1. What is the projected Compound Annual Growth Rate (CAGR) of the Centrifugal Chillers Market?
The projected CAGR is approximately 3.21 %.
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Centrifugal Chillers MarketCentrifugal Chillers Market by Type (Air Cooled, Water Cooled), by Tonnage (Less than 1000, 1000, 2000, More than 2000), by Industry (Food & Beverage, Pharmaceutical, Plastics, Chemicals & Petrochemicals, Data Centres, Others (Commercial, Rubber, etc.), by North America (U.S., Canada, Mexico), by Europe (UK, Germany, France, Italy, Spain, Russia, Netherlands, Switzerland, Poland, Sweden, Belgium), by Asia Pacific (China, India, Japan, South Korea, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, New Zealand), by Latin America (Brazil, Mexico, Argentina, Chile, Colombia, Peru), by MEA (UAE, Saudi Arabia, South Africa, Egypt, Turkey, Israel, Nigeria, Kenya) Forecast 2026-2034
The Centrifugal Chillers Market size was valued at USD 4.2 USD billion in 2023 and is projected to reach USD 5.24 USD billion by 2032, exhibiting a CAGR of 3.21 % during the forecast period. Centrifugal chillers are large-scale cooling systems that utilize a rotary impeller to compress the refrigeration to aid the absorption and transfer of heat. These systems work using the centrifugal force for the circulation of the refrigerant within a cycle of compression and evaporation. Chillers are classified by the stages of compression and efficiency, two of which are single-stage and multi-stage chillers. A centrifugal chiller is characterized by high cooling capacities, energy efficiency of the equipment, and the provision of sophisticated control systems. They are normally employed in large business and industrial undertakings which require vast amounts of refrigeration including offices, health facilities, and factories. Because of the efficiency of the two coolants, they are best suited for applications that require scaled and standardized cooling systems.
Centrifugal Chillers Market Trends
The centrifugal chillers market is influenced by various trends, including:
Type:
Tonnage:
Industry:
| Aspects | Details |
|---|---|
| Study Period | 2020-2034 |
| Base Year | 2025 |
| Estimated Year | 2026 |
| Forecast Period | 2026-2034 |
| Historical Period | 2020-2025 |
| Growth Rate | CAGR of 3.21 % from 2020-2034 |
| Segmentation |
|
Note*: In applicable scenarios
Primary Research
Secondary Research
Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
The projected CAGR is approximately 3.21 %.
Key companies in the market include Carrier Global Corporation (U.S.), Daikin Industries Ltd. (Japan), Trane Technologies plc (Ireland), Johnson Controls International plc (Ireland), Mitsubishi Heavy Industries Ltd. (Japan) , LG Electronics Inc. (South Korea), Hitachi Ltd. (Japan), Swegon AB (Sweden), Blue Star Ltd. (India), Airedale International Air Conditioning Ltd. (UK).
The market segments include Type, Tonnage, Industry.
The market size is estimated to be USD 4.2 USD billion as of 2022.
Rising Demand from the Automotive and Construction Sectors to Aid Market Growth.
Technological Advancement in Equipment to Propel Market Growth.
High Production and Import Cost is Hampering the Market Growth.
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