Published Date: 10-Jul-2020
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According to a new report Global Recirculating Chillers Market, published by KBV research, The Global Recirculating Chillers Market size is expected to reach $971.3 Million by 2026, rising at a market growth of 4.9% CAGR during the forecast period.
The 1°C to 100°C market dominated the Global Recirculating Chillers Market by Temperature Range 2019. The -100°C to 0°C segment is expected to witness an exponential growth rate over the forecast period. Recirculating chillers operating at extremely low temperatures between -100°C and 0°C are very expensive as they use two compressors. These extreme low-temperature chillers are capable of maintaining and ensuring fluid temperature stability. They are also used for industrial applications, such as plastics and laser processing, printing and machine tooling.
The Laboratory market dominated the Global Recirculating Chillers Market by Application 2019. They are used to reduce the heat generated and therefore to reduce the maintenance of the systems used in the industry. In addition, closed loop chiller systems are preferred by the pharmaceutical industry as they re-use water to enable the pharmaceutical industry to achieve its eco-friendly objective. Additionally, The Medical market is expected to witness highest CAGR of 5.4% during (2020 - 2026).
The rack mounted type held the largest market share. The rack-mounted recirculating chillers are being used in electron microscopes, vacuum pump cooling, and pain material temperature control. They occupy less space and are flexible and mobile. In addition, recirculating chillers rack mounted are also used for bench top chiller applications. The Bench Top market is expected to witness a CAGR of 5.3% during (2020 - 2026).
The North America market dominated the Global Recirculating Chillers Market by Region 2019. The Asia Pacific region has been experiencing a significant growth rate of 5.4% during the forecast period. This growth is attributed to the thriving pharmaceutical and manufacturing sector in the region. Investments by market leaders in developing countries like China and India are expected to fuel the market growth at a significant rate. High growth in the region is due to increased expenditure on infrastructure. Growing laboratory establishments and rapid growth of the semiconductor industry are expected to fuel demand growth over the forecast period. The Europe market is expected to witness a CAGR of 4.7% during (2020 - 2026).
Structural Insights: https://www.kbvresearch.com/recirculating-chillers-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Agilent Technologies, Inc., BASF SE (ThermoTek), Thermo Fisher Scientific, Inc., Across International, LLC, BUCHI Labortechnik AG, Dimplex Thermal Solutions, Inc. (GlenDimplex), JULABO GmbH, LAUDA-Brinkmann, LP, Lytron, Inc. (Boyd Corporation), and Peter Huber Kältemaschinenbau AG.
By Temperature Range
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