Chillers Market Top Industry Expansion Strategies to Reach $12.7 Billion by 2028 | Carrier Global Corporation, Mitsubishi Electric Corporation, Daikin

An increase in demand for process cooling in the industrial application, to control room atmosphere is anticipated to proliferate the growth of the global chillers market. In addition, rise in construction spending in countries such as India, Germany, Japan, the U.S., and others drives the growth of the market. For instance, expenditure on private construction activities by the U.S. government increased by over 50% and that on public construction surged by over 20% from 2012 to 2020. Further, the government spending on installing heating, ventilation, and air conditioning (HVAC) systems is expected to boost the global chillers market growth.

According to AMR, The global chillers market size was $10.05 billion in 2019 and is expected to reach $12.67 billion by 2028, registering a CAGR of 3.7% from 2021 to 2028.

The report also highlights the qualitative aspects in the study. Additionally, the unit takes in the key findings, in terms of market overview and investment prospects. The market report also involves the competitive landscape containing the profiles of top ten major players in the industry. The frontrunners have been thoroughly assessed based on their revenue size, service/product portfolio, regional presence, key plans & policies, and overall contribution to the growth of the market.

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Major Key Players of the Chillers Market are:
The major players, such as Carrier Global Corporation, Mitsubishi Electric Corporation, Daikin Industries Ltd, Dimplex Thermal Solutions, LG Electronics, Johnson Controls International Plc, Gree Electric Appliances Inc of Zhuhai, Midea Group Co. Ltd, Thermax Ltd, and Trane Technologies Plc have focused on developing new products to strengthen their presence in the market.

Over the years, we have been administering market intelligence studies across an array of industries for organizations of different types such as profit & not-for-profit organizations, big-scale & large-scale organizations, and many more. We look at numerous aspects of internal & external business environment disturbing the growth stratagems of business ventures.

The global Chillers report offers quantitative and qualitative analysis of the market from 2021 to 2028. The qualitative study emphasizes on the value chain analysis, pain point analysis, and key regulations.
• Value chain analysis: AMR offers a complete analysis of all the stages along with the key stakeholders functioning in every stage with their strategic decisions on board.
• Key regulations: Allied Market Research provides key regulations and standards for the Chillers Market. The section also presents some of the regulatory documents of the product type.
• Pain point analysis: The report also offers insights on the key challenges faced by the stakeholders in the industry. The strategic decisions adopted by the market players to maintain their foothold in the market are also discussed through the report.

COVID-19 Impact Analysis on the global Chillers:

The outbreak of the pandemic has had a huge impact across the globe, which impeded the socio-economic development. Therefore, the Chillers Market report doles out a micro- and macro-economic assessment of the industry throughout the pandemic. The study further provides a qualitative breakdown of the impact of Covid-19 on the market.

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Key Market Segments -
The chillers market is segmented into type, product type, power range, end user, and region.

By type, it is divided into screw chiller, scroll chiller, centrifugal chiller, and others. Screw chiller segment having the highest revenue in 2019.
By product type, it is bifurcated into air-cooled chiller, and water-cooled chiller.

By power range, it is classified into less than 20 kW, 50-200 kW, and more than 200 kW. More than 200 kW segment generated the highest revenue in 2019.

By end user, it is fragmented into chemicals & petrochemicals, food & beverages, medical, and others. The others segment contributed the highest revenue in 2019.By region, it is studied across North America, Europe, Asia-Pacific, and LAMEA.

The report provides a study of the past and current market trends and evaluates the future opportunities. The Chillers market study focuses on the market trends and upcoming opportunities that help understand the driving factors of the market. In addition, the report offers granular, robust, and qualitative data.

The report includes a brief summary of the market along with a SWOT analysis of the major market players and their financial analysis. The report covers a business overview and portfolio analysis of services that major companies offer. The study analyzes the recent market developments such as expansion, joint ventures, and product launches. Moreover, the study aids new business entrants and stakeholders to understand the long-term profitability of the market.

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