チラー市場 – 2029年までの世界予測

Chillers Market - Global Forecast To 2029

チラー市場 - タイプ (スクリュー、スクロール、遠心力、吸収、往復)、媒体 (空冷、水冷、液体冷却剤)、容量、最終用途産業 (プラスチック、FnB、化学および石油化学、医療および医薬品) - 2029年までの世界予測
Chillers Market by Type (Screw, Scroll, Centrifugal, Absorption, Reciprocating), Medium (Air Cooled, Water Cooled, Liquid Coolant), Capacity, End-Use Industry (Plastic, FnB, Chemical & Petrochemical, Medical and Pharmaceuticals) - Global Forecast to 2029

商品番号 : SMB-8248

出版社MarketsandMarkets
出版年月2024年12月
ページ数293
図表数329
価格タイプシングルユーザライセンス
価格USD 4,950
種別英文調査報告書

Report Overview

The chillers market is projected to reach USD 15.42 billion by 2029, at a CAGR of 5.0% from USD 12.08 billion in 2024.

チラー市場は、2024 年の 120 億 8000 万米ドルから 5.0% の CAGR で、2029 年までに 154 億 2000 万米ドルに達すると予測されています。

The market for chillers is propelled by the growing industrialization, urbanization along with immediate need of efficient energy usage systems. An upsurge in construction activities worldwide, especially in the developing world, is increasing the use of chillers for managing indoor environmental quality in business buildings and houses. Growing concerns towards energy efficiency have motivated the advances including green refrigerants and enhanced compressors. Business sectors that require temperature control use chillers, including pharmaceutical, food & beverages ,and data centers. Moreover, climate change, government regulations for energy efficacious, and enhancement of intelligent infrastructure investments across Asia-Pacific and Middle East, as well as IoT-era smart cooling technologies are creating demand for this system.

チラー市場 - 2029年までの世界予測
chiller-market

“Based on medium, air-cooled accounted to be the second largest market during the forecast period, in terms of value.”

Air-cooled chillers are the second-largest segment in the chillers market, because of their multiple application, low cost and simply installation. Although compared to water-cooled chillers, they do not need a cooling tower and complex water circulation systems, they are particularly suitable for places where water availability is restricted or water rationing is practiced. These are popular with industries and commercial facilities that require efficient and low cost cooling systems with little demand for maintenance. These chillers can especially be used in climates that are moderate and do not need extra equipment to support chillers. Technological enhancements of air-cooled chillers due to higher regards to energy and sustainability include variation in compressor speed, use of environment-friendly refrigerants, and enhanced control systems that enhance the use of air-cooled chillers. Demand for air-cooled chillers is mainly driven by data centers, healthcare, manufacturing industries where the control of temperature is very important. Moreover, expansion in the intra-urban infrastructure and mainly the accession of advanced developing countries to industrialization have made them popular in business and residential complexes. Trends such as government’s push for the enhancement of energy-efficient cooling systems and a rising infrastructure expenditure also have a positive impact on the market for chillers cementing the second biggest segment in the chillers market.

“Based on type, scroll chillers projected second largest market during the forecast period, in terms of value.”

Scroll chillers comprise the second largest market segment in chillers due to their high efficiency, compactness and versatility of operation. Such chillers incorporate scroll compressor which are reputed to have very high reliability and operational efficiency with low maintenance requirements. Owing to its design, the company’s products are easy to install due to their small size and weight and are suitable for small to mid-sized commercial and industrial applications such as business offices, shops and small scale manufacturing factories. Moreover, the noise level of scroll chillers is low, thus recommendable for installations that cause excessive noise. Another factor that has lead to their use is energy efficiency. Some common technologies of scroll chillers are variable-speed drives, by which the operating costs are decreased according to requirements. Because of this, their size is flexible which means users can simply add more of them as demand for cooling increases. Also, the raise in concern with sustainable chemical and ecological aspects to reduce green effects of refrigerants has stimulated the growth of scroll chillers as many of them conform to other regulatory measures concerning environmental protection. They are cheap to acquire and offer users notably excellent performance due to their positioning in price- performance matrix.

“Based on capacity, 300-700 kW is the fastest growing market during the forecast period, in terms of value.”

The market growth in chillers is witnessed most in the segment of 300-700 kW due to their efficiency, adaptability, and suitability for mid-sized applications. The applications of this chillers include commercial buildings, hospitals, hotels, and industries, which typically require a moderate cooling capacity. Increasing urbanization brings in more and more smart city developments along with mixed-use projects, increasing the demand for compact and efficient cooling solutions. The 300-700 kW chillers serve this purpose by providing a balance between performance and space optimization. Energy efficiency regulations and sustainability goals also contribute to the growth of this segment. This type of chiller generally comprises advanced technologies like variable speed drives and intelligent controls to minimize energy consumption and running cost. They also offer suitability towards renewable sources and environmentally friendly refrigerants as well as conform to world trends of sustainability. Urbanization further drives up demand for district cooling systems, which these chillers easily fit into. Their ability to scale up makes them popular choices for expansion of facilities. Ability to meet varied cooling needs under high energy standards makes 300-700 kW chillers an essential part of the evolution of the HVAC market, propelling it rapidly across the globe.

“Based on end-use industry, food & beverages is the fastest growing market during the forecast period, in terms of value.”

The food & beverages industry projected fastest growth-inducing segment in the chillers market since they highly need to use the products under temperature control to ascertain safety, shelf life, and the quality of the product. Chilling is a very integral part of food & beverages productions. It is used as cooling during manufacturing, storing, and transporting. Increasing consumer demand for processed, frozen, and ready-to-eat foods in urban regions is raising the usage of high-tech chilling technologies. Also, regulatory standards for food safety and hygiene are very stringent; manufacturers want to invest in efficient and reliable cooling systems. Expansion of the cold chain logistics sector across the globe is increasing the demand for chillers. The export of perishable items such as dairy, meat, and seafood by food producers has made the control of precise temperature critical. In addition, growing demand for craft beverages and premium products, such as specialty wines and beers, mandates customized chilling solutions to ensure taste and quality. Asian-Pacific and Latin America’s emerging markets, which are rapidly urbanizing and witnessing changes in diet, have been major contributors to growth. The innovation of energy-efficient and eco-friendly chillers is in tune with the industry’s objective of cost-effective operation and less environmental impact, thus making this product more readily adopted within the food & beverages industry.

“Based on region, Asia Pacific is the fastest-growing region in the chillers market in 2023, in terms of value.”

Asia-Pacific region is one of the fastest-growing for chillers market because of accelerated urbanization, industrialization and economic growth in the major countries. It comprises China, India, Japan, and other southeast Asian nations. The strong growth in the construction industries for the residential, commercial, and industrial sectors also boosts demand for chillers in HVAC systems. Processes requiring cooling also saw an upward surge as countries like China and India increased the setting up of their manufacturing bases. The other most important driver in the increasing demand for process cooling involves the growth in the food and beverages industry, stimulated by altered consumer preferences and heightened disposable incomes as well as developments in the cold chain logistic segment. Additionally, the Asia-Pacific region contains some of the world’s fastest-growing economies, which are spending heavily on infrastructure development such as airports, malls, and data centers, where chillers are necessary to keep the environment controlled. Other initiatives of the government concerning energy efficiency and the uptake of eco-friendly technologies create additional demand for advanced chillers. Advancements in green cooling technologies and a dominant presence of key players across Asia-Pacific continue to ensure it remains an exciting, growth-oriented market for chillers.

チラー市場 - 2029年までの世界予測 region
chiller-market-region

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the chillers market, and information was gathered from secondary research to determine and verify the market size of several segments:

  • By Company Type: Tier 1 – 40%, Tier 2 – 30%, and Tier 3 – 30%
  • By Designation: Directors– 20%, Managers – 10%, and Others – 70%
  • By Region: North America – 22%, Europe – 22%, APAC – 45% and RoW- 11%

The key players in this market are DAIKIN INDUSTRIES, Ltd. (Japan), Trane Technologies plc (Ireland), Carrier (US), Johnson Controls Inc. (Ireland), Mitsubishi Electric Corporation (Japan), Smardt Chiller Group, Inc. (Canada), Drake Refrigeration Inc. (US), PolyScience (US), LG Electronics (South Korea), Dimplex Thermal Solutions (US), and Thermax Limited (India).

チラー市場 - 2029年までの世界予測 ecosystem
chiller-market-ecosystem

Research Coverage

This report segments the chillers market based on medium, chilling medium, type, capacity, end-use industry, and region, and provides estimations for the overall value of the market across various regions. A detailed analysis of key industry players has been conducted to provide insights into their business overviews, products and services, key strategies, new product launches, expansions, and mergers and acquisitions associated with the chillers market.

Key benefits of buying this report

This research report focuses on various levels of analysis, including industry analysis (industry trends), market ranking analysis of top players, and company profiles, which together provide an overall view of the competitive landscape, emerging and high-growth segments of the chillers market, high-growth regions, and market drivers, restraints, opportunities, and challenges.

The report provides insights on the following pointers:

  • Analysis of key drivers (Growing demand for process cooling in food and healthcare applications, Technological advancements in chillers, Increasing infrastructure development), restraints (High initial capital investment, Complexity of system installation and maintenance), opportunities (Emerging opportunities for manufacturers to produce eco-friendly chillers, Growing demand for energy-efficient and sustainable cooling solutions) and challenges (Regulations pertaining to fluorinated greenhouse gases, High energy consumption).
  • Market Penetration: Comprehensive information on the chillers market offered by top players in the global chillers market.
  • Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product launches in the chillers market.
  • Market Development: Comprehensive information about lucrative emerging markets — the report analyzes the markets for chillers market across regions.
  • Market Diversification: Exhaustive information about new products, untapped regions, and recent developments in the global chillers market
  • Competitive Assessment: In-depth assessment of market shares, strategies, products, and manufacturing capabilities of leading players in the chillers market

Table of Contents

1               INTRODUCTION              24

1.1           STUDY OBJECTIVES       24

1.2           MARKET DEFINITION   24

1.3           STUDY SCOPE   25

1.3.1        MARKET SEGMENTATION AND REGIONAL SPREAD                 25

1.3.2        INCLUSIONS & EXCLUSIONS       25

1.3.3        YEARS CONSIDERED      26

1.4           CURRENCY CONSIDERED            27

1.5           UNITS CONSIDERED      27

1.6           STAKEHOLDERS               27

1.7           SUMMARY OF CHANGES               27

2               RESEARCH METHODOLOGY       28

2.1           RESEARCH DATA              28

2.1.1        SECONDARY DATA          29

2.1.1.1    Key data from secondary sources       29

2.1.2        PRIMARY DATA 29

2.1.2.1    Key data from primary sources           30

2.1.2.2    Key primary participants     30

2.1.2.3    Key industry insights           30

2.1.2.4    Breakdown of interviews with experts               31

2.2           MARKET SIZE ESTIMATION         31

2.2.1        BOTTOM-UP APPROACH              32

2.2.2        TOP-DOWN APPROACH                32

2.3           GROWTH FORECAST      33

2.4           DATA TRIANGULATION                34

2.5           FACTOR ANALYSIS          35

2.6           RESEARCH ASSUMPTIONS           35

2.7           LIMITATIONS & RISKS   36

3               EXECUTIVE SUMMARY  37

4               PREMIUM INSIGHTS       41

4.1           ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN CHILLERS MARKET         41

4.2           CHILLERS MARKET, BY MEDIUM               41

4.3           CHILLERS MARKET, BY TYPE      42

4.4           CHILLERS MARKET, BY END-USE INDUSTRY       42

4.5           CHILLERS MARKET, BY KEY COUNTRY  43

5               MARKET OVERVIEW       44

5.1           INTRODUCTION              44

5.2           MARKET DYNAMICS       44

5.2.1        DRIVERS               45

5.2.1.1    Growing demand for process cooling in food and healthcare applications           45

5.2.1.2    Technological advancements in chillers            45

5.2.1.3    Surge in infrastructure development 46

5.2.2        RESTRAINTS      46

5.2.2.1    High initial capital investment            46

5.2.2.2    Complexity of system installation and maintenance       47

5.2.3        OPPORTUNITIES              47

5.2.3.1    Emerging opportunities for manufacturers to produce eco-friendly chillers     47

5.2.3.2    Growing demand for energy-efficient and sustainable cooling solutions 47

5.2.4        CHALLENGES    48

5.2.4.1    Regulations pertaining to fluorinated greenhouse gases                 48

5.2.4.2    High energy consumption   49

5.3           PORTER’S FIVE FORCES ANALYSIS           50

5.3.1        THREAT OF NEW ENTRANTS      51

5.3.2        THREAT OF SUBSTITUTES          51

5.3.3        BARGAINING POWER OF SUPPLIERS       51

5.3.4        BARGAINING POWER OF BUYERS             51

5.3.5        INTENSITY OF COMPETITIVE RIVALRY 52

5.4           KEY STAKEHOLDERS AND BUYING CRITERIA     52

5.4.1        KEY STAKEHOLDERS IN BUYING PROCESS           52

5.4.2        BUYING CRITERIA           53

5.5           MACROECONOMIC INDICATORS              53

5.5.1        GLOBAL GDP TRENDS  53

6               INDUSTRY TRENDS         56

6.1           INTRODUCTION              56

6.2           VALUE CHAIN ANALYSIS               56

6.3           REGULATORY LANDSCAPE         57

6.3.1        REGULATIONS  57

6.3.1.1    North America      57

6.3.1.2    Europe   58

6.3.1.3    Asia Pacific            58

6.3.2        STANDARDS      59

6.3.2.1    Indian Seasonal Energy Efficiency Ratio (ISEER)          59

6.3.2.2    ASHRAE Standard 90.1      59

6.3.2.3    Air-conditioning, Heating, and Refrigeration Institute (ARI)                 59

6.3.3        REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS             60

6.4           TRADE ANALYSIS             62

6.4.1        IMPORT SCENARIO (HS CODE 841869)    62

6.4.2        EXPORT SCENARIO (HS CODE 841869)    63

6.5           ECOSYSTEM ANALYSIS  63

6.6           TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS            65

6.7           CASE STUDY ANALYSIS 65

6.7.1        DAIKIN PROVIDED MAGNITUDE MAGNETIC-BEARING CENTRIFUGAL CHILLER TO LUMINIS HEALTH DOCTORS COMMUNITY MEDICAL CENTER               65

6.7.2        TRANE TECHNOLOGIES PROVIDED CHILLERS TO JEPTHA CREED DISTILLERY        66

6.7.3        CARRIER DEVELOPED AQUAFORCE 30 XWV WATER-COOLED CHILLERS WITH GREENSPEED INTELLIGENCE                 66

6.8           TECHNOLOGY ANALYSIS             67

6.8.1        KEY TECHNOLOGIES     67

6.8.1.1    Variable speed drives           67

6.8.1.2    Smart controls and automation          67

6.8.2        COMPLEMENTARY TECHNOLOGIES       68

6.8.2.1    Variable refrigerant flow     68

6.8.2.2    Natural refrigerants              68

6.9           KEY CONFERENCES AND EVENTS, 2024–2025        69

6.10         PATENT ANALYSIS          70

6.10.1      METHODOLOGY              70

6.10.2      DOCUMENT TYPES         70

6.10.3      PUBLICATION TRENDS IN LAST 10 YEARS            71

6.10.4      INSIGHTS            71

6.10.5      LEGAL STATUS OF PATENTS      71

6.10.6      JURISDICTION ANALYSIS              72

6.10.7      TOP APPLICANTS            72

6.11         IMPACT OF AI/GEN AI ON CHILLERS MARKET   73

6.12         INVESTMENT AND FUNDING SCENARIO               73

6.13         PRICING ANALYSIS          74

6.13.1      AVERAGE SELLING PRICE TREND, BY REGION, 2020-2023                 74

6.13.2      AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY MEDIUM, 2020-2023          75

7               CHILLERS MARKET, BY CHILLING MEDIUM         76

7.1           INTRODUCTION              76

7.2           FLUOROCARBON             76

7.2.1        CHLOROFLUOROCARBON           76

7.2.2        HYDROFLUOROCARBON              77

7.3           INORGANIC COMPOUNDS           77

7.4           AMMONIA           77

7.5           FREON  78

8               CHILLERS MARKET, BY MEDIUM               79

8.1           INTRODUCTION              80

8.2           AIR-COOLED CHILLERS                 81

8.2.1        EFFECTIVELY CONTROL TEMPERATURE IN DIVERSE ENVIRONMENT 81

8.3           WATER-COOLED CHILLERS        82

8.3.1        SUPERIOR ENERGY EFFICIENCY AND CAPACITY TO MANAGE COOLING LOADS         82

8.4           LIQUID COOLANT CHILLERS     82

8.4.1        PROTECT SENSITIVE EQUIPMENT FROM THERMAL DAMAGE              82

9               CHILLERS MARKET, BY CAPACITY            83

9.1           INTRODUCTION              84

9.2           BELOW 300 KW 85

9.2.1        OPERATES EFFICIENTLY AND REDUCES OVERALL ENERGY CONSUMPTION              85

9.3           300–700 KW          86

9.3.1        ROBUST DESIGN AND COST-EFFECTIVE SOLUTION                 86

9.4           701–1,500 KW      86

9.4.1        USED IN LARGE COMMERCIAL BUILDINGS AND ENSURES COMFORTABLE INDOOR COOLING    86

9.5           ABOVE 1,500 KW                86

9.5.1        USED FOR CRITICAL COOLING IN LARGE-SCALE INDUSTRIAL AND COMMERCIAL APPLICATIONS              86

10            CHILLERS MARKET, BY TYPE      87

10.1         INTRODUCTION              88

10.2         SCROLL CHILLERS           92

10.2.1      COMPACT DESIGN AND LOW NOISE LEVELS      92

10.3         SCREW CHILLERS             93

10.3.1      HIGH EFFICIENCY AND CAPABILITY TO HANDLE LARGE COOLING LOADS             93

10.4         CENTRIFUGAL CHILLERS             94

10.4.1      HIGH COEFFICIENT OF PERFORMANCE AND EFFICIENCY IN HANDLING SUBSTANTIAL COOLING LOADS                 94

10.5         RECIPROCATING CHILLERS        94

10.5.1      WIDELY USED FOR PROCESS COOLING IN SMALL AND MEDIUM CAPACITIES    94

10.6         ABSORPTION CHILLERS                95

10.6.1      WIDELY PREFERRED IN SOLAR OR GEOTHERMAL ENERGY SYSTEMS            95

11            CHILLERS MARKET, BY END-USE INDUSTRY       96

11.1         INTRODUCTION              97

11.2         COMMERCIAL   100

11.2.1      SURGE IN DEMAND FOR CHILLERS IN DATA CENTERS AND HOSPITALS               100

11.3         PLASTICS             100

11.3.1      EFFICIENCY IN COOLING MOLDS AND MOLTEN PLASTIC IN MANUFACTURING PROCESSES         100

11.4         FOOD & BEVERAGE        100

11.4.1      INCREASING DEMAND IN NUTRIENT PRESERVATION AND PASTEURIZATION 100

11.5         CHEMICALS & PETROCHEMICALS            101

11.5.1      PRESSING NEED FOR HEAT MANAGEMENT TO BOOST DEMAND FOR CHILLERS               101

11.6         RUBBER                101

11.6.1      WIDELY PREFERRED IN RUBBER EXTRUSION AND INJECTION MOLDING   101

11.7         MEDICAL & PHARMACEUTICAL                 101

11.7.1      REGULATING TEMPERATURE FOR BIOLOGICAL AND MEDICAL SPECIMENS    101

11.8         PRINTING            102

11.8.1      REGULATE INK TEMPERATURES AND MAINTAIN PRINT QUALITY              102

11.9         LASER CUTTING               102

11.9.1      ENSURING CONSISTENT BEAM QUALITY AND PREVENTING OVERHEATING DURING LASER CUT PROCESS                 102

11.10       ALTERNATIVE ENERGY 103

11.10.1   INCREASING DEMAND FOR CHILLERS FOR RECIRCULATING COOLING WATER IN SOLAR THERMAL SYSTEMS              103

11.11       OTHER END-USE INDUSTRIES   103

12            CHILLERS MARKET, BY REGION                104

12.1         INTRODUCTION              105

12.2         NORTH AMERICA             106

12.2.1      US           116

12.2.1.1  Rise in industrial, commercial, and residential building construction to drive demand             116

12.2.2      CANADA               118

12.2.2.1  Availability of natural resources to drive market              118

12.2.3      MEXICO                120

12.2.3.1  Increasing installation of chillers in various pipeline projects to propel market        120

12.3         EUROPE               122

12.3.1      GERMANY           132

12.3.1.1  Growing population and demographic changes to drive market                 132

12.3.2      FRANCE                134

12.3.2.1  Rising consumption of chillers to propel market             134

12.3.3      UK          136

12.3.3.1  Growth of manufacturing and medical sectors to drive market                 136

12.3.4      ITALY    138

12.3.4.1  Shift toward automation and Industry 4.0 to fuel market                 138

12.3.5      SPAIN    140

12.3.5.1  Growth of construction industry to drive market            140

12.3.6      RUSSIA 142

12.3.6.1  Growing need for energy-efficient chillers across various sectors to drive market      142

12.3.7      TURKEY                145

12.3.7.1  Investments in renewable and non-renewable power plants to drive market          145

12.3.8      REST OF EUROPE             147

12.4         ASIA PACIFIC     149

12.4.1      CHINA  158

12.4.1.1  Transition toward alternative energy source to drive demand                 158

12.4.2      JAPAN   160

12.4.2.1  Development of advanced technologies and efficient use of natural resources to drive market       160

12.4.3      INDIA    162

12.4.3.1  Increasing population and industrialization to drive market                 162

12.4.4      SOUTH KOREA  165

12.4.4.1  Surge in commercial construction to boost market         165

12.4.5      THAILAND          167

12.4.5.1  Rapid expansion of data centers to drive market             167

12.4.6      REST OF ASIA PACIFIC   170

12.5         MIDDLE EAST & AFRICA                171

12.5.1      GCC COUNTRIES              179

12.5.1.1  Saudi Arabia          180

12.5.1.1.1                Abundant availability of raw materials and well-developed infrastructure to drive market          180

12.5.1.2  UAE        182

12.5.1.2.1                Extreme weather conditions to increase demand for chillers   182

12.5.1.3  Qatar      184

12.5.1.3.1                Rapid urbanization and harsh climatic conditions to boost demand for chillers    184

12.5.1.4  Rest of GCC countries         186

12.5.2      SOUTH AFRICA 188

12.5.2.1  Rise in urban constructions to boost market    188

12.5.3      REST OF MIDDLE EAST & AFRICA             190

12.6         SOUTH AMERICA             192

12.6.1      BRAZIL 200

12.6.1.1  Government-led initiatives and rising investments in wastewater treatment projects to boost market   200

12.6.2      ARGENTINA       202

12.6.2.1  Rapid urbanization and industrialization to drive market                 202

12.6.3      REST OF SOUTH AMERICA           204

13            COMPETITIVE LANDSCAPE         207

13.1         OVERVIEW          207

13.2         KEY PLAYER STRATEGIES/RIGHT TO WIN            207

13.3         REVENUE ANALYSIS       210

13.4         MARKET SHARE ANALYSIS           211

13.5         COMPANY VALUATION AND FINANCIAL METRICS                 213

13.6         BRAND/PRODUCT COMPARISON ANALYSIS        214

13.6.1      MAGNITUDE     214

13.6.2      ASCEND               214

13.6.3      AQUASNAP         215

13.6.4      YORK     215

13.7         COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023                 215

13.7.1      STARS   215

13.7.2      EMERGING LEADERS     215

13.7.3      PERVASIVE PLAYERS      215

13.7.4      PARTICIPANTS 216

13.7.5      COMPANY FOOTPRINT: KEY PLAYERS, 2023         217

13.7.5.1  Company footprint               217

13.7.5.2  Region footprint   218

13.7.5.3  Medium footprint 219

13.7.5.4  Type footprint       220

13.7.5.5  Capacity footprint                 221

13.7.5.6  End-use industry footprint 222

13.8         COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023        223

13.8.1      PROGRESSIVE COMPANIES         223

13.8.2      RESPONSIVE COMPANIES            223

13.8.3      DYNAMIC COMPANIES  223

13.8.4      STARTING BLOCKS         223

13.8.5      COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023                 225

13.8.5.1  Detailed list of key startups/SMEs    225

13.8.5.2  Competitive benchmarking of startups/SMEs 226

13.9         COMPETITIVE SCENARIO             227

13.9.1      PRODUCT LAUNCHES   227

13.9.2      DEALS  228

13.9.3      EXPANSIONS     229

14            COMPANY PROFILES      231

14.1         KEY PLAYERS     231

14.1.1      DAIKIN INDUSTRIES, LTD.           231

14.1.1.1  Business overview 231

14.1.1.2  Products/Solutions/Services offered 232

14.1.1.3  Recent developments           234

14.1.1.3.1                Deals      234

14.1.1.3.2                Expansions             234

14.1.1.4  MnM view              235

14.1.1.4.1                Right to win           235

14.1.1.4.2                Strategic choices   235

14.1.1.4.3                Weaknesses and competitive threats 236

14.1.2      TRANE TECHNOLOGIES PLC      237

14.1.2.1  Business overview 237

14.1.2.2  Products/Solutions/Services offered 238

14.1.2.3  Recent developments           240

14.1.2.3.1                Product launches  240

14.1.2.3.2                Deals      240

14.1.2.3.3                Expansions             240

14.1.2.4  MnM view              241

14.1.2.4.1                Right to win           241

14.1.2.4.2                Strategic choices   241

14.1.2.4.3                Weaknesses and competitive threats 241

14.1.3      CARRIER               242

14.1.3.1  Business overview 242

14.1.3.2  Products/Solutions/Services offered 243

14.1.3.3  Recent developments           245

14.1.3.3.1                Product launches  245

14.1.3.3.2                Deals      246

14.1.3.4  MnM view              246

14.1.3.4.1                Right to win           246

14.1.3.4.2                Strategic choices   246

14.1.3.4.3                Weaknesses and competitive threats 247

14.1.4      JOHNSON CONTROLS    248

14.1.4.1  Business overview 248

14.1.4.2  Products/Solutions/Services offered 249

14.1.4.3  MnM view              252

14.1.4.3.1                Right to win           252

14.1.4.3.2                Strategic choices   252

14.1.4.3.3                Weaknesses and competitive threats 252

14.1.5      MITSUBISHI ELECTRIC CORPORATION 253

14.1.5.1  Business overview 253

14.1.5.2  Products/Solutions/Services offered 254

14.1.5.3  MnM view              256

14.1.5.3.1                Right to win           256

14.1.5.3.2                Strategic choices   256

14.1.5.3.3                Weaknesses and competitive threats 257

14.1.6      SMARDT CHILLER GROUP, INC.                 258

14.1.6.1  Business overview 258

14.1.6.2  Products/Solutions/Services offered 258

14.1.6.3  Recent developments           259

14.1.6.3.1                Deals      259

14.1.6.3.2                Expansions             260

14.1.6.4  MnM view              260

14.1.7      DRAKE REFRIGERATION INC.     261

14.1.7.1  Business overview 261

14.1.7.2  Products/Solutions/Services offered 261

14.1.7.3  Recent developments           263

14.1.7.3.1                Product launches  263

14.1.7.4  MnM view              264

14.1.8      POLYSCIENCE   265

14.1.8.1  Business overview 265

14.1.8.2  Products/Solutions/Services offered 265

14.1.8.3  MnM view              266

14.1.9      LG ELECTRONICS            267

14.1.9.1  Business overview 267

14.1.9.2  Products/Solutions/Services offered 268

14.1.9.3  MnM view              269

14.1.10   DIMPLEX THERMAL SOLUTIONS              270

14.1.10.1                 Business overview 270

14.1.10.2                 Products/Solutions/Services offered 270

14.1.10.3                 MnM view              271

14.2         OTHER PLAYERS              272

14.2.1      SCY CHILLER      272

14.2.2      KKT CHILLERS  273

14.2.3      MTA S.P.A.           274

14.2.4      FRIULAIR S.R.L. 275

14.2.5      THERMAX LIMITED        276

14.2.6      COLD SHOT CHILLERS  277

14.2.7      TANDEM CHILLERS        278

14.2.8      THERMAL CARE                278

14.2.9      SKM AIR CONDITIONING             279

14.2.10   RITE-TEMP         280

14.2.11   REFRA   281

14.2.12   GENERAL AIR PRODUCTS            282

14.2.13   AQUA COOLING LTD     282

14.2.14   CLIMACOOL, CORP.        283

14.2.15   FRIGEL FIRENZE S.P.A.  283

14.2.16   SMART FAMILY OF COOLING PRODUCTS             284

15            APPENDIX           285

15.1         DISCUSSION GUIDE        285

15.2         KNOWLEDGESTORE: MARKETSANDMARKETS’  SUBSCRIPTION PORTAL                289

15.3         CUSTOMIZATION OPTIONS        291

15.4         RELATED REPORTS         291

15.5         AUTHOR DETAILS           292

LIST OF TABLES

TABLE 1                REGULATIONS FOR FLUORINATED GREENHOUSE GASES     49

TABLE 2                CHILLERS MARKET: PORTER’S FIVE FORCES ANALYSIS            50

TABLE 3                INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES (%)     52

TABLE 4                KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES              53

TABLE 5                TRENDS OF PER CAPITA GDP, BY COUNTRY, 2020–2023 (USD)                54

TABLE 6                GDP GROWTH ESTIMATE AND PROJECTION, BY KEY COUNTRY, 2024–2027 (USD)                55

TABLE 7                NORTH AMERICA: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 60

TABLE 8                ASIA PACIFIC: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS                 61

TABLE 9                EUROPE: REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS           61

TABLE 10              ROLE OF COMPANIES IN CHILLERS ECOSYSTEM                 64

TABLE 11              CHILLERS MARKET: LIST OF KEY CONFERENCES AND EVENTS, 2024–2025                 69

TABLE 12              TOP 10 PATENT OWNERS DURING LAST 10 YEARS, 2013–2023               73

TABLE 13              CHILLERS MARKET, BY MEDIUM, 2020–2023 (USD MILLION) 80

TABLE 14              CHILLERS MARKET, BY MEDIUM, 2024–2029 (USD MILLION) 80

TABLE 15              CHILLERS MARKET, BY MEDIUM, 2020–2023 (UNITS)                81

TABLE 16              CHILLERS MARKET, BY MEDIUM, 2024–2029 (UNITS)                81

TABLE 17              CHILLERS MARKET, BY CAPACITY, 2020–2023 (USD MILLION) 84

TABLE 18              CHILLERS MARKET, BY CAPACITY, 2024–2029 (USD MILLION) 84

TABLE 19              CHILLERS MARKET, BY CAPACITY, 2020–2023 (UNITS)                85

TABLE 20              CHILLERS MARKET, BY CAPACITY, 2024–2029 (UNITS)                85

TABLE 21              CHILLERS MARKET, BY TYPE, 2020–2023 (USD MILLION)            89

TABLE 22              CHILLERS MARKET, BY TYPE, 2024–2029 (USD MILLION)            90

TABLE 23              CHILLERS MARKET, BY TYPE, 2020–2023 (UNITS)                 91

TABLE 24              CHILLERS MARKET, BY TYPE, 2024–2029 (UNITS)                 92

TABLE 25              CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)            98

TABLE 26              CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)            98

TABLE 27              CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)            99

TABLE 28              CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)            99

TABLE 29              CHILLERS MARKET, BY REGION, 2020–2023 (USD MILLION)            105

TABLE 30              CHILLERS MARKET, BY REGION, 2024–2029 (USD MILLION)            106

TABLE 31              CHILLERS MARKET, BY REGION, 2020–2023 (UNITS)                106

TABLE 32              CHILLERS MARKET, BY REGION, 2024–2029 (UNITS)                106

TABLE 33              NORTH AMERICA: CHILLERS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)     108

TABLE 34              NORTH AMERICA: CHILLERS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)     108

TABLE 35              NORTH AMERICA: CHILLERS MARKET, BY COUNTRY, 2021–2023 (UNITS)    108

TABLE 36              NORTH AMERICA: CHILLERS MARKET, BY COUNTRY, 2024–2029 (UNITS)    108

TABLE 37              NORTH AMERICA: CHILLERS MARKET, BY MEDIUM, 2020–2023 (USD MILLION)        109

TABLE 38              NORTH AMERICA: CHILLERS MARKET, BY MEDIUM, 2024–2029 (USD MILLION)        109

TABLE 39              NORTH AMERICA: CHILLERS MARKET, BY MEDIUM, 2020–2023 (UNITS)       109

TABLE 40              NORTH AMERICA: CHILLERS MARKET, BY MEDIUM, 2024–2029 (UNITS)       109

TABLE 41              NORTH AMERICA: CHILLERS MARKET, BY TYPE, 2020–2023 (USD MILLION)            110

TABLE 42              NORTH AMERICA: CHILLERS MARKET, BY TYPE, 2024–2029 (USD MILLION)            111

TABLE 43              NORTH AMERICA: CHILLERS MARKET, BY TYPE, 2020–2023 (UNITS)            112

TABLE 44              NORTH AMERICA: CHILLERS MARKET, BY TYPE, 2024–2029 (UNITS)            113

TABLE 45              NORTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            114

TABLE 46              NORTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            114

TABLE 47              NORTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (UNITS)            115

TABLE 48              NORTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (UNITS)            115

TABLE 49              US: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)            116

TABLE 50              US: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)            117

TABLE 51              US: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)            117

TABLE 52              US: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)            118

TABLE 53              CANADA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    119

TABLE 54              CANADA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    119

TABLE 55              CANADA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   120

TABLE 56              CANADA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   120

TABLE 57              MEXICO: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    121

TABLE 58              MEXICO: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    121

TABLE 59              MEXICO: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   122

TABLE 60              MEXICO: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   122

TABLE 61              EUROPE: CHILLERS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)            123

TABLE 62              EUROPE: CHILLERS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)            124

TABLE 63              EUROPE: CHILLERS MARKET, BY COUNTRY, 2020–2023 (UNITS)            124

TABLE 64              EUROPE: CHILLERS MARKET, BY COUNTRY, 2024–2029 (UNITS)            124

TABLE 65              EUROPE: CHILLERS MARKET, BY MEDIUM, 2020–2023 (USD MILLION)       125

TABLE 66              EUROPE: CHILLERS MARKET, BY MEDIUM, 2024–2029 (USD MILLION)       125

TABLE 67              EUROPE: CHILLERS MARKET, BY MEDIUM, 2020–2023 (UNITS)      125

TABLE 68              EUROPE: CHILLERS MARKET, BY MEDIUM, 2024–2029 (UNITS)      125

TABLE 69              EUROPE: CHILLERS MARKET, BY TYPE, 2020–2023 (USD MILLION)       126

TABLE 70              EUROPE: CHILLERS MARKET, BY TYPE, 2024–2029 (USD MILLION)       127

TABLE 71              EUROPE: CHILLERS MARKET, BY TYPE, 2020–2023 (UNITS)      128

TABLE 72              EUROPE: CHILLERS MARKET, BY TYPE, 2024–2029 (UNITS)      129

TABLE 73              EUROPE: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    130

TABLE 74              EUROPE: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    130

TABLE 75              EUROPE: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   131

TABLE 76              EUROPE: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   131

TABLE 77              GERMANY: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            132

TABLE 78              GERMANY: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            133

TABLE 79              GERMANY: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   133

TABLE 80              GERMANY: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   134

TABLE 81              FRANCE: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    135

TABLE 82              FRANCE: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    135

TABLE 83              FRANCE: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   136

TABLE 84              FRANCE: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   136

TABLE 85              UK: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)            137

TABLE 86              UK: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)            137

TABLE 87              UK: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)            138

TABLE 88              UK: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)            138

TABLE 89              ITALY: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    139

TABLE 90              ITALY: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    139

TABLE 91              ITALY: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   140

TABLE 92              ITALY: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   140

TABLE 93              SPAIN: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    141

TABLE 94              SPAIN: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    141

TABLE 95              SPAIN: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   142

TABLE 96              SPAIN: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   142

TABLE 97              RUSSIA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    143

TABLE 98              RUSSIA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    143

TABLE 99              RUSSIA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   144

TABLE 100            RUSSIA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   144

TABLE 101            TURKEY: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    145

TABLE 102            TURKEY: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    145

TABLE 103            TURKEY: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   146

TABLE 104            TURKEY: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   146

TABLE 105            REST OF EUROPE: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            147

TABLE 106            REST OF EUROPE: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            147

TABLE 107            REST OF EUROPE: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (UNITS)            148

TABLE 108            REST OF EUROPE: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (UNITS)            148

TABLE 109          ASIA PACIFIC: CHILLERS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)            150

TABLE 110          ASIA PACIFIC: CHILLERS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)            150

TABLE 111          ASIA PACIFIC: CHILLERS MARKET, BY COUNTRY, 2020–2023 (UNITS)            150

TABLE 112          ASIA PACIFIC: CHILLERS MARKET, BY COUNTRY, 2024–2029 (UNITS)            151

TABLE 113            ASIA PACIFIC: CHILLERS MARKET, BY MEDIUM, 2020–2023 (USD MILLION)            151

TABLE 114            ASIA PACIFIC: CHILLERS MARKET, BY MEDIUM, 2024–2029 (USD MILLION)            151

TABLE 115            ASIA PACIFIC: CHILLERS MARKET, BY MEDIUM, 2020–2023 (UNITS)            151

TABLE 116            ASIA PACIFIC: CHILLERS MARKET, BY MEDIUM, 2024–2029 (UNITS)            152

TABLE 117            ASIA PACIFIC: CHILLERS MARKET, BY TYPE, 2020–2023 (USD MILLION)            152

TABLE 118            ASIA PACIFIC: CHILLERS MARKET, BY TYPE, 2024–2029 (USD MILLION)            153

TABLE 119            ASIA PACIFIC: CHILLERS MARKET, BY TYPE, 2020–2023 (UNITS)            154

TABLE 120            ASIA PACIFIC: CHILLERS MARKET, BY TYPE, 2024–2029 (UNITS)            155

TABLE 121            ASIA PACIFIC: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            156

TABLE 122            ASIA PACIFIC: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            156

TABLE 123            ASIA PACIFIC: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   157

TABLE 124            ASIA PACIFIC: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   157

TABLE 125            CHINA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    158

TABLE 126            CHINA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    159

TABLE 127            CHINA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   159

TABLE 128            CHINA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   160

TABLE 129            JAPAN: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    161

TABLE 130            JAPAN: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    161

TABLE 131            JAPAN: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   162

TABLE 132            JAPAN: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   162

TABLE 133            INDIA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    163

TABLE 134            INDIA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    163

TABLE 135            INDIA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   164

TABLE 136            INDIA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   164

TABLE 137            SOUTH KOREA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            165

TABLE 138            SOUTH KOREA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            166

TABLE 139            SOUTH KOREA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)           166

TABLE 140            SOUTH KOREA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)           167

TABLE 141            THAILAND: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            168

TABLE 142            THAILAND: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            168

TABLE 143            THAILAND: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   169

TABLE 144            THAILAND: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   169

TABLE 145            REST OF ASIA PACIFIC: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            170

TABLE 146            REST OF ASIA PACIFIC: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            170

TABLE 147            REST OF ASIA PACIFIC: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (UNITS)            171

TABLE 148            REST OF ASIA PACIFIC: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (UNITS)            171

TABLE 149            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY COUNTRY,

2020–2023 (USD MILLION)            172

TABLE 150            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY COUNTRY,

2024–2029 (USD MILLION)            172

TABLE 151            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY COUNTRY, 2020–2023 (UNITS)    172

TABLE 152            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY COUNTRY, 2024–2029 (UNITS)    173

TABLE 153            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY MEDIUM,

2020–2023 (USD MILLION)            173

TABLE 154            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY MEDIUM,

2024–2029 (USD MILLION)            173

TABLE 155            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY MEDIUM, 2020–2023 (UNITS)       173

TABLE 156            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY MEDIUM, 2024–2029 (UNITS)       174

TABLE 157            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY TYPE, 2020–2023 (USD MILLION)                174

TABLE 158            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY TYPE, 2024–2029 (USD MILLION)                175

TABLE 159            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY TYPE, 2020–2023 (UNITS)               176

TABLE 160            MIDDLE EAST & AFRICA CHILLERS MARKET, BY TYPE, 2024–2029 (UNITS)               177

TABLE 161            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            178

TABLE 162            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            178

TABLE 163            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (UNITS)            179

TABLE 164            MIDDLE EAST & AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (UNITS)            179

TABLE 165            SAUDI ARABIA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            180

TABLE 166            SAUDI ARABIA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            181

TABLE 167            SAUDI ARABIA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   181

TABLE 168            SAUDI ARABIA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   182

TABLE 169            UAE: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    182

TABLE 170            UAE: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    183

TABLE 171            UAE: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   183

TABLE 172            UAE: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   184

TABLE 173            QATAR: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    184

TABLE 174            QATAR: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    185

TABLE 175            QATAR: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   185

TABLE 176            QATAR: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   186

TABLE 177            REST OF GCC COUNTRIES: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            186

TABLE 178            REST OF GCC COUNTRIES: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            187

TABLE 179            REST OF GCC COUNTRIES: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (UNITS)            187

TABLE 180            REST OF GCC COUNTRIES: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (UNITS)            188

TABLE 181            SOUTH AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            188

TABLE 182            SOUTH AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            189

TABLE 183            SOUTH AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)           189

TABLE 184            SOUTH AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)           190

TABLE 185            REST OF MIDDLE EAST & AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY,  2020–2023 (USD MILLION)                 190

TABLE 186            REST OF MIDDLE EAST & AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY,  2024–2029 (USD MILLION)                 191

TABLE 187            REST OF MIDDLE EAST & AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY,  2020–2023 (UNITS)  191

TABLE 188            REST OF MIDDLE EAST & AFRICA: CHILLERS MARKET, BY END-USE INDUSTRY,  2024–2029 (UNITS)  192

TABLE 189            SOUTH AMERICA: CHILLERS MARKET, BY COUNTRY, 2020–2023 (USD MILLION)     192

TABLE 190            SOUTH AMERICA: CHILLERS MARKET, BY COUNTRY, 2024–2029 (USD MILLION)     193

TABLE 191            SOUTH AMERICA: CHILLERS MARKET, BY COUNTRY, 2020–2023 (UNITS)    193

TABLE 192            SOUTH AMERICA: CHILLERS MARKET, BY COUNTRY, 2024–2029 (UNITS)    193

TABLE 193            SOUTH AMERICA: CHILLERS MARKET, BY MEDIUM, 2020–2023 (USD MILLION)        193

TABLE 194            SOUTH AMERICA: CHILLERS MARKET, BY MEDIUM, 2024–2029 (USD MILLION)        194

TABLE 195            SOUTH AMERICA: CHILLERS MARKET, BY MEDIUM, 2020–2023 (UNITS)       194

TABLE 196            SOUTH AMERICA: CHILLERS MARKET, BY MEDIUM, 2024–2029 (UNITS)       194

TABLE 197            SOUTH AMERICA: CHILLERS MARKET, BY TYPE, 2020–2023 (USD MILLION)            195

TABLE 198            SOUTH AMERICA: CHILLERS MARKET, BY TYPE, 2024–2029 (USD MILLION)            196

TABLE 199            SOUTH AMERICA: CHILLERS MARKET, BY TYPE, 2020–2023 (UNITS)            197

TABLE 200            SOUTH AMERICA: CHILLERS MARKET, BY TYPE, 2024–2029 (UNITS)            198

TABLE 201            SOUTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            199

TABLE 202            SOUTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            199

TABLE 203            SOUTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (UNITS)            200

TABLE 204            SOUTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (UNITS)            200

TABLE 205            BRAZIL: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (USD MILLION)    201

TABLE 206            BRAZIL: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (USD MILLION)    201

TABLE 207            BRAZIL: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   202

TABLE 208            BRAZIL: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   202

TABLE 209            ARGENTINA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            203

TABLE 210            ARGENTINA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            203

TABLE 211            ARGENTINA: CHILLERS MARKET, BY END-USE INDUSTRY, 2020–2023 (UNITS)   204

TABLE 212            ARGENTINA: CHILLERS MARKET, BY END-USE INDUSTRY, 2024–2029 (UNITS)   204

TABLE 213            REST OF SOUTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (USD MILLION)            205

TABLE 214            REST OF SOUTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (USD MILLION)            205

TABLE 215            REST OF SOUTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2020–2023 (UNITS)            206

TABLE 216            REST OF SOUTH AMERICA: CHILLERS MARKET, BY END-USE INDUSTRY,

2024–2029 (UNITS)            206

TABLE 217            CHILLERS MARKET: OVERVIEW OF STRATEGIES ADOPTED BY KEY PLAYERS,

2020–2024              207

TABLE 218            CHILLERS MARKET: DEGREE OF COMPETITION, 2023        211

TABLE 219            CHILLERS MARKET: REGION FOOTPRINT                 218

TABLE 220            CHILLERS MARKET: MEDIUM FOOTPRINT                 219

TABLE 221            CHILLERS MARKET: TYPE FOOTPRINT  220

TABLE 222            CHILLERS MARKET: CAPACITY FOOTPRINT                 221

TABLE 223            CHILLERS MARKET: END-USE INDUSTRY FOOTPRINT       222

TABLE 224            CHILLERS MARKET: DETAILED LIST OF KEY STARTUPS/SMES              225

TABLE 225            CHILLERS MARKET: COMPETITIVE BENCHMARKING OF STARTUPS/SMES   226

TABLE 226            CHILLERS MARKET: PRODUCT LAUNCHES, JANUARY 2020–SEPTEMBER 2024                227

TABLE 227            CHILLERS MARKET: DEALS, JANUARY 2020–SEPTEMBER 2024              228

TABLE 228            CHILLERS MARKET: EXPANSIONS, JANUARY 2020–SEPTEMBER 2024   229

TABLE 229            DAIKIN INDUSTRIES, LTD.: COMPANY OVERVIEW          231

TABLE 230            DAIKIN INDUSTRIES, LTD.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    232

TABLE 231            DAIKIN INDUSTRIES, LTD.: DEALS, JANUARY 2020–SEPTEMBER 2024   234

TABLE 232            DAIKIN INDUSTRIES, LTD.: EXPANSIONS, JANUARY 2020–SEPTEMBER 2024                234

TABLE 233            TRANE TECHNOLOGIES PLC: COMPANY OVERVIEW          237

TABLE 234            TRANE TECHNOLOGIES PLC: PRODUCTS/SOLUTIONS/SERVICES OFFERED    238

TABLE 235            TRANE TECHNOLOGIES PLC: PRODUCT LAUNCHES,

JANUARY 2020–SEPTEMBER 2024                240

TABLE 236            TRANE TECHNOLOGIES PLC: DEALS, JANUARY 2020–SEPTEMBER 2024   240

TABLE 237            TRANE TECHNOLOGIES PLC: EXPANSIONS, JANUARY 2020– SEPTEMBER 2024               240

TABLE 238            CARRIER: COMPANY OVERVIEW               242

TABLE 239            CARRIER: PRODUCTS/SOLUTIONS/SERVICES OFFERED             243

TABLE 240            CARRIER: PRODUCT LAUNCHES, JANUARY 2020–SEPTEMBER 2024              245

TABLE 241            CARRIER: DEALS, JANUARY 2020–SEPTEMBER 2024        246

TABLE 242            JOHNSON CONTROLS: COMPANY OVERVIEW                 248

TABLE 243            JOHNSON CONTROLS: PRODUCTS/SOLUTIONS/SERVICES OFFERED    249

TABLE 244            MITSUBISHI ELECTRIC CORPORATION: COMPANY OVERVIEW   253

TABLE 245            MITSUBISHI ELECTRIC CORPORATION: PRODUCTS/SOLUTIONS/SERVICES OFFERED    254

TABLE 246            SMARDT CHILLER GROUP, INC.: COMPANY OVERVIEW          258

TABLE 247            SMARDT CHILLER GROUP, INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    258

TABLE 248            SMARDT CHILLER GROUP, INC.: DEALS, JANUARY 2020–SEPTEMBER 2024                259

TABLE 249            SMARDT CHILLER GROUP, INC.: EXPANSIONS, JANUARY 2020–APRIL 2024            260

TABLE 250            DRAKE REFRIGERATION INC.: COMPANY OVERVIEW          261

TABLE 251            DRAKE REFRIGERATION INC.: PRODUCTS/SOLUTIONS/SERVICES OFFERED    261

TABLE 252            DRAKE REFRIGERATION INC.: PRODUCT LAUNCHES,

JANUARY 2020–SEPTEMBER 2024                263

TABLE 253            POLYSCIENCE: COMPANY OVERVIEW    265

TABLE 254            POLYSCIENCE: PRODUCTS/SOLUTIONS/SERVICES OFFERED    265

TABLE 255            LG ELECTRONICS: COMPANY OVERVIEW                 267

TABLE 256            LG ELECTRONICS: PRODUCTS/SOLUTIONS/SERVICES OFFERED    268

TABLE 257            DIMPLEX THERMAL SOLUTIONS: COMPANY OVERVIEW          270

TABLE 258            DIMPLEX THERMAL SOLUTIONS: PRODUCTS/SOLUTIONS/SERVICES OFFERED    270

TABLE 259            SCY CHILLER: COMPANY OVERVIEW      272

TABLE 260            KKT CHILLERS: COMPANY OVERVIEW   273

TABLE 261            MTA S.P.A.: COMPANY OVERVIEW            274

TABLE 262            FRIULAIR S.R.L.: COMPANY OVERVIEW  275

TABLE 263            THERMAX LIMITED: COMPANY OVERVIEW                 276

TABLE 264            COLD SHOT CHILLERS: COMPANY OVERVIEW                 277

TABLE 265            TANDEM CHILLERS: COMPANY OVERVIEW                 278

TABLE 266            THERMAL CARE: COMPANY OVERVIEW 278

TABLE 267            SKM AIR CONDITIONING: COMPANY OVERVIEW          279

TABLE 268            RITE-TEMP: COMPANY OVERVIEW          280

TABLE 269            REFRA: COMPANY OVERVIEW   281

TABLE 270            GENERAL AIR PRODUCTS: COMPANY OVERVIEW          282

TABLE 271            AQUA COOLING LTD: COMPANY OVERVIEW                 282

TABLE 272            CLIMACOOL, CORP.: COMPANY OVERVIEW                 283

TABLE 273            FRIGEL FIRENZE S.P.A.: COMPANY OVERVIEW                 283

TABLE 274            SMART FAMILY OF COOLING PRODUCTS: COMPANY OVERVIEW   284

LIST OF FIGURES

FIGURE 1              CHILLERS: RESEARCH DESIGN  28

FIGURE 2              CHILLERS MARKET: BOTTOM-UP APPROACH                 32

FIGURE 3              CHILLERS MARKET: TOP-DOWN APPROACH                 32

FIGURE 4              MARKET SIZE ESTIMATION: BASE NUMBER CALCULATION 33

FIGURE 5              DEMAND-SIDE FORECAST PROJECTIONS                 33

FIGURE 6              CHILLERS MARKET: DATA TRIANGULATION                 34

FIGURE 7              WATER-COOLED SEGMENT TO ACCOUNT FOR LARGEST MARKET SHARE DURING FORECAST PERIOD 37

FIGURE 8              SCREW CHILLERS TO DOMINATE MARKET DURING FORECAST PERIOD       38

FIGURE 9              BELOW 300 KW CHILLER SEGMENT TO CAPTURE LARGEST MARKET SHARE DURING FORECAST PERIOD                38

FIGURE 10            ALTERNATIVE ENERGY TO BE SECOND FASTEST-GROWING MARKET DURING FORECAST PERIOD                 39

FIGURE 11            ASIA PACIFIC TO BE FASTEST-GROWING CHILLERS MARKET DURING FORECAST PERIOD               39

FIGURE 12            ASIA PACIFIC TO LEAD MARKET DURING FORECAST PERIOD         41

FIGURE 13            WATER-COOLED TO BE LARGEST MEDIUM OF CHILLERS DURING FORECAST PERIOD 41

FIGURE 14            SCREW CHILLERS TO CAPTURE LARGEST MARKET SHARE DURING FORECAST PERIOD     42

FIGURE 15            COMMERCIAL INDUSTRY TO LEAD MARKET DURING FORECAST PERIOD       42

FIGURE 16            INDIA TO REGISTER HIGHEST CAGR DURING FORECAST PERIOD         43

FIGURE 17            CHILLERS MARKET: DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES     44

FIGURE 18            CHILLERS MARKET: PORTER’S FIVE FORCES ANALYSIS            50

FIGURE 19            INFLUENCE OF STAKEHOLDERS ON BUYING PROCESS FOR TOP THREE END-USE INDUSTRIES             52

FIGURE 20            KEY BUYING CRITERIA FOR TOP THREE END-USE INDUSTRIES              53

FIGURE 21            CHILLERS MARKET: VALUE CHAIN ANALYSIS                 56

FIGURE 22            IMPORT DATA RELATED TO HS CODE 841869-COMPLIANT PRODUCTS, BY KEY COUNTRY, 2019–2023 (USD MILLION)            62

FIGURE 23            EXPORT DATA RELATED TO HS CODE 841869-COMPLIANT PRODUCTS, BY KEY COUNTRY, 2019–2023 (USD MILLION)            63

FIGURE 24            CHILLERS MARKET:  ECOSYSTEM ANALYSIS                 64

FIGURE 25            TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS   65

FIGURE 26            CHILLERS MARKET: GRANTED PATENTS, 2013–2023        70

FIGURE 27            NUMBER OF PATENTS PER YEAR, 2013–2023                 71

FIGURE 28            LEGAL STATUS OF PATENTS, 2013–2023 71

FIGURE 29            TOP JURISDICTION, BY DOCUMENT, 2013–2023                 72

FIGURE 30            TOP 10 PATENT APPLICANTS, 2013–2023                 72

FIGURE 31            CHILLERS MARKET: INVESTMENT AND FUNDING SCENARIO, 2019–2023 74

FIGURE 32            AVERAGE SELLING PRICE TREND, BY REGION, 2020–2023 (USD/UNIT)   74

FIGURE 33            AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY MEDIUM,

2020–2023 (USD/UNIT)   75

FIGURE 34            WATER-COOLED CHILLERS TO CAPTURE LARGEST MARKET DURING FORECAST PERIOD                80

FIGURE 35            BELOW 300 KW CAPACITY CHILLERS TO CAPTURE LARGEST MARKET DURING FORECAST PERIOD                 84

FIGURE 36            SCREW CHILLERS TO CAPTURE LARGEST MARKET DURING FORECAST PERIOD    88

FIGURE 37            FOOD & BEVERAGE TO BE FASTEST-GROWING SEGMENT DURING FORECAST PERIOD 97

FIGURE 38            INDIA TO BE FASTEST-GROWING MARKET FOR CHILLERS DURING FORECAST PERIOD 105

FIGURE 39            NORTH AMERICA: CHILLERS MARKET SNAPSHOT          107

FIGURE 40            EUROPE: CHILLERS MARKET SNAPSHOT                 123

FIGURE 41            ASIA PACIFIC: CHILLERS MARKET SNAPSHOT                 149

FIGURE 42            CHILLERS MARKET: REVENUE ANALYSIS OF KEY COMPANIES,

2021–2023 (USD BILLION)             210

FIGURE 43            CHILLERS MARKET SHARE ANALYSIS, 2023                 211

FIGURE 44            CHILLERS MARKET: VALUATION OF LEADING COMPANIES, 2023 (USD BILLION)             213

FIGURE 45            CHILLERS MARKET: FINANCIAL METRICS OF LEADING COMPANIES, 2023         213

FIGURE 46            CHILLERS MARKET: BRAND/PRODUCT COMPARISON   214

FIGURE 47            CHILLERS MARKET: COMPANY EVALUATION MATRIX (KEY PLAYERS), 2023     216

FIGURE 48            CHILLERS MARKET: COMPANY FOOTPRINT                 217

FIGURE 49            CHILLERS MARKET: COMPANY EVALUATION MATRIX (STARTUPS/SMES), 2023               224

FIGURE 50            DAIKIN INDUSTRIES, LTD.: COMPANY SNAPSHOT          232

FIGURE 51            TRANE TECHNOLOGIES PLC: COMPANY SNAPSHOT          237

FIGURE 52            CARRIER: COMPANY SNAPSHOT               242

FIGURE 53            JOHNSON CONTROLS: COMPANY SNAPSHOT                 248

FIGURE 54            MITSUBISHI ELECTRIC CORPORATION: COMPANY SNAPSHOT   254

FIGURE 55            LG ELECTRONICS: COMPANY SNAPSHOT                 267