Centrifugal Chiller Market: Introduction

  • The centrifugal chiller uses a vapor pressure cycle to cool the water. It removes heat collected in cold water and heat from the compressor to the water loop. The water loop is cooled by a cooling tower. They are easy to maintain and last longer. Centrifugal chillers provide high cooling power with minimal space. The centrifugal chiller system includes various components such as evaporator, compressor, condenser, and expansion device. Some centrifugal chillers use dual compressor; using two compressors in a standard refrigerator cycle significantly improves the load section of the centrifugal chiller system.

Key Drivers of the Centrifugal Chiller Market

  • Centrifugal chillers are the most common cold type available in the market. Demand for these chillers is very high. The centrifugal chiller frame provides a high cooling limit with a small structure. The chillers work by using rotating impellers to pack the refrigerator and power it in the cold. Therefore, the energy requirements for these chillers is very low and highly efficient compared to other chillers. This makes the product extensively demanded in the market. 
  • Demand for cold water for cooling systems is expected to grow in the near future owing to the growing number of energy plants, which are one of the main buyers of centrifugal cooling systems. The growth of medical centers and schools in major cities is expected to further the need for centrifugal cooling systems. Major manufacturers in the centrifugal chiller market are focused on product development based on the growing demand of customers. For example, manufacturers are building oil-free centrifugal cooling systems as customers prefer better products with lower operating costs. Based on component, the dual compressor centrifugal chiller system is widely used in various end-use industries such as food processing and commercial buildings, as they are highly efficient and have low operating costs compared to the single compressor centrifugal chiller system.
  • In developing countries, governments are investing heavily in infrastructure development in the industrial sector, which is expected to propel the demand for centrifugal chiller systems. However, the presence of replacement products such as absorption chiller, air-cooled screw chiller, and modular chiller is expected to reduce the demand for centrifugal chiller systems. 

Key Opportunities of the Centrifugal Chiller Market

  • Manufacturers are trying to build new highly efficient products to meet consumer demand in the market. For example, in May 2021, Dunham-Bush added an upgraded version of the Vision 2020i controller to the DCLC-D centrifugal chiller series. With advanced features such as intelligent flexible fluid control line, IGV and VFD surgical control line, flexible pressure control, and various other intelligent features, this new state-of-the-art controller is designed to use DCLC-D for high efficiency and reliability. Advanced products are thus expected to help in growth of the global centrifugal chiller market.

Key Restraints of the Centrifugal Chiller Market

  • Centrifugal chillers are more expensive than conventional cooling systems. Ideally, to determine the operating costs of an industrial chiller system, consumers should consider initial setup costs, operating costs, and energy savings. Also, operating costs are not considered by operators when installing cooling systems, which leads them to purchase cheaper HVAC systems. This is a major reason why small industries opt for cost-effective and low-cost set-up solutions, which hampers the demand for centrifugal chillers and hinders the market growth.

APAC to Hold Major Share of the Centrifugal Chiller Market

  • In terms of region, the global centrifugal chiller market is classified into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA).
  • Asia Pacific is expected to hold largest share in the centrifugal chiller market and highest growth rate in the coming years. This is due to continued increase in investment by companies in the region to enhance production capacity. In addition, Asia Pacific has the largest market for various industries using centrifugal chillers, thus stimulating market growth. The region is also a large base for many key players, leading to improved market share. This is due to growing manufacturing activities in countries such as China, India, Japan, Korea, Vietnam, and Thailand. Similarly, Middle East & Africa, and South America have seen moderate growth in the market for centrifugal chillers.

Key Players Operating in the Centrifugal Chiller Market Include:

  • Daikin Industries, Ltd.
  • Motivair Corporation
  • Trane Technologies plc
  • Carrier Corporation
  • Thermal Care Inc.
  • LG Electronics
  • Johnson Controls (York)
  • Artic Cool Ltd.
  • Mitsubishi Heavy Industries, Ltd

Global Centrifugal Chiller Market: Research Scope

Global Centrifugal Chiller Market: by Type

  • Magnetic Bearing Centrifugal Chiller
  • Conventional Centrifugal Chiller
  • Oil-free Centrifugal Chiller

Global Centrifugal Chiller Market: by Component

  • Single Compressor
  • Dual Compressor

Global Centrifugal Chiller Market, by End-users

  • Chemicals & Gases
  • Food & Beverages
  • Pharmaceuticals
  • Automotive
  • Power Generation
  • HVAC

Global Centrifugal Chiller Market, by Distribution Channel

  • Direct
  • Indirect

Global Centrifugal Chiller Market, by Region

  • North America
    • U.S.
    • Canada
    • Rest of North America
  • Europe
    • Germany
    • France
    • U.K.
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia Pacific
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
  • South America
    • Brazil
    • Rest of South America

This upcoming business intelligence report is intended to be a one-stop market research solution to guide organizations in taking timely and effective decisions for their business growth. The ongoing study is the culmination of our deep expertise on data science methods, combined with an unparalleled understanding of the external environment and analysis of the industries. Each of the reports by TMR aims at offering a detailed scrutiny of the value chain of our current and prospective customers, takes them from identifying value propositions, and subsequently assist their business executives to implement right strategies to create customer value. We believe that creating and sustaining the customer value is the key pivot on which business executives can create profits for their organizations and increase the market shares, continuously and with sustainability.

Each of our touchpoints through which we engage with the organization/enterprise during the primary research enables us to understand the internal environment it operates in and the ways in which the external environment influences its growth.

Always Evolving with Competition

Excellence is built into the DNA of TMR, and all our teams work collaboratively and committedly toward achieving that in whatever they do. From the very first interaction our teams of research analysts have with any interested market participant to the final preparation processes in each of our reports reflects a rigorous understanding of the dynamic industry environment that businesses operate in.

We relentlessly work to be a differentiator in whatever we do in the current era of hypercompetitive global environment. The result of our unceasing focus on excellence is reflected clearly in the insights and guidance we offer to our customers in order to empower them to create brand equity. Our simple yet very powerful underpinning for navigating the competition is to always keep evolving with changing business environments. Our close-kinit team of research analysts not only believe in this simple philosophy but also implement the same.

Constantly Innovating Our Research Methodologies and Models

We do not limit with any specific market research tool or one standard approach for obtaining or analyzing data. Undoubtedly, our report making process is ever-evolving to meet the customer needs and demands supported broadly by a vast knowledge of data science methods that we combine with business acumen our teams have built upon for several years. Evidently, our primary and secondary research data about customers and consumers have shown that we can go to any lengths to obtain them. This is followed by applying next-gen automation tools integrated with human judgement to clear the clutter, ascertain the most relevant and recent qualitative and quantitative insights, and package them in digestible chunks in our reports for our customers.

We Take Pride in No-One-Size-Fits-All Approach

Over the past several years, we have been conducting market intelligence studies across all industries for all types of organizations — big and small, profit and not-for-profit, and Fortune 500 and Unicorns, as we believe that a sound decision making must be based on no-one-size-fits-all approach. Without doubt, each of the organizations regardless of the industry they are in are affected differently by changes in political, economic, socio-culture, legal, ecological, and legal environments. The research models and the value chain analysis process that our analysts employ for conducting the study uphold this approach.

We look at myriad components of internal and external business environment affecting the growth strategies of organizations. Some of the broader aspects that we focus on are:

  • Our team of Analysts and Support Teams always strive to see the bigger picture in life cycle stages of any industry
  • The Teams focus on obtaining valuable insights into different models of competitive advantage while making an internal environment analysis
  • They keep on modifying the value chain analysis processes of organizations to understand on how customer value is created

Some areas of assessing market dynamics that are used in the research models and methodologies adopted by our analysts can be summarized as:

  • Corporate and business strategies underlying new brand positioning strategies
  • Mapping for strategic planning for business units
  • Various metrics for business portfolio analysis, including BCG matrix
  • Value chain analysis

These will help create and sustain competitive advantage for our prospects and current customers.

Key focus areas and agenda that underpin and catalyze our primary and secondary research initiatives and endeavors are:

  • What are some of the core competencies and distinctive competencies of new entrants and established players in the industry we are analyzing?
  • What are some of the branding opportunities that are emerging at a rapid pace?
  • What are the major competitive forces and elements of external environment shaping the industry life cycle stages of most organizations?
  • Why some competitive strategies are popular than others among leaders in a certain market?
  • What customer-based brand equity strategies companies have leveraged in a certain industry or set of related industries in a sector?
  • What are some of the key pricing strategies that companies in an industry are implementing for marketing their products internationally?
  • Identifying whether market-push or market-pull strategies are more relevant to a certain product or a service?

Disclaimer: This ongoing market research study is a meticulously planned activity where a broad array of factors and aspects that shape the marketing environment and industry are taken into account. However, keeping in mind the constantly changing nature of business dynamics and changing strategic intents, we are always actively making iterations and modifications in our approaches. As always, we are ready to tailor our insights and guidance to suit your requirements. Engage with us to know what more is there for your CXOs.

Enquiry Before Buying

TMR offers Enquiry Before Buying that help clients to get information on their business scenario required where syndicated solutions are not enough.

Enquiry Before Buying

Centrifugal Chiller Market