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Aquarium Chillers Market Share, Trends, Forecast by 2024-2032 | Reports and Insights
The Reports and Insights, a leading market research company, has recently releases report titled “Aquarium 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 Aquarium 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 Aquarium Chillers Market?
The global aquarium chillers market was valued at US$ 1.7 Billion in 2023 and is expected to register a CAGR of 3.9% over the forecast period and reach US$ 2.40 Bn in 2032.
What are Aquarium Chillers?
Aquarium chillers are specialized cooling devices designed to regulate water temperatures in aquariums, especially for sensitive aquatic life such as reef fish and corals. These chillers function by removing heat from the water, maintaining a stable environment that prevents overheating, which can be harmful to fish and other marine organisms. Typically integrated with the aquarium's filtration system, they utilize a refrigeration cycle to cool the water and can be set to specific temperatures based on the needs of the aquatic species. Essential for both freshwater and saltwater environments, aquarium chillers promote the health and well-being of aquatic inhabitants while also supporting the growth of live plants and corals within the aquarium.
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What are the growth prospects and trends in the Aquarium Chillers industry?
The aquarium chillers market growth is driven by various factors and trends. The aquarium chillers market is experiencing steady growth, fueled by the increasing popularity of home aquariums and heightened awareness of proper aquatic care among both hobbyists and professionals. As more enthusiasts aim to maintain optimal water temperatures for various fish species and coral reefs, the demand for reliable and efficient cooling systems is rising. Technological advancements are also improving the efficiency and performance of aquarium chillers, making them more energy-efficient and user-friendly. Furthermore, the growing trend of aqua scaping and the desire to maintain high-quality aquatic environments are contributing to market expansion. As consumers continue to prioritize the health and well-being of their aquatic life, the aquarium chillers market is expected to grow significantly in the coming years. Hence, all these factors contribute to aquarium chillers market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
By Chiller Type
In-line Chillers
Submersible Chillers
Drop-In Chillers
Thermoelectric Chillers
Others
By Aquarium Size
Small (Up to 20 Gallons)
Medium (20-100 Gallons)
Large (Above 100 Gallons)
By Chiller Capacity
Upto 0.1 HP
1 to 0.5 HP
5 to 1 HP
Above 1 HP
By Sales Channel
Wholesalers/Retailers
Hypermarket/Supermarket
Direct Sales
Specialty Stores
Online Stores
By Application
Freshwater Aquariums
Saltwater Aquariums
Reef Tanks
Public Aquariums
Others
By End Users
Private
Commercial
Aquarium Shops
Public Aquariums
Research Institutes
Zoos
Others
North America
United States
Canada
Europe
Germany
United Kingdom
France
Italy
Spain
Russia
Poland
Benelux
Nordic
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
ASEAN
Australia & New Zealand
Rest of Asia Pacific
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
Saudi Arabia
South Africa
United Arab Emirates
Israel
Rest of MEA
Who are the key players operating in the industry?
The report covers the major market players including:
EHEIM GmbH & Co. KG.
TECO S.r.l
Pentair Aquatic Eco-Systems
Lando Technology Industrial Co., Ltd.
MTA Deutschland GmbH
Penguin Chillers
JBJ Arctica
Fluval Co.
Cobalt Aquatics
Ista Professional Aquarium System
CNCEST
INKBIRD
DaToo
Miumaeov Co.
Anself
Hamilton Technology
Envisys Technologies
Stars Refrigerating Equipment Group Ltd.
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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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Chill Out with Excellence: Leading Water Chiller Manufacturers in India
India's industrial landscape has undergone significant transformation in recent years, with the demand for advanced cooling solutions rising alongside this growth. Water chillers, a critical component in maintaining efficient industrial operations, have become indispensable across various sectors. As industries expand and modernize, the need for reliable, high-performance water chillers has never been more pressing. This surge in demand has spurred the development of a robust water chiller manufacturing industry in India, with numerous companies stepping up to deliver world-class products.
The Vital Role of Water Chillers in Industry
Water chillers play a crucial role in a wide array of industries, including pharmaceuticals, plastics, chemicals, food and beverage, and HVAC (Heating, Ventilation, and Air Conditioning). These machines are tasked with removing excess heat from industrial processes, ensuring a stable temperature environment that is essential for maintaining product quality and operational efficiency. As industries evolve, the precision and efficiency of water chillers have become increasingly important, prompting manufacturers to innovate and refine their products continually.
In India's diverse industrial ecosystem, the demand for chillers that offer not just cooling but also energy efficiency, durability, and low maintenance has driven the market. Manufacturers are responding to these needs by producing chillers that meet rigorous standards and provide reliable performance even under challenging conditions.
Excellence in Engineering and Innovation
Indian water chiller manufacturers have established themselves as leaders in the global market through a relentless focus on engineering excellence and innovation. These companies are dedicated to developing chillers that cater to a broad range of industrial requirements. By leveraging cutting-edge technology and sophisticated design, they produce units that offer precise temperature control, energy efficiency, and long-term reliability.
One of the key factors driving the success of these manufacturers is their commitment to customization. Industries often have unique cooling needs, and Indian manufacturers excel at creating bespoke solutions that address specific operational challenges. Whether it's a large-scale chiller for an industrial plant or a compact unit for a specialized application, these companies have the expertise to deliver high-performance products tailored to the exact needs of their clients.
Meeting Global Standards and Sustainability Goals
The ability of water chiller manufacturers in India to meet global standards is another testament to their capabilities. These companies are increasingly focusing on sustainability, incorporating eco-friendly technologies into their designs. With the growing awareness of environmental impact, there is a strong emphasis on developing chillers that not only reduce energy consumption but also minimize greenhouse gas emissions.
Energy-efficient chillers are in high demand, especially as industries seek to lower operational costs and comply with stricter environmental regulations. Indian manufacturers are at the forefront of this trend, producing chillers that incorporate advanced features such as variable speed drives, high-efficiency compressors, and smart controls. These innovations help in optimizing energy usage and reducing the overall carbon footprint of industrial operations.
The Future of Water Chiller Manufacturing in India
Looking ahead, the future of water chiller manufacturing in India is bright. The ongoing industrial expansion, coupled with increasing environmental concerns, will likely continue to drive demand for advanced cooling solutions. Indian manufacturers are well-positioned to capitalize on this trend, thanks to their strong focus on research and development. By investing in new technologies and exploring innovative solutions, they are set to push the boundaries of what water chillers can achieve.
Moreover, the advent of smart technology is set to revolutionize the water chiller industry. Manufacturers are beginning to integrate IoT-enabled features into their chillers, allowing for remote monitoring, predictive maintenance, and enhanced operational efficiency. This shift towards smart chillers represents the next phase in the evolution of cooling technology, promising even greater reliability and energy efficiency.
Conclusion
The water chiller manufacturing industry in India stands as a testament to the country’s engineering prowess and innovative spirit. As the demand for high-quality, energy-efficient cooling solutions continues to grow, Indian manufacturers are not only meeting but exceeding expectations. Their ability to produce world-class products tailored to the diverse needs of various industries has cemented their position as leaders in the global market. As the industrial landscape continues to evolve, these manufacturers will play an increasingly vital role in supporting the growth and sustainability of industries both in India and around the world.
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LG Electronics Eyes IPO in India to Reach $75 Billion Goal
LG Electronics Inc. is considering an initial public offering (IPO) for its Indian operations as part of its broader strategy to rejuvenate its consumer electronics division and reach its ambitious $75 billion revenue target by 2030. CEO William Cho has highlighted this potential IPO as one of several strategies to bolster the company's performance in the competitive electronics market.
Cho, who has led LG since 2021, indicated that the company is exploring various avenues to drive growth, with the Indian market being a focal point. This marks the first time LG has publicly discussed the prospect of an IPO in India amidst ongoing speculation. Cho's goal is to significantly increase the company's revenue from electronics, aiming for 100 trillion won ($75 billion) annually by the end of the decade. This is a substantial jump from the projected $65 billion in total sales for 2023.
In India, LG's operations have shown robust growth, with revenue rising 14% to a record 2.87 trillion won in the first half of the year, and net income increasing by 27% to 198.2 billion won. The company plans to capitalize on the thriving Indian stock market, which is currently one of the most active global markets with numerous IPOs anticipated this year. Competitors like Hyundai Motor Co. are also preparing significant IPOs in India, underscoring the market's attractiveness.
Cho has noted that LG is closely monitoring the Indian IPO landscape and has not yet determined potential valuations for its Indian operations. He remains cautious, stating, "It is one of many options we can consider" and acknowledging the growing interest from global investors.
In addition to exploring IPOs, LG is focusing on expanding its business in other areas. Cho plans to foster the growth of new ventures, including HVAC systems, which are seeing increased demand due to the rise of AI data centers. LG's chiller sales have surged by 40% annually over the past three years. The company is also enhancing its subscription service for home appliances, which allows customers to rent products like washing machines and laptops. This model is expanding from Korea to other markets, including Malaysia, Thailand, Taiwan, and India, with future plans for the US and Europe. LG expects revenue from this service to grow by 60%, reaching about $1.3 billion in 2024.
Moreover, LG is investing heavily in expanding its free, ad-supported streaming services. Cho announced a $1 trillion investment by 2027 to bolster its webOS-based advertising and content business. His experience with LG across various international markets underscores his commitment to understanding customer needs and developing innovative business models.
Overall, LG's multifaceted strategy, including potential IPOs, new business ventures, and subscription services, reflects its ambition to strengthen its position in the global electronics market.
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HVAC Cables Market Poised to Witness Strong Growth Owing to Rising Demand
The global HVAC cables market is anticipated to witness robust growth owing to expanding construction sector. HVAC cables are used for wiring systems that control the environment inside a building through heating, ventilation, and air conditioning. They are employed in electrical appliances such as air conditioners, heat pumps, furnaces and other related ventilation and air handling equipment. HVAC cables provide transmitting power supply for various components of HVAC systems like blowers, compressors and thermostats. Growing need for temperature and climate control solutions in residential, commercial and industrial spaces has spurred the demand for HVAC equipment and associated cables. Recovery of global construction industry from pandemic induced slowdown has strengthened cable requirements. Moreover, stringent government regulations regarding energy efficiency and indoor air quality have boosted adoption of advanced HVAC technologies further augmenting HVAC cable consumption. The Global HVAC Cables Market is estimated to be valued at US$ 28.14 Bn in 2024 and is expected to exhibit a CAGR of 6.5% over the forecast period 2024 to 2031. Key Takeaways Key players operating in the HVAC cables market are ABB Ltd, Baosheng High Voltage Cable Co. Ltd, Furukawa Electric Co. Ltd, KEC International Ltd, LS Cable & System Ltd., Lutze Inc., Nexans S.A., NKT A/S, Prysmian Group, Prysmian S.P.A, Quanta Services, Inc., SAB North America, Sumitomo Electric Industries, Ltd, TFKable, and ZTT International Ltd. These leaders are investing in new product launches, partnerships and expansions to strengthen their global footprint. Abundant opportunities lie in retrofitting old buildings and upgrading existing HVAC Cables Market Growth infrastructure across developed and developing countries. Governments worldwide are offering subsidies and incentives for energy-efficient retrofits. This is spurring replacement demand for advanced HVAC cables. Key players are eyeing high growth regions like Asia Pacific and Middle East & Africa for global expansion. Regional players are collaborating with international brands for technology and expertise transfers. Countries like China, India and GCC nations are prioritizing infrastructure development which will substantially drive HVAC cable consumption in the coming years. Market Drivers: The major market driver is the rising demand from the expanding construction industry. Growing urbanization and real estate development in emerging nations are driving infrastructure development. Rapid construction of residential, commercial and industrial buildings requires extensive HVAC system installations bolstering cable demand. Market Restrains: Fluctuating raw material prices is a key challenge. Raw materials account for significant share of total HVAC Cables Companies cost. Uncertainty in commodity rates remains a concern for manufacturers. Additionally, exposure to stringent environment protection regulations hampers production flexibility and adds compliance costs.
Segment Analysis The HVAC cables market is dominated by the low voltage sub-segment owing to its wide applications in various industries like residential, commercial and industrial establishments. Low voltage cables find usage in power supply to HVAC equipment like chillers, air handling units, fans, ductwork etc. These cables carry power supply voltages up to 1000V and facilitate efficient distribution of power within HVAC systems. The low voltage segment accounts for over 60% share of the total HVAC cables market driven by its low cost, ease of installation and widespread demand from chillers, fan coil units and related HVAC components. Global Analysis The Asia Pacific region dominates the global HVAC cables market with over 35% share. Countries like China, India, Japan and South Korea have witnessed rapid industrialization and infrastructure development which has spurred the demand for HVAC systems and associated cables. The commercial sector across major Asia Pacific economies has expanded significantly over the past decade, thereby driving HVAC cable usage. North America holds the second largest share and is expected to witness steady gains between 2024-2031 owing to ongoing investments in upgrading HVAC infrastructure of commercial buildings across US and Canada. Meanwhile, countries in Europe such as Germany, UK and France remain important regional markets driven by stringent energy efficiency regulations mandating use of advanced HVAC systems installed with high performance cables.
Get more insights on HVAC Cables Market
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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Best chiller company in india- Reynold India Pvt Ltd
Reynold India Pvt. Ltd. proudly stands as the foremost manufacturer of Process Chillers in India, boasting an extensive presence in over 60 countries worldwide, including prominent markets such as the EU and US. Our comprehensive product line encompasses an array of cutting-edge chillers, each meticulously engineered to meet diverse industrial cooling demands.
At Reynold India, we offer an unparalleled selection of advanced chillers, including the innovative Screw Chillers, adaptable Scroll Chillers, and robust Reciprocating Chillers. Additionally, our portfolio features Customized Chillers tailored precisely to address unique process cooling applications. These bespoke solutions cater to a myriad of specialized requirements, spanning from Brine Chillers, Industrial Chillers, and Oil Chillers to Gas Liquefaction Chillers, Batching Chillers, and more.
With a steadfast commitment to excellence, we prioritize precision engineering and superior craftsmanship in every chiller we produce. Our dedication to quality ensures that each unit delivers optimal performance, reliability, and efficiency, meeting the stringent standards of global industries.
Furthermore, we recognize the importance of versatility in addressing diverse cooling challenges. Whether it's an Air Chiller, Air Cooled Chiller, Cascade Chiller, Water Cooled Chiller, or Hazardous Area Chiller, our product range encompasses solutions for various applications, providing customers with the flexibility they need to succeed in their operations.
Backed by decades of experience and a relentless pursuit of innovation, Reynold India remains at the forefront of the industry, continuously pushing boundaries and setting new benchmarks for excellence. As we expand our footprint globally, we remain committed to delivering world-class chillers and unmatched service to our valued customers, empowering them to thrive in a competitive landscape while contributing to their success and growth.
Reynold India Pvt Ltd is a prominent name in the field of industrial cooling and heating solutions. Established with a commitment to innovation and excellence, Reynold India has emerged as a leader in providing high-quality equipment and services to various industries worldwide. With over three decades of experience, the company has continually evolved to meet the dynamic needs of its customers, offering cutting-edge solutions tailored to their specific requirements.
One of Reynold India's key strengths lies in its extensive range of products, including chillers, heat exchangers, cooling towers, and other related equipment. These products are designed and manufactured using state-of-the-art technology and stringent quality control measures to ensure optimal performance, reliability, and energy efficiency. Whether it's for industrial processes, HVAC applications, or specialized cooling requirements, Reynold India's diverse product portfolio caters to a wide spectrum of industries, including pharmaceuticals, food processing, plastics, chemicals, and more.
Beyond just providing equipment, Reynold India takes pride in offering comprehensive turnkey solutions to its clients. From initial consultation and project planning to installation, commissioning, and after-sales support, the company's team of highly skilled engineers and technicians work closely with customers every step of the way to deliver customized solutions that meet their unique needs and specifications. This customer-centric approach has earned Reynold India a reputation for reliability, professionalism, and excellence in the industry.
Furthermore, Reynold India places a strong emphasis on innovation and sustainability. The company is committed to developing environmentally friendly cooling and heating solutions that minimize energy consumption and reduce carbon footprint. By leveraging the latest advancements in technology and engineering, Reynold India continuously strives to enhance the efficiency and eco-friendliness of its products, helping customers achieve their sustainability goals while maximizing operational performance and cost savings.
In addition to its domestic presence, Reynold India has a strong global footprint, with a network of distributors and partners spanning across various countries. This global reach enables the company to serve clients worldwide, offering them the same level of quality, reliability, and expertise that has made Reynold India a trusted name in the industry. As it continues to grow and innovate, Reynold India remains dedicated to exceeding customer expectations and driving positive change in the world of industrial cooling and heating solutions.
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Industrial Refrigeration Service Market Future Prospects and Trends 2032
The industrial refrigeration service market size was valued at $3.8 billion in 2020, and is estimated to reach $7.1 billion by 2032, growing at a CAGR of 4.9% from 2023 to 2032.
The industrial refrigeration service market is witnessing a surge driven by heightened demand for refrigeration systems across sectors including food and beverages, chemical manufacturing, pharmaceuticals, and others. This increased demand stems from a corresponding rise in product demand within these industries, placing strain on the existing refrigeration system capacities. Consequently, the demand for services such as routine maintenance, repairs, rehabilitation, and other related services has seen a notable uptick.
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Industrial refrigeration services can be broadly categorized into three types: design, installation, and maintenance & repair. As of 2020, the maintenance & repair services segment held the largest market share. However, the design segment is expected to register the highest Compound Annual Growth Rate (CAGR) during the forecast period. Designing an industrial refrigeration system involves a comprehensive analysis of facility refrigeration requirements, strategic planning of system layout, positioning of refrigeration components, and other pertinent activities.
Moreover, installation services encompass the installation of various refrigeration system components such as chillers, compressors, condensers, evaporators, refrigerant tubes, among others. On the other hand, maintenance and repair services encompass a range of activities conducted on already installed refrigeration systems. This includes on-site and remote maintenance, installation of spare parts, and repair of damaged components, ensuring the smooth operation and longevity of the refrigeration systems.
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Industrial refrigeration systems are essential pieces of equipment, especially in the and beverages industry. Activities such as freezing, chilling, and tempering require refrigeration systems. A refrigeration system aids in the production of safe and handy items including frozen foods, ice cream, and ready-to-eat meals. It also aids in maintaining a suitable temperature for food and beverage storage and transportation. Moreover, the necessity of periodic maintenance of refrigeration system to keep it running flawlessly is also a major driver of the market.
Asia-Pacific as a region witnessed a higher demand for industrial refrigeration services in 2020, which helped the region to generate the highest share of revenue that year, the industrial Moreover, the industrial refrigeration service market in LAMEA is anticipated to industrial refrigeration service market forecast by growing with the highest CAGR during the forecast period. The increase in demand for cold storages in countries, such as China, India, Malaysia, and Indonesia has been an instrumental factor for the high market growth in Asia-Pacific.
Key Findings Of The Study
The report provides an extensive analysis of the current and emerging industrial refrigeration service market trends and dynamics.
Depending on services, the maintenance and repair segment dominated the industrial refrigeration service market, in terms of revenue in 2020 and the design segment is projected to grow at a significant CAGR during the forecast period.
By end-user industry, the meat, poultry, and fish segment dominated the industrial refrigeration service market share in terms of revenue generated in 2020.
LAMEA is projected to register the highest growth rate in the coming years.
The key players within the industrial refrigeration service market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the industrial refrigeration service industry.
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Why will Demand for Commercial Air-Conditioners Surge in Asia-Pacific in Future?
The increasing number of construction projects being launched in several countries is one of the major factors responsible for the soaring demand for commercial air-conditioners across the world. According to various reports, the valuation of the global construction sector is predicted to rise from $10.5 trillion to $12.8 trillion from 2017 to 2022. Infrastructure development projects such as those pertaining to metro rail systems, airports, and office complexes require cooling equipment such as commercial ACs.
In India, there are plans to build as many as 100 airports in the next 15 years. Similarly, China intends to construct 216 airports by 2035. The rapid construction of skyscrapers in various cities around the world is also causing a sharp surge in the demand for commercial ACs. As per many reports, 42 skyscrapers are currently being constructed in Chicago, while London is witnessing the construction of 115 skyscrapers.
Besides the aforementioned factors, the surging disposable income of people, especially in the developing nations all over the globe, is also fueling the sales of commercial air-conditioners. This is subsequently driving the expansion of the global commercial air-conditioner (AC) market. According to the forecast of P&S Intelligence, a market research company based in India, the capacity of the market would rise from 17.6 million units to 25.4 million units from 2019 to 2030.
Furthermore, the market is predicted to progress at a CAGR of 3.5% between 2020 and 2030. Variable refrigerant flow (VRF), split units, ducted split/packaged units, room ACs, and chillers are the most widely used types of commercial ACs across the world. Amongst these, the demand for split units was observed to be the highest in the world in the years gone by. This was because these ACs can be used with simply one outdoor compressor for appropriate and effective cooling.
The biggest end users of commercial ACs are hospitality, office & building, transportation, supermarket/hypermarket, government, and healthcare sectors. Out of these, the demand for commercial ACs is predicted to be the highest in the hospitality sector in the coming years. This would be due to the rapid growth in tourism in various countries. According to the United Nations World Tourism Organization (UNWTO), the international tourism industry recorded a growth rate of 7% during 2016–17.
Across the globe, the commercial AC market is predicted to exhibit the fastest growth in the Asia-Pacific (APAC) region in the upcoming years. This would be because the region is home to the biggest construction sector in the world. In addition to this, the soaring population, especially in India and China, is pushing up the requirement for commercial infrastructure, which is, in turn, driving the sales of commercial ACs in the region.
Hence, it can be said with confidence that the demand for commercial ACs would surge all over the world in the coming years, mainly due to the explosive growth of the construction sector and the mushrooming tourism activities around the world.
#Commercial AC Market Share#Commercial AC Market Size#Commercial AC Market Growth#Commercial AC Market Applications#Commercial AC Market Trends
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According to a recent analysis released by FMI, the district cooling industry share is anticipated to reach US$ 63.2 billion by 2033 with an estimated CAGR of 3% for the projected period. The study discovers that the adoption of district cooling is proportionally impacted by the growing demand for energy-efficient cooling technologies.
Rapidly rising temperatures and the long-term profitability of district cooling plants have led to the deployment of district cooling systems throughout the world. However, the report discovers that Asia Pacific has shown exceptional growth in the district cooling sector. A District Cooling Plant concept has gained more support as people become more aware of the need for energy conservation.
The sales of district cooling are likely to rise as the need for energy-efficient technologies rises to meet the ongoing construction boom.
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Continued deployment of viable and sustainable cooling systems to accomplish energy-saving targets and increased production of sustainable building solutions is anticipated to support the district cooling industry.
Furthermore, the growing use of renewable technology, combined with strict regulatory requirements to reduce pollution, would spur the district cooling market growth. Furthermore, severe climate circumstances would encourage district cooling due to rising surface temperature levels in the Middle East, Central Europe, and South Asian nations. Furthermore, over the forecasted period, total demand is increasing.
The population in tropical and hot temperature zones requires cooling to be more comfortable, particularly during the summer. As a result, air conditioner ownership is on the rise in these areas, according to the International Energy Agency (IEA). One of the most advanced markets for district cooling is the Middle East. The Middle East has been experiencing an increase in temperature in the summer, with temperatures exceeding 50 degrees Celsius, necessitating the adoption of district cooling.
When establishing a district cooling system, the limited availability of space for operating construction equipment is a significant construction issue. Other building obstacles include transporting equipment to a particular site and coordinating the efforts of the many contractors. One of the significant issues is ensuring that space for chiller plants and distribution pipelines is available. It isn’t easy to keep a district cooling plant running at near-total capacity all year. All-in-all, the district cooling market size is expected to reach a valuation of US$ 1.2 Billion by 2026.
Key Takeaways:
During the projection period, the electric chillers market is predicted to be the largest segment in the district cooling market by production technology.
During the forecast period, the commercial segment is likely to be the leading proportion in the sales of the district cooling market by application. The expansion of the commercial segment of the district cooling market is predicted to be fuelled by the development of new infrastructure in Middle Eastern countries and the growing requirement for businesses to decrease their carbon footprint.
Asia’s major markets include Japan, India, Malaysia, Singapore, China, and South Korea. The Indian government has outlined ambitious projects like Smart Cities and Smart Grid, which are anticipated to drive the market in the coming years.
Attributed to the increasingly affluent population and increased construction activity, the Middle East and Africa are likely to dominate most of the district cooling market opportunities, particularly in nations like the United Arab Emirates, Saudi Arabia, and Qatar.
Competitive Landscape
As a large pool of players are present in the district cooling market, the nature of the market is fragmented. National Central Cooling Company PJSC (TABREED) (UAE), Emirates Central Cooling System Corporation (EMPOWER) (UAE), Emirates District Cooling, LLC (EMICOOL) (UAE), and Qatar District Cooling Company (QATAR COOL) are the top players in the global district cooling market.
The district cooling companies have been using strategic initiatives such as contracts and agreements, investments and expansions, partnerships, collaborations, alliances, and joint ventures to capture a larger district cooling market share.
Tabreed, a leading district cooling company, signed a significant strategic agreement with the International Finance Corporation (IFC), a World Bank Group member and the world’s largest development agency focused on the private sector in emerging economies, in December 2021. IFC has invested more than USD 321 billion in emerging nations since its founding in 1956.
Empower signed an agreement in November 2021 to acquire Dubai International Airport’s district cooling systems, with a total cooling capacity of 110,000 refrigeration tonnes (RT), for a total value of AED 1.1 billion, using an amalgamation of internal accruals and debt financing from local and international banks with whom Empower has close strategic relationships.
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How ESG Factors Drive Sustainable Growth in the Online Grocery Sector
Grocery CEOs, consumers and grocers envisage online shopping as the next big thing, spurred by technological advancements and greater convenience. The COVID-19 onslaught was partly attributed to online grocery flooding the market. While leading players and startups jumped on the bandwagon, ESG watchdogs were wary of the sustainable impact the industry would have on the planet. Stakeholders are expected to harness gender equality, fair wages, waste reduction, responsible sourcing of farm produce and sound corporate governance.
The ease of browsing, getting items ticked off and quick delivery have been a revelation—a delivery service delivering to multiple homes has negated the need to drive to the store. More than 17 million metric tons of CO2 pollution are attributed to weekly household trips to the grocery store, a report cited by the U.S. EPA claimed. Incumbent players have furthered investments in electric vehicles (EVs) to offset greenhouse gas emissions. In April 2022, India-based Swiggy, a food delivery company, joined forces with EVIFY to enable grocery and food delivery through EVs in Surat, Gujarat.
Industry leaders are likely to emphasize upstream transportation (farm-to-retail) and foster last-mile transportation—pushing for deliveries and offsetting personal trips. Centralized grocery delivery services and fulfillment centers have brought a paradigm shift in minimizing GHG emissions and food loss. State-of-the-art technologies, including predictive analytics, can provide the silver bullet to prevent pilferage and streamline sourcing. Besides, boosting access to affordable and high-quality fresh food, along with the focus on diversity, integrity and transparency, will remain instrumental for a circular economy. Is your business one of participants to the Online Grocery Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices
Kroger and BigBasket Invest in Climate Strategy for a Sustainable Future
The online retail boom and an emphasis on speed and user experience—instant delivery—have disrupted e-commerce business models. Brands with sustainability strategies appeared resilient during the COVID-19 outbreak, banking on online shopping to conserve raw materials and minimize GHG emissions. Kroger is poised to establish a new Scope 3 goal for supply chain emissions reduction in line with its Science Based Targets initiative (SBTi) commitment. The American retail giant has set 2030 sustainable packaging goals, such as using 100% recyclable, reusable and/or compostable packaging.
Amidst emerging climate risks and opportunities, Kroger inferred using infrared refrigerant leak-detection technology in 2,000 stores. Meanwhile, in 2021, Bigbasket, a TATA Enterprise-owned online grocery retailer, teamed up with New Leaf Dynamic to install a biomass-powered chiller that can save 186 tons of CO2 annually. The Indian giant cited in its Green Report 2022 that it produced 5,457,000 kWh of solar power (reducing 1,670 tons of GHG emissions) in 2022 and 5,458 electric delivery vehicles helped minimize 7012 tons of CO2 emissions during the period.
Amazon Fresh Navigates Changing Social Landscape
Amidst rampant layoffs and the prevalence of workplace injuries, grocery warehouses and fulfillment centers have prioritized the social pillar. In January 2023, Amazon announced over 18,000 job cuts, denting workers across industry verticals, including grocery stores. People employed as supply chain managers, program managers, software engineers and store designers bore the brunt in online grocery delivery and fresh stores businesses. That said, the American behemoth inferred in May 2023 that it had poured CDN 25 billion since 2010 in its Canadian operations, including job creation and establishment of data centers and fulfillment centers. In September 2021, the U.S. giant committed USD 1.2 billion to offer 300,000 employees education and skills training programs till 2025.
Incumbent players have upped investments to make the workplace safer and foster a healthy environment. Amazon has a team of health coordinators, physiotherapists and advisors. The occupational doctors perform medical checks and report trends in major risk areas.
The U.S. e-commerce company has augmented diversity, equity and inclusion (DEI) efforts to underscore its sustainability quotient. In 2021, it committed to a 30% rise year over year in hiring U.S. black employees in level 4 through level 7 from the preceding year’s hiring. The multinational company warrants 100% of employees to take inclusion training.
Governance Key for Relentless Sustainable Goals of Rakuten and Walmart
Sound corporate behavior is second to none for an agile business process and an inclusive global system that complements ethical business practices. Rakuten creates a list of ESG themes with the assistance of external experts and refers to the UN Sustainable Development Goals and Sustainability Accounting Standards Board (SASB) Materiality Map.
The Japanese company has appointed Chief Compliance Officer (CCO) to undergird compliance management. It has banked on a risk-based approach to define high-risk issues and implement measures, such as prevention of money laundering and terrorist financing; prohibition of bribery and corruption; and adherence to competition, antitrust and other related laws.
Rakuten has propelled board diversity—outside directors account for 58.3% of the BoD, while 25% are foreign directors. Meanwhile, Walmart expects Board members to disclose their race/ethnicity and gender annually. Its board had 27% women and 18% directors who are racially/ethnically diverse (as of April 2023).
Millennials and Gen Z want the e-commerce sector to foster social contributions, operate in a responsible supply chain and bolster transparency. ESG reporting could be pronounced, prompting online incumbents to further their investments in sustainability. Grand View Research anticipates the global online grocery market size to depict upward growth through 2030. Investments in the circular economy can create momentum and be a differentiating factor in an ever-growing competition in the online grocery business.
Related Reports:
Real-time Payments Industry ESG: https://astra.grandviewresearch.com/real-time-payments-industry-esg-outlook
Digital Payments Industry ESG: https://astra.grandviewresearch.com/digital-payments-industry-esg-outlook
Business Process Outsourcing Industry ESG: https://astra.grandviewresearch.com/business-process-outsourcing-industry-esg-outlook
About Astra – ESG Solutions by Grand View Research
Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.
Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.
For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research
#Online Grocery Industry ESG#ESG Report#Online Grocery Industry#Online Grocery Market#ESG#online grocery industry sustainability
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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.
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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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Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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#Water-Cooled Chillers Market Size#Water-Cooled Chillers Market Share#Water-Cooled Chillers Market Demand#Water-Cooled Chillers Market Analysis
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process chillers manufacturers in ahmedabad
process chillers manufacturers in ahmedabad
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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.
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HVAC Actuators In-Depth Profiling With Key Players and Recent Developments, Forecast Period: 2021-2031
Hvac Actuators Market Research, 2031
The global hvac actuators market size was valued at $3.9 billion in 2021, and is projected to reach $6.2 billion by 2031, growing at a CAGR of 4.6% from 2022 to 2031.The dampers are managed by actuators in HVAC chillers. The actuator positions the damper anywhere between fully open and fully closed by using a low-voltage signal. Zone dampers are a crucial component of an HVAC system, and without suitable actuators, the dampers won’t operate at all.
Increase in commercial construction activities has led to a surge in demand for heating and cooling equipment in various industries, which is anticipated to boost the demand for HVAC actuators. For instance, the commercial construction industry in India is expected to witness growth by nearly 4.0% from 2016 to 2022. All such instances are anticipated to contribute toward the growth of the HVAC actuators market. Moreover, rise in population and per capita income is creating demand for appliances such as heaters and air conditioners is driving the demand for HVAC actuators for such equipment. In addition, urban population is growing rapidly. As per the estimates and forecasts of the WHO, the global urban population is expected to grow by approximately 1.84% every year until 2020, which is at the rate of around 1.63% per annum from 2020 to 2025, and around 1.44% per annum from 2025 to 2030.
The HVAC actuators market is segmented on the basis of type, technology, application, and region. By type, the market is divided into spring return HVAC actuator, and non-spring return HVAC actuator. By technology, the market is divided into smart and conventional. By application, the market is segmented into commercial building, industrial facilities, and public utilities.
Region-wise, the HVAC actuators 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).
COMPETITION ANALYSIS
The major players profiled in the HVAC actuators market include Continental AG, Denso Corporation, Dwyer Instruments Inc, Electro Craft Inc., Honeywell International Inc., Johnson Controls International plc., Robert Bosch GmbH, Rotork Plc., Schneider Electric SE, Siemens AG.
Major companies in the market have adopted product launch, acquisition and partnership as their key developmental strategies to offer better products and services to customers in the HVAC actuators market.
Some examples of acquisition and partnership in the market
In December 2021, Dwyer Instruments portfolio company of Arcline Investment Management has acquired the Universal Flow Monitors, Inc. a leader in the design, development, and manufacture of flow meters and controls in industrial applications. by means of this acquisition expand the portfolio of HVAC system.
In April 2021, Arkamys and Continental has colloborated to develop automotive audio solutions where Continental sound actuators were installed in a demonstration vehicle originally equipped with conventional commodity speakers. Arkamys combined its sound enhancement software with various loudspeaker and actuator configurations. The demo car features various sound reproduction systems, and manufacturer-friendly perks, like scalability, space and weight savings, reduced components, and concealed integration.
In July 2021, Audax Private Equity has collobrated to Partners Group to sell Reedy Industries, commercial heating, ventilation, and air conditioning (HVAC).
Full Report With TOC:-https://www.alliedmarketresearch.com/hvac-actuators-market-A09693
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Sattva Group- Expanding Horizon In The Real Estate Realm
Sattva Group- established in 1993, supported by a diverse portfolio has emerged as a highly esteemed construction company in the present era. Headquartered in Bangalore, the company has extended its strong influence to cities like Hyderabad, Coimbatore, Goa, Kolkata, Pune, and Mumbai. Built on the bedrock of 3 decades of trust and innovation, Sattva Group focuses on creating sustainable and community-driven residential and commercial spaces.
Expanding its footprints across the country, Sattva Group has to its credit, 69 million square feet of completed spaces, while currently having 28 million sq. ft. in progress and an additional 39 million sq. ft. in the pipeline. Some of the remarkable projects include Sattva Bliss, Sattva Greenage, Sattva Luxuria etc.
The Group pioneered its legacy in building futuristic Tech Parks, and Sattva Knowledge City is its flagship project, located in Hyderabad. This impressive project gained the trust and confidence of consumers which paved the way for its endeavour into the realm of residential real estate as well. Sattva Global City, another noteworthy undertaking, propelled the Sattva Group as a pioneering force in the industry. This project has been hailed as the future of green tech parks in India due to its exceptional innovation and state-of-the-art measures aimed at reducing carbon emissions within the park.
Acquisition of the Global Village Tech Park
The Sattva’s latest news is that just before the pandemic in March 2023, Sattva Group and the Blackstone Group jointly acquired office space, the ‘Global Village Tech Park’ (now Sattva Global City) in Mysore Road, Bengaluru, earlier owned by Coffee Day enterprises. The Park comprises an overall 15 million sq ft of built-up space that houses IT/ITES, including an operational SEZ and is strategically set across 100 acres on Mysore Road, Bengaluru. This acquisition, in collaboration with global private equity firms like Blackstone and Apollo, reinforces the Sattva Group's stature as a successful real estate company and positions it as a major player in the industry.
Diversification and Market Penetration
With Global City Tech Park, Sattva Group diversified its real estate portfolio and expanded its market reach. Since its inception, Sattva Group has built a strong reputation in residential, commercial, and hospitality projects. With the addition of Sattva Global City, the Group ventured into the integrated township segment.
Enhanced Brand Image and Trust
Sattva Global City has established itself as a trusted and renowned project, known for its quality construction and meticulous planning. By building such a prestigious project with futuristic features, the Sattva Group garnered the trust and confidence of existing customers while attracting new ones. This further fueled the Group's growth and positioned them as a pioneer in real estate expansion. It not only provided the Sattva Group with tangible assets but also enhanced its brand image and reputation.
The Sustainable Trajectory of Greens
Sattva Group catapulted itself as a prominent player in the real estate industry by amalgamating innovation and sustainability in all its Projects, especially the tech parks. Sattva Global City in Bangalore, off Mysore Road, is a one of its kind Tech Park in the city that prioritises sustainability with measures in place to keep the environment clean and green. From organic natural trails to pedestrian walkways and green corridors, it is committed to creating a sustainable environment and practising stringent sustainable measures to decarbonise the area. Some notable measures include treated water used for watering plants, toilet flush and AC chiller plants, Hydro Pneumatic System for water distribution across the park and rainwater harvesting along with maintaining 100 acres of lush green landscape.
The Best of Both Worlds
Through the Global City and its integrated township concept, Sattva Group brings together the best of both worlds by combining the workplace with urban living. This innovative approach offers a synergy of convenience and productivity.
Out and out, the addition of Global City into the Sattva family served as a transformative catalyst for the Group, propelling them as pioneers in real estate expansion. By harnessing the potential of Sattva Global City, the Sattva Group cemented its position as a visionary real estate developer, setting new benchmarks in the industry.
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