Dublin, Dec. 27, 2024 (GLOBE NEWSWIRE) -- The "Screw Chillers - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Screw Chillers was estimated at US$3.4 Billion in 2023 and is projected to reach US$5 Billion by 2030, growing at a CAGR of 5.7% from 2023 to 2030.
The growth in the screw chillers market is driven by several key factors, starting with the increasing demand for energy-efficient HVAC systems across both commercial and industrial sectors. As businesses and governments place greater emphasis on reducing energy consumption and minimizing environmental impact, screw chillers have emerged as a preferred solution for efficient cooling. These chillers, particularly when integrated with variable-speed drives (VSDs) and eco-friendly refrigerants, can significantly reduce energy costs by optimizing compressor performance based on real-time cooling demand. This focus on energy savings is driving adoption across industries that require continuous or large-scale cooling.
Another major growth driver is the rapid expansion of data centers globally. With the rise of cloud computing, artificial intelligence, e-commerce, and the Internet of Things (IoT), data centers are proliferating at an unprecedented rate. These centers require robust and scalable cooling solutions to maintain operational efficiency and prevent equipment failure due to overheating. Screw chillers, with their high cooling capacity and adaptability to fluctuating loads, are particularly well-suited for large-scale data centers. As the global digital economy grows, the demand for screw chillers in this sector is expected to rise in tandem.
Technological advancements in screw chiller design and manufacturing are also fueling market growth. Manufacturers are increasingly focused on improving the energy efficiency, sustainability, and ease of maintenance of screw chillers. Innovations such as smart controls, advanced monitoring systems, and remote operation capabilities are making screw chillers more attractive to businesses looking for cutting-edge cooling solutions. These smart systems allow operators to optimize chiller performance, predict maintenance needs, and reduce downtime, ultimately improving operational efficiency. Additionally, the growing use of environmentally friendly refrigerants, which have a lower global warming potential (GWP), is driving the adoption of screw chillers that comply with stringent environmental regulations.
The expansion of industries such as pharmaceuticals, food and beverage, and plastics - each of which requires precise temperature control during production processes - is another critical factor driving the growth of the screw chillers market. As these industries grow and modernize, they are increasingly turning to screw chillers to provide reliable, high-capacity cooling that ensures product quality and operational efficiency. Additionally, the rising demand for district cooling systems, particularly in urban areas with high population density and warm climates, is further contributing to the growing adoption of screw chillers as a centralized, efficient cooling solution. These factors, combined with the global focus on energy efficiency and sustainability, are expected to drive significant growth in the screw chillers market in the years to come.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Plastics Application segment, which is expected to reach US$1.5 Billion by 2030 with a CAGR of a 6.1%. The Food & Beverage Application segment is also set to grow at 5.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $891.4 Million in 2023, and China, forecasted to grow at an impressive 8.4% CAGR to reach $1.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Screw Chillers Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Screw Chillers Market such as Carrier, Dunham Bush, EUROKLIMAT S.P.A., Haier Group, Johnson Controls and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 42 companies featured in this Global Screw Chillers market report include:
- Carrier
- Dunham Bush
- EUROKLIMAT
- Haier Group
- Johnson Controls
- LG Electronics
- McQuay Air-conditioning Ltd.
- Mitsubishi Electric Hydronics & IT Cooling Systems
- Robert Bosch
- Trane
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $3.4 Billion |
| Forecasted Market Value (USD) by 2030 | $5 Billion |
| Compound Annual Growth Rate | 5.7% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Global Economic Update
- Screw Chillers - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
FOCUS ON SELECT PLAYERS
Some of the 42 companies featured in this Global Screw Chillers market report include:
- Carrier
- Dunham Bush
- EUROKLIMAT S.P.A.
- Haier Group
- Johnson Controls
- LG Electronics
- McQuay Air-conditioning Ltd.
- Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A.
- Robert Bosch
- Trane
MARKET TRENDS & DRIVERS
- Focus on Reducing Carbon Emissions Expands Addressable Market for Screw Chillers
- Increasing Adoption in Industrial Cooling Applications Bodes Well for Market Growth
- Growth in Data Centers and IT Infrastructure Spurs Demand for Screw Chillers
- Adoption of Eco-Friendly Refrigerants Crucial for Sustaining Market Growth
- Regulatory Push for Energy Efficiency Standards Drives Demand for Screw Chillers
- Growing Focus on HVAC System Optimization Strengthens Adoption of Screw Chillers
- Increasing Investments in Smart Building Technologies Set the Stage for Market Growth
- Innovations in Low-Noise and Vibration-Free Chillers Bode Well for Market Growth
- Increasing Use in Cold Storage Facilities Expands Market Potential
- Growth in Pharmaceutical Industry Drives Demand for Temperature-Controlled Systems
- Expansion of Healthcare Infrastructure Propels Demand for High-Performance Cooling Systems
- Rising Adoption of District Cooling Systems Bodes Well for Screw Chillers Market
GLOBAL MARKET PERSPECTIVE
For more information about this report visit https://www.researchandmarkets.com/r/yzkvq8
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