Dublin, Sept. 14, 2023 (GLOBE NEWSWIRE) -- The "Brine Chillers Market Share, Size, Trends, Industry Analysis Report, By Product Type, By Application, By Industry Vertical, By Region, Segment Forecast, 2023 - 2032" report has been added to ResearchAndMarkets.com's offering.
The global brine chillers market is expected to reach USD 16,842.02 million by 2032. The report provides insights into current market dynamics and future growth prospects.
Market Drivers
The market's growth is attributed to increasing technological advancements in brine chillers, making them more reliable and efficient. Additionally, government agencies worldwide are implementing regulations to reduce greenhouse emissions and meet energy standards, further driving market demand. Continuous advancements in product capabilities and global availability cater to various industries, increasing product demand.
For example, ENGIE Refrigeration introduced the SPECTRUM Water Chiller with a capacity of 170 to 1,100 kilowatts, suitable for various process cooling applications.
Integration of smart and IoT-enabled features gains traction as chillers equipped with sensors, connectivity, and data analytics enable remote monitoring, predictive maintenance, and performance optimization. These features offer real-time insights, enhance system reliability, enable proactive maintenance, improve efficiency, and reduce downtime, creating new revenue opportunities.
Modular and scalable designs are also becoming popular, offering flexibility in capacity and configuration. Manufacturers provide customization options, delivering application-specific solutions for diverse industries such as food processing, pharmaceuticals, data centers, and chemical manufacturing.
Market Challenges
Maintenance and operational costs are among the challenges faced by the industry.
Companies Mentioned
- Johnson Controls Inc.
- Carrier Corporation
- Train Technologies plc
- Daikin Industries Ltd.
- Thermax Limited
- Blue Star Limited
- Mitsubishi Electric Corporation
- York International
- Frigel Firenge S.p.A.
- Kirloskar Chillers Pvt. Ltd.
- Thermal Care Inc.
- Mokon
- GEA Group AG
- Midea Group Co. Ltd.
- Voltas Limited.
Market Report Highlights
- Water-cooled brine chillers segment led the market, driven by the demand for efficient cooling solutions in HVAC systems and industrial settings.
- Industrial brine chillers segment dominated, with the continuous expansion of chemical, pharmaceutical, and food & beverage industries increasing demand for cooling solutions.
- The food & beverage segment is anticipated to grow at the fastest rate, efficient preservation of food items reducing spoilage.
- Asia Pacific led the global market, driven by increased R&D investment in power generation, transportation, and data centers.
Market Segmentation
Brine Chillers, Product Type Outlook (Revenue - USD Million, 2023 - 2032)
- Air-Cooled Brine Chillers
- Water-Cooled Brine Chillers
Brine Chillers, Application Outlook (Revenue - USD Million, 2023 - 2032)
- Industrial Brine Chillers
- Commercial Brine Chillers
- Residential Brine Chillers
Brine Chillers, Industry Vertical Outlook (Revenue - USD Million, 2023 - 2032)
- Food & Beverage
- Chemical & Petrochemical
- Pharmaceutical
- HVAC
- Energy
- Others
Brine Chillers, Regional Outlook (Revenue - USD Million, 2023 - 2032)
- North America (U.S., Canada)
- Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Malaysia)
- Latin America (Argentina, Brazil, Mexico)
- Middle East & Africa (UAE, Saudi Arabia, Israel, South Africa)
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 115 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $11500.41 million |
| Forecasted Market Value (USD) by 2032 | $16842.02 million |
| Compound Annual Growth Rate | 4.3% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/2ox3gq
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