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HVAC Chillers Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 – 2026

Heating, ventilation, and air conditioning (HVAC) chillers are refrigeration systems that provide cooling for industrial and commercial applications. Water, oils, and other fluids are used as refrigerants in HVAC chillers. The refrigerants are compressed to create a high pressure and super-heated gas, which is cooled by the condenser to form a warm liquid. The thermal expansion valve releases the refrigerant into the evaporator, which converts the warm liquid to a cool, dry gas. HVAC chillers are used in many industries to keep machines running without getting overheated. HVAC chillers are primarily used high-rise buildings.

The HVAC chillers market is expected to expand at a considerable pace in the near future. Increased preference for district cooling systems in many industries and high-rise buildings is a major driver of the HVAC chillers market. District cooling, also known as centralized production and distribution of cooling energy, is replacing traditional air cooling systems as it is more cost effective and energy efficient. Additionally, growth in the tourism industry globally has enhanced the construction of hotels and public infrastructure, where HVAC chillers can be widely utilized. Moreover, rise in the number of skyscrapers globally is anticipated to fuel the growth of the HVAC chillers market as these chiller are widely used in the cooling and ventilation of skyscrapers. Regions such as the Middle East and Asia are booming in terms of construction of skyscrapers. This is likely to offer expansion opportunities for the HVAC chillers market in the regions. Exponential growth of data centers across the globe is another key driver of the HVAC chillers market. Data centers are areas where computer servers are stored and require a continuous supply of cool air. Increase in dependency on the Internet and social media and advances in technology have led to an increase in the number of data centers. However, the use of HVAC chillers for cooling skyscrapers proves to be costly as additional structures are required to transfer the cool air along the length of the buildings. HVAC chillers require high maintenance as chilled water cooled systems use water for transferring heat, which can exposes the water to a range of conditions creating scaling. Scaling is the process of accumulation of deposits on metal. It can cause corrosion as well as decrease system efficiency. Additionally, chillers are less efficient in humid conditions. To address these situations, more advanced chillers are necessary, which come at a cost. This is expected to hamper the HVAC chillers market in the coming years. However, the development of advanced HVAC chillers that are more energy efficient and cheaper can help penetrate new areas od the market. This is projected to offer lucrative opportunities to the HVAC chillers market.

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The global HVAC chillers market can be segmented based on product, end-user, and geography. Based on product, the global HVAC chillers market can be categorized into screw chillers, centrifugal chillers, and scroll chillers. In terms of end-user, the market can be divided into residential and commercial.  Based on geography, the market can be classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Prominent players operating in the HVAC chillers market include Daikin Industries (Japan), Ingersoll Rand (Trane), (India), Johnson Controls (the U.S.), LG Electronics (South Korea), Mitsubishi Electric, (Japan), United Technologies (Carrier) (the U.S.), , Climaveneta S.p.A. (Italy), Airedale Air Conditioning (U.K.), JIANGSU SHUANGLIANG ECO-ENERGY CO.LTD. (China), Thermionics Corporation (U.S.), SKM Air Conditioning LLC (UAE), Thermal Care, Inc. (U.S.), and Kaltra Innovativtechnik GmbH (Germany), PolyScience (U.S.), Bluebox (Italy). These companies compete with each other to gain a competitive edge based on their product portfolio, new technologies, etc.