Screw Chillers Market: Introduction
- A chiller machine eliminates heat from a liquid through vapor compression or absorption refrigeration cycles. Chiller machines use different types of compressors such as semi hermetic screw, centrifugal compressors, and hermetic scroll. Screw chillers are used as cooling solutions for industrial processes as well as for air conditioning systems. Chillers with screw compressor are those refrigeration devices which are used to cool raw materials, fluid streams, and food & beverages.
Key Drivers of the Global Screw Chillers Market
- Increasing demand for process cooling in industrial applications is one of the factors that leads to increasing adoption of screw chillers due to their quiet operation, compact size, minimal maintenance cost, and high energy efficiency. They are also ideal for high-rise buildings. Additionally, increasing adoption of screw chillers in commercial refrigeration, expanding usage of outward data sources, and rapid adoption of advanced analytics and visualization are factors which contribute to the growth of the chillers market globally and subsequently the demand for screw chillers is also rising.
Factor Restraining the Global Screw Chillers Market
- High initial cost of system installation is a factor that may restrict the growth of the screw chillers market.
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Market in Asia Pacific to Expand Rapidly
- In terms of geography, the global screw chillers market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the screw chillers market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the screw chillers market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America screw chillers market is segmented into Brazil, and Rest of South America.
- North America accounted for largest share of the global screw chillers market due to increasing new product developments and related activities in the region. Growing industries such as chemicals and petrochemicals, and medical stores with rising demand for chillers is contributing to the growth of the screw chillers market in the region.
- The screw chillers market in Asia Pacific is projected to expand rapidly during the forecast period due to the presence of major end-use industries in emerging economies such as India, China, Japan, South Africa, South Korea, and Brazil. Electronic appliances, chemical plants, automobile industry, printing plants, transportation, and beverage industry are some of the major industries growing rapidly in the Asia Pacific region and expected to drive the screw chillers market in the region.
Key Players Operating in the Global Market
Companies in the screw chillers market are focusing on becoming more proficient and developing innovative product features which will enhance their competitive advantage and their market share globally. Manufacturers are adopting advanced technologies and aiming toward providing efficient chillers at lower cost that helps to propel the global sale of screw chillers.
A few of the key players operating in the global screw chillers market are:
- Johnson Controls
- McQuay Air-conditioning Ltd.
- LG Electronics
- Dunham Bush
- Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A.
- Haier Group
- EUROKLIMAT S.P.A.
- Robert Bosch GmbH
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Global Screw Chillers Market: Research Scope
Global Screw Chillers Market, by Product Type
- Air Cooled Screw Chiller
- Water Cooled Screw Chiller
Global Screw Chillers Market, by Compressor Type
- Single Screw
- Twin Screw
Global Screw Chillers Market, by Capacity
- Below 100 tons
- 100 – 300 tons
- 300 – 600 tons
- 600 – 900 tons
- Above 900 tons
Global Screw Chillers Market, by End-use
- Automotive & Transportation
- Office Buildings
- Printing Plants
- Chemical Plants
- Food & Beverage Industry
- Others (Data Centers, Warehouses, etc.)
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
- 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?
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.