The Asia Pacific chillers market size is expected to gain momentum by reaching USD 6.69 billion by 2027 while exhibiting a CAGR of 4.3% between 2020 and 2027. This is attributable to the rising food and beverage sector in Asia-Pacific and the increasing focus on developing green construction to surge the demand in the Asia Pacific chillers category. This information is published by Fortune Business Insights, in its latest report, titled, “Asia Pacific Chillers Market Size, Share & Covid-19 Imapact Analysis, By Type (Screw, Scroll, Centrifugal, and Others), By Application (Chemicals & Petrochemicals, Food & Beverage, Medical, Plastic, and Rubber) and Regional Forecast, 2020-2027.” The market stood at USD 4.82 billion in 2019.
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Reduced HVAC Investments to Impact Asia Pacific Chillers Segment Growth
The pandemic has led to suspended industrial activities due to the lockdown announced by the government agencies. Major supply chain disruption, halted manufacturing activities, and limited workforce availability has led to a significant economic downturn across all sectors. The HVAC sector has seen reduced investment owing to the volatile nature of the market amidst the novel coronavirus. This is expected to affect Asia Pacific Chillers Market growth to some extent in the near future.
Chillers are extensively adopted to provide a continuous flow of coolant for several residential and commercial applications. They aid in removing heat from a liquid through the vapor-compression method. Furthermore, they consist of four basic components such as a compressor, an expansion unit, an evaporator, and a condenser. The Asia Pacific chillers segment is witnessing a massive demand from the food and beverage sector.
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What does the Report Include?
The Asia Pacific Chillers Market report includes qualitative and quantitative analysis of several factors such as the key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to announce partnerships, introduce new products, and collaborate that will further contribute to the growth of the market between 2020 and 2027. Moreover, the research analyst has adopted several research methodologies to extract information about the current trends and industry developments that will drive the Asia Pacific Chillers Market growth during the forecast period.
List of the Companies Profiled in the Market for Asia Pacific Chillers:
- Johnson Controls International (Cork, Ireland)
- Trane (Dublin, Ireland)
- Carrier (Florida, United States)
- Mitsubishi Electric Corporation (Tokyo, Japan)
- Daikin Airconditioning India Pvt. Ltd. (Osaka, Japan)
- Smardt Chiller Group (Quebec, Canada)
- Multistack LLC (Wisconsin, United States)
- Thermax Limited (Maharashtra, India)
- Thermal Care Inc. (Illinois, United States)
- Midea Group (Foshan, China)
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Highlights of the Report:
- Market Penetration: Comprehensive information on the product portfolios of the top players in the Asia Pacific Chillers Market.
- Product Development/Innovation: Detailed insights on the upcoming technologies, RandD activities, and product launches in the Asia Pacific Chillers Market
- Competitive Assessment: In-depth assessment of the market strategies, geographic and business segments of the leading players in the Asia Pacific Chillers Market
- Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Asia Pacific Chillers Market
