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PORTLAND, OR, UNITED STATES, January 23, 2022 /EINPresswire.com/ -- APAC chillers market has witnessed significant growth over the past decade, owing to growing commercial construction sector, and increase in demand for chillers in medical industry drives the growth of the market. In addition, increase in demand for chillers in frozen goods, is anticipated to drive the growth of APAC chillers market.

According to a new report published by Allied Market Research, titled, “APAC Chillers Market by Type, and End User: Regional Opportunity Analysis and Industry Forecast, 2020–2027,” The APAC chillers market size was valued at $5.4 billion in 2019 and is expected to reach $7.4 billion by 2027, growing at a CAGR of 5.4% from 2020 to 2027. In 2019, screw chillers dominated the market accounting for over one-thirds of the APAC chillers market share.

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An increase demand for compact, energy efficient, and small heating, ventilation, and air conditioning systems to control room atmosphere is anticipated to stimulate the growth of the chiller industry. In addition, increase in construction spending in emerging countries such as India, China, Brazil, and others is anticipated to fuel the growth of the chiller market. For instance, Thailand government planned to spend $40.

billion on 20 large infrastructure project by 2022. In addition, chillers are best suitable for automotive, die casting, food & beverages, plastics, and others. A rise in demand for chillers in APAC countries such as India, China, and others, owing to growth in construction activities is expected to lead to the growth of the APAC chillers market. An increase in tourism sector has led to rise in demand for commercial buildings such as hotels and public buildings. This in turn is estimated to fuel the APAC chillers market growth. For instance, tourism industry in Japan is expected to grow by over 10% from 2020 to 2030.

However, one of the major restraints for APAC chillers market is high initial capital investment and setup cost. Chillers require around 150% to 200% of the cost to install similar tonnage of water-cooled standard chiller. In addition, fluctuation in raw material prices is anticipated to hampers the growth of the market. Conversely, technological innovation in the chillers is predicted to offer lucrative opportunities for the APAC chillers market development.

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Key Market Players

Carrier Global Corporation
Mitsubishi Electric Corporation
Daikin Industries Ltd
Dimplex Thermal Solutions
LG Electronics
Johnson Controls International Plc
Gree Electric Appliances Inc of Zhuhai
Midea Group Co. Ltd
Thermax Ltd
Trane Technologies Plc

Key Benefits For Stakeholders

The report provides an extensive analysis of the current and emerging APAC chillers market trends and dynamics.

An in-depth market analysis is conducted by APAC chillers market estimations for the key market segments between 2019 and 2027.

Extensive analysis of is conducted by following key product positioning and monitoring of the top competitors within the market framework.

A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.

The APAC chillers market forecast analysis from 2020 to 2027 is included in the report.

The key market players within the APAC chillers market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the market.

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About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

David Correa
Allied Analytics LLP
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