-- 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.
A rise in demand for chillers from various industry verticals such as food and beverages, petrochemicals, rubber, plastic, medical and others, which fuels the growth of APAC chillers market. The rise in government initiatives Make in India, and Eco-Niwas Samhita from India, which in turn, boost the demand for chillers, which drives the growth of the market.
Geographic Review
Country wise, the APAC chillers market analysis is conducted across China, India, Japan, Malaysia, Singapore, Vietnam, Indonesia, Thailand, Philippine, Myanmar, South Korea, Taiwan, and rest of Asia-Pacific. In 2019, China was the highest contributor to the APAC chiller market, and is anticipated to secure a leading position during the forecast period.
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Key Market Players
The key players profiled in the report include 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., and Trane Technologies Plc.
Key Findings
The report provides an extensive analysis of the current and emerging APAC chillers market trends and dynamics.
Based on type, the screw chiller segment was the largest revenue-generating segment in 2019.
On the basis of end-user, other segments generated the highest revenue, in 2019.
Country-wise, China country is anticipated to dominate the APAC chillers market throughout the study period.
The report provides an extensive analysis of the APAC chillers market trends and emerging opportunities of the market.
The APAC chillers market forecast analysis from 2020 to 2027 is included in the report.
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Contact Info:
Name: David Correa
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Organization: Allied Market Research
Address: 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States
Phone: 18007925285
Website: https://www.alliedmarketresearch.com
Release ID: 89033567
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