Market Overview:
The global centrifugal chiller system market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for centrifugal chillers from various end-use industries, such as food & beverages, pharmaceuticals, automotive, power generation and others. In addition, the growing awareness about energy efficiency and environmental concerns are also driving the growth of this market. Based on type, the global centrifugal chiller system market can be segmented into magnetic bearing centrifugal chillers and conventional centrifugal chillers. Magnetic bearing centrifugal chillers are witnessing a higher adoption rate due to their superior performance in terms of energy efficiency and noise levels as compared to conventional centrifugal chillers. Based on application, the global centripetal chiller system market can be segmented into food & beverages industry; pharmaceuticals industry; automotive industry; power generation industry; and others segments including HVAC systems etcetera).
Product Definition:
A centrifugal chiller system is a type of air conditioning system that uses a centrifugal compressor to circulate refrigerant. The centrifugal compressor is used to increase the pressure of the refrigerant, which allows it to be circulated through the condenser and evaporator coils. This type of system is often used in large commercial or industrial applications.
Magnetic Bearing Centrifugal Chiller:
Magnetic bearing centrifugal chillers are used to decrease the temperature of a fluid. They are widely used in the oil & gas industry for cooling down process fluids such as slush, water or wastewater. These chillers work on the principle of reducing friction between rotating parts by using magnets which attracts and repells particles at high speed thereby creating a vacuum around it and removing heat from the system.
Conventional Centrifugal Chiller:
Conventional centrifugal chillers are used to decrease the temperature of fluids such as water, oil, and gas. These chillers work on the principle of transferring heat from a hot fluid medium to a cold fluid medium by using centrifugal force. Centrifugal chiller system consists of two interrelated components namely impellers and case or housing which is used for containing the refrigerant. The most commonly used refrigerants in these systems are ammonia and Freon 12 (HFC).
Application Insights:
The food and beverage application segment led the market in 2017. This is attributed to the growing demand for processed meat products, such as salami-based products, ham and bacon, cold cuts, corned meats and others. These processed meat products require low-temperature processing to preserve their quality during storage or transit. Centrifugal chillers are used for this application due to their ability to process large amounts of liquid with minimal energy consumption.
The pharmaceuticals application segment is expected witness significant growth over the forecast period owing to an increase in R&D activities related to new drug development and biopharmaceutical production processes that require low-temperature processing of liquids containing proteins or DNA molecules.
Regional Analysis:
North America dominated the global market in 2017 owing to the presence of a large number of pharmaceutical and biotechnology companies, which require constant cooling. The region is expected to maintain its dominance over the forecast period as well owing to factors such as increasing R&D activities and rising healthcare spending by consumers.
The Asia Pacific centrifugal chiller system market is anticipated to grow at a lucrative rate over the forecast period due to rapid industrialization, coupled with growing awareness regarding energy-efficient Chillers. Moreover, government initiatives for infrastructure development are also likely boost demand for these chillers in emerging economies like China and India; thereby driving growth across this region.
Growth Factors:
- Increasing demand for energy-efficient cooling systems
- Growing popularity of centrifugal chillers in data centers and other large commercial applications
- Rising awareness about the benefits of centrifugal chillers over traditional air-cooled chillers
- Proliferation of microturbines and other small-scale power generation technologies that can be used to drive centrifugal chillers
- Advances in compressor technology that make centrifugal chillers more efficient and reliable
Scope Of The Report
Report Attributes
Report Details
Report Title
Centrifugal Chiller System Market Research Report
By Type
Magnetic Bearing Centrifugal Chiller, Conventional Centrifugal Chiller, Oil-Free Centrifugal Chiller
By Application
Food & Beverages, Pharmaceuticals, Automotive, Power Generation, Others
By Companies
MITSUBISHI HEAVY INDUSTRIES, LTD, Johnson Controls, Daikin Applied, ADVANCE INDUSTRIAL REFRIGERATION, LG Electronics, Trane, Blue Star Limited, Carrier Corporation, Dunham-Bush Americas, Midea
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
228
Number of Tables & Figures
160
Customization Available
Yes, the report can be customized as per your need.
Global Centrifugal Chiller System Market Report Segments:
The global Centrifugal Chiller System market is segmented on the basis of:
Types
Magnetic Bearing Centrifugal Chiller, Conventional Centrifugal Chiller, Oil-Free Centrifugal Chiller
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food & Beverages, Pharmaceuticals, Automotive, Power Generation, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- MITSUBISHI HEAVY INDUSTRIES, LTD
- Johnson Controls
- Daikin Applied
- ADVANCE INDUSTRIAL REFRIGERATION
- LG Electronics
- Trane
- Blue Star Limited
- Carrier Corporation
- Dunham-Bush Americas
- Midea
Highlights of The Centrifugal Chiller System Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Magnetic Bearing Centrifugal Chiller
- Conventional Centrifugal Chiller
- Oil-Free Centrifugal Chiller
- By Application:
- Food & Beverages
- Pharmaceuticals
- Automotive
- Power Generation
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Centrifugal Chiller System Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A centrifugal chiller system is a type of air-conditioning unit that uses the principle of centrifugal force to cool air. The system works by spinning a metal drum or cylinder filled with refrigerant around at high speed. The rapid rotation causes the heat in the air to be transferred away from the inside of the drum or cylinder, and then cooled down by the refrigerant.
Some of the major players in the centrifugal chiller system market are MITSUBISHI HEAVY INDUSTRIES, LTD, Johnson Controls, Daikin Applied, ADVANCE INDUSTRIAL REFRIGERATION, LG Electronics, Trane, Blue Star Limited, Carrier Corporation, Dunham-Bush Americas, Midea.
The centrifugal chiller system market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Centrifugal Chiller System Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Centrifugal Chiller System Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Centrifugal Chiller System Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Centrifugal Chiller System Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Centrifugal Chiller System Market Size & Forecast, 2018-2028
4.5.1 Centrifugal Chiller System Market Size and Y-o-Y Growth
4.5.2 Centrifugal Chiller System Market Absolute $ Opportunity
Chapter 5 Global Centrifugal Chiller System Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Centrifugal Chiller System Market Size Forecast by Type
5.2.1 Magnetic Bearing Centrifugal Chiller
5.2.2 Conventional Centrifugal Chiller
5.2.3 Oil-Free Centrifugal Chiller
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Centrifugal Chiller System Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Centrifugal Chiller System Market Size Forecast by Applications
6.2.1 Food & Beverages
6.2.2 Pharmaceuticals
6.2.3 Automotive
6.2.4 Power Generation
6.2.5 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Centrifugal Chiller System Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Centrifugal Chiller System Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Centrifugal Chiller System Analysis and Forecast
9.1 Introduction
9.2 North America Centrifugal Chiller System Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Centrifugal Chiller System Market Size Forecast by Type
9.6.1 Magnetic Bearing Centrifugal Chiller
9.6.2 Conventional Centrifugal Chiller
9.6.3 Oil-Free Centrifugal Chiller
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Centrifugal Chiller System Market Size Forecast by Applications
9.10.1 Food & Beverages
9.10.2 Pharmaceuticals
9.10.3 Automotive
9.10.4 Power Generation
9.10.5 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Centrifugal Chiller System Analysis and Forecast
10.1 Introduction
10.2 Europe Centrifugal Chiller System Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Centrifugal Chiller System Market Size Forecast by Type
10.6.1 Magnetic Bearing Centrifugal Chiller
10.6.2 Conventional Centrifugal Chiller
10.6.3 Oil-Free Centrifugal Chiller
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Centrifugal Chiller System Market Size Forecast by Applications
10.10.1 Food & Beverages
10.10.2 Pharmaceuticals
10.10.3 Automotive
10.10.4 Power Generation
10.10.5 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Centrifugal Chiller System Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Centrifugal Chiller System Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Centrifugal Chiller System Market Size Forecast by Type
11.6.1 Magnetic Bearing Centrifugal Chiller
11.6.2 Conventional Centrifugal Chiller
11.6.3 Oil-Free Centrifugal Chiller
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Centrifugal Chiller System Market Size Forecast by Applications
11.10.1 Food & Beverages
11.10.2 Pharmaceuticals
11.10.3 Automotive
11.10.4 Power Generation
11.10.5 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Centrifugal Chiller System Analysis and Forecast
12.1 Introduction
12.2 Latin America Centrifugal Chiller System Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Centrifugal Chiller System Market Size Forecast by Type
12.6.1 Magnetic Bearing Centrifugal Chiller
12.6.2 Conventional Centrifugal Chiller
12.6.3 Oil-Free Centrifugal Chiller
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Centrifugal Chiller System Market Size Forecast by Applications
12.10.1 Food & Beverages
12.10.2 Pharmaceuticals
12.10.3 Automotive
12.10.4 Power Generation
12.10.5 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Centrifugal Chiller System Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Centrifugal Chiller System Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Centrifugal Chiller System Market Size Forecast by Type
13.6.1 Magnetic Bearing Centrifugal Chiller
13.6.2 Conventional Centrifugal Chiller
13.6.3 Oil-Free Centrifugal Chiller
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Centrifugal Chiller System Market Size Forecast by Applications
13.10.1 Food & Beverages
13.10.2 Pharmaceuticals
13.10.3 Automotive
13.10.4 Power Generation
13.10.5 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Centrifugal Chiller System Market: Competitive Dashboard
14.2 Global Centrifugal Chiller System Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 MITSUBISHI HEAVY INDUSTRIES, LTD
14.3.2 Johnson Controls
14.3.3 Daikin Applied
14.3.4 ADVANCE INDUSTRIAL REFRIGERATION
14.3.5 LG Electronics
14.3.6 Trane
14.3.7 Blue Star Limited
14.3.8 Carrier Corporation
14.3.9 Dunham-Bush Americas
14.3.10 Midea
