by Brianna Crandall — April 24, 2017 — As per the latest market research study by Technavio, the global heating, ventilation and air-conditioning (HVAC) chillers market is likely to grow at a compound annual growth rate (CAGR) of close to three percent during the period 2017 to 2021.
This report by Technavio delivers an exhaustive analysis of the global HVAC chillers market regarding revenue and emerging market trends. The report contains an up-to-date breakdown and forecasts for several market sections and all geographical regions.
Technavio research analysts categorize the market based on the product type, as expanded below.
Global HVAC chillers market by screw chillers segment
The screw compressors contain a pair of helical rotors, which are mounted on rolling element bearings and the pair of ball bearings and roller bearings are used on the drive side and non-drive side of the system.
The sound emission of these chillers is minimal, which is resulting in their popularity in the global market. Moreover, these systems have a low fear of refrigerant leak because of low vibration, and offer a high output for their reduced size. Such features of screw chillers are expected to augment the growth of these chillers in the global market.
Anju Ajaykumar, a lead analyst at Technavio for research on unit operations, explained:
These systems consist of a pair of rotor lobes that rotates into the other set of rotor flutes. The air is pulled in through the suction filter and trapped in the interlobar spaces and then compressed until the lobe-flutes reach the outlet port. This mechanism gives intensive cooling during the compression process, resulting in a higher demand for these products in the market.
Global HVAC chillers market by scroll chillers segment
The extensive use of scroll chillers for systems that require oil free and clean compressed air are expected to drive the growth of this market segment. These chillers are the cheapest in the market, and they also fit in multiple applications.
Scroll chillers have very high application in the transportation and hospital sector. The increasing commercialization is leading to the expansion of the tourism industry, which will result in increased transportation services and will have a positive impact on the scroll chillers market.
Global HVAC chillers market by centrifugal chillers segment
The vendors in the centrifugal chillers market segment are expanding their business to the Asia-Pacific (APAC) and Europe, Middle East and Africa (EMEA) regions by launching innovative products in the market.
Such development will propel the growth of this market segment during the forecast period. In 2015, a leading vendor, Mitsubishi, developed a new series of centrifugal chillers that have a low global warming potential in Japan.
The key retailers functional in the global HVAC chillers market are: Daikin Industries, Johnson Controls, Carrier and Ingersoll-Rand. Other prominent players in the market include BluChill, Danfoss, Drake Refrigeration, Hitachi Appliances, Kirloskar, LG Electronics, Mitsubishi Heavy Industries, Voltas, World Energy Absorption, and Yazaki Energy Systems.
For more detailed analysis, see the Technavio report, Global HVAC Chillers Market 2017-2021, available for purchase from the firm’s Web site. Technavio also customizes reports by other regions and specific segments upon request. A free sample of this report is available upon request, and an analyst is available for questions.