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Process Chillers Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028

Feb 1st 2019 at 4:47 AM

Global Process Chillers Market Overview

Process chillers are types of refrigeration system that provides cooling for a process or industrial applications. Process chillers generally use halocarbons or ammonia as a refrigerant. Basic units of process chillers consist of evaporator, condenser, compressor, thermal expansion valves pumps, pipes, high-pressure refrigerant relief valves, cooling towers, tanks, filters and fans.

These equipment completely removes heat from the process load and provides constant low temperature. Process chillers are used to maintain low temperature and is used in a variety of end-use verticals. Process chillers are designed for most rugged and harsh environmental conditions. The market for process chillers will witness moderate growth during the forecast period.

Global Process Chillers Market Dynamics

Process chillers can operate with different fluids flowing at different flow rates and different temperatures. Thus, process chillers can work with multiple pumps and multiple cooling circuits resulting in better performance. As process chillers can easily maintain low temperatures with high efficiency, the process chillers technology finds versatile application in multiple types of industrial operations. Owing to the rise in the industrial growth across the globe, demand for process chillers is expected to increase rapidly in the upcoming years.

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Most of the industrial applications such as food processing, plastic molding and pharmaceuticals involve basic working principle of temperature regulation on a larger scale. These industrial cooling applications require the heat transfer to be rapid and consistent throughout the process, which can be fulfilled by using process chillers. Owing to its wide applications, process chillers are expected to be used in industrial cooling applications, which is encouraging manufacturers to develop more suitable and technologically advanced and apt equipment. Despite the positive outlook for the growth of the global process chillers market, there are certain factors which might impede the demand of process chillers.

Achieving maximum efficiency at conversion of the energy is one of the biggest challenges in designing the procedure of the process chillers, which results in increased complexity of the process chillers design. As brine solution used as thermal fluid can lead to high corrosion, the system should be designed in order to eliminate all such losses. The need to provide higher efficiency, lower maintenance, lower power consumptions, and reliability of the process chillers for long run, demand the designing process to be complex, resulting in increased cost of production.

Global Process Chillers Market Segmentation

The global process chillers market can be segmented on the basis of medium of cooling, by size and by end-use industry. On the basis of cooling process chillers can be further segmented as air-cooled and water-cooled. Although demand for air-cooled process chillers is more water-cooled process chillers is all set to gain traction in the upcoming years.

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Air cooled process chillers are self-contained and hence requires no additional setup whereas water cooled process chillers requires additional cooling tower and pump arrangement in order to cool water and supply back to condenser. Although the efficiency of air cooled process chillers is low it appeals to buyers because of ease of installation and its self-contained nature. On the basis of size, process chillers can be further segmented as < 100 KW, 100-400KW, > 400KW. < 100KW leads in terms of market share of process chillers market.

On the basis of end-use industry, process chillers can be further segmented as plastic industry, food & beverage industry, pharmaceutical industry, printing industry, chemical industry and other end-use industries. Plastic and food & beverage industry lead in terms of demand for process chillers market during the forecast period.

Global Process Chillers Market Regional Outlook and Competition Tracking

Asia Pacific & North America lead in terms of volume demand for global process chillers market. China & the U.S. hold the maximum market share for process chillers market. Europe region to witness moderate growth whereas Latin America to witness high growth in process chillers market owing to increasing industrial projects in the region.

The market for process chillers is consolidated with some of the leading players including Parkaire Engineering, Johnson controls, Trane, Legacy Chiller Systems, Inc, GEA, Drake Refrigeration, Inc., Filtrine Manufacturing Company, Thermonics Corporation, Blue Star, Koolant Koolers and ArctiChill.

This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on

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Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.

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