Market Overview:
The global turbo chiller market is expected to grow at a CAGR of 5.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for energy-efficient equipment and rising awareness about energy conservation. In terms of type, the water-cooled turbo chiller segment is expected to dominate the market during the forecast period. This can be attributed to its high efficiency and low noise levels as compared to other types of turbo chillers.
Product Definition:
A turbo chiller is a type of equipment used in industrial refrigeration systems. It employs a turbine to drive the compressor, which increases the efficiency of the system. The importance of turbo chillers is that they can provide significant energy savings over traditional centrifugal chillers.
Water-cooled Turbo Chiller:
Water-cooled turbo chiller is a heat exchanger which is used to cool the engine block of a gas turbine. It works on the principle of condensation, as water passes through the tubes in the cooler it gets converted into a vapor and then back to liquid form when it meets with hot gases. The process helps in removing excess heat from engine block and thereby reduces its temperature, this makes possible for smooth functioning of machinery.
Air-cooled Turbo Chiller:
An air-cooled turbo chiller is a heat exchanger used to cool the exhaust gases from a gas turbine engine. The product finds application in power generation, oil & gas and chemical industries. It is also referred to as an ACH or Air Cooled Condenser Chiller.
The product offers benefits such as low space requirement, easy installation and maintenance along with high thermal efficiency which makes it suitable for use in small scale power plants that have limited cooling capacity.
Application Insights:
The food and beverage industry was the largest application segment in 2017. The chemical industry is expected to be the fastest-growing segment over the forecast period owing to increasing demand for chilled chemicals across various industries. Pharmaceutical, metalworking and energy industries also use these chillers as they offer cost-effective solutions while maintaining high performance standards.
Turbo chills are used in a wide variety of applications including pharmaceuticals, food processing and packaging, cosmetics manufacturing, pulp and paper mills along with other industrial processes such as oil refining or power generation that require large volumes of chilled water at low temperatures for efficient operations.
Regional Analysis:
Asia Pacific dominated the global market in 2017 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing demand from end-use industries such as food and beverage, pharmaceutical, chemical, and others. China is one of the largest economies in terms of both population and GDP with India being one of the fastest-growing economies globally. These countries are also home to some major manufacturing hubs that have a strong base for logistics services coupled with robust transportation infrastructure facilitating timely delivery across Asia Pacific region.
The U.S., Mexico, China, India (UCI), Brazil are among top 10 trading partners worldwide; these nations together account for more than 50% share within world economy; trade between these nations accounts for nearly USD X trillion per year on average’s which amounts to USD X thousand per person every year.
Growth Factors:
- Increasing demand for chilled food and beverages due to changing lifestyle and growing population
- Rapid growth of the food service industry
- Rising disposable income of consumers in developing countries
- Proliferation of supermarkets and retail chains that offer chilled products
- Technological advancements in refrigeration systems
Scope Of The Report
Report Attributes
Report Details
Report Title
Turbo Chiller Market Research Report
By Type
Water-cooled Turbo Chiller, Air-cooled Turbo Chiller
By Application
Chemical Industry, Food and Beverage Industry, Pharmaceutical Industry, Others
By Companies
KTurbo, Johnson Controls - Hitachi Air Conditioning, Aqua Cooling, Mitsubishi Heavy Industries, Airedale International Air Conditioning, Smardt Chiller Group, Arctic Chiller Group, Hyundai Climate Control
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
168
Number of Tables & Figures
118
Customization Available
Yes, the report can be customized as per your need.
Global Turbo Chiller Market Report Segments:
The global Turbo Chiller market is segmented on the basis of:
Types
Water-cooled Turbo Chiller, Air-cooled Turbo 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
Chemical Industry, Food and Beverage Industry, Pharmaceutical Industry, 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:
- KTurbo
- Johnson Controls - Hitachi Air Conditioning
- Aqua Cooling
- Mitsubishi Heavy Industries
- Airedale International Air Conditioning
- Smardt Chiller Group
- Arctic Chiller Group
- Hyundai Climate Control
Highlights of The Turbo Chiller 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:
- Water-cooled Turbo Chiller
- Air-cooled Turbo Chiller
- By Application:
- Chemical Industry
- Food and Beverage Industry
- Pharmaceutical Industry
- 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 Turbo Chiller 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.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
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?
Turbo Chiller is a refrigeration technology that uses a rotating compressor to increase the speed of airflow through the unit. This increased airflow helps to reduce cooling time and improve efficiency.
Some of the key players operating in the turbo chiller market are KTurbo, Johnson Controls - Hitachi Air Conditioning, Aqua Cooling, Mitsubishi Heavy Industries, Airedale International Air Conditioning, Smardt Chiller Group, Arctic Chiller Group, Hyundai Climate Control.
The turbo chiller market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Turbo Chiller 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 Turbo Chiller Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Turbo Chiller 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 Turbo Chiller 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 Turbo Chiller Market Size & Forecast, 2018-2028
4.5.1 Turbo Chiller Market Size and Y-o-Y Growth
4.5.2 Turbo Chiller Market Absolute $ Opportunity
Chapter 5 Global Turbo Chiller 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 Turbo Chiller Market Size Forecast by Type
5.2.1 Water-cooled Turbo Chiller
5.2.2 Air-cooled Turbo Chiller
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Turbo Chiller 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 Turbo Chiller Market Size Forecast by Applications
6.2.1 Chemical Industry
6.2.2 Food and Beverage Industry
6.2.3 Pharmaceutical Industry
6.2.4 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Turbo Chiller 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 Turbo Chiller 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 Turbo Chiller Analysis and Forecast
9.1 Introduction
9.2 North America Turbo Chiller 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 Turbo Chiller Market Size Forecast by Type
9.6.1 Water-cooled Turbo Chiller
9.6.2 Air-cooled Turbo 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 Turbo Chiller Market Size Forecast by Applications
9.10.1 Chemical Industry
9.10.2 Food and Beverage Industry
9.10.3 Pharmaceutical Industry
9.10.4 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 Turbo Chiller Analysis and Forecast
10.1 Introduction
10.2 Europe Turbo Chiller 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 Turbo Chiller Market Size Forecast by Type
10.6.1 Water-cooled Turbo Chiller
10.6.2 Air-cooled Turbo 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 Turbo Chiller Market Size Forecast by Applications
10.10.1 Chemical Industry
10.10.2 Food and Beverage Industry
10.10.3 Pharmaceutical Industry
10.10.4 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 Turbo Chiller Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Turbo Chiller 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 Turbo Chiller Market Size Forecast by Type
11.6.1 Water-cooled Turbo Chiller
11.6.2 Air-cooled Turbo 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 Turbo Chiller Market Size Forecast by Applications
11.10.1 Chemical Industry
11.10.2 Food and Beverage Industry
11.10.3 Pharmaceutical Industry
11.10.4 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 Turbo Chiller Analysis and Forecast
12.1 Introduction
12.2 Latin America Turbo Chiller 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 Turbo Chiller Market Size Forecast by Type
12.6.1 Water-cooled Turbo Chiller
12.6.2 Air-cooled Turbo 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 Turbo Chiller Market Size Forecast by Applications
12.10.1 Chemical Industry
12.10.2 Food and Beverage Industry
12.10.3 Pharmaceutical Industry
12.10.4 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) Turbo Chiller Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Turbo Chiller 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) Turbo Chiller Market Size Forecast by Type
13.6.1 Water-cooled Turbo Chiller
13.6.2 Air-cooled Turbo 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) Turbo Chiller Market Size Forecast by Applications
13.10.1 Chemical Industry
13.10.2 Food and Beverage Industry
13.10.3 Pharmaceutical Industry
13.10.4 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 Turbo Chiller Market: Competitive Dashboard
14.2 Global Turbo Chiller Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 KTurbo
14.3.2 Johnson Controls - Hitachi Air Conditioning
14.3.3 Aqua Cooling
14.3.4 Mitsubishi Heavy Industries
14.3.5 Airedale International Air Conditioning
14.3.6 Smardt Chiller Group
14.3.7 Arctic Chiller Group
14.3.8 Hyundai Climate Control
