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Process chillers is a type of equipment used in the maintenance of industrial applications and equipment. Process chillers are required to maintain the efficiency and to ensure optimal performance of equipment and processes. They ensure that the process or equipment remains at a constant temperature throughout the day. A refrigerant such as halocarbon or ammonia is used in the chilling process. Process chillers are used in a wide variety of industries such as breweries, dairy industry & food processing industry, medical industry, refrigeration, and in other industrial applications. The demand for process chillers is contingent on the growth trajectory of these industries. Process chillers comprise different components depending on the design. These are compressors, condensers, evaporators, pumps, pipes, high pressure refrigerant relief valves & cooling towers, tanks, filters, and fans. Process chillers use either an air or water condenser in its cooling process. A partially cooled liquid refrigerant performs the cooling process. The placement of the process chiller varies based on the application and size of the process chiller; it can be placed next to the equipment requiring the cooling, in a separate room, or even as an external unit.

Growing industrialization is anticipated to drive the demand for process chillers, especially from non-traditional markets such as the growing economies in the Asia Pacific region. Progress in the manufacturing industry is expected to provide a direct benefit to manufacturers of process chillers due to their wide-spread applications. Rising demand for industrial cooling is also anticipated to drive the growth of the products in the process chillers market. Furthermore, companies are looking to expand their reach in terms of newer markets; this is likely to drive the growth of the global process chillers market. Other drivers of the market include new product development, mergers & acquisitions, and partnerships among players in the process chillers market.

Stiff competition and rising concerns regarding the efficacy of the machines are expected to restrain the global process chillers market during the forecast period. Increasing competition in the process chillers space as a result of a large number of manufacturers is expected to restrain the business of process chillers manufacturers in the short to medium period; this feature makes the global process chillers market fragmented in nature.

Rising industrialization and brand awareness present an opportunity to manufacturers operating in the global process chillers market. With rising industrialization, manufacturers are expected to spend larger amounts on consumption of cooling equipment and at the same time spend more time researching the model most suitable for their needs. This presents a growth opportunity in the new product space. Moreover, as industrialization leads to diversifying manufacturing needs, the potential market for process chillers is expected to witness a rise.

The global process chillers market can be segmented on the basis of compressor, end-user, distribution channel, and region. Based on compressor, the process chillers market is segmented as air-cooled and water-cooled. In terms of end-user, the process chillers market can be segmented into brewery, dairy industry, food processing industry, medical industry, refrigeration, and industrial applications. Online and offline are the segmentations of the process chillers market based on distribution channel. The offline segment can further be classified into direct store sales or official company distributors. Based on region, the global process chillers market can be segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Motivair Corporation, Drake Refrigeration Inc, Thermal Care Inc, Airedale Air Conditioning, ICS Cool Energy Limited, Filtrine Manufacturing Company, Parker Hannifin Corp, Legacy Chiller Systems Inc, Cooling Technology, Inc, and General Air Products, Inc. are some of the key manufacturers in the global process chillers market. The main strategy adopted by these companies and their peers is new and innovative product launches and targeted marketing activities to capture new markets and consolidate their position in the existing markets.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

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Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Process Chillers Market

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