The global industrial air chiller market size was US$ 4.7 billion in 2021. The global industrial air chiller market size is forecast to reach US$ 7.3 billion by 2030, growing at a compound annual growth rate (CAGR) of 4.3% during the forecast period from 2022 to 2030.
In industrial and commercial establishments, industrial air chillers, often known as refrigeration systems, are used to cool a process fluid or dehumidify the air. A vapor-compression or absorption cycle is used to cool an industrial air chiller. Industrial air chillers take heat from industrial process water or processing liquids like oil or glycol, as well as coolant water, and transfer it to the ambient air around the chiller unit via air blowers. An air condenser, compressor, air blower, dry filter, refrigerant, water tank, water pump, and expansion valve are components of an industrial air chiller.
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Factors Influencing Market Growth
The increasing demand for energy-efficient cooling systems, such as industrial air chillers drives the global market.
Growing government restrictions pertaining to fluorinated greenhouse gases may slow down the overall market growth.
Rising advancements in technology and improvement in the efficiency of industrial air chillers are forecast to offer lucrative opportunities for the global market during the forecast period.
Impact Analysis of COVID-19
The COVID-19 pandemic had a negative impact on the global market. In order to stop the spread of the deadly virus, several governments worldwide imposed a lockdown. Due to the lockdown, numerous components of industrial air chillers had to suspend in manufacture. Industrial and commercial users first cut their expenditure on various industrial air chillers due to the economic slump. Furthermore, a scarcity of people and raw materials has hampered the availability of raw materials for industrial air chillers, limiting the market’s expansion.
Regional Analysis
North America held dominance in the industrial air chiller market and is forecast to remain dominant during the forecast period. As a result of the existence of well-established and technologically advanced manufacturers and the rising adoption of automatic industrial air chillers in the region. In addition, growing demand for these air chillers in the country and increasing investments across industries such as chemical & petrochemical, plastic, and food & beverage.
The Asia Pacific region is forecast to have lucrative growth in the industrial air chiller market during the forecast period. As a result of the growing government initiatives to enhance hygiene standards in the work environment. In addition, rising infrastructure spending in the region. For example, the Indian government is planning to construct around 100 new airports.
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Leading Competitors
The leading prominent companies profiled in the global industrial air chillers market are:
Airedale International Air Conditioning Limited
Blue Star Limited
Carrier Global Corporation
Daikin industries, Limited
GEM Orion Machinery Private Limited
Hiver Aircon Pvt. Limited
Jiangsu Huazhao Refrigeration Equipment CO., Limited
Johnson Controls International PLC
Mitsubishi Electric Corporation
Trane Technologies Company, LLC.
Other Prominent Players
Scope of the Report
The global industrial air chillers market segmentation focuses on End-User, Type, Function, and Region.
Segmentation based on End-User
Food and Beverage
Pharmaceutical
Utility and Power
Oil and Gas
Others
Segmentation based on Type
Centrifugal Chillers
Reciprocating Chillers
Scroll Compressor Chillers
Screw Driven Chillers
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Segmentation based on Function
Stationary
Transport
Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
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