Published Date: 28-Jul-2022
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According to a new report, published by KBV research, The Global Industrial Air Chiller Market size is expected to reach $5.9 billion by 2028, rising at a market growth of 4.5% CAGR during the forecast period.
The Transport segment is showcasing a CAGR of 6.4% during (2022 - 2028). The rising growth of the segment is attributed to increasing global warming all over the world. Transport air chiller, also called refrigerated transportation is a type of freight delivery that necessitates the use of specific, temperature-controlled vehicles. The vehicle that is transporting the goods has a built-in refrigeration system that keeps the goods at the proper temperature during transportation.
The Screw Driven Chillers segment acquired maximum revenue share in the Global Industrial Air Chiller Market by Type in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.52 billion by 2028. A screw chiller is a fluid chiller that uses two rotating helical screws to conduct the vapor-compression refrigeration process. Screw chillers are smaller, quieter, and have fewer components than reciprocating, centrifugal, and absorption chillers and hence, the growth of this segment is rapidly rising.
The Food & Beverage segment has shown growth rate of 4.8% during (2022 - 2028). The rising growth of the segment is attributed to the rapid expansion in the food and beverage sector all over the world. In addition, the rapidly increasing global warming is another major factor that is necessitating the utilization of air chillers across the world. In order to protect food and beverage products from contamination, various market players in the food and beverage business are leveraging industrial air chillers.
The Asia Pacific market dominated the Global Industrial Air Chiller Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $2.24 billion by 2028. The Europe market is estimated to grow at a CAGR of 4.1% during (2022 - 2028). Additionally, The North America market would witness a CAGR of 3.9% during (2022 - 2028).
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 Johnson Controls International PLC, Mitsubishi Electric Corporation, Daikin Industries, Ltd., Trane Technologies PLC, Carrier Global Corporation, Blue Star Limited, Airedale International Air Conditioning Ltd., HIVER Aircon Pvt. Ltd., Gem Orion Machinery Private Limited, and Jiangsu Huazhao Refrigeration Equipment CO., Ltd.
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