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Global Centrifugal Chillers Market: By Type: <500T, 500-1000T, 1000-2000T, >2000T; By Application: Commercial, Industrial, Others; Regional Analysis; Historical Market and Forecast (2018-2028); Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis, Key Indicators for Demand; Competitive Landscape; Industry Events and Developments

Global Centrifugal Chillers Market Outlook

The global centrifugal chillers market is expected to grow at a CAGR of 4.7% during the period 2023-2028. The market is expected to be driven by uses of centrifugal chillers in HVAC systems. North America, Europe, Middle East and Asia are expected to be key markets.

 

Global Market Likely to be Driven by Demand for Efficient and Environmentally Friendly Cooling Solutions

Centrifugal chillers have been quite prominent in the HVAC market for cooling capacities over 1000 kW. Larger centrifugal may even provide several thousand kW. Centrifugal chillers are not so commonly used below the 1000 kW cooling capacity. High-performance commercial HVAC systems use chillers to draw heat out of the air flowing in the interiors. While in some areas, water or air alone suffice to take away excess heat, majority of HVAC systems rely on some kind of compressor to get a heat-absorbing refrigerant moving around a coil. A centrifugal chiller employs vapour compression cycle to chill water; it sheds off the heat gathered from the chilled water and the heat from the compressor to a water loop. The water loop is kept cool with the help of a cooling tower. Centrifugal chillers are easy to maintain, have fewer moving parts, and durable. Centrifugal chillers also offer high cooling capacity with a smaller footprint. Due to these qualities, centrifugal chillers are quite popular.

Centrifugal chillers provide chilled water for all such applications that require cooling capacity on a high scale; these are a cost-effective solution to cool large buildings because while centrifugal chillers could be a significant investment, these generally come with customizable configuration and almost guarantee ROI throughout their lifecycle.

 

Global Centrifugal Chillers Market Likely to be Driven by Uses in Hotels, Commercial Buildings, Industrial Plants, University Campuses, Airports and Hospitals.

Centrifugal chillers are used for indoor installation, or for weather protected spaces. Centrifugal chillers are widely used in North America as  the building stock in that region comprises large buildings for a good portion; Europe and Middle East are also significant markets where centrifugal chillers are mainly used for hotels, commercial buildings, industrial plants, university campuses, airports and hospitals.

 

Solutions Offering Greater Efficiency and Smaller Footprint Expected to Boost Market Growth

The key aspects influencing choice of a centrifugal chiller include efficiency and footprint. Centrifugal chillers can offer high capacity with very good energy-efficiency performances, for example, Daikin centrifugal chillers fitted with VFD can offer COP > 6 full load and IPLV > 10), particularly at full load, leading to low running costs for the end user.

Blue Star offers expert cooling solutions including a wide range of scroll, screw and centrifugal chillers. The company offers a broad range of water cooled centrifugal flooded chillers with highly efficient semi-hermetic compressors and environmentally-friendly R134a refrigerant. These solutions are reliable and highly energy efficient. The chillers produced are suited to large projects such as IT campuses, star hotels, hospitals, industries, etc.

MHI Group offers an efficient centrifugal chiller which acts as a good solution for energy saving and environmental protection; it also helps reduce businesses costs. Centrifugal chillers offered by the company supply chilled water and maintain constant temperature in semiconductor, automotive, and chemicals manufacturing plants, and hotels, food suppliers, hospitals, and sports facilities.

Hitachi High Efficiency Inverter-controlled Centrifugal Chillers realize energy-saving operation through the whole year using variable motor speed control with inverter unit, significantly enhancing partial load efficiency under low cooling water temperature conditions in off-peak seasons. The chillers also offer several unique energy saving functions that meet the demand to minimize energy consumption. Hitachi High Efficiency Centrifugal Chiller offers enhanced energy-saving and helps prevent global warming with the help of advanced technologies that optimize the design of compressors and heat-exchangers.

Daikin offers single compressor centrifugal chillers (from 300 to 1800 tons); solutions offer better full and part-load performance for increased energy savings and a good life cycle return on investment. Employing ozone-friendly HFC-134a refrigerant, Daikin chillers readily integrate with building automation systems, are seismic compliant, quiet, and have a broad operating range to enable operation at different lift conditions.

 

Global Centrifugal Chillers Market Segmentation

By type, the market is segmented into:

  • <500T
  • 500-1000T
  • 1000-2000T
  • >2000T

By application, the market is divided into:

  • Commercial
  • Industrial
  • Others

By region, the market is classified into:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

 

Key Industry Players in the Global Centrifugal Chillers Market

The report presents a detailed analysis of the following key players in the market, looking into their capacity, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Johnson Controls International plc
  • Carrier Global Corporation
  • Daikin Industries Ltd
  • Haier Group
  • Trane Technologies Company, LLC
  • Others

The EMR report gives an in-depth insight into the industry by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

Key Highlights of the Report

REPORT FEATURES DETAILS
Base Year 2022
Historical Period 2018-2022
Forecast Period 2023-2028
Scope of the Report

Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:

  • Type
  • Application
  • Region
Breakup by Type
  • <500T
  • 500-1000T
  • 1000-2000T
  • >2000T
Breakup by Application
  • Commercial
  • Industrial
  • Others
Breakup by Region
  • North America
    • United States of America 
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Others
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Australia
    • Others
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • United Arab Emirates
    • Nigeria
    • South Africa
    • Others
Market Dynamics
  • SWOT
  • Porter's Five Forces
  • Key Indicators for Demand
  • Key Indicators for Price
Competitive Landscape
  • Market Structure
  • Company Profiles
    • Company Overview
    • Product Portfolio
    • Demographic Reach and Achievements
    • Certifications
Companies Covered
  • Johnson Controls International plc
  • Carrier Global Corporation
  • Daikin Industries Ltd
  • Haier Group
  • Trane Technologies Company, LLC
  • Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.

1    Preface    
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Market Snapshot
    6.1    Global
    6.2    Regional
7    Opportunities and Challenges in the Market
8    Global Centrifugal Chillers Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Centrifugal Chillers Historical Market (2018-2022) 
    8.3    Global Centrifugal Chillers Market Forecast (2023-2028)
    8.4    Global Centrifugal Chillers Market by Type 
        8.4.1    <500T
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2018-2022)
            8.4.1.3    Forecast Trend (2023-2028)
        8.4.2    500-1000T
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2018-2022)
            8.4.2.3    Forecast Trend (2023-2028)
        8.4.3    1000-2000T
            8.4.3.1    Market Share
            8.4.3.2    Historical Trend (2018-2022)
            8.4.3.3    Forecast Trend (2023-2028)
        8.4.4    >2000T
            8.4.4.1    Market Share
            8.4.4.2    Historical Trend (2018-2022)
            8.4.4.3    Forecast Trend (2023-2028)
    8.5    Global Centrifugal Chillers Market by Application
        8.5.1    Commercial
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2018-2022)
            8.5.1.3    Forecast Trend (2023-2028)
        8.5.2    Industrial
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2018-2022)
            8.5.2.3    Forecast Trend (2023-2028)
        8.5.3    Others    
    8.6    Global Centrifugal Chillers Market by Region
        8.6.1    North America
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2018-2022) 
            8.6.1.3    Forecast Trend (2023-2028)
        8.6.2    Europe
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2018-2022) 
            8.6.2.3    Forecast Trend (2023-2028)
        8.6.3    Asia Pacific
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2018-2022) 
            8.6.3.3    Forecast Trend (2023-2028)
        8.6.4    Latin America
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2018-2022) 
            8.6.4.3    Forecast Trend (2023-2028)
        8.6.5    Middle East and Africa
            8.6.5.1    Market Share
            8.6.5.2    Historical Trend (2018-2022) 
            8.6.5.3    Forecast Trend (2023-2028)
9    North America Centrifugal Chillers Market Analysis
    9.1    United States of America 
        9.1.1    Market Share
        9.1.2    Historical Trend (2018-2022) 
        9.1.3    Forecast Trend (2023-2028)
    9.2    Canada
        9.2.1    Market Share
        9.2.2    Historical Trend (2018-2022) 
        9.2.3    Forecast Trend (2023-2028)
10    Europe Centrifugal Chillers Market Analysis
    10.1    United Kingdom
        10.1.1    Market Share
        10.1.2    Historical Trend (2018-2022) 
        10.1.3    Forecast Trend (2023-2028)
    10.2    Germany
        10.2.1    Market Share
        10.2.2    Historical Trend (2018-2022) 
        10.2.3    Forecast Trend (2023-2028)
    10.3    France
        10.3.1    Market Share
        10.3.2    Historical Trend (2018-2022) 
        10.3.3    Forecast Trend (2023-2028)
    10.4    Italy
        10.4.1    Market Share
        10.4.2    Historical Trend (2018-2022) 
        10.4.3    Forecast Trend (2023-2028)
    10.5    Others
11    Asia Pacific Centrifugal Chillers Market Analysis
    11.1    China
        11.1.1    Market Share
        11.1.2    Historical Trend (2018-2022) 
        11.1.3    Forecast Trend (2023-2028)
    11.2    Japan
        11.2.1    Market Share
        11.2.2    Historical Trend (2018-2022) 
        11.2.3    Forecast Trend (2023-2028)
    11.3    India
        11.3.1    Market Share
        11.3.2    Historical Trend (2018-2022) 
        11.3.3    Forecast Trend (2023-2028)
    11.4    ASEAN
        11.4.1    Market Share
        11.4.2    Historical Trend (2018-2022) 
        11.4.3    Forecast Trend (2023-2028)
    11.5    Australia
        11.5.1    Market Share
        11.5.2    Historical Trend (2018-2022) 
        11.5.3    Forecast Trend (2023-2028)
    11.6    Others
12    Latin America Centrifugal Chillers Market Analysis
    12.1    Brazil
        12.1.1    Market Share
        12.1.2    Historical Trend (2018-2022) 
        12.1.3    Forecast Trend (2023-2028)
    12.2    Argentina
        12.2.1    Market Share
        12.2.2    Historical Trend (2018-2022) 
        12.2.3    Forecast Trend (2023-2028)
    12.3    Mexico
        12.3.1    Market Share
        12.3.2    Historical Trend (2018-2022) 
        12.3.3    Forecast Trend (2023-2028)
    12.4    Others
13    Middle East and Africa Centrifugal Chillers Market Analysis
    13.1    Saudi Arabia
        13.1.1    Market Share
        13.1.2    Historical Trend (2018-2022) 
        13.1.3    Forecast Trend (2023-2028)
    13.2    United Arab Emirates
        13.2.1    Market Share
        13.2.2    Historical Trend (2018-2022) 
        13.2.3    Forecast Trend (2023-2028)
    13.3    Nigeria
        13.3.1    Market Share
        13.3.2    Historical Trend (2018-2022) 
        13.3.3    Forecast Trend (2023-2028)
    13.4    South Africa
        13.4.1    Market Share
        13.4.2    Historical Trend (2018-2022) 
        13.4.3    Forecast Trend (2023-2028)
    13.5    Others
14    Market Dynamics
    14.1    SWOT Analysis
        14.1.1    Strengths
        14.1.2    Weaknesses
        14.1.3    Opportunities
        14.1.4    Threats
    14.2    Porter’s Five Forces Analysis
        14.2.1    Supplier’s Power
        14.2.2    Buyer’s Power
        14.2.3    Threat of New Entrants
        14.2.4    Degree of Rivalry
        14.2.5    Threat of Substitutes
    14.3    Key Indicators for Demand
    14.4    Key Indicators for Price
15    Value Chain Analysis
16    Competitive Landscape

    16.1    Market Structure
    16.2    Company Profiles
        16.2.1    Johnson Controls International plc
            16.2.1.1    Company Overview
            16.2.1.2    Product Portfolio
            16.2.1.3    Demographic Reach and Achievements
            16.2.1.4    Certifications
        16.2.2    Carrier Global Corporation
            16.2.2.1    Company Overview
            16.2.2.2    Product Portfolio
            16.2.2.3    Demographic Reach and Achievements
            16.2.2.4    Certifications
        16.2.3    Daikin Industries Ltd
            16.2.3.1    Company Overview
            16.2.3.2    Product Portfolio
            16.2.3.3    Demographic Reach and Achievements
            16.2.3.4    Certifications
        16.2.4    Haier Group
            16.2.4.1    Company Overview
            16.2.4.2    Product Portfolio
            16.2.4.3    Demographic Reach and Achievements
            16.2.4.4    Certifications
        16.2.5    Trane Technologies Company, LLC
            16.2.5.1    Company Overview
            16.2.5.2    Product Portfolio
            16.2.5.3    Demographic Reach and Achievements
            16.2.5.4    Certifications
        16.2.6    Others
17    Key Trends and Developments in the Market

 

List of Key Figures and Tables

1.    Global Centrifugal Chillers Market: Key Industry Highlights, 2018 and 2028
2.    Global Centrifugal Chillers Historical Market: Breakup by Type (USD Million), 2018-2022
3.    Global Centrifugal Chillers Market Forecast: Breakup by Type (USD Million), 2023-2028
4.    Global Centrifugal Chillers Historical Market: Breakup by Application (USD Million), 2018-2022
5.    Global Centrifugal Chillers Market Forecast: Breakup by Application (USD Million), 2023-2028
6.    Global Centrifugal Chillers Historical Market: Breakup by Region (USD Million), 2018-2022
7.    Global Centrifugal Chillers Market Forecast: Breakup by Region (USD Million), 2023-2028
8.    North America Centrifugal Chillers Historical Market: Breakup by Country (USD Million), 2018-2022
9.    North America Centrifugal Chillers Market Forecast: Breakup by Country (USD Million), 2023-2028
10.    Europe Centrifugal Chillers Historical Market: Breakup by Country (USD Million), 2018-2022
11.    Europe Centrifugal Chillers Market Forecast: Breakup by Country (USD Million), 2023-2028
12.    Asia Pacific Centrifugal Chillers Historical Market: Breakup by Country (USD Million), 2018-2022
13.    Asia Pacific Centrifugal Chillers Market Forecast: Breakup by Country (USD Million), 2023-2028
14.    Latin America Centrifugal Chillers Historical Market: Breakup by Country (USD Million), 2018-2022
15.    Latin America Centrifugal Chillers Market Forecast: Breakup by Country (USD Million), 2023-2028
16.    Middle East and Africa Centrifugal Chillers Historical Market: Breakup by Country (USD Million), 2018-2022
17.    Middle East and Africa Centrifugal Chillers Market Forecast: Breakup by Country (USD Million), 2023-2028
18.    Global Centrifugal Chillers Market Structure     

Key Questions Answered in the Report

The global centrifugal chillers market is projected to grow at a CAGR of 4.7% between 2023 and 2028.

The major drivers of the market include urbanisation, increasing investments in research and development, and increasing manufacturing facilities.

The uses of centrifugal chillers in HVAC systems and environment-friendly cooling solutions are the key industry trends propelling the market's growth.

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

Based on type, the market is divided into <500T, 500-1000T, 1000-2000T, and >2000T.

The significant applications are commercial and industrial, among others.

The major players in the industry are Johnson Controls International plc, Carrier Global Corporation, Daikin Industries Ltd, Haier Group, and Trane Technologies Company, LLC, among others.

Analyst Review

The global centrifugal chillers market was driven by the uses of centrifugal chillers in HVAC systems in the historical period. Aided by the urbanisation and environmentally friendly cooling solutions, the market is expected to witness further growth in the forecast period of 2023-2028, growing at a CAGR of 4.7%.

EMR's meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on type, the market is divided into <500T, 500-1000T, 1000-2000T, and >2000T. The significant applications are commercial and industrial, among others. The major regional markets for centrifugal chillers are North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa. The major players in the industry are Johnson Controls International plc, Carrier Global Corporation, Daikin Industries Ltd, Haier Group, and Trane Technologies Company, LLC, among others.

EMR's research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable and help them remain ahead of their competition.

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