New York City, NY -- (SBWIRE) -- 09/10/2020 -- The global chiller market is expected to attain a revenue of $10,880.3 million by 2030, growing from $7,330.7 million in 2019, and is projected to advance at a 5.0% CAGR during the forecast period (2020–2030), according to a report by P&S Intelligence. The increasing global temperature, owing to the surging emission of greenhouse gases from residential, industrial, and transportation sectors, is leading to the rising need for chillers. Moreover, the expanding construction industry and rapid industrialization are also driving the market.

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COVID-19 has impacted the market severely, as several aspects, including production and transportation of raw materials, have been disrupted. Along with the newly imposed restrictions on international trade and shutting down of manufacturing plants, people have also become hesitant to purchase non-essential goods, which has caused problem for the chiller industry. Furthermore, upcoming and ongoing real estate projects, in both commercial and residential sectors, have been witnessing slow growth due to the lack of labor.

The objective of this research includes;

Historical and the present size of the chiller market
Future potential of the market through its forecast for the period 2020– 2030
Historical and the present size of the market segments and understand their comparative future potential
Potential of on-demand logistics services, so the market players make informed decisions on the sales of their offerings
Competitive scenario of various market segments across key countries in several regions for uncovering market opportunities for the stakeholders
Major players operating in the market and their service offerings
Recent strategic developments by the major players in the market

Browse report overview with detailed TOC on "Chiller Market Research Report: By Type (Screw, Scroll, Centrifugal, Absorption, Reciprocating), Capacity (Water-Cooled, Air-Cooled), End-User (Commercial, Industrial, Residential) - Global Industry Analysis and Growth Forecast to 2030" at: https://www.psmarketresearch.com/market-analysis/chiller-market

Geographically, the chiller market was dominated by the Asia-Pacific (APAC) region and will continue to contribute the largest revenue to the market till 2030. Within the region, China is the major consumer of chillers because of the swiftly growing construction industry and increasing number of office complexes and airports. Similarly, the growth of the IT industry in India, owing to increasing focus of the government towards digitization, is also leading to the growth of the regional market.

The key players operating in the chiller market include Carrier Global Corporation, Trane Technologies Plc, Mitsubishi Electric Corporation, Johnson Controls International Plc, Daikin Industries Ltd., Gree Electric Appliances Inc. of Zhuhai, Thermax Limited, Danfoss A/S, Midea Group Co. Ltd., and LG Electronics Inc.

Based on Type

* Screw
- Water-cooled
- Air-cooled

* Scroll
- Water-cooled
- Air-cooled

* Centrifugal
- Water-cooled
- Air-cooled

* Absorption
- Direct-fired
- Hot-water
- Steam

* Reciprocating
- Water-cooled
- Air-cooled

Based on Capacity

* Water-cooled
- Less than 500 T
- 500 T–1,000 T
- 1,001 T–2,000 T
- Above 2,000 T

* Air-cooled
- Less than 150 T
- 150 T–300 T
- 301 T–500 T
- Above 500 T

Based on End-User

* Commercial
- Hospitality
- Transportation
- Offices and buildings
- Healthcare
- Supermarkets/Hypermarkets
- Government

* Industrial
- Oil and gas
- Food and beverage
- Energy and utilities
- Pharmaceutical
- Automotive

* Residential

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