#MEA Chiller Market Growth
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Increasing Construction Activities Boosts MEA Chiller Market
The MEA chiller market is estimated to touch USD 1,227.6 million in 2023, which will reach USD 1,872.5 million, advancing at a 6.5% compound annual growth rate, by 2030.
The growth of this industry can be because of the increasing progression in the construction sector, the growing requirement for chillers for district cooling systems, and government support.
Moreover, the rising demand for chillers from the hospitality and transportation sectors is also fueling the industry. Additionally, the regional nations are concentrating on utilizing renewable energy for chillers and energy-efficient cooling and heating solutions.
Furthermore, the providers of district cooling are now emphasizing energy-efficient technologies to decrease their operational expenses and enhance the feasibility of their procedures. These strategies will further boost the progression of this industry during this decade.
The screw category, based on chiller type, is the largest contributor to the industry. This can be because of the increasing acceptance of screw chillers in industrial and commercial sectors.
Moreover, this category is further split into two parts: air-cooled and water-cooled, among these, water-cooled chillers account for a significant share. This can be because water-cooled chillers are extensively favored when the power consumption is more than 5 MW coupled with the arrival of developed water-cooled chillers.
The commercial category, based on end users, is leading the MEA chiller market. Moreover, this category comprises transportation, government, hospitality, offices and buildings, supermarket/hypermarket, healthcare, and other sectors, which together creates a high requirement for chillers.
Furthermore, between these, the transportation category will propel at a swift rate in the coming years. This will be because of the current as well as upcoming transportation developments in Nigeria, Egypt, Saudi Arabia, Qatar, Israel, and the U.A.E.
Whereas, the industrial category will advance at a remarkable rate during this decade. This is because of the increasing count of industrial projects, including oil & gas, in this region. The U.A.E., for instance, is witnessing huge funding for oil & gas plant expansion projects to increase the capacity of production.
Saudi Arabia is the largest contributor to the industry. This is because the nation is observing enlarged construction activities, which comprise metro and hotel projects, because of the enhancing tourism sector.
Moreover, the growth is also driven by government initiatives, including the National Transformation Programme (NTP) and Saudi Vision 2030.
Whereas, the U.A.E. will propel at a significant rate, of 6.7%, during this decade. This is because of the increasing count of construction projects in this nation, including hotels, because of the surging count of tourists.
With the continuous rise in construction activities, the MEA chiller industry will continue to progress in the coming years.
Source: P&S Intelligence
#MEA Chiller Market Share#MEA Chiller Market Size#MEA Chiller Market Growth#MEA Chiller Market Applications#MEA Chiller Market Trends
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Water-Cooled Chillers Market Research, Analysis by Trends 2032
The Reports and Insights, a leading market research company, has recently releases report titled “Water-Cooled Chillers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Water-Cooled Chillers Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Water-Cooled Chillers?
The global water-cooled chillers market size reached US$ 4.8 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 5.6 billion in 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.
What are Water-Cooled Chillers Market?
Water-cooled chillers are refrigeration systems utilized to extract heat from liquids by employing water as the cooling agent. These chillers find extensive applications in air conditioning, industrial processes, and large-scale facilities where effective cooling is crucial. The process involves circulating water through a condenser to absorb heat from a refrigerant gas. This gas is subsequently compressed and cooled, generating chilled water for various cooling needs. Known for their efficiency and ability to handle substantial cooling demands, water-cooled chillers are ideal for environments requiring precise temperature regulation and energy conservation.
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What are the growth prospects and trends in the Water-Cooled Chillers Market industry?
The water-cooled chillers market growth is driven by various factors and trends The water-cooled chillers market includes systems that effectively remove heat from liquids using water as a cooling agent. These chillers are vital for applications in air conditioning, industrial processes, and large-scale facilities where efficient cooling is paramount. Growth in the market is fueled by rising demand for energy-efficient cooling solutions, stringent environmental regulations favoring sustainable technologies, and expanding construction and industrial activities. Manufacturers are prioritizing improvements in chiller efficiency, reliability, and environmental sustainability to meet varied customer demands and global regulatory standards. Hence, all these factors contribute to water-cooled chillers market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Type:
Centrifugal Chillers
Screw Chillers
Absorption Chillers
Reciprocating Chillers
Scroll Chillers
Capacity
Small Capacity Chillers
Medium Capacity Chillers
Large Capacity Chillers
End-Use Industry
Manufacturing
Commercial Buildings
Data Centers
Healthcare
Hospitality
Others
Application
Air Conditioning
Process Cooling
Compressor Type
Scroll Compressors
Screw Compressors
Centrifugal Compressors
Reciprocating Compressors
Refrigerant Type
Hydrochlorofluorocarbon (HCFC)
Hydrofluorocarbon (HFC)
Ammonia
Others
Power Source
Electric Chillers
Absorption Chillers
Engine-Driven Chillers
Component
Compressors
Condensers
Evaporators
Control Systems
Others
Sales Channel
Direct Sales
Distributor/Wholesaler
Service Type
Installation and Commissioning
Maintenance and Repair
Consulting and Training
Segmentation By Region:
North America:
United States
Canada
Europe:
Germany
The U.K.
France
Spain
Italy
Russia
Poland
BENELUX
NORDIC
Rest of Europe
Asia Pacific:
China
India
Japan
South Korea
Australia
New Zealand
ASEAN
Rest of Asia Pacific
Latin America:
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa:
Saudi Arabia
United Arab Emirates
South Africa
Egypt
Israel
Rest of MEA.
Who are the key players operating in the industry?
The report covers the major market players including:
Daikin Industries Ltd.
Johnson Controls International plc
Trane Technologies plc
Carrier Global Corporation
Mitsubishi Electric Corporation
York (Johnson Controls)
LG Electronics Inc.
Schneider Electric SE
Climaveneta (Mitsubishi Electric)
Smardt Chiller Group Inc.
McQuay International (Daikin)
Thermax Limited
Multistack International Limited
Frigel Firenze S.p.A.
Broad Air Conditioning Co. Ltd.
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#Water-Cooled Chillers Market Size#Water-Cooled Chillers Market Share#Water-Cooled Chillers Market Demand#Water-Cooled Chillers Market Analysis
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Development of Smart Cities Fueling Middle East & Africa Chiller Market Boom
In recent years, the sales of chillers have increased considerably in the Middle East and Africa (MEA) region, primarily because of the surging construction activities in the region. According to reports, the region’s construction industry registered a year-over-year (YoY) rate of 7.5% from 2018 to 2019, and it is predicted to grow at an average rate of 6.8% till 2022. Moreover, the launch of several infrastructure development projects has propelled the demand for chillers, as they are deployed in large numbers in railway stations, offices, supermarkets, buildings, and metro stations.
The governments of several countries in the region have made huge investments in infrastructure development projects for upcoming events, such as the FIFA World Cup 2022 and the Dubai Expo 2020 (which has been postponed till 2021). Furthermore, Etihad Rail signed a memorandum of understanding (MoU) with ZonesCorp in March 2019 in order to establish logistics and railway facilities in the Industrial City of Abu Dhabi (ICAD). These facilities are expected to cover an area of around 6 million square meters. The agreement also aims to develop a sustainable railway network for connecting the entire U.A.E.
Additionally, the Dubai Silicon Park smart city project, which is an initiative of Dubai Silicon Oasis Authority, was completed by mid-2019, which propelled the MEA chiller market to unprecedented heights. It consists of 71,000 sq. m of office space, 46,000 sq. m of residential area, 25,000 sq. m of commercial space, and cafes, fitness centers, and restaurants. Apart from the aforementioned factors, the growing public awareness about inverter-powered chillers is also expected to create lucrative growth opportunities for the players operating in the industry.
As per the estimates of the market research organization, P&S Intelligence, the revenue of the MEA chiller market will rise from $1.1 billion in 2018 to $1.3 billion by 2024, registering a CAGR of 3.6% from 2019 to 2024. Scroll, screw, reciprocating, absorption, and centrifugal are the most widely used chiller variants in the MEA region. Amongst these, the demand for screw chillers was found to be the highest during the last few years. Air-cooled and water-cooled are the two main types of screw chillers. Over the last few years, the popularity of the water-cooled variants surged sharply in the region.
This was because these chillers are highly effective, when more than 5 MW of power is required for cooling. However, the sales of the air-cooled variants were observed to be higher in the years gone by. Residential, industrial, and commercial sectors are the major end users of chillers in the region. Amongst these, the requirement for chillers was found to be the highest in the commercial sector in the past. Supermarkets/hypermarkets, government organizations, healthcare facilities, offices and buildings, transportation systems, and hotels and resorts are the major commercial establishments in which chillers are used.
Geographically, U.A.E. is predicted to demonstrate rapid expansion in the MEA chiller market in the upcoming years. This will be because of the surging number of hotel development projects in the country, owing to the soaring tourist footfall. The country is witnessing the development of several tourist attractions, especially in Dubai, such as the Heart of Europe 2020, Dubai Creek Harbour 2025, Marasi Business Bay 2022, Marsa Al Arab 2020, and Jewel of the Creek 2019, which is fueling the surge in the hospitality sector. This is, in turn, propelling the sales of chillers in the country.
Thus, the demand for chillers will soar in the MEA region in the coming years, mainly because of the increasing construction and infrastructure development activities.
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Absorption Chillers Market Foraying into Emerging Economies 2025
Depending upon the heat source assistance, an absorption chiller produce chilled water. Mindaspire Market Research (MAMR) has published a report, where it is expected that global market for absorption chillers is likely to witness a significant growth at 6.3% CAGR through the forecast period, 2017-2025. It is also added in the analysis that global market for absorption chillers is predicted to share around US$ 1,300 Mn sales revenue in 2017 and is estimated to account for over US$ 2,050 Mn sales revenue share through 2025.
Global Absorption Chillers Market: Dynamics
The published study by MAMR has developed comprehensive forecast on the global absorption chiller market. The in-depth analysis has listed a range of factors that are driving the adoption of absorption chiller in the market. Besides, the latest trends, opportunities and restraints are also discussed in the report. Owing to the growing demand for the renewable energy sources, the primary sources are utilizing more efficiently in different connected applications are also rising robustly. These two factors are gearing up the market for growing rapidly in the approaching years. Besides, the solar energy is empowering the absorption chillers for various utilities, which plays as a driver in the market for developing vigorously.
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Key Segments: Global Absorption Chillers Market
The global market for absorption chillers has five major segments on the basis of technology, different types of absorber, various applications, different power source and regions. On the basis of technology, the market has segmented in double-stage and single-stage segments. Besides, ammonia and lithium bromide are the further sub-segments that fall in absorber type segment. Based on different power resources, there are three sub-segments, such as water driven, indirect fired and direct fired, in the global market for absorption chillers. The applications of absorption chillers has bifurcated into industrial and non-industrial sub-segments. Furthermore, power, chemicals, petroleum, food & beverages and pulp & paper are the sub-segments in industrial segment. Additionally, the non-industrial segment has residential and commercial sub-segments.
On the basis of regions, the global market for absorption chillers has widely segmented into five leading regions that include, Asia-Pacific, Europe, North America, Middle-East & Africa and Latin America. Among all the regions, Asia Pacific is expected to dominate the market for absorption chillers in terms of huge sales revenue. From this region, the market in China is accounted for CAGR of 7.2%, whereas the Indian market is estimated to grow at a CAGR of 7.1% during the forecast period. In 2017, the absorption chillers market in MEA is anticipated to share US$ 289.2 Mn revenue and is also expected to grow at 7.0% CAGR in the coming years.
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Key Players
The global market for absorption chillers has profiled various companies as the key players in the coming years. The key participants are EAW Energieanlagenbau GmbH, Thermax Inc., CaMAMRer Corporation, Trane Inc., Johnson Controls, Inc., Shuangliang Eco-Energy Systems Co. Ltd., Yazaki Corporation, Broad Air Conditioning Co. Ltd., Robur Corporation, Hyundai Climate Control Co. Ltd. and Kawasaki Thermal Engineering Co. Ltd., among others.
Table of Content
Executive Summary
Assumptions and Acronyms
Research Methodology
Absorption Chillers Market Overview
4.1. Introduction
4.1.1. Absorption Chillers Market Definition and Sub-segment Overview
4.1.2. Absorption Chillers Market Taxonomy
4.2. Absorption Chillers Market Dynamics
4.2.1. Drivers
4.2.2. Restraints
4.2.3. Opportunity
4.3. Value Chain
4.4. Global Absorption Chillers Market Forecast
4.4.1. Market Size (US$ Mn) and Y-o-Y Growth
4.4.2. Market Volume (Units) Forecast
4.4.3. Absolute $ Opportunity
4.5. Regional Average Pricing Analysis
4.6. Market Trends
Global Absorption Chillers Market Analysis, By Application
5.1. Introduction
5.1.1. Y-o-Y Growth Comparison, By Application
5.1.2. Market Share & Basis Point (BPS) Analysis, By Application
5.2. Market Forecast, By Application
5.2.1. Industrial
5.2.1.1. Market Value (US$ Mn) and Volume (units) Forecast
5.2.1.1.1 Petroleum
5.2.1.1.2 Food and Beverages
5.2.1.1.3 Power
5.2.1.1.4 Chemicals
5.2.1.1.5 Pulp and Paper
5.2.1.1.6 Other Industrial
5.2.2. Non-industrial
5.2.2.1. Market Value (US$ Mn) and Volume (units) Forecast
5.3. Market Attractiveness Analysis, By Application
Global Absorption Chillers Market Analysis, By Absorber Type
6.1. Introduction
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Middle East District Cooling Market Report to 2028 | Segmentation and Opportunities Analysis
Rising consumption of power across commercial and residential establishments will drive Middle East district cooling market forecast over 2022-2028. Industry players have been providing solutions that address sustainability concerns. They are envisioning a healthier, net-zero future by delivering cost and energy-efficient cooling services to medical facilities, laboratories, clinics, and other entities operating in the healthcare space. Government buildings, universities, and educational institutes are likely to refurbish their cooling infrastructure over the next few years.
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Regional healthcare establishments to fuel product adoption
As the country boasts of more than 70 hospitals offering high quality care, Oman district cooling industry share from the healthcare segment will record a high growth rate through 2028. The rising burden of chronic conditions has been sparking public and private collaborations, expanding the nation’s healthcare budget significantly.
Dubai district cooling industry share from healthcare applications is set to achieve a major milestone over the next few years, thanks to the presence of some of the world’s biggest industry players. The Emirates Central Cooling Systems Corporation (Empower) has been servicing more than 40 healthcare projects across the MEA. The company offers a 142,000 refrigeration tons (RT) capacity across the Phase I and II of its Dubai Health Care City Project.
Industrial projects to account for a sizable share
Countries in Middle East have been seeing a growing number of industrial investments. As such, construction of technologically advanced factories will generate opportunities for cooling solutions. Reduced noise pollutions, minimal greenhouse gas emissions, and reduction of refrigerant usage are some top benefits offered by industrial district cooling solutions.
When industrial units deploy these services, they can save considerable space as there is no need for chiller plant, which comes with a conventional air-conditioning system. Several factory owners have been preferring these solutions instead of centralized air-conditioning systems, as they can simplify their building management.
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UAE district cooling companies strengthen their foothold
Top regional companies such as Tabreed (National Central Cooling Company PJSC), have been adopting strategies such as partnerships, expansions, and acquisitions. Tabreed has expanded its portfolio to reach 86 plants, of which 75 are in the UAE. Recently, the company announced that it will begin working on new projects across Saudi Arabia, and Egypt. The company recently partnered with the World Bank’s International Finance Corporation (IFC) and successfully acquired the Al Maryah plant.
As new residential and commercial projects take shape across the Middle East, the regional district cooling industry outlook remains strong. For instance, Wasl properties recently announced a large project in Al Qusais, Dubai, consisting of around 6,200 homes, clinics, shops and other commercial properties across 62 buildings. Further, it has been reported that Saudi Arabia’s Public Investment Fund has been pushing for more construction projects in the region. Smart city concept is also gaining traction across countries like Egypt, which will impact the adoption of HVAC technologies, possibly fostering regional district cooling market trends.
It has been estimated that Middle East district cooling market size could grow at a CAGR of more than 9% through 2028. National Central Cooling Company PJSC (Tabreed), Emirates Central Cooling System Corporation (Empower), ARANER, Emicool, Shinryo Corporation, and SNC Lavalin are some top providers of district cooling services in the Middle East. These companies have been aggressively investing in R&D for gaining a competitive edge in the international landscape.
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Condensing Unit Market Report Forecast by Development, Trends, and Forecast (2021-2028)
Competitive Landscape and Condensing Unit Market Share Analysis
Condensing unit market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to condensing unit market.
The major players covered in the condensing unit market report are Emerson Electric Co.; Carrier.; Danfoss A/S; GEA Group Aktiengesellschaft; Heatcraft Worldwide Refrigeration; Voltas, Inc.; BITZER Kühlmaschinenbau GmbH; Baltimore Aircoil Company; Dorin S.p.A.; ADVANSOR A/S; SCM Frigo S.p.A.; DAIKIN APPLIED; EVAPCO, Inc.; Frascold; FreezeIndia Manufacturing Private Limited; Howe Corporation.; Hussmann Corporation.; Blue Star Limited.; MTA S.p.A.; National Comfort Products.; Patton Ltd.; Safe Air Technology International; among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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Condensing Unit Market Country Level Analysis
Condensing unit market is analysed and market size, volume information is provided by country, type, function, refrigerant type, compressor technology, end use and application as referenced above.
The countries covered in the condensing unit market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America, and Europe dominates the condensing unit market due to the increasing adoption of advanced technology in the region. Middle East and Africa region is expected to hold the largest growth rate due to the growing applications of refrigeration in various end-use industries such as chemicals and petrochemicals and plastics in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Global Condensing Unit Market Scope and Market Size
Condensing unit market is segmented on the basis of type, function, refrigerant type, compressor technology, end use and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
· On the basis of type, the condensing unit market is segmented into air-cooled condensing unit, water-cooled condensing unit, and evaporative condensing unit.
· Based on function, the condensing unit market is segmented into air conditioning, refrigeration, and heat pumps.
· On the basis of compressor technology, the condensing unit market is segmented into reciprocating, hermetic, semi-hermetic, open, rotary, scroll, rotary vane, screw, and centrifugal.
· Based on refrigerant type, the condensing unit market is segmented into fluorocarbons, hydrocarbons, and inorganics. Fluorocarbons have been further segmented into HCFCS, HFCS, and HFOS. Hydrocarbons have been further segmented into isobutane, propane, and others. Others have been further sub segmented into butane, propene, and isopentane. Inorganics have been further segmented into ammonia, CO2, and others. Others have been further sub segmented into water, and air.
· On the basis of end use, the condensing unit market is segmented into residential, commercial, and industrial.
· Condensing unit market is segmented in terms of market value, volume, market opportunities, and niches into multiple applications. The application segment for condensing unit market include high temperature, medium temperature, and low temperature.
Market Analysis and Insights : Global Condensing Unit Market
Global Condensing unit market will reach an estimated valuation of USD 53.55 billion by 2028, while registering this growth at a rate of 8.50% for the forecast period of 2021 to 2028. Condensing unit market report analyses the growth, which is currently being growing due to the high durability and long life of advanced condensing units.
The temperature control devices used to condense a material from its gaseous state to a liquid state by cooling it are known as the condensing unit. This machine may either be a heat pump or an air conditioning unit. For condensation purposes, condensing systems are primarily used in refrigerators, air conditioners, heat pumps and chillers. It consists of three major components namely, compressor, fan, and condensing coil.
The growing demand of condensing units in commercial and industrial sectors in the developing economies, increasing number of population across the globe along with rising levels of disposable income of the people, rising demand for improved quality condensing units for various applications, increasing growth of the retail sector are some of the major as well as vital factors which will likely to augment the growth of the condensing unit market in the projected timeframe of 2021-2028. On the other hand, growing number of technological advancements along with rising demand for natural refrigerants which will further contribute by generating massive opportunities that will lead to the growth of the condensing unit market in the above mentioned projected timeframe.
Stringent environmental regulations on refrigerants used along with rising number of complexities and uncertainties for manufacturers which will likely to act as market restraints factor for the growth of the condensing unit in the projected timeframe mentioned above.
This condensing unit market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on condensing unit market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Condensing Unit Market, By Type (Air-Cooled Condensing Unit, Water-Cooled Condensing Unit, Evaporative Condensing Unit), Function (Air Conditioning, Refrigeration, Heat Pumps), Refrigerant Type (Fluorocarbons, Hydrocarbons, Inorganics), Compressor Technology (Reciprocating, Hermetic, Semi-Hermetic, Open, Rotary, Scroll, Rotary Vane, Screw, Centrifugal), Application (High Temperature, Medium Temperature, Low Temperature), End Use (Residential, Commercial, Industrial), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
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Refrigerated Display Cases Market 2021 Segmentation and Analysis by Recent Trends, consumption by Regional data, Development, Investigation, Growth by to 2031
A comprehensive research publication by Future Market Insights titled “Refrigerated Display Cases Market: Global Industry Analysis 2012 – 2016 and Opportunity Assessment 2017 – 2027” is focussed on understanding the worldwide demand and consumption of refrigerated display cases, the key aspects influencing customer purchase decisions, the key areas of innovations, the enhancement of features of refrigerated display cases and key industry developments across major geographies along with impact analysis in 2017 and forecast scrutiny pertaining to value and volume of the global refrigerated display cases Industry market till 2027.
Global Refrigerated Display Cases Market: Forecast
After an in-depth investigation of the global refrigerated display cases market, Future Market Insights predicts a revenue growth of about US$ 16 Bn by the end of 2027, reflecting a CAGR of 6.2% during the period of forecast.
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Global Refrigerated Display Cases Market: Segmental Analysis
The global refrigerated display cases market is categorised by product type, by construction, by end user and by region. By product type, it is segmented into plug-in device and remote operated device. By construction it is segmented into horizontal, hybrid and vertical. By end user it is segmented into food service sector and retail food and beverage sector; and by region, the market is divided into North America, Western Europe, Eastern Europe, Latin America, APEJ, Japan and Middle East and Africa (MEA).
Remote operated device segment is poised to dominate the global refrigerated display cases market by product type by reflecting a higher market share and is poised to grow at a high CAGR of 6.5% during the period of forecast. Demand in the plug-in device market is also rising, especially in emerging economies. The plug-in device segment is poised to reflect a CAGR of 5.8% in terms of value. The remote operated device segment is expected to reflect a market share of more than 55% by the end of 2027.
Vertical segment by construction is expected to dominate the market with respect to market value and is anticipated to grow at a CAGR of 6.4% throughout the period of forecast. The hybrid segment is anticipated to register the highest growth rate to reflect a CAGR of 6.7% during the forecast period.
Retail food and beverage sector segment by end user is anticipated to grow at a higher growth rate to reflect a CAGR of 6.4% during the period of forecast. This segment dominates the global refrigerated display cases market by end user with respect to market value as it is expected to reach a value of just under US$ 13 Bn by the end of 2027. Market value of the food service sector segment is less compared to that of the retail food and beverage sector segment and is poised to grow at a CAGR of 5.1% throughout the period of forecast.
APEJ to Reflect Speedy Growth Throughout the Forecast Period
The APEJ region shows a high growth to register a CAGR of 9.0% throughout the period of forecast surpassing North America and Western Europe in terms of demand. Rapid urbanisation and increasing income levels in India, China and South Korea are the main contributors for growth of the APEJ region in the global refrigerated display cases market. Moreover, along with a growing population and rising demand for food, the FMCG market has been performing well in the region and major retail chains are shifting their focus towards expanding their footprint in APEJ countries. This has spurred the growth of the refrigerated display cases market in this region. Another trend observed in APEJ is the shift of manufacturing base to this region. Besides enhancing technology, maintaining overall product cost is also a key concern for manufacturers. In order to decrease the cost of manufacturing, some players in the market have established their production facilities in countries such as China, Indonesia and India, where labour costs are relatively low as compared to other countries. North America and Western Europe are expected to face maturity in the coming years.
Competitive Landscape
The research report on the global refrigerated display cases market has profiled tier players involved in the refrigerated display cases market such as Panasonic Corporation, Dover Corporation, Frigoglass SAIC, Arneg S.p.A, AHT Cooling System GmbH, Illinois Tool Work Inc., Epta S.p.a. Refrigeration, Standex International Corporation, Lennox International Inc., United Technologies Corp., Metalfrio Solutions, Inc., Clabo Group, True Manufacturing, Carter Retail Equipment Ltd., Nakano Refrigerators Co. Ltd., QBD Modular Systems Inc., Zero Zone Inc., Igloo International, Marc Refrigeration Manufacturing, Inc., Aucma Co., Ltd., Haier Carrier, Isa S.p.a., Borgen Systems and Koxka.
Table Of Content
1. Executive Summary
1.1. Market Overview
1.2. Market Analysis
1.3. FMI Analysis and Recommendations
1.4. Wheel of Fortune
2. Market Introduction
2.1. Market Taxonomy
2.2. Market Definition
2.3. Parent Market Overview
3. Market Viewpoint
3.1. Macro-Economic Factors
3.2. Global Heating & Cooling Equipment Industry Overview
3.3. Heating and Cooling Equipment Industry Scenario Vs. Refrigerated Display Cases Industry Scenario
3.4. Global Commercial Refrigeration Equipment Market
3.5. Key Factors Influencing Commercial Refrigeration Systems Purchase Decision-making
3.6. Commercial Refrigeration Equipment – Product Replacement Rates
3.7. Commercial Refrigeration Equipment – Application Matrix
3.8. Patent Analysis – Key Area of Innovations
3.9. How Properties And Features of RDC has Enhanced Over Past Decade?
3.10. Manufacturing Hubs for Refrigerated Display Cases
3.11. Key Industry Developments Over The Past Five Years
3.12. Prospective Line of R&D
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Foodservice Equipment Market Segmentation By Product Type – Food Preparation Equipment, Cooking Equipment, Heating & Holding Equipment, Refrigerators & Chillers, Baking Equipment, Merchandisers, Dishwashers, Other F&B Service Equipment; By End Use – Full Service Restaurants, Quick Service Restaurants, Caterers and Hotels & Club Restaurants: http://www.futuremarketinsights.com/reports/foodservice-equipment-market
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Refrigerants Market Competitive Landscape, Analysis Report By Product, By Application, By End Use, By Region
Reports and Data has recently added an investigative study report on the “Global Refrigerants Market”. The report assesses the Refrigerants Market with regards to the profit margin, value chain analysis, recent developments, opportunities, year-on-year growth along with SWOT analysis, Porter’s Five Forces analysis, and PESTEL analysis. It also provides market estimates, size, and forecast for key segments and sub-segments for the period of 2020-2027. An in-depth analysis of the growth tactics and expansion undertaken by the prominent players of the market are covered in the report.
The Global Refrigerants Market size is forecast to surpass USD 39.87 billion by 2027 from USD 25.21 Billion in 2019, growing at a CAGR of 5.8%, according to a report by Reports and Data.
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The report covers the market dynamics analysis, company profiles, production and manufacturing capacity, product specifications, product value, and key players. The report also offers an insight into the growth prospects during the forecast period. The Refrigerants Market report also offers detailed data on the key market players to impart a deeper understanding of the competitive landscape. The report focuses on the key market elements to ensure the readers gain a competitive advantage and maximum benefit of the market data to assist them in achieving substantial growth and an advantageous position in the global market.
The major companies profiled in the report are:
Daikin Industries, Ltd., Asahi Glass Corporation, The Chemours Company, Sinochem Group, Honeywell International Inc., Gujarat Fluorochemicals Limited, Airgas Refrigerants Inc., Linde Group, Mexichem, and SRF Limited.
On the basis of the product type, the market is segmented into:
· CFCs
· HCFCs
· HFCs
· Hydrocarbons
· Inorganic Refrigerants
· Mixtures
On the basis of the application, the market is segmented into:
· Air Conditioners
· Refrigerators
· Chillers
· Heat Pumps
· Electronics Devices
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The report further provides an extensive analysis of the key geographical regions where the market is spread and offers a comprehensive overview of the market size, market share, revenue generation, production and consumption patterns, supply and demand ratio, and import/export ratio, among others.
Based on the regions, the report covers the following regions:
• North America (U.S.A., Canada)
• Europe (U.K., Italy, Germany, France, Rest of EU)
• Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Rest of Latin America)
• The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Coverage of the Report:
· An in-depth analysis of the historical years and the forecast period has been offered in the report
· Refrigerants Market dynamics, including key drivers, challenges, restraints, threats, and growth opportunities have been analyzed in reports
· SWOT analysis and Porter’s Five Forces analysis with feasibility analysis and investment return analysis
· Competitive landscape benchmarking along with a comprehensive overview of their company profiles, product portfolios, strategic business decisions, and financial standings
· The report covers mergers and acquisitions, product launches and brand promotions, joint ventures, collaborations, and partnerships among few
· Pictorial representation of the key statistical data into graphs, tables, charts, diagrams, and figures
· An in-depth analysis of the current and emerging market trends and developmental patterns
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Water-Cooled Chillers Market Research, Analysis by Trends 2032
The Reports and Insights, a leading market research company, has recently releases report titled “Water-Cooled Chillers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Water-Cooled Chillers Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the Water-Cooled Chillers?
The global water-cooled chillers market size reached US$ 4.8 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 5.6 billion in 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.
What are Water-Cooled Chillers Market?
Water-cooled chillers are refrigeration systems utilized to extract heat from liquids by employing water as the cooling agent. These chillers find extensive applications in air conditioning, industrial processes, and large-scale facilities where effective cooling is crucial. The process involves circulating water through a condenser to absorb heat from a refrigerant gas. This gas is subsequently compressed and cooled, generating chilled water for various cooling needs. Known for their efficiency and ability to handle substantial cooling demands, water-cooled chillers are ideal for environments requiring precise temperature regulation and energy conservation.
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What are the growth prospects and trends in the Water-Cooled Chillers Market industry?
The water-cooled chillers market growth is driven by various factors and trends The water-cooled chillers market includes systems that effectively remove heat from liquids using water as a cooling agent. These chillers are vital for applications in air conditioning, industrial processes, and large-scale facilities where efficient cooling is paramount. Growth in the market is fueled by rising demand for energy-efficient cooling solutions, stringent environmental regulations favoring sustainable technologies, and expanding construction and industrial activities. Manufacturers are prioritizing improvements in chiller efficiency, reliability, and environmental sustainability to meet varied customer demands and global regulatory standards. Hence, all these factors contribute to water-cooled chillers market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Type:
Centrifugal Chillers
Screw Chillers
Absorption Chillers
Reciprocating Chillers
Scroll Chillers
Capacity
Small Capacity Chillers
Medium Capacity Chillers
Large Capacity Chillers
End-Use Industry
Manufacturing
Commercial Buildings
Data Centers
Healthcare
Hospitality
Others
Application
Air Conditioning
Process Cooling
Compressor Type
Scroll Compressors
Screw Compressors
Centrifugal Compressors
Reciprocating Compressors
Refrigerant Type
Hydrochlorofluorocarbon (HCFC)
Hydrofluorocarbon (HFC)
Ammonia
Others
Power Source
Electric Chillers
Absorption Chillers
Engine-Driven Chillers
Component
Compressors
Condensers
Evaporators
Control Systems
Others
Sales Channel
Direct Sales
Distributor/Wholesaler
Service Type
Installation and Commissioning
Maintenance and Repair
Consulting and Training
Segmentation By Region:
North America:
United States
Canada
Europe:
Germany
The U.K.
France
Spain
Italy
Russia
Poland
BENELUX
NORDIC
Rest of Europe
Asia Pacific:
China
India
Japan
South Korea
Australia
New Zealand
ASEAN
Rest of Asia Pacific
Latin America:
Brazil
Mexico
Argentina
Rest of Latin America
Middle East & Africa:
Saudi Arabia
United Arab Emirates
South Africa
Egypt
Israel
Rest of MEA.
Who are the key players operating in the industry?
The report covers the major market players including:
Daikin Industries Ltd.
Johnson Controls International plc
Trane Technologies plc
Carrier Global Corporation
Mitsubishi Electric Corporation
York (Johnson Controls)
LG Electronics Inc.
Schneider Electric SE
Climaveneta (Mitsubishi Electric)
Smardt Chiller Group Inc.
McQuay International (Daikin)
Thermax Limited
Multistack International Limited
Frigel Firenze S.p.A.
Broad Air Conditioning Co. Ltd.
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Growing Construction Industry Driving Middle East and Africa HVAC Market
A number of factors, such as the increasing requirement for energy-efficient heating, ventilation, and air conditioning (HVAC) systems, expanding construction industry, rising number of strict government regulations, growing tourism sector, and upcoming major events, are projected to boost the growth of the Middle East and Africa (MEA) HVAC market at a CAGR of 4.9% in the forecast period (2019–2024). At this growth rate, the market size is expected to reach $10.1 billion by 2024 from $7.8 billion in 2018.
The Middle East and Africa HVAC market is witnessing the increasing need for energy-efficient HVAC systems, as these are very crucial to control the greenhouse gas emission and limit the impact of global warming. Moreover, the Gulf Cooperation Council (GCC) countries are introducing sustainable development policies and have strict regulations for energy-efficient solutions. Hence, to obey the regulations and support policies, market players are introducing energy-efficient systems in the region. For instance, due to violating the standards of Saudi Energy Efficiency Center, the customs department of Saudi Arabia seized 759,000 products in 2017.
The primary factor improving the market growth prospects is the growing construction industry. International events like the World Expo 2022 in the U.A.E. and the FIFA World Cup 2022 in Qatar are projected to fuel the tourism sector, which, in turn, drives the construction industry. For instance, as per the Ministry of Development Planning and Statistics, Qatar, eight football stadiums are under construction, which are likely to be completed by 2022. Thus, with the increasing construction activities, the demand for HVAC systems is surging in the region.
The type segment of the Middle East and Africa HVAC market is classified into heating, ventilation, and cooling. Among these, the cooling category held the largest market share in 2018. This is attributed to the fact cooling systems are required in almost all commercial and residential facilities. This category is further classified into ducted split/packaged unit, chiller, split unit, room air conditioner (AC), and variable refrigerant flow (VRF). Of these, the VRF category is expected to witness the fastest growth during the forecast period, owing to its economical nature and wide usage in commercial spaces.
Additionally, the Middle East and Africa HVAC market is categorized into residential, commercial, and industrial, on the basis of end user. Among these, the commercial category accounted for the largest market share in 2018. This is due to the rising number of commercial facilities, surging hospitality industry, increasing infrastructure investments in the region. For instance, the Saudi Government has invested $26.6 billion for the expansion of the grand mosque in Mecca and $16.5 billion for the Haramein high speed railway, connecting Mecca and Medina.
Furthermore, based on country, Saudi Arabia accounted for the largest share in 2018 in the Middle East and Africa HVAC market. This is due to the increasing number of construction projects, with a focus on green buildings, in the country. King Abdullah Financial District (KAFD), a new financial hub in Saudi Arabia, is a key example of the green building project. The rising construction of green buildings is pushing the demand for high-efficient HVAC systems in the nation.
Thus, the growing construction industry and the increasing demand for HVAC systems in MEA are expected to propel the growth of the market during the forecast period.
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Lithium Market Growth Drivers, Impact Analysis, Business Overview & Market Opportunities by 2023
Lithium Market Overview:
Lithium can be defined as a low-density metal that finds application in both inorganic and organic reactants. Lithium can be found with other compounds in brine pools and igneous rock. Its high density enables it to store substantial power within a very limited space. Its applications cover myriad sectors like ceramics, lithium soaps, fire-viewing windows for fireplaces, air-conditioners, lubricating greases, and batteries. Its use as power storage unit for portable electronic devices, smartphones, and electric vehicles can impact the market growth.
Market Research Future’s (MRFR’s) take on the global lithium market reveals a possibility of crossing USD 8.37 billion valuation by the end of 2024 with a CAGR of over 10.6%. One of the major market drivers is the electric vehicles that includes diverse types like pure battery electric vehicles (BEVs), plug-in hybrid electric vehicles (PHEVs), and hybrid electric vehicles (HEVs). It finds application as lithium bromide in absorption chillers for air conditioning. It can assist in dehumidification, air regeneration, and also, cooling process, which is bound to provide traction for growth.
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Lithium Market Segmentation:
The global market for lithium can be segmented into product type and application for a better understanding of the global market in the coming years. The segmentation includes various market details regarding factors and this segmentation is getting bolstered by volume-wise and value-wise data.
By product type, the global market for lithium can be segmented into lithium metal, lithium carbonate, lithium hydroxide, butyllithium, lithium chloride, and others.
By application, the market for lithium includes greases, energy storage, glasses & ceramics, frits, adhesives, air treatment, and others.
Lithium Market Regional Analysis:
The global market for lithium includes regions like APAC (Asia Pacific), North America, Latin America (LATAM), Europe, and the Middle East & Africa (MEA). These regions can be better analyzed with inputs from various demographic understandings.
Europe has the maximum market share and it covers almost 30% of the global market. This dominance would continue in the coming years as well. Countries like Sweden, Norway, Belgium, and Iceland have initiated the intake of battery cars to take on globalization, which would increase the rate of incorporation of lithium in the automotive sector. In addition, the regional infrastructure for automotive is showing substantial market growth due to which the market is expecting even higher growth. The APAC market has the potential to register the highest CAGR during the review period as several countries, including China, are expected to make great impact on the global market by having the necessary setup for electric vehicles. These initiatives by governments can influence the intake of electric vehicles market. Along with China, now India is all set to revamp their infrastructure to back up the regional market.
North America is expected to make substantial contribution in the sector with the US and Canada shoeing the way to make sure that the regional market gains high traction. Technological prowess is expected to make the market grow substantially in the coming years.
Lithium Market Competitive Landscape:
Several companies are impacting the market for lithium by initiating diverse market plans. These companies are SQM S.A. (Chile), Albemarle Corporation (US), Altura Mining (Australia), Livent (US), Jiangxi Ganfeng Lithium Co. Ltd (China), Orocobre Limited Pty Ltd (Australia), Lithium Americas Corp. (Canada), Critical Elements Corporation (Canada), Tianqi Lithium Industries Inc. (China), and Sayona Mining Limited (Australia). Market research Future (MRFR) covered all these companies for a better analysis of the report where their latest actions are recorded. The attempt is to assess the latest moves on the basis of their merits and how they can impact the global market in the coming years.
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One of the prime factors aiding the Middle East and Africa chiller market advance is the growing construction sector. Chillers are increasingly being deployed for cooling purposes in transportation networks like metro stations and railways, offices and buildings, and supermarkets. For instance, the construction industry in the MEA grew by 7.5% year-over-year (Y-o-Y) in 2019, and it is projected to witness an average growth of 6.8% till 2022.
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Freon Market 2020 | TOP COMPANIES: Daikin Industries, Ltd., Asahi Glass Corporation, The Chemours Company, and more
Global Freon Market Trends and Forecast to 2026
The Global Freon Market Report is an extensive and comprehensive document comprising details on business strategies, qualitative and quantitative analysis of the market on global and regional levels. The report offers a detailed analysis of the key segments of the Global Freon Market along with an in-depth analysis of drivers, restraints, challenges, trends, growth prospects, opportunities. The report strives to offer a deeper understanding of the Freon industry by offering an extensive overview of the competitive landscape and regional segmentation.
The report assesses the impact of various market factors on the growth of the Freon market in key regions and across key segments. The report considers the COVID-19 pandemic as a key influencing factor. It offers a detailed insight into the impact of COVID-19 on the industry at a regional level and industry level. The report also covers the developments and government regulations related to COVID-19. The report further analyzes the current and future impact of COVID-19 on the global market and provides an insight into the situation post-COVID-19. Furthermore, the report provides a comprehensive analysis of the impact of the COVID-19 crisis on the market.
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The report provides a panoramic overview of the Freon market’s competition landscape through a thorough profiling of the companies with regards to their market share, recent developments and advancements, gross margins, business expansion plans, product portfolio, production and manufacturing capacity, financial standing, and revenue contribution.
Top Players Covered in the Report Include:
Daikin Industries, Ltd., Asahi Glass Corporation, The Chemours Company, Sinochem Group, Honeywell International Inc., Gujarat Fluorochemicals Limited, Airgas Refrigerants Inc., Linde Group, Mexichem, SRF Limited.
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Furthermore, the report segments the market on the basis of types, applications, and key geographical regions.
Type of Refrigerants Outlook (Revenue, USD Billion; 2016-2026)
CFCs
HCFCs
HFCs
Hydrocarbons
Inorganic Refrigerants
Mixtures
Geographical Impact Outlook (Revenue, USD Billion; 2016-2026)
Eco-Friendly
Non Eco-Friendly
Applications Outlook (Revenue, USD Billion; 2016-2026)
Air Conditioners
Refrigerators
Chillers
Heat Pumps
Electronics Devices
Regional Segmentation:
The Global Freon Market is analyzed across the key geographical regions where the market has already established its presence. These regions include key areas such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Further, each region is extensively analyzed on the country level for the production and consumption ratio, import/export, supply and demand dynamics, trends, developments, revenue contribution, market share in terms of volume and value, and the presence of the prominent players in each region.
The extensive analysis of the key geographical regions include:
· North America (U.S., Canada)
· Europe (U.K., Italy, Germany, France, Rest of EU)
· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Key Points Covered by the Report:
· The report offers a comprehensive overview of the global Freon Market along with the idea about the content of the research study
· The report offers strategic recommendations to both established and novice players to aid in fortifying their presence
· The report presents insightful data to the companies to help them gain maximum returns on their investment and formulate new investment strategies
· It provides a comprehensive overview of the competitive landscape to offer a competitive edge to the readers
· The report covers an extensive regional analysis to impart a better understanding of the spread of the market in key geographies of the world
· In-depth analysis of the current and emerging market trends and drivers and restraints
· An 8-year comprehensive forecast for the Freon market on the global and regional scale
· Thorough SWOT analysis and Porter’s Five Forces analysis
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Refrigerant Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2021 - 2027
Refrigerant Market Country Level Analysis
Refrigerant market is analysed and market size, volume information is provided by country type and application as referenced above.
The countries covered in the refrigerant market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the refrigerant market due to the rising disposable income of the growing population along with rapid industrialisation and urbanization. North America region is expected to hold the largest growth rate due to the rising number of technological advancement along with rising concern over food wastage.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Global Refrigerant Market Scope and Market Size
Refrigerant market is segmented on the basis of type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
On the basis of type, refrigerant market is segmented into mineral oils, paraffinic oils, synthetics, chemical aromatics, chlorofluoro carbon (CFC), hydrofluoro carbon (HFC), HCFC, hydrofluoroolefin (HFO), carbon dioxide, ammonia, propane, mixed refrigerants /blend, and others. Synthetics have been further segmented into PAO, PAG, silicones and glycol based fluids. Chlorofluoro carbon (CFC) has been further segmented into R11, R12, R113, R114, R115, R13, R14, R500, R502, R503, others. Hydrofluoro carbon (HFC) has been further segmented into R23, R116, R134A, R32, R125, R143a, R407C & R407F, others. HCFC has been further segmented into R22, R123, R124, R133, R401 (A,B), R402 (A,B), R408A, R409A & others.
Refrigerant market is segmented in terms of market value, volume, market opportunities, and niches into multiple applications. The application segment for refrigerant market includes refrigeration systems, chillers, air-conditioning systems, and Mac (mobile air conditioning system). Refrigeration systems have been further segmented into domestic refrigeration, commercial refrigeration, and industrial refrigeration. Air-conditioning systems have been further segmented into window Ac, split Ac, VRF (variable refrigerant flow), and others.
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Market Analysis and Insights: Global Refrigerant Market
Global Refrigerant market will expected to grow at a rate of 4.90% for the forecast period of 2020 to 2027. Refrigerant market report analyses the growth, which is currently being growing due to the rising demand of the consumer appliances.
The growing demand of the cooling equipment in developing economies, growth of the cold chain market, rising number of applications from automotive industry, increasing preferences towards the consumption of frozen food and dairy products which will likely to enhance the growth of the refrigerant market in the forecast period of 2020-2027. On the other hand, rising demand of the natural refrigerant along with technological changes such as low GWP refrigerant and rising disposable income of the people which will further bring ample opportunities for the growth of the refrigerant market in the above mentioned forecast period.
Growing number of stringent regulations regarding fluorocarbon refrigerant along with toxicity and flammable issues are acting as market restraints for the growth of the refrigerant in the above mentioned forecast period.
This refrigerant market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on refrigerant market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
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Global Refrigerant Market By Type (Mineral Oils, Paraffinic Oils, Synthetics, Chemical Aromatics, Chlorofluoro Carbon (CFC), Hydrofluoro Carbon (HFC), HCFC, Hydrofluoroolefin (HFO), Carbon Dioxide, Ammonia, Propane, Mixed Refrigerants /Blend, Others), Application (Refrigeration Systems, Chillers, Air-Conditioning Systems, Mac (Mobile Air Conditioning System)), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2027
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Absorption Chillers Market Analysis by Expert: Cost Structures, Growth rate, Market Statistics and Forecasts to 2027
Absorption chillers are machines that are specifically used to cool large commercial spaces. The absorption chiller machine (VAM) produces chilled water using a heat source, rather than using electrical input, as compared to the vapor compression cycle. Absorption chillers have presently gained widespread acceptance due to their capability to combine with cogeneration systems and operate with industrial waste heat streams. Absorption chillers have the ability to utilize waste heat streams, which are wasted otherwise.
The market for absorption chillers is expanding due to increasing number of commercial spaces and the rising demand for cooling the same. Various types of absorption chillers are available that use dynamic compression to convert kinetic energy to static energy. The fact that the main source for absorption chillers is not electricity, gives them an advantage as compared to other competing products. Furthermore, these machines have a long lifespan, which may range up to 20 years.
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Moreover, features such as reduced noise and vibration, due to the absence of compressor, and electric motor, ultimately result in quiet operation and high reliability. Utilization of a gas generator of direct action in refrigeration and heating units eliminates the boilers that are used in conventional installations. This, in turn, reduces the initial cost of the system and makes absorption chillers competitive, as compared to conventional systems that utilize boilers and chillers. Moreover, absorption chillers enable the use of the emergency generators, as energy consumption in absorption chillers is less as compared to electric refrigeration units.
The global absorption chillers market can be segmented based on type of refrigerant, type, energy source, application, and region. Based on type of refrigerant, the absorption chillers market can be segmented into ammonia and lithium bromide. In terms of type, the absorption chillers market can be divided into single-effect chiller, double-effect chiller, and direct-fired chiller. Based on energy source, the absorption chillers market can be divided into gas fired, steam fired, direct fired, and hot water. Based on application, the absorption chillers market can be classified into food storage, air conditioning, and others. On the basis of application, the absorption chillers market can be bifurcated into commercial and industrial.
In terms of region, the global absorption chillers market can be segmented into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA). The North America market comprises the U.S., Canada, and Rest of North America. Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa comprises GCC, South Africa, and Rest of Middle East & Africa. South America consists of Brazil, Mexico, and Rest of South America. In terms of demand, Asia Pacific held a major share of the global market in 2017. The region is expected to maintain its dominance of the global absorption chillers market during the forecast period. However, the market in Asia Pacific is projected to expand at a notable growth rate, in term of volume, in the near future, due to expansion of industrial and commercial sectors in the region.
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Major companies operating in the global absorption chillers market are Thermax Ltd, Carrier Corporation, Century Corporation, Kirloskar Pneumatic Co., EAW Energieanlagenbau GmbH, Yazaki Energy Systems Inc., Hitachi Appliances Inc., and MultiChill Technologies Inc. Absorption chillers is a fragmented market due to the presence of various local and international service providers globally. Leading players try to maintain their brand value providing advanced wide spread distribution services. Furthermore, lower fuel costs and higher electricity cost prompt manufacturers to explore new technologies.
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MEA Modular Chillers Market Opportunities & Forecast, 2020-2027
The market report is a historical overview and in-depth study on the current and future market. The report also offers a basic overview of the market size, share, leading players, top regions with major countries data, and a detailed segmentation description. It investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
The major players in the MEA Modular Chillers Market include:
· Multistack LLC.
· Frigel Firenze S.p.A.
· Midea
· Johnson Controls.
· Carrier
· Gree Electric Appliances Inc.
· Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A.
· Ingersoll-Rand Inc.
· Armec
· LG Electronics
Key Drivers of the MEA Modular Chillers Market:
The primary factor boosting the growth of the MEA modular chillers market include the rising adoption for HVAC systems in the developing countries such as Saudi Arabia and U.A.E. There has been an increase in the number of commercial construction projects and smart cities projects, especially in the developing economies of the region such as U.A.E and Saudi Arabia. The growing adoption of modular chillers in several upcoming mega projects such as King Salman Park, NEOM, Saudi Vision 2030, Qatar FIFA World Cup 2022, Dubai World Expo 2020, and Konza Technology City is one of the factors propelling the growth of the MEA modular chillers market size in the region.
Additionally, favorable government initiatives pertaining to FDI in the construction sector and raised spending by the government on infrastructure projects are some other important drivers that are surging the growth of the market. According to the MEA modular chillers market report, the demand for energy-efficient modular chillers among the end-users is rising at a substantial rate due to strict regulations related to carbon emissions. For example, The U.A.E. Ministry for Commerce and Industry issued Federal Law No. 21 Energy Efficiency Standards Labelling (EESL), which aims to reduce energy consumption. The decreased energy efficiency COP (Energy Efficiency Ratio) for air-cooled package chiller is 8.50 to 9.50, and water-cooled chiller is 13.50 to 17.00.
The MEA modular chillers market will witness negative influence by the slowdown in the commercial, industrial, and residential construction sector owing to the COVID-19 pandemic in 2020. This factor will impact the sales of the modular chiller in the MEA region. The major reason behind the significant fall in the supplies of various components of modular chillers from China hinders the production of modular chillers worldwide. The distributors are worried that the customers may not buy these products in the upcoming years due to the fear of contracting the virus using modular chillers in their offices, homes, and factories. Moreover, the market is projected to fall significantly in 2020 but will bounce back at a significantly higher rate by 2021. Thereafter, the market will register strong growth until 2027.
Segmentation of the MEA Modular Chillers Market:
The major regions covered in the report are North America, Europe, Asia-Pacific, and the Rest of the world. It also contains regional volume and revenue of the forecast period. Moreover, it helps the reader to understand accurate data on volume sales according to the consumption for the same years.
On the basis of type, this report displays the production, revenue, price, market share, and overall growth rate of each type, primarily split into:
· Water-Cooled
· Air-Cooled
On the basis of application, this report displays the production, revenue, price, market share, and overall growth rate of each application, primarily split into:
· Commercial
· Residential
· Industrial
On the basis of countries, this report displays the production, revenue, price, market share, and overall growth rate of each countries, primarily split into:
· UAE
· Saudi Arabia
· Oman
· Kuwait
· South Africa
· Nigeria
· Algeria
· Kenya
· Rest of MEA
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