Global HVAC Chillers Market 2018-2022
About HVAC Chillers
Heating, ventilation, and air conditioning (HVAC) chillers are equipment used to cool a building or an equipment. HVAC is an assembly of various types of equipment installed together to provide heating and cooling. It is also used in different industries to keep the machinery running by maintaining the temperature of the place where machines are installed.
Technavio’s analysts forecast the global HVAC chillers market will post a revenue of close to USD 11 billion by 2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global HVAC chillers market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global HVAC Chillers Market 2018-2022
Technavio recognizes the following companies as the key players in the global HVAC chillers market: DAIKIN INDUSTRIES, Ingersoll Rand (Trane), Johnson Controls, LG Electronics, Mitsubishi Electric, and United Technologies (Carrier).
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing number of data centers. Data centers are a centralized hub of information, owned and operated by businesses and firms to provide reliable and uninterrupted data. In the last few years, the number of data centers has substantially increased and is expected to continue rising over the coming years.”
According to the report, one driver in the market is growing demand for absorption chillers across industrial sector. The preference for absorption chillers is high among end-users as it offers a wide range of benefits in comparison to conventional chillers. These benefits include low noise levels, lower maintenance and operational costs, and improved efficiency.
Further, the report states that one challenge in the market is intensified market competition. The global HVAC chillers market is geographically diverse and witnesses intense competition. The existence of numerous international and regional players has intensified the market competition.