The Europe Water Chillers Market would witness market growth of 2.7% CAGR during the forecast period (2023-2029).
The food & beverage business also uses water chillers. In order to keep the water at the proper temperature, which is necessary for several operations, these are widely employed in the food processing sector. In this business, these are primarily used to maintain a constant temperature for both processed water and finished goods. It aids in stopping the growth of microorganisms, ensuring hygienic food manufacturing. Additionally, it aids in retaining the product's flavor and quality. Water chillers in this sector have additional advantages, such as reduced electricity usage, decreased waste, and increased production effectiveness.
These chillers also have applications in metal shaping. The metals need to be cooled at intervals during such processes. By doing this, the final product's quality and guarantee that it satisfies all requirements for safety and quality can be raised. Aluminum, copper, steel, brass, and zinc are common metals that undergo cooling utilizing water chillers.
One of the biggest manufacturing industries in Europe is the chemicals industry. In its capacity as an "enabling industry," it is crucial to supply cutting-edge materials and technological advancements to enhance Europe's industrial competitiveness. The chemicals business creates petrochemicals, polymers, fundamental inorganics, specialized chemicals, and consumer chemicals. The sector offers solutions for several societal problems as well as for other industries. Moreover, the EU chemicals sector creates 1.2 million direct, highly skilled jobs (2015), generating an annual trade surplus of €45 billion. It accounts for roughly 7.5% of EU manufacturing by turnover and has sales of €565 billion (2018), or around 17% of worldwide chemical sales. These elements are projected to contribute to the growth of the chemical and petrochemical industry, increasing the revenue of the regional market.
The Germany market dominated the Europe Water Chillers Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $397.5 Million by 2029. The UK market is experiencing a CAGR of 1.8% during (2023 - 2029). Additionally, The France market would display a CAGR of 3.4% during (2023 - 2029).
Based on Industry, the market is segmented into Chemicals & Petrochemicals, Food & Beverages, Medical, Plastics & Rubber, and Others. Based on Capacity, the market is segmented into >700 kW, 351-700 kW, 101-350 kW, and 0-100 kW. Based on System, the market is segmented into Continuous Flow, and Water Accumulation. Based on Type, the market is segmented into Screw Chiller, Scroll Chiller, Centrifugal Chiller, Absorption Chiller, Reciprocating Chiller, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Water Chillers Market is Projected to reach USD 7.9 Billion by 2029, at a CAGR of 3.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carrier Global Corporation, Mitsubishi Electric Corporation, Daikin Industries, Ltd., Dimplex Thermal Solutions, Inc. (Glen Dimplex Ireland), LG Electronics (LG Corporation), Johnson Controls International PLC, Gree Electric Appliances, Inc. of Zhuhai, Thermax Limited, Midea Group Co., Ltd., and Trane Technologies PLC.
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