Dublin, Feb. 08, 2024 (GLOBE NEWSWIRE) -- The "Industrial Air Chiller Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The global industrial air chiller market is poised for continued expansion, projecting a noteworthy Compound Annual Growth Rate (CAGR) of 5.3% through 2028. A new in-depth analysis of this dynamic market explores the contributing factors to this expected growth, including burgeoning demand across key sectors such as pharmaceuticals and food & beverage, and the increasing emphasis on energy-efficient and innovative cooling solutions.
The comprehensive report sheds light on the current state of the industrial air chiller market while providing forward-looking insights. The recent surge in the UK pharmaceutical industry, with an 8% increase in production value, has significantly influenced the need for reliable and precise cooling equipment. Similarly, the food and beverage industry's commitment to maintaining product safety standards has led to a rise in the adoption of industrial air chillers, supported by substantial revenue growth reported in food manufacturing.
Strengthening Global Infrastructure and Urbanization to Propel Market Growth
The anticipated increase in infrastructure development activities, coupled with ongoing urbanization, is expected to further buoy the industrial air chiller market. As urban areas expand and new facilities emerge, the requirement for effective cooling systems in various applications is creating numerous opportunities for manufacturers.
Product Innovation: A Keystone for Industrial Air Chiller Manufacturers
Companies at the forefront of the industrial air chiller market are channeling efforts towards the development of cutting-edge products. Advances such as the R32 e-series air-cooled chillers introduced by Mitsubishi Electric and Carrier's AquaForce Vision 30KAV exemplify industry evolution, highlighting a clear focus on performance and sustainability.
Strategic Acquisitions and Regional Dominance
Within the competitive landscape, notable strategic acquisitions like Carrier Corporation's purchase of Guangdong Giwee Group emphasize the strategic maneuvers by leading companies seeking to broaden their market presence, particularly in robust markets like North America, which led the sector in 2023.
- Implementation of Stringent Environmental Regulations
- Advancements in Process Cooling Techniques
- Key Industry Player Innovations and Product Launches
- Impact of Climate Change on Industry Practices
This detailed report provides vital insights into the market dynamics, offering an invaluable resource for stakeholders to navigate the future trajectory of the industrial air chiller industry. It presents a granular analysis, encompassing various chiller types such as centrifugal, reciprocating, scroll compressor, and screwdriver chillers. The deployment of these chillers across diverse industries – from the pharmaceuticals to food and beverage, utility and power, and oil and gas sectors – is thoroughly examined.
The study incorporates extensive market statistics and trends, regional analysis with country-level data, competitive landscape, and market segmentation. In terms of market values, the report methodically calculates revenue generated by the industry, providing a comprehensive 'factory gate' value that includes the sale of goods and associated services directly to end customers or other entities. This meticulous approach ensures an accurate and thorough depiction of the industrial air chiller market's scope and scale.
As the industrial air chiller market continues to evolve, driven by technological advancements and shifting market demands, this report offers a pivotal resource for informed decision-making and strategic planning.
For additional information on this comprehensive analysis of the industrial air chiller market, please visit our research publication section.
Companies Profiled:
- Johnson Controls International PLC
- Mitsubishi Electric Corporation
- Daikin Industries Ltd.
- Trane Technologies Company LLC
- Carrier Global Corporation
- Blue Star Limited
- Airedale International Air Conditioning Ltd.
- Hiver Aircon Pvt. Ltd.
- GEM Orion Machinery Private Limited
- Jiangsu Huazhao Refrigeration Equipment Co. Ltd.
- Fujitsu General Limited
- Haier Group Corporation
- Midea Group
- Ingersoll Rand Inc.
- Panasonic Holdings Corporation
- Hitema International S.r.l.
- HYDAC Technology GmbH
- KKT chillers Inc.
- Lennox International Inc.
- LG Electronics Inc.
- MTA S.p.A.
- Multistack LLC
- Parker-Hannifin Corporation
- Process Cooling Systems Inc.
- Reynold India Pvt. Ltd.
- Rittal GmbH & Co. KG
- Shanghai Shenglin M&E Technology Co. Ltd.
- Sterling HVAC Products
- Thermal Care Inc.
- YORK International Corporation
For more information about this report visit https://www.researchandmarkets.com/r/e455b0
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