- A chiller machine eliminates heat from a liquid through vapor compression or absorption refrigeration cycles. Chiller machines use different types of compressors such as semi hermetic screw, centrifugal compressors, and hermetic scroll. Screw chillers are used as cooling solutions for industrial processes as well as for air conditioning systems. Chillers with screw compressor are those refrigeration devices which are used to cool raw materials, fluid streams, and food & beverages.
Key Drivers of the Global Screw Chillers Market
- Increasing demand for process cooling in industrial applications is one of the factors that leads to increasing adoption of screw chillers due to their quiet operation, compact size, minimal maintenance cost, and high energy efficiency. They are also ideal for high-rise buildings. Additionally, increasing adoption of screw chillers in commercial refrigeration, expanding usage of outward data sources, and rapid adoption of advanced analytics and visualization are factors which contribute to the growth of the chillers market globally and subsequently the demand for screw chillers is also rising.
Factor Restraining the Global Screw Chillers Market
- High initial cost of system installation is a factor that may restrict the growth of the screw chillers market.
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Market in Asia Pacific to Expand Rapidly
- In terms of geography, the global screw chillers market can be divided into five regions: North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA)
- North America country-level analysis features the U.S., Canada, and Rest of North America. Analysis and forecast of the screw chillers market in Europe includes markets across the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa includes the screw chillers market analysis and forecast of GCC countries, South Africa, and Rest of Middle East & Africa. The South America screw chillers market is segmented into Brazil, and Rest of South America.
- North America accounted for largest share of the global screw chillers market due to increasing new product developments and related activities in the region. Growing industries such as chemicals and petrochemicals, and medical stores with rising demand for chillers is contributing to the growth of the screw chillers market in the region.
- The screw chillers market in Asia Pacific is projected to expand rapidly during the forecast period due to the presence of major end-use industries in emerging economies such as India, China, Japan, South Africa, South Korea, and Brazil. Electronic appliances, chemical plants, automobile industry, printing plants, transportation, and beverage industry are some of the major industries growing rapidly in the Asia Pacific region and expected to drive the screw chillers market in the region.
Key Players Operating in the Global Market
Companies in the screw chillers market are focusing on becoming more proficient and developing innovative product features which will enhance their competitive advantage and their market share globally. Manufacturers are adopting advanced technologies and aiming toward providing efficient chillers at lower cost that helps to propel the global sale of screw chillers.
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A few of the key players operating in the global screw chillers market are:
- Johnson Controls
- McQuay Air-conditioning Ltd.
- LG Electronics
- Dunham Bush
- Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A.
- Haier Group