DUBLIN, October 20, 2017 /PRNewswire/ --

The "Chillers Market - Global Forecast to 2022" report has been added to Research and Markets' offering.

The market size for chillers is projected to reach USD 11.33 billion by 2022, at a CAGR of 4.4% during the forecast period.

Chillers are used in various process cooling applications in various industries. The chillers market is spread across a wide range of end-use industries such as chemical & petrochemical, plastic, rubber, food & beverage, and medical & pharmaceutical. Therefore, the market is expected to grow due to the growth in other related industries in the coming years. A slow growth rate in mature markets such as North America and Europe is the major restraint for the chillers market.

The chemical & petrochemical industry is projected to grow at the highest CAGR between 2017 and 2022. The high growth is attributed to the growing demand for chemical and petrochemical products and increased government measures on energy efficiency, which are driving the demand for chillers. The plastic industry is projected to account for the largest market share among all end-use industries, in terms of value during the forecast period.

Asia Pacific is projected to be the fastest-growing market for chillers in terms of value during the forecast period. China and India are the two major markets for chillers in the Asia Pacific. The Chinese plastic industry has the largest share in the Asia Pacific, resulting in an increased growth of the market. Also, high demand for chillers in solar cooling applications, and growing end-use industries are expected to drive the demand for chillers in both, China and India.

Companies Mentioned

• Advantage Engineering, Inc.
• Airedale Air Conditioning
• BV Thermal Systems
• Bluebox
• Broad Group
• Carrier Corporation
• Climaveneta S.P.A.
• Cold Shot Chillers
• Daikin Industries, Ltd.
• Drake Refrigeration Inc.
• Dunham Bush
• GEA Group
• Johnson Controls - Hitachi Air Conditioning
• Kaltra Innovativtechnik GmbH
• Lennox Emea
• Midea Group Co., Ltd.
• Polyscience
• SKM Air Conditioning LLC
• Shuangliang Eco-Energy Systems Co., Ltd.
• Smardt Chiller Group Inc.
• Tandem Chillers Inc.
• Thermal Care, Inc.
• Thermax Limited
• Thermonics Corporation
• Trane

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Chillers Market, By Capacity Range

7 Chillers Market, By Type

8 Chillers Market, By End-Use Industry

9 Chillers Market, By Region 

10 Competitive Landscape

11 Company Profile

For more information about this report visit https://www.researchandmarkets.com/research/k4h57r/chillers_market

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SOURCE Research and Markets