#Centrifugal Compressor Market Growth

[mordormr]

Understanding the Centrifugal Compressor Market: Trends, Growth Drivers, and Industry Insights

Market Overview

The centrifugal compressor system market is projected to grow at a CAGR exceeding 4.26% throughout the forecast period. The centrifugal compressor market has been steadily expanding, driven by demand from industries that require high-speed and reliable air compression systems. Advances in centrifugal compressor technology have improved operational efficiency, reliability, and energy savings, fueling their adoption in multiple industrial applications.

Key Trends in the Centrifugal Compressor Market

Technological Advancements and Innovation The market is witnessing innovations in compressor design, material strength, and performance capabilities. Enhanced computer-aided designs (CAD) and improved manufacturing techniques are contributing to compressors with greater efficiency, longer life, and reduced environmental impact.

Focus on Energy Efficiency and Sustainability With rising energy costs and global emphasis on sustainability, companies are prioritizing energy-efficient systems. Centrifugal compressors, known for their efficiency at high speeds, are gaining traction as they help reduce operational costs and carbon footprint, supporting corporate and environmental goals.

Growing Adoption in Oil and Gas Industry The oil and gas sector continues to be one of the largest consumers of centrifugal compressors. These compressors are integral to the transportation, refining, and production stages, where consistent, high-pressure air compression is essential for productivity.

Increased Use in Emerging Markets Demand is also rising in emerging markets, where industrialization and infrastructural development are driving investments in power plants, refineries, and manufacturing facilities, all of which benefit from centrifugal compressor technology.

Growth Drivers in the Centrifugal Compressor Market

Industrial Automation The trend of automation across industries is boosting demand for reliable and efficient compressor systems. Centrifugal compressors are integral to automated systems where constant air pressure is necessary for smooth operation.

Infrastructure Development Infrastructure expansion in both developed and developing regions is accelerating the need for air compressors in construction, utilities, and industrial plants.

Increasing Energy Demand As global energy needs rise, the power generation industry increasingly relies on centrifugal compressors for various applications, from gas turbines to renewable energy support systems.

Future Outlook for the Centrifugal Compressor Market

With the continued focus on energy efficiency, the push for industrial automation, and growth in key industries such as oil and gas, the centrifugal compressor market is expected to witness steady growth. Technological innovations and a shift toward greener solutions will likely make centrifugal compressors an even more attractive choice for industries looking to optimize performance and reduce costs.

Conclusion

The centrifugal compressor market is evolving to meet the demands of a rapidly changing industrial landscape. By focusing on energy efficiency, performance, and technological advancements, the industry is set to play a crucial role in the future of global manufacturing, power generation, and energy sectors.

For a detailed overview and more insights, you can refer to the full market research report by Mordor Intelligence: https://www.mordorintelligence.com/industry-reports/global-centrifugal-compressors-market-industry

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Flare Gas Recovery System Market Overview and Future Growth Projections 2024 - 2032

The flare gas recovery system (FGRS) market is gaining traction as industries seek to minimize waste, enhance operational efficiency, and comply with stringent environmental regulations. Flare gas recovery systems capture and utilize gases that would otherwise be flared during oil and gas operations, converting waste into valuable resources. This article provides an in-depth analysis of the flare gas recovery system market, exploring its significance, growth drivers, challenges, market segmentation, regional insights, and future trends.

Understanding Flare Gas Recovery Systems

Flare gas recovery systems are designed to capture and process gases that are typically burned off at flare stacks during oil and gas production. These systems consist of various components, including compressors, separators, and storage facilities, which work together to recover flare gas for reuse. By recovering and utilizing these gases, companies can reduce greenhouse gas emissions, improve energy efficiency, and comply with environmental regulations.

Importance of Flare Gas Recovery Systems

Environmental Compliance

FGRS plays a critical role in helping companies meet environmental regulations by reducing emissions of harmful gases, including methane and volatile organic compounds (VOCs). This is particularly important in regions with strict regulatory frameworks.

Economic Benefits

By recovering flare gas, companies can convert what was once considered waste into a valuable resource. This not only reduces operational costs but also generates additional revenue streams through the sale of recovered gas.

Enhanced Operational Efficiency

Flare gas recovery systems contribute to improved operational efficiency by minimizing waste and optimizing resource utilization. This can lead to better overall performance and sustainability for oil and gas companies.

Market Dynamics

Growth Drivers

Increasing Regulatory Pressures

Stricter environmental regulations globally are driving the demand for flare gas recovery systems. Governments and regulatory bodies are implementing policies to reduce emissions, pushing industries to adopt recovery technologies.

Rising Awareness of Environmental Sustainability

With growing awareness of climate change and the need for sustainable practices, companies are increasingly investing in technologies that minimize their environmental impact. FGRS is seen as a crucial solution in this transition.

Economic Incentives

The economic benefits associated with flare gas recovery—such as reduced energy costs and the potential for new revenue streams—are encouraging companies to invest in these systems. Financial incentives and grants from governments further bolster market growth.

Challenges

High Initial Costs

The upfront capital investment required for flare gas recovery systems can be a significant barrier for many companies, particularly smaller operators in the oil and gas sector. This can slow down the adoption of recovery technologies.

Technical Complexity

Designing and implementing an effective flare gas recovery system can be technically complex, requiring specialized knowledge and expertise. Companies may face challenges in integrating these systems with existing infrastructure.

Variability in Gas Composition

The composition of flare gas can vary significantly based on production conditions, which can complicate the recovery process. This variability may impact the efficiency and reliability of flare gas recovery systems.

Market Segmentation

By Component

Compressors

Compressors are a vital component of flare gas recovery systems, responsible for capturing and pressurizing flare gas for storage or further processing. They come in various types, including centrifugal and reciprocating compressors.

Storage Tanks

Storage tanks are used to hold recovered flare gas before it is utilized or transported. The design and capacity of storage tanks play a crucial role in the efficiency of the recovery system.

Separation Units

Separation units are essential for removing impurities from flare gas before it is recovered. This ensures that the recovered gas meets quality standards for further use or sale.

By Application

Oil and Gas

The oil and gas sector is the largest consumer of flare gas recovery systems, utilizing them to capture gas that would otherwise be flared during production and processing operations.

Petrochemical

Petrochemical industries are increasingly adopting flare gas recovery systems to optimize resource use and reduce emissions, contributing to overall sustainability efforts.

Chemical

The chemical industry also utilizes flare gas recovery systems to minimize waste and comply with environmental regulations, enhancing their operational efficiency.

By Region

North America

The North American flare gas recovery system market is driven by stringent environmental regulations and a strong emphasis on sustainability. The region is home to many leading oil and gas companies actively investing in recovery technologies.

Europe

In Europe, the focus on reducing greenhouse gas emissions and enhancing energy efficiency is propelling the growth of the FGRS market. Many countries are implementing policies to support the adoption of recovery systems.

Asia-Pacific

The Asia-Pacific region is witnessing significant growth in the flare gas recovery system market due to increasing industrialization and rising awareness of environmental issues. Countries like China and India are investing in technologies to improve sustainability in their oil and gas sectors.

Future Trends

Technological Innovations

Advancements in technology, such as improved gas processing methods and automation, are expected to enhance the efficiency of flare gas recovery systems. Innovations in sensors and monitoring systems will also enable better performance tracking.

Integration with Renewable Energy

The integration of flare gas recovery systems with renewable energy sources, such as biogas or solar energy, is likely to become more prevalent. This convergence can further improve the sustainability of operations.

Focus on Circular Economy

As industries increasingly adopt circular economy principles, flare gas recovery systems will play a key role in minimizing waste and maximizing resource utilization, aligning with broader sustainability goals.

Conclusion

The flare gas recovery system market is poised for significant growth as industries prioritize environmental compliance and operational efficiency. Driven by regulatory pressures, economic incentives, and a growing awareness of sustainability, FGRS is becoming an essential technology in the oil and gas sector and beyond. While challenges such as high initial costs and technical complexity exist, ongoing innovations and a focus on sustainability will shape the future of flare gas recovery systems. As companies continue to seek ways to reduce their environmental impact, flare gas recovery will remain a crucial component in the transition towards a more sustainable and efficient energy landscape.

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Chillers Market Size, Share, Growth, Analysis Forecast to 2030

Chillers Industry Overview

The global chillers market size was estimated at USD 9,928.3 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030.

The market is driven by the rising need for cost-effective and energy-efficient space cooling solutions in commercial and industrial sectors. This, in turn, is expected to augment the demand for the chillers market over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Chillers Market

According to the U.S. Department of Agriculture (USDA), the growing population, rising consumer disposable income, and ongoing urbanization are expected to augment the growth of commercial and residential sector in the country in the forecast period. The demand for chillers in the U.S. residential sectors is driven by a combination of factors, including the need for efficient and reliable air conditioning systems. With a focus on energy efficiency, homeowners are increasingly adopting chillers equipped with advanced technologies and smart controls to ensure precise temperature regulation while minimizing environmental impact. In the commercial sector, the demand for chillers remains robust, particularly in industries such as hospitality, healthcare, and data centres.

Moreover, chillers play a pivotal role in maintaining optimal temperatures for occupant comfort, equipment reliability, and critical processes. The trend towards sustainable building practices and stringent energy efficiency standards further accelerates the adoption of chillers in both residential and commercial applications across the U.S.

The integration of advanced technologies is transforming the global market. Smart chillers, equipped with IoT capabilities, sensors, and predictive maintenance features, allow for remote monitoring and optimization. These technologies enhance overall system efficiency, reduce downtime, and contribute to cost savings. These aforementioned factors are further expected to drive the demand for market over the forecast period.

Global Chillers Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global chillers market report based on product, application, compressor type, and region

Product Outlook (Revenue, USD Million, 2018 - 2030)

Water-Cooled

<50kW

51-100kW

101-500kW

501-1000kW

1001-1500kW

>1501kW

Air -Cooled

<50kW

51-100kW

101-500kW

501-1000kW

1001-1500kW

>1501kW

Application Outlook (Revenue, USD Million, 2018 - 2030)

Commercial

Corporate Offices

Data Centers

Public Buildings

Mercantile & Service

Healthcare

Others

Industrial

Chemicals & Pharmaceuticals

Food & Beverage

Metal Manufacturing & Machining

Medical & Pharmaceutical

Plastics

Others

Residential

Compressor Type Outlook (Revenue, USD Million, 2018 - 2030)

Screw Chillers

Centrifugal Chillers

Absorption Chillers

Scroll Chillers

Reciprocating Chillers

Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

US

Canada

Mexico

Europe

UK

Germany

France

Italy

Spain

Russia

Asia Pacific

China

Japan

India

Australia

Thailand

South Korea

Indonesia

Malaysia

Central & South America

Brazil

Argentina

Middle East and Africa

Saudi Arabia

South Africa

UAE

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global hardfacing welding market size was estimated at USD 1.73 billion in 2023 and is forecasted to grow at a CAGR of 5.3% from 2024 to 2030.

• The global advanced phase change materials market size was valued at USD 3.01 billion in 2023 and is anticipated to reach a CAGR of 8.2% from 2024 to 2030.

Key Chillers Company Insights

The global market is highly competitive on account of the presence of global and local manufacturers. Companies are engaged in expansion through mergers & acquisitions and joint ventures. These companies offer a wide range of systems that are sold through multiple channels, including distributors, company-owned websites, retailers & their websites, and e-commerce websites. For instance, in May 2023, Trane acquired MTA, an Italian manufacturer and distributor specializing in industrial refrigeration and air conditioning equipment. This strategic acquisition is expected to enhance Trane's commercial HVAC capabilities, particularly in key markets, by incorporating MTA's process chillers and expanding the rental and services business. With manufacturing sites located in Tribano and Conselve and a workforce of approximately 500 employees, MTA has an annual production capacity of 13,500 systems.

Key Chillers Companies:

The following are the leading companies in the chillers market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these chillers companies are analyzed to map the supply network

Trane

Cold Shot Chillers

Tandem Chillers

Drake Refrigeration, Inc

Refra

Carrier

FRIGEL FIRENZE S.p.A.

Midea

Daikin Industries, Ltd.

Johnson Controls

Rite-Temp

General Air Products

ClimaCool Corp.

Fluid Chillers, Inc.

Multistack International Limited

Honeywell International, Inc

Recent Developments

In December 2022, Trane unveiled its latest offerings, the water-cooled XStream eXcellent GVWF and air-cooled Sintesis eXcellent GVAF chillers. These innovative chillers incorporate magnetic-bearing compressors and utilize the low global warming potential (GWP) refrigerant R1234ze. Equipped with high-speed centrifugal compressor technology, these chillers deliver larger capacities, wider operating maps to meet challenging European climate conditions, and enhanced seasonal efficiencies, all while maintaining a compact size

In April 2021, refrigeration equipment manufacturer Refra initiated production operations at its newly established facility in Vievis, located in close proximity to the capital city, Vilnius, Lithuania. Spanning an area of 12,000 square meters, the factory is situated approximately 40 kilometers northwest of Refra's headquarters in Vilnius. The expansion has resulted in the creation of employment opportunities for an additional 100 individuals

Order a free sample PDF of the Chillers Market Intelligence Study, published by Grand View Research.

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Air Compressor Market Size To Reach $34.10 Billion By 2030

The global air compressor market size is anticipated to reach USD 34.10 billion by 2030, registering a CAGR of 4.7% from 2023 to 2030. Air compressors are used in various industries, such as food and beverages, home appliances, oil and gas, semiconductors and electronics, healthcare, manufacturing, and energy. The rising need for the reduction of CO2 emissions and stringent regulations pertaining to environmental conservation is anticipated to boost market growth. Moreover, eco-friendly, reliable features, ease of handling, and low maintenance costs offered by the product are propelling its demand.

The onset of the COVID-19 pandemic resulted in lockdowns and declining investments across industries and verticals, which hampered the growth of the market. However, after a short slowdown, the market is expected to rebound and witness a healthy growth rate in the post-pandemic era.

The growing consumer awareness regarding product quality, the need for improved air quality, and supportive government policies on energy conservation are anticipated to boost the market growth. At workplaces, air compressors are required to comply with the Occupational Health & Safety (OHS) regulations, which would positively impact the market over the forecast period.

Oil-free air compressors are expected to emerge as the fastest-growing lubrication segment. The growth is attributed to the increased proliferation in the manufacturing sector. Moreover, oil-free compressors reduce the operating costs by evading compressor oil separator elements and down-streaming filter replacement costs.

Asia Pacific dominated the market for air compressor in 2020 owing to rapid industrialization in emerging economies, such as India and China. The need for efficient and next-generation compressors has propelled the product demand across different industries in the region.

Request a free sample copy or view report summary: Air Compressor Market Report

Air Compressor Market Report Highlights

The stationary air compressor segment accounted for over 60.5% market share in 2023, while the portable segment is anticipated to emerge as the fastest-growing segment from 2024 to 2030

The oil-filled compressor segment is likely to lead the market over the forecast period. These compressors are widely adopted for commercial applications by the chemical, energy, and manufacturing industries

The rotary segment will dominate the market share over the forecast period. These compressors offer continuous airflow at different discharge pressure and operate through positive displacements. Furthermore, features such as easy maintenance and longer product life are expected to fuel the demand for these compressors over the forecast period

Asia Pacific held the largest market share in 2023. The growing oil and gas sector in countries such as China and India is, in turn, expected to lead the growth of the market

Air Compressor Market Segmentation

Grand View Research has segmented the global air compressor market based on type, product, lubrication, application, and region:

Air Compressor Type Outlook (Revenue, USD Billion; Volume, Units 2018 - 2030)

Stationary

Portable

Air Compressor Product Outlook (Revenue, USD Billion; Volume, Units 2018 - 2030)

Reciprocating

Rotary/Screw

Centrifugal

Air Compressor Lubrication Outlook (Revenue, USD Billion; Volume, Units; 2018 - 2030)

Oil Free

Oil Filled

Air Compressor Application Outlook (Revenue, USD Billion; Volume, Units 2018 - 2030)

Healthcare & Medical

Manufacturing

Oil & Gas

Home Appliances

Food & Beverage

Energy

Semiconductor & Electronics

Others

Air Compressor Air Compressor Operating Mode Outlook (Revenue, USD Billion; Volume, Units; 2018 - 2030)

Electric

Internal Combustion Engine

Air Compressor Power Range Outlook (Revenue, USD Billion; Volume, Units; 2018 - 2030)

Up to 20 kW

21-50kW

51-250 kW

251-500 kW

Over 500kW

Air Compressor Regional Outlook (Revenue, USD Billion; Volume, Units 2018 - 2030)

North America

U.S.

Canada

Mexico

Europe

Germany

UK

France

Italy

Spain

Asia Pacific

China

India

Japan

Australia

South Korea

Central & South America

Brazil

Argentina

Middle East & Africa

Saudi Arabia

South Africa

List of Key Players of Air Compressor Market

AireTex Compressor

Atlas Copco

Bauer Group

BelAire Compressors

Cook Compression

Compressor Products International (CPI)

Frank Compressors

Galaxy Auto Stationary Equipment Co. Ltd.

Gast Manufacturing, Inc.

GENERAL ELECTRIC

Ingersoll Rand Plc

Kaeser Compressors

MAT Industries, LLC

[businessindustry]

Water-Cooled Chillers Market Research, Analysis by Trends 2032

The Reports and Insights, a leading market research company, has recently releases report titled “Water-Cooled Chillers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Water-Cooled Chillers Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Water-Cooled Chillers?

The global water-cooled chillers market size reached US$ 4.8 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 5.6 billion in 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.

What are Water-Cooled Chillers Market?

Water-cooled chillers are refrigeration systems utilized to extract heat from liquids by employing water as the cooling agent. These chillers find extensive applications in air conditioning, industrial processes, and large-scale facilities where effective cooling is crucial. The process involves circulating water through a condenser to absorb heat from a refrigerant gas. This gas is subsequently compressed and cooled, generating chilled water for various cooling needs. Known for their efficiency and ability to handle substantial cooling demands, water-cooled chillers are ideal for environments requiring precise temperature regulation and energy conservation.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/1907

What are the growth prospects and trends in the Water-Cooled Chillers Market industry?

The water-cooled chillers market growth is driven by various factors and trends The water-cooled chillers market includes systems that effectively remove heat from liquids using water as a cooling agent. These chillers are vital for applications in air conditioning, industrial processes, and large-scale facilities where efficient cooling is paramount. Growth in the market is fueled by rising demand for energy-efficient cooling solutions, stringent environmental regulations favoring sustainable technologies, and expanding construction and industrial activities. Manufacturers are prioritizing improvements in chiller efficiency, reliability, and environmental sustainability to meet varied customer demands and global regulatory standards. Hence, all these factors contribute to water-cooled chillers market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Type:

Centrifugal Chillers

Screw Chillers

Absorption Chillers

Reciprocating Chillers

Scroll Chillers

Capacity

Small Capacity Chillers

Medium Capacity Chillers

Large Capacity Chillers

End-Use Industry

Manufacturing

Commercial Buildings

Data Centers

Healthcare

Hospitality

Others

Application

Air Conditioning

Process Cooling

Compressor Type

Scroll Compressors

Screw Compressors

Centrifugal Compressors

Reciprocating Compressors

Refrigerant Type

Hydrochlorofluorocarbon (HCFC)

Hydrofluorocarbon (HFC)

Ammonia

Others

Power Source

Electric Chillers

Absorption Chillers

Engine-Driven Chillers

Component

Compressors

Condensers

Evaporators

Control Systems

Others

Sales Channel

Direct Sales

Distributor/Wholesaler

Service Type

Installation and Commissioning

Maintenance and Repair

Consulting and Training

Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

India

Japan

South Korea

Australia

New Zealand

ASEAN

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Rest of Latin America

Middle East & Africa:

Saudi Arabia

United Arab Emirates

South Africa

Egypt

Israel

Rest of MEA.

Who are the key players operating in the industry?

The report covers the major market players including:

Daikin Industries Ltd.

Johnson Controls International plc

Trane Technologies plc

Carrier Global Corporation

Mitsubishi Electric Corporation

York (Johnson Controls)

LG Electronics Inc.

Schneider Electric SE

Climaveneta (Mitsubishi Electric)

Smardt Chiller Group Inc.

McQuay International (Daikin)

Thermax Limited

Multistack International Limited

Frigel Firenze S.p.A.

Broad Air Conditioning Co. Ltd.

Discover more: https://www.reportsandinsights.com/report/Water-Cooled Chillers-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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Electric Motor Market - Forecast(2024 - 2030)

 Electric Motor Market Overview

Electric Motor Market Size is forecast to reach $169 billion by 2030, at a CAGR of 5.6% during 2024-2030. The increase in global electricity consumption and the use of electrical equipment and machines in different industries and the renewables sector are major factors driving the growth in the electric motor market during the forecast period. An increase in awareness of green vehicles among customers has been a key factor leading the market. Besides this, a rising number of government incentives to encourage sales of green vehicles for safeguarding the environment from carbon emissions is analysed to drive the market. The growing interest in sustainable transportation has driven the demand for electric vehicles. Electric motors play a crucial role in powering EVs, and advancements in motor technology contribute to increased efficiency and range. The industrial sector is witnessing the integration of electric motors with the Internet of Things (IoT) and Industry 4.0 technologies. This integration allows for real-time monitoring, predictive maintenance, and improved efficiency in industrial processes.

Smart motor technologies, incorporating features like connectivity, sensors, and advanced control systems, are becoming more prevalent. These innovations contribute to better performance, remote monitoring, and enhanced automation in various applications. Developments in motor control systems, including advanced algorithms and power electronics, contribute to improved motor performance, reduced energy losses, and enhanced control precision. There is an increasing emphasis on developing more energy-efficient electric motors to meet sustainability goals and reduce energy consumption. Regulations and standards promoting energy efficiency also influence the design and manufacturing of electric motors. Additionally, Electric motors have been observing several advancements in technology over the past few years, owing to which its demand is set to gain higher traction during the forecast period 2024-2030.

Report Coverage

The report: “Electric Motor Market Report– Forecast (2024-2030)”, by IndustryARC covers an in-depth analysis of the following segments of the Electric Motor market

By Product Type: AC Motor (Induction Motor, Synchronous Motor, Servo Motor, Stepper Motor), DC Motor (Brushed DC Motor, Brushless DC Motor, Servo Motor, Series Motor, Stepper motor, Compound Motor).

By Product Category: Permanent Magnet, Non-Permanent Magnet.

By Phase: Single Phase, Three Phase.

By Power Rating: Below 0.5W, 0.5W-1W, 1W to 100W, 100W to 1KW, 1KW to 10KW, 10KW and Above.

By Efficiency: IE1, IE2, IE3, IE4.

By Application: Commercial (Automated Doors, Elevators & Escalators, Blowers, Electric Sweepers, Hand Dryers, Data Center & UPS, Pumps, Power Tools, Water Coolers, Camera PTZ Control, Drones, Others), Consumer Products (Pumps, Hair Dryers, Lawn Mowers, Boilers, Dishwashers, Vacuum Cleaners, washing machine, Blenders & Mixers, Fans & Chimneys, Desktop & Laptops, Smartphones, Refrigerators, Others), Automotive (Body Control motors, EPS Motors, Brake Booster BLDC Motor, Seat Adjustment, Belt Tensioner, Car Window Motor, Door Lock Motors, Wiper Motor, Others), Medical & Healthcare (Diagnostic Equipment (CT Scanners, MRI, Biopsy Systems, Diagnostics Analyzers, Ultrasound Transducers, X-Ray, Others), Medical Centrifuges, Medical Pumps, Blowers and Compressors, Surgical Instruments (Saws, Drills, Surgical Robots, Others), Dental CAD/CAM Milling Machines, Exoskeleton & Prosthetics, Microscopes, Wheelchairs & Scooters, Stair Lifts, Hospital Beds & Exam Tables, Others).

By Geography: North America (U.S, Canada, Mexico), South America(Brazil, Argentina and others), Europe(Germany, UK, France, Italy, Spain, Russia, Netherlands, Poland, Czechia, Belgium, Sweden  and Others), APAC(China, Japan India, SK, Aus and Others), and RoW (Middle East and Africa)

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Key Takeaways

• The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the electric motor market in APAC.

• The DC Motor segment is growing at a significant CAGR of 7.6% in the forecast period 2024-2030. A DC motor consists of a stator and a rotor.

• Medical & Healthcare sector is expected to witness a highest CAGR of 8.5% the forecast period 2024-2030, due to its extensive reliance on electrically powered devices and equipment. Diagnostic imaging equipment, such as MRI and CT scanners, demands high-performance electric motors for precise movements and accurate imaging. 

• Electric Motor companies are strengthening their position through mergers & acquisitions and continuously investing in research and development (R&D) activities to come up with solutions to cater to the changing requirements of customers. 

Electric Motor Market Segment Analysis - By Product Type

The DC Motor segment is expected to grow at a significant CAGR of 7.6% during the forecast period 2024-2030. Owing to the growing penetration of brushless DC motors across various industry verticals substituting brushed dc and even ac induction motors in certain applications such as home appliances. DC motors are used in electric vehicles in the automotive industry for various non-traction applications, contributing to the ongoing shift towards sustainable transportation. As the demand for electric vehicles grows, so does the demand for efficient and dependable DC motors. DC motors are also widely used in industrial automation, powering conveyor systems, robotics, and manufacturing equipment. Owing to the ease of control, they are suitable for accurate and regulated movements in automated processes.

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Electric Motor Market Segment Analysis - By Application

Medical & Healthcare sector is expected to witness a highest growth of CAGR 8.5% during the forecast period 2024-2030, owing to the increase in investments in healthcare and medical sector, along with growing penetration of advanced medical devices & equipment in the sector such as surgical robots, advanced imaging & diagnostic equipment, prosthetics and so on. Medical advances and technical improvements have resulted in the development of a wide range of medical instruments and gear that significantly rely on the precision and efficiency provided by electric motors. High-performance electric motors are required for precise motions and accurate imaging in diagnostic imaging equipment such as MRI and CT scanners. Electric motors provide stability and consistency to patient care and monitoring systems such as infusion pumps and monitoring equipment. Furthermore, the incorporation of electric motors in mobility aids such as electric wheelchairs and patient lifts improves accessibility for people who have mobility issues. Electric motors are used in laboratory equipment, robotic surgical systems, and a variety of medical tools, all of which contribute to the overall efficiency and improvement of healthcare techniques. The demand for electric motors is on the rise as the healthcare industry evolves and adopts more technologically sophisticated solutions, fueling additional innovation in this critical sector.

Electric Motor Market Segment Analysis - By Geography 

Electric Motor market in Asia-Pacific region held significant market share of 38% in 2023. Increasing compliance for energy efficient motors and rising adoption of motor-driven electric vehicles are the key factors driving market growth.  The rising demand for efficient energy usage over concerns of environmental impact of energy generation from conventional sources such as coal and natural gas, is expected to help grow the electric motor market. In addition, advancements in the agriculture sector and enormous investments in industrialization in countries such as China, India, South Korea, and Australia is driving the market growth. Further, the increasing production and sales of electric vehicles in countries including China and Japan is also analyzed to drive the market growth. 

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Electric Motor Market Drivers

Rise in demand for Electric Vehicles

The electric car market has witnessed rapid evolution with the ongoing developments in automotive sector and favorable government policies and support in terms of subsidies and grants, tax rebates. Major manufacturers such as General Motors, Toyota, and BMW plan to release a potential of 400 models and estimated global sales of 25 million by 2025. In 2022, Ford Motor has committed to increase its investments in electric vehicles to $50 billion by 2026, up from a previous spend of $30 billion by 2025. Similarly, in 2020, Volkswagen, Chinese ventures has committed to invest $17.5 billion in electric vehicles by 2025. As electric vehicles use various types of electric motors for traction & auxiliary applications, the rising demand for electric vehicles globally is set to assist the market growth for electric motors used in the same.

Growing R&D activities 

Manufacturers are continuously focusing on R&D to develop new and effective electric motors to meet consumer demand. Increasing concerns, such as environmental pollution and regulations, are forcing manufacturers to develop electric motors that reduce vibration and increase efficiency. For instance, a synchronous electric motor is around 80% more efficient than an induction electric motor. Similarly, the development of a new type of steel for electric motors, which reduces the weight of the electric motor and makes it more efficient and powerful. This new type of electric motor will be small in size and cost effective, which will raise demand from residential and commercial applications. Moreover growing developments from various companies is also analysed to drive the market growth. Hence these factors are analysed to drive the market growth in the forecast period 2024-2030.

Electric Motor Market Challenges 

Easy availability of low-quality electric motors

The market for electric motors is highly fragmented, with a significant number of domestic and international manufacturers. Product quality is a primary parameter for differentiation in this market. The organized sector in the market mainly targets industrial buyers and maintains excellent product quality, while the unorganized sector offers low-cost alternatives to tap local markets. Local manufacturers of electric motors in most countries target the unorganized sector and compete strongly with the global suppliers in the respective markets. Leading market players are currently exposed to intense competition from such unorganized players supplying inexpensive and low-quality electric motors. This acts as a key challenge for the growth of the market.

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Market Landscape

Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Electric Motor market. Electric Motor top 10 companies include:

ABB Ltd

Johnson Electric Holdings Limited

Siemens AG

Rockwell Automation

Nidec Corporation

Bosch Electric

Regal Rexnord

Franklin Electric Company Inc.

Teco Electric & Machinery Co. Ltd.

Wolong Electric Group co. ltd.

Acquisitions/Product Launches

• In July 2023, Nidec Corporation announced that it has successfully developed a new electric power steering motor power pack*1 (“EPS-PP”).

• In July 2023, WEG announced new investments for its motor manufacturing plant located in Manaus, Brazil. The Company will invest R$ 48 million, in the next three years, to expand production capacity and adapt the plant to produce a new line of permanent magnet electric motors for split-type air conditioners

• In December 2023, Johnson Electric Launches 48-Volt Cooling Fan Module with High Power and Efficiency. Johnson Electric is pleased to announce the launch of the 48-Volt Cooling Fan Module with power up to 1.5kW to meet the most demanding cooling requirements.  The need to reduce emissions and increase the electrification of the vehicle, requires higher cooling performance and efficiency.

[researchintelligence]

Air compressor Market Analysis, Industry Growth, Trend and Forecast by 2030

The Air Compressor Market Size was valued at USD 24.8 Bn in 2022 and is expected to reach USD 35.21 Bn by 2030 and grow at a CAGR of 4.48% over the forecast period 2023-2030.

The most recent Air Compressor market study includes a detailed definition of the industry and its key segments, as well as an analysis of the business vertical. According to the survey, technological advancements are propelling the business forward. The report covers market drivers, limitations, challenges, strategic expansions, market size and share, development prospects, and threats.

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Top Keyplayers:

Frank Compressors, Galaxy Auto Stationary Equipment Co. Ltd., Gast Manufacturing, Inc., GENERAL ELECTRIC, Ingersoll Rand Plc, Kaeser Compressors, MAT Industries, LLd, AireTex Compressor, Atlas Copco, Bauer Group, BelAire Compressors, Cook Compression, Compressor Products International (CPI) and Other Players

Market Segmentation

BY TYPE

Portable

Stationary

BY TECHNOLOGY

Reciprocating

Rotary

Centrifugal

BY LUBRICATION METHOD

Oiled

Oil-free

BY POWER RATING

0-100 kW

101-300 kW

301-500 kW

501 kW & above

BY END-USER INDUSTRY

Food & Beverage

Oil & Gas

Manufacturing

Medical

Power Generation

Others

The report also includes segmentation such as type, industry, and channel sectors, as well as market size data for each segment in terms of both volume and value. Manufacturers must understand the lucrative segments of the Air Compressor market in which these major companies are investing their efforts, so data on notable industry participants is included in the research report.

Key Influencers for Air Compressor Market

The study goes into great detail about the market's characteristics and the factors that contribute to its success. The industry's growth is fueled by major corporations' ongoing efforts to develop new products and technology. Furthermore, the industry is witnessing a flurry of strategic collaborations and efforts aimed at broadening the market's scope.

Regional Dynamics

To provide a comprehensive understanding of the market, the regional research sections also provide a country-by-country examination. The geographical split of the market is indicated by Air Compressor market analysis in places where the market has already established itself as a leader. Import/export studies, supply and demand dynamics, regional trends and demands, and the presence of key players in each region's production and consumption ratios are all considered.

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Competitive Scenario

This section focuses on the initiatives and improvements made by the industry's leading participants in order to establish a strong presence. The study includes a thorough analysis to give the reader a better understanding of the market's competitive landscape. The study also includes revenue, gross profit margin, financial health, market position, product portfolio, and other relevant metrics for each player. The study also includes a thorough SWOT analysis and a Porter's Five Forces analysis.

The Air Compressor market report also includes information on mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements to provide you with a more comprehensive view of the industry. This section is a great resource for market participants who want to rethink their strategic positions.

About US:

SNS Insider is a frontrunner in global market research and consulting. We empower clients with the insights they need to navigate evolving landscapes.

Our team leverages a global network to deliver cutting-edge market data, consumer trends, and actionable insights. Through surveys, focus groups, and video discussions, we provide the information you need to make confident decisions.

We are committed to delivering reliable data across a wide range of industries. Recognized as a global leader, we have the expertise to design and implement tailored research programs, from surveys to focus groups, catering to virtually any sector.

Key improvements:

Stronger verbs and adjectives: uses words like "frontrunner," "empower," "navigate," "cutting-edge," to create a more dynamic and confident tone.

Focus on benefits: emphasizes how SNS Insider helps clients make confident decisions and navigate change.

Conciseness: streamlines the text while maintaining key information.

Actionable language: highlights the "tailored" research programs offered by SNS Insider.

Contact Us: Akash Anand – Head of Business Development & Strategy info@snsinsider.com Phone: +1-415-230-0044 (US) | +91-7798602273 (IND)

[industryforecastnews]

Industrial Refrigeration Systems Market Size, Share & Trends Report, 2030

Industrial Refrigeration Systems Market Growth & Trends

The global industrial refrigeration systems market size is anticipated to reach USD 27.66 billion by 2030, registering a CAGR of 4.4% from 2023 to 2030, according to a new report published by Grand View Research, Inc. The demand for industrial refrigeration is increasing due to the fast-moving consumer goods and retail food which needs efficient storage for perishable edible items. Governments are taking initiatives to support and strengthen the cold chain infrastructure and shifting towards eco-friendly refrigeration systems.

Global warming and climate change have alarmed nations to take the necessary step to curb the crisis. As a result, industrial refrigeration system manufacturing companies have expressed concerns regarding the potential of global warming and ozone depletion of their refrigerants. As a result, companies are focusing on technologies to offer improved cost-effectiveness, lesser toxic refrigerants, lower energy consumption, and less toxic materials.

For instance, DanFoss, a prominent manufacturer of industrial refrigeration systems, introduced Cool selector 2 to help them design and optimize their air conditioning and refrigeration systems. System designers, engineers, and consultants can use the software to make optimum use of energy and HVACR systems. The benefits of using CO2 refrigeration systems are recognized worldwide as CO2 has a GWP (Global Warming Potential) of 1. The new update allows you to calculate components from the standpoint of an application for transcritical high-pressure side systems.

With the advancements in technology, industrial refrigeration systems have shown enhancement in their processes. Innovations have led to the manufacturing of smart and intelligent devices that monitor, set temperature, and notify the person as and when needed. The incorporation of Artificial Intelligence (AI) in the systems became a breakthrough in the market by enhancing productivity and lowering the operational cost for the organizations.

The industry growth in Asia Pacific is anticipated to observe the fastest growth during the forecast period. This expansion is attributed to the rapid growth prospects of cold-chain storage infrastructure in the countries such as Japan, India, and China. For instance, India is the second-largest fruit and vegetable producer, worldwide. The cold storage and handling the refrigeration of this huge vegetable and fruit produce is a challenging job thus fueling the market growth.

Request a free sample copy or view the report summary: https://www.grandviewresearch.com/industry-analysis/industrial-refrigeration-systems-market

Industrial Refrigeration Systems Market Report Highlights

The compressor segment is the largest growing component in the refrigeration system as they are used in commercial as well as industrial refrigeration, heat pumps, and air conditioning applications

Food and beverage applications accounted for the largest market share due to the growing disposable income and the rising population. It has augmented the demand for frozen and processed food products

The 500-1000kW capacity segment led the industrial refrigeration systems market as they helped extend the shelf life and reduce product wastage

Asia Pacific is the highest-growing region in the market due to the maximum number of fruits and vegetable producers and also a requirement for cold-chain storage

Industrial Refrigeration Systems Market Segmentation

Grand View Research has segmented the global industrial refrigeration systems market market based on component, capacity, refrigerant, application, and region

Industrial Refrigeration Systems Component Outlook (Revenue, USD Million, 2018 - 2030)

Compressors

Rotary Screw Compressor

Centrifugal Compressor

Reciprocating Compressors

Diaphragm Compressors

Others

Condensers

Evaporators

Controls

Others

Industrial Refrigeration Systems Capacity Outlook (Revenue, USD Million, 2018 - 2030)

Less than 100kW

100-500kW

500-1000kW

1000-5000kW

More than 5000kW

Industrial Refrigeration Systems Refrigerant Outlook (Revenue, USD Million, 2018 - 2030)

Ammonia

Carbon Dioxide

Hydrofluorocarbon

Hydrochlorofluorocarbons

Others

Industrial Refrigeration Systems Application Outlook (Revenue, USD Million, 2018 - 2030)

Refrigerated Warehouse

Food & Beverage

Chemical Petrochemical & Pharmaceuticals

Refrigerated Transportation

Industrial Refrigeration Systems Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

S.

Canada

Europe

Germany

K.

France

Italy

Spain

Asia Pacific

Japan

China

India

South Korea

Australia

Latin America

Brazil

Mexico

Middle East and Africa

Saudi Arabia

South Africa

List of the Key Players in the Industrial Refrigeration Systems Market

Johnson Controls

Emerson Electric Co

Dan Foss

DAIKIN Industries Ltd.

GEA Group Aktiengesellschaft

MAYEKAWA MFG Co. Ltd.

BITZER

EVAPCO Inc.

Guntner GmbH & Co. KG

LU-VE S.P.A

Browse Full Report: https://www.grandviewresearch.com/industry-analysis/industrial-refrigeration-systems-market

[industrialresearch]

Global Turbocompressor Market Growth Opportunities Estimated By 2030

In 2020, the global turbocompressor market boasted a substantial valuation of $15.7 billion, a figure set to soar to $29.3 billion by 2030, representing a robust Compound Annual Growth Rate (CAGR) of 6.3% from 2021 to 2030.

Turbocompressors, intricate machines adept at amplifying fuel capacity while harnessing increased engine energy, function as turbo machines employing dynamic principles to concentrate compressible gases. This process involves a continuous inflow of gas into a rotating impeller within the turbocompressor. Here, the mechanical shaft power is efficiently transferred to the fluid via blades, yielding a significant surge in both pressure and temperature.

Subsequently, the remaining kinetic energy is predominantly converted into pressure within the diffusor. The compressed gas is then channeled into a volute or directed to a second compressor stage via a return channel. Renowned for their durability, minimal maintenance requirements, and uninterrupted service, turbocompressors find extensive application in demanding and corrosive environments such as petrochemical plants, refineries, natural gas processing facilities, coal gasification plants, and power stations.

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The pivotal driver of turbocompressor market expansion lies in their indispensable role within the realm of water and wastewater treatment. Turbocompressors streamline operations, enhancing efficiency and minimizing maintenance costs during the crucial process of pollutant removal from wastewater.

Moreover, escalating regulatory standards pertaining to clean energy usage, exemplified by initiatives like the Clean Air Act, propel the global trade of liquefied natural gas (LNG) across various nations, notably the U.S. and Australia. Turbocompressors emerge as indispensable components within LNG applications, meticulously maintaining pressure ratios, thereby catalyzing heightened demand and fostering sustained growth within the turbocompressor market.

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The turbocompressor market is segmented on the basis of type, stage, end user, and region.

On the basis of type, the market is divided into centrifugal and axial. On the basis of stage, the market is divided into single stage and multistage. On the basis of end user, the market is segmented into oil & gas, power generation, chemical, and others.

Regional Analysis:

Region wise, the global turbocompressor market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global turbocompressor market share, and LAMEA is anticipated to secure a leading position during the forecast period.

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Top Players: The major players profiled in the turbocompressor industry include Atlas Copco AB, Elliott Group, General Electric, Howden Group, Ingersoll Rand, Kawasaki Heavy Industries, Ltd., KOBE STEEL, LTD., MAN Energy Solutions, MITSUBISHI HEAVY INDUSTRIES, LTD. And Siemens.

[dh5ryxhgbctgr]

Puerto Rico Industrial Air Compressor Market Landscape and Future Developments 2024 - 2032

The industrial air compressor market in Puerto Rico is a vital segment of the island's manufacturing and service industries. With the growing need for energy-efficient and reliable air compression solutions, this market is evolving to meet the demands of various sectors, including pharmaceuticals, manufacturing, and construction. This article explores the dynamics of the market, highlighting key trends, challenges, and future prospects.

Market Overview

Definition of Industrial Air Compressors

Industrial air compressors are machines designed to convert power into potential energy stored in compressed air, which can be utilized in various industrial applications. These compressors play a crucial role in enhancing productivity and efficiency across multiple sectors, including manufacturing, food processing, and healthcare.

Market Size and Growth

The Puerto Rican industrial air compressor market has been witnessing steady growth, driven by the expansion of industries and a focus on automation and efficiency. The demand for compressed air solutions is particularly pronounced in the manufacturing and pharmaceutical sectors, which are integral to the island's economy.

Key Drivers of Market Growth

Expanding Manufacturing Sector

Puerto Rico's manufacturing industry, particularly in pharmaceuticals and electronics, is a significant driver of the air compressor market. The increasing demand for precision and automation in manufacturing processes necessitates reliable air compression solutions.

Infrastructure Development

Ongoing infrastructure projects across Puerto Rico are boosting the demand for air compressors in construction and related industries. These projects require heavy machinery that often relies on compressed air for optimal performance.

Emphasis on Energy Efficiency

As businesses strive to reduce operational costs and minimize environmental impact, there is a growing preference for energy-efficient air compressors. This trend is supported by regulatory frameworks aimed at promoting sustainability in industrial operations.

Types of Industrial Air Compressors

Positive Displacement Compressors

Positive displacement compressors, including rotary screw and reciprocating types, are the most commonly used in Puerto Rico. Their ability to deliver consistent airflow makes them suitable for various applications, from manufacturing to healthcare.

Dynamic Compressors

Dynamic compressors, such as centrifugal compressors, are becoming increasingly popular in large-scale industrial applications. Their capacity to handle high volumes of air makes them ideal for sectors like petrochemicals and energy.

Market Segmentation

By Application

Manufacturing

Pharmaceuticals

Construction

Food and Beverage

Healthcare

By Region

San Juan

Ponce

Bayamón

Caguas

Challenges Facing the Market

Economic Stability

Puerto Rico has faced economic challenges that can impact industrial investments. Fluctuating economic conditions may lead to hesitancy in adopting new technologies, including advanced air compression systems.

Infrastructure Limitations

While infrastructure development is underway, existing limitations, such as power supply reliability, can affect the performance and efficiency of air compressors. This may deter companies from fully leveraging advanced technologies.

Maintenance and Skilled Labor Shortage

The need for regular maintenance of air compressors is critical for optimal performance. However, there is a shortage of skilled technicians in Puerto Rico, which can lead to increased downtime and operational inefficiencies.

Future Trends

Adoption of Smart Technology

The integration of smart technology, including IoT and automation, is expected to transform the industrial air compressor landscape in Puerto Rico. Smart compressors equipped with sensors can provide real-time monitoring and predictive maintenance, enhancing efficiency.

Focus on Sustainable Solutions

With increasing awareness of environmental issues, there is likely to be a greater emphasis on sustainable air compressor solutions. Companies will seek compressors that minimize energy consumption and comply with environmental regulations.

Growth of Local Manufacturing

The Puerto Rican government is encouraging local manufacturing to boost the economy. This trend may lead to increased production of air compressors locally, reducing reliance on imports and enhancing supply chain resilience.

Conclusion

The industrial air compressor market in Puerto Rico is poised for growth, driven by the expanding manufacturing sector, infrastructure development, and a focus on energy efficiency. Despite challenges related to economic stability and skilled labor shortages, the future outlook remains positive. As industries increasingly adopt advanced and sustainable air compression solutions, there will be significant opportunities for manufacturers and suppliers in this evolving market.

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[tamanna31]

New Study: 2024-2030 Chillers Medical Devices Market Trend and Forecast Report

Chillers Industry Overview

The global chillers market size was estimated at USD 9,928.3 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030.

The market is driven by the rising need for cost-effective and energy-efficient space cooling solutions in commercial and industrial sectors. This, in turn, is expected to augment the demand for the chillers market over the forecast period.

Gather more insights about the market drivers, restrains and growth of the Chillers Market

According to the U.S. Department of Agriculture (USDA), the growing population, rising consumer disposable income, and ongoing urbanization are expected to augment the growth of commercial and residential sector in the country in the forecast period. The demand for chillers in the U.S. residential sectors is driven by a combination of factors, including the need for efficient and reliable air conditioning systems. With a focus on energy efficiency, homeowners are increasingly adopting chillers equipped with advanced technologies and smart controls to ensure precise temperature regulation while minimizing environmental impact. In the commercial sector, the demand for chillers remains robust, particularly in industries such as hospitality, healthcare, and data centres.

Moreover, chillers play a pivotal role in maintaining optimal temperatures for occupant comfort, equipment reliability, and critical processes. The trend towards sustainable building practices and stringent energy efficiency standards further accelerates the adoption of chillers in both residential and commercial applications across the U.S.

The integration of advanced technologies is transforming the global market. Smart chillers, equipped with IoT capabilities, sensors, and predictive maintenance features, allow for remote monitoring and optimization. These technologies enhance overall system efficiency, reduce downtime, and contribute to cost savings. These aforementioned factors are further expected to drive the demand for market over the forecast period.

Global Chillers Market Report Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global chillers market report based on product, application, compressor type, and region

Product Outlook (Revenue, USD Million, 2018 - 2030)

Water-Cooled

<50kW

51-100kW

101-500kW

501-1000kW

1001-1500kW

>1501kW

Air -Cooled

<50kW

51-100kW

101-500kW

501-1000kW

1001-1500kW

>1501kW

Application Outlook (Revenue, USD Million, 2018 - 2030)

Commercial

Corporate Offices

Data Centers

Public Buildings

Mercantile & Service

Healthcare

Others

Industrial

Chemicals & Pharmaceuticals

Food & Beverage

Metal Manufacturing & Machining

Medical & Pharmaceutical

Plastics

Others

Residential

Compressor Type Outlook (Revenue, USD Million, 2018 - 2030)

Screw Chillers

Centrifugal Chillers

Absorption Chillers

Scroll Chillers

Reciprocating Chillers

Regional Outlook (Revenue, USD Million, 2018 - 2030)

North America

US

Canada

Mexico

Europe

UK

Germany

France

Italy

Spain

Russia

Asia Pacific

China

Japan

India

Australia

Thailand

South Korea

Indonesia

Malaysia

Central & South America

Brazil

Argentina

Middle East and Africa

Saudi Arabia

South Africa

UAE

Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.

• The global hardfacing welding market size was estimated at USD 1.73 billion in 2023 and is forecasted to grow at a CAGR of 5.3% from 2024 to 2030.

• The global advanced phase change materials market size was valued at USD 3.01 billion in 2023 and is anticipated to reach a CAGR of 8.2% from 2024 to 2030.

Key Chillers Company Insights

The global market is highly competitive on account of the presence of global and local manufacturers. Companies are engaged in expansion through mergers & acquisitions and joint ventures. These companies offer a wide range of systems that are sold through multiple channels, including distributors, company-owned websites, retailers & their websites, and e-commerce websites. For instance, in May 2023, Trane acquired MTA, an Italian manufacturer and distributor specializing in industrial refrigeration and air conditioning equipment. This strategic acquisition is expected to enhance Trane's commercial HVAC capabilities, particularly in key markets, by incorporating MTA's process chillers and expanding the rental and services business. With manufacturing sites located in Tribano and Conselve and a workforce of approximately 500 employees, MTA has an annual production capacity of 13,500 systems.

Key Chillers Companies:

The following are the leading companies in the chillers market. These companies collectively hold the largest market share and dictate industry trends. Financials, strategy maps & products of these chillers companies are analyzed to map the supply network

Trane

Cold Shot Chillers

Tandem Chillers

Drake Refrigeration, Inc

Refra

Carrier

FRIGEL FIRENZE S.p.A.

Midea

Daikin Industries, Ltd.

Johnson Controls

Rite-Temp

General Air Products

ClimaCool Corp.

Fluid Chillers, Inc.

Multistack International Limited

Honeywell International, Inc

Recent Developments

In December 2022, Trane unveiled its latest offerings, the water-cooled XStream eXcellent GVWF and air-cooled Sintesis eXcellent GVAF chillers. These innovative chillers incorporate magnetic-bearing compressors and utilize the low global warming potential (GWP) refrigerant R1234ze. Equipped with high-speed centrifugal compressor technology, these chillers deliver larger capacities, wider operating maps to meet challenging European climate conditions, and enhanced seasonal efficiencies, all while maintaining a compact size

In April 2021, refrigeration equipment manufacturer Refra initiated production operations at its newly established facility in Vievis, located in close proximity to the capital city, Vilnius, Lithuania. Spanning an area of 12,000 square meters, the factory is situated approximately 40 kilometers northwest of Refra's headquarters in Vilnius. The expansion has resulted in the creation of employment opportunities for an additional 100 individuals

Order a free sample PDF of the Chillers Market Intelligence Study, published by Grand View Research.

[businessindustry]

Water-Cooled Chillers Market Research, Analysis by Trends 2032

The Reports and Insights, a leading market research company, has recently releases report titled “Water-Cooled Chillers Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Water-Cooled Chillers Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Water-Cooled Chillers?

The global water-cooled chillers market size reached US$ 4.8 billion in 2023. Looking forward, Reports and Insights expects the market to reach US$ 5.6 billion in 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.

What are Water-Cooled Chillers Market?

Water-cooled chillers are refrigeration systems utilized to extract heat from liquids by employing water as the cooling agent. These chillers find extensive applications in air conditioning, industrial processes, and large-scale facilities where effective cooling is crucial. The process involves circulating water through a condenser to absorb heat from a refrigerant gas. This gas is subsequently compressed and cooled, generating chilled water for various cooling needs. Known for their efficiency and ability to handle substantial cooling demands, water-cooled chillers are ideal for environments requiring precise temperature regulation and energy conservation.

Request for a sample copy with detail analysis: https://www.reportsandinsights.com/sample-request/1907

What are the growth prospects and trends in the Water-Cooled Chillers Market industry?

The water-cooled chillers market growth is driven by various factors and trends The water-cooled chillers market includes systems that effectively remove heat from liquids using water as a cooling agent. These chillers are vital for applications in air conditioning, industrial processes, and large-scale facilities where efficient cooling is paramount. Growth in the market is fueled by rising demand for energy-efficient cooling solutions, stringent environmental regulations favoring sustainable technologies, and expanding construction and industrial activities. Manufacturers are prioritizing improvements in chiller efficiency, reliability, and environmental sustainability to meet varied customer demands and global regulatory standards. Hence, all these factors contribute to water-cooled chillers market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Type:

Centrifugal Chillers

Screw Chillers

Absorption Chillers

Reciprocating Chillers

Scroll Chillers

Capacity

Small Capacity Chillers

Medium Capacity Chillers

Large Capacity Chillers

End-Use Industry

Manufacturing

Commercial Buildings

Data Centers

Healthcare

Hospitality

Others

Application

Air Conditioning

Process Cooling

Compressor Type

Scroll Compressors

Screw Compressors

Centrifugal Compressors

Reciprocating Compressors

Refrigerant Type

Hydrochlorofluorocarbon (HCFC)

Hydrofluorocarbon (HFC)

Ammonia

Others

Power Source

Electric Chillers

Absorption Chillers

Engine-Driven Chillers

Component

Compressors

Condensers

Evaporators

Control Systems

Others

Sales Channel

Direct Sales

Distributor/Wholesaler

Service Type

Installation and Commissioning

Maintenance and Repair

Consulting and Training

Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

India

Japan

South Korea

Australia

New Zealand

ASEAN

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Rest of Latin America

Middle East & Africa:

Saudi Arabia

United Arab Emirates

South Africa

Egypt

Israel

Rest of MEA.

Who are the key players operating in the industry?

The report covers the major market players including:

Daikin Industries Ltd.

Johnson Controls International plc

Trane Technologies plc

Carrier Global Corporation

Mitsubishi Electric Corporation

York (Johnson Controls)

LG Electronics Inc.

Schneider Electric SE

Climaveneta (Mitsubishi Electric)

Smardt Chiller Group Inc.

McQuay International (Daikin)

Thermax Limited

Multistack International Limited

Frigel Firenze S.p.A.

Broad Air Conditioning Co. Ltd.

Discover more: https://www.reportsandinsights.com/report/Water-Cooled Chillers-market

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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