of The Centrifugal Chiller Market Report:
-Comprehensive assessment of all opportunities and risk in the Centrifugal Chiller market.
– Centrifugal Chiller market recent innovations and major events.
-A Detailed study of business strategies for growth of the Centrifugal Chiller market-leading players.
-Conclusive study about the growth plot of Centrifugal Chiller market for forthcoming years.
-In-depth understanding of Centrifugal Chiller market-particular drivers, constraints and major micro markets.
-Favorable impression inside vital technological and market latest trends striking the Centrifugal Chiller market.
The report has 150 tables and figures browse the report description and TOC:
What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The Global Centrifugal Chiller Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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