Global Asia-Pacific
chiller market is anticipated to reach $4.9 billion by 2024
posting a CAGR of 5.4%, during forecast period. The market has been registering
substantial growth rate, majorly due to overall growth in the construction
industry, increasing infrastructure spending, and surging growth in food and
beverage industry.
Based on chiller type, the
market is segmented into centrifugal, screw, scroll, absorption, and
reciprocating; wherein absorption category is further segmented into steam, hot
water and direct fired. Of these categories steam chillers are increasingly
being utilized in the manufacturing industries which produces waste heat. Waste
heat is utilized to run the noise and vibration free steam chillers.
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On the basis of end-user
type, the market is segmented into commercial, industrial and residential;
wherein commercial end-user is further split into commercial offices/buildings,
hospitality, supermarkets/hypermarkets, government, transportation, and
healthcare.
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.
Asia-Pacific chiller market
is highly competitive due to the presence of large number of global and
regional players. The market is led by companies such as Daikin Industries
Ltd., Johnson Controls International PLC, United Technologies Corporation,
Midea Group Co. Ltd., and Ingersoll-Rand plc. In APAC region, companies like
Daikin Industries Ltd., major sales is estimated to have come from India,
Japan, China, Australia, and Thailand.
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Some of the major players in the Asia-Pacific
chiller market includes Johnson
Controls International PLC, Ingersoll-Rand plc, United Technologies
Corporation, Daikin Industries Ltd., Mitsubishi Electric Corporation, Smardt
Chiller Group Inc., Multistack LLC, Thermax Limited, Thermal Care Inc., and
Midea Group Co. Ltd.
Asia-Pacific
Chiller Market Segmentation
Market
Segmentation by Chiller Type
·
Screw
o Water-Cooled
o Air-Cooled
·
Scroll
o Water-Cooled
o Air-Cooled
·
Absorption
o Steam
o Hot Water
o Direct-Fired
·
Centrifugal
·
Reciprocating
o Water-Cooled
o Air-Cooled
Market
Segmentation by End-User
·
Commercial
o Transportation
o Hospitality
o Healthcare
o Supermarket/Hypermarket
o Offices
and buildings
o Government
o Others
·
Industrial
o Chemical
o Food and
Beverage
o Pharmaceutical
o Automotive
o Energy
and Utilities
o Oil and
Gas
o Others
·
Residential
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