Global Centrifugal Chiller Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Centrifugal Chiller Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Centrifugal chillers refer to products that provide air conditioning cold water or process cold water for large buildings. They use centrifugal compressors, motor drives, refrigerants, condensers, and evaporators to provide cold water outlet temperatures above 5 degrees.

Market Overview:

The latest research study on the global Centrifugal Chiller market finds that the global Centrifugal Chiller market reached a value of USD 4246.51 million in 2022. It’s expected that the market will achieve USD 5133.43 million by 2028, exhibiting a CAGR of 3.21% during the forecast period.

Centrifugal Chiller Market Opportunities

The rapid flow of global population from rural to urban areas has become an opportunity for centrifugal chillers. Because the centrifugal chiller has high performance, it has become a costeffective part of the HAVC system. The increase in population mobility from rural to urban areas will drive the demand for HVAC systems, which will become an opportunity for the development of the centrifugal chiller market.
Due to the continuous improvement of urbanization and industrialization in Asia and the increasing energy consumption, the centrifugal chiller with the highest coefficient of performance will undoubtedly become a hot spot in the market. Because, in many large buildings, centrifuge products always have extremely high product attributes and practicability.

In China, with the continuous improvement of its economic development level, the process of urbanization is also accelerating, and more and more centrifuges are used in office buildings, hotels, shopping malls, office buildings and other places. In addition, with the promotion of industrialization, more high-tech factories began to use centrifuge products. Centrifuge has become an important part of China's central air conditioning market.

Therefore, the increase in the level of urbanization and industrialization in Asia will become an opportunity for the centrifugal chiller market. At the same time, it was also driven by the increase in manufacturing activities and investment of Asian companies.

Region Overview:

Asia Pacific had the highest growth rate of all regions.

Company Overview:

Carrier is one of the major players operating in the Centrifugal Chiller market, holding a share of 21.44% in 2020.

Carrier Corporation manufactures and distributes heating, ventilating, and air conditioning (HVAC) systems. The Company also produces commercial refrigeration and food service equipment for the food industry. Carrier distributes its products all over the globe.

Johnson Controls, Inc. produces electronics and HVAC equipment. The Company offers HVAC equipment, building automation, security, fire detection, batteries, and other related products, as well as building control systems, energy management, and integrated facility management services. Johnson Controls serves customers worldwide.

Segmentation Overview:

Among different product types, Single-Stage Centrifugal Chiller segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Commercial segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Centrifugal Chiller market covered in Chapter 3:

Carrier
Daikin
Dunham-Bush
Trane
LG
Haier
Johnson Controls
Hitachi
Midea
Mitsubishi Heavy Industries
GREE

In Chapter 4 and Chapter 14.2, on the basis of types, the Centrifugal Chiller market from 2018 to 2029 is primarily split into:

Single-Stage Centrifugal Chiller
Two-Stage Centrifugal Chiller

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Centrifugal Chiller market from 2018 to 2029 covers:

Commercial
Industrial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)