HVAC Chillers Market | Market Highlights and Insights to Recovery from COVID-19
Market Segments and Growth Analysis 2021-2025

The Global hvac chillers market is expected to grow by $ 2.62 bn, accelerating at a CAGR of almost 5% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.

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HVAC Chillers Market: Market Segments and Growth Forecasts

This research report will provide insights into the current market share of each segment along with growth projections for the next five years.

• The report segments the market by Product (screw chillers, scroll chillers, centrifugal chillers, and other chillers), Geography (APAC, Europe, North America, South America, and MEA), and End-user (industrial sector and commercial sector). Each market segment is analyzed for past performance leading to future growth projections based on current market scenario.
• The APAC region emerged as the leading segment in recent years. 53% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the HVAC Chillers Market size.

HVAC Chillers Market: Trends, Drivers, Challenges

The report also offers a detailed impact analysis of various trends, drivers, and challenges that are likely to influence the market growth during the forecast period. These insights will equip clients to design a growth strategy for their business and area of operations.

• growing demand for absorption chillers across industrial sector will be a significant factor in driving the growth of the HVAC Chillers Market.
• drivers.2 is another factor that will be instrumental in driving market growth during the forecast period.
• intensified market competition is a hurdle that needs to be crossed on the path to success.

HVAC Chillers Market: Vendor Analysis

• The market is fragmented.
• The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
• AB Electrolux, Daikin Industries Ltd., Honeywell International Inc., Johnson Controls International Plc, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., Samsung Electronics Co. Ltd., Siemens AG, and Trane Technologies Plc are some of the major market participants.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerate at a CAGR of almost 5%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by $ 2.62 bn through 2021-2025.
    
3. What is a key factor driving this market?
   growing demand for absorption chillers across industrial sector will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   53% growth will originate from APAC
    
6. Who are the leading market vendors?
   The leading vendors in this market are AB Electrolux, Daikin Industries Ltd., Honeywell International Inc., Johnson Controls International Plc, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., Samsung Electronics Co. Ltd., Siemens AG, and Trane Technologies Plc
    
7. What are the market segments covered in this report?
   The market is segmented by Product (screw chillers, scroll chillers, centrifugal chillers, and other chillers), Geography (APAC, Europe, North America, South America, and MEA), and End-user (industrial sector and commercial sector)

HVAC Chillers Market Size to Grow by $ 2.62 bn During 2021-2025

Technavio has been monitoring the hvac chillers market and it is expected to grow by $ 2.62 bn, accelerating at a CAGR of almost 5% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking View Free Sample Report

HVAC Chillers Market: APAC to lead market growth during the forecast period

• 53% of the market growth will originate from APAC during the forecast period.
• Growth in commercial and industrial sectors will be a key trend that will influence market growth significantly.
• The Growing demand for absorption chillers across industrial sector will be a significant factor in driving the growth of the hvac chillers market.

HVAC Chillers Market: Key Competitors

The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. AB Electrolux, Daikin Industries Ltd., Honeywell International Inc., Johnson Controls International Plc, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., Samsung Electronics Co. Ltd., Siemens AG, and Trane Technologies Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

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HVAC Chillers Market: Key Highlights of the Report for 2021-2025

• CAGR of the market during the forecast period 2021-2025
• Detailed information on factors that will drive hvac chillers market growth during the next five years
• Precise estimation of the hvac chillers market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• The growth of the hvac chillers market industry across APAC, Europe, North America, South America, and MEA
• A thorough analysis of the market’s competitive landscape and detailed information on vendors
• Comprehensive details of factors that will challenge the growth of hvac chillers market vendors

The Global HVAC Chillers Market is expected to grow by USD 2.62 billion, accelerating at a CAGR of almost 5% during the forecast period. The industrials sector is expected to witness negative growth as a result of COVID-19, and the impact of the pandemic on the market in focus is also expected to remain NEGATIVE. Technavio evaluates the market with a detailed investigation into the market forces, emerging trends, and growth drivers. It also provides competitive benchmarking to equip clients with actionable insights that will help them navigate through the current market scenario. View our latest report

"The growing demand for absorption chillers across the industrial sector will drive the growth prospects for the global HVAC Chillers Market in the forthcoming years. 53% of the market growth will originate from APAC during the forecast period", says senior research analyst for the Industrials Industry at Technavio.

HVAC Chillers Market: Product Segment Highlights

• Product Segmentation: screw chillers, scroll chillers, centrifugal chillers, and other chillers
• The screw chillers segment is expected to lead the HVAC chiller plant market in the forthcoming years due to the rising adoption of screw chillers in comparison to scroll chillers and centrifugal chillers. Therefore, the growth of the market segment is expected to be significant during the forecast period.

HVAC Chillers Market: Competitive Insights

• The HVAC Chillers Market is fragmented due to the presence of several vendors.
• Market vendors focused on market expansion, innovations, and expansion of distribution networks.
• AB Electrolux, Daikin Industries Ltd., Honeywell International Inc., Johnson Controls International Plc, LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., Samsung Electronics Co. Ltd., Siemens AG, and Trane Technologies Plc are some of the major market participants. Although vendors will leverage external market drivers such as growing demand for absorption chillers across the industrial sector to achieve growth opportunities, factors such as intensified market competition will challenge the growth of the market participants.

Technavio provides custom research reports with detailed insights on the impact of COVID-19 with respect to the industry, region, and supply chain operations. This customized report will help clients keep up with new product launches in direct & indirect COVID-19 related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations. Download a Free Sample Report