LeapZipBlog: Amanpreet's blog: Process Chillers Market Booming Trends and Forecast Assessment for the Period 2019 – 2029

Process Chillers Market Booming Trends and Forecast Assessment for the Period 2019 – 2029

September 26, 2019 by Amanpreet  

Water-Cooled Process Chillers to Gain Traction During the Forecast Period

Owing to properties such as low power consumption and excellent cooling efficiency, the demand for water-cooled process chillers is expected to gain traction in the forecast period. Process chillers are heat sensitive devices and require efficient heat active cooling, which can reduce its heat sink thermal resistance below safety limits. Cooling towers used in water cooled process chillers are compact in size, and it caters to higher cooling efficiency for end-use products. Drawbacks of using air-cooled process chillers in industries, are dust particles entering the equipment, noise and a large area, which can be completely eliminated by implementing water cooling. Owing to its financial, as well as operational advantages, water-cooled industrial chillers are expected to gain more popularity than air-cooled industrial chillers, during the forecast period.

Get Report Sample Copy @ https://www.factmr.com/connectus/sample?flag=S&rep_id=1904

Strict Regulations on the Use of Plastic Hampering the Overall Sales of Process Chillers

The global push to reduce the use of plastic is paving the way for a strict regulatory framework on the use of plastics. Production processes that involve plastic is monitored carefully, especially in Europe. Such regulation affects the growth of injection and blow molding processes in various end-use sectors, which directly hampers the demand for process chillers in the market. On the other hand, the demand for process chillers in developing countries such as China and India are foreseen to auger well owing to the ever-growing demand for plastics processing. The East Asia process chillers region has witnessed significant growth in the past couple of years and will maintain the same trend over the forecast period.

Upsurge in Processed Food Utilization to Augment Sales of Process Chillers in the Food & Beverages Industry

Changing lifestyle and dietary habits of consumers across the globe are creating rising demand for easy-to-cook or ready-to-eat food products. As packaged and processed food products are convenient to carry, cook, preserve and eat, consumers are preferring to purchase these products over fresh foods. Advanced technologies are being employed by manufacturers to improve taste, color, flavor, and nutritional values of processed foods, which support the industrial growth prospect for process chillers. Increasing consumer demand for a variety of packaged food and beverages is mainly contributing to the growth of the food industry. Fats and oils being among its primary ingredients, the high consumption of processed food products and beverages are expected to trigger the growth of the global process chillers market.

Technological Progressions to Impact the Process Chillers Market in the Foreseeable Future

Industry 4.0 is the proliferation of the fourth industrial revolution, which is a drift towards automation and data exchange in manufacturing technologies such as the industrial internet of things (IIOT). The continuous changing technology and increasing number of data centers across the globe are foreseen to create demand for process chillers over the forecast period. Growing preference for customized process cooling solutions among various end-use industries is forcing key manufactures to provide effective solutions based on the desired need. The selection of the right configuration of process chillers for an optimized performance output could be a perplexing process. Intelligent process cooling is foreseen to witness a paradigm shift especially in the beverages production. Selection of the right process chiller allows the manufacturers to attain considerable operational efficiencies that contribute directly to the bottom line, while helping to improve plant safety and address the ongoing need to demonstrate environmental stewardship. The growing need for efficiencies, sustainability and safety is indirectly forcing process chillers manufacturers to increase their focus on taking the advanced approach towards the effective process cooling methods. Process chillers manufacturers are continuously focusing on bringing new solutions for enhanced and cost effective operations based on the changing process cooling demand in various end-use sectors.

Browse Complete Research Report with TOC @ https://www.factmr.com/report/1904/process-chillers-market

East & South Asia Collectively Foreseen to Offer Noteworthy Growth Potential

East & South Asia hold a significant share in the global process chillers market. An optimistic scenario of various end-use industries such as plastics is foreseen to auger well the global demand for process chiller over the forecast duration. The South Asia process chillers market is foreseen to keep a significant share in South Asia by the end of 2029 trailed by East Asia. The price for process chillers varies a lot across the globe, however in Asian countries it appears to be a bit low due the presence of small players in the region. High cost of water cooled process chillers in Europe and North America could be a potential threat for the process chillers market in these regions as the cost of process chillers is higher, owing to which it is less preferred by small scale industries. Developments in manufacturing industries are assisting process chiller manufacturers in developing products, which can quickly acclimatize to varying cooling needs of pharmaceutical and chemical industries while providing financial feasibility. The expansion of novel products is foreseen to cause extensive acceptance of process chiller in pharmaceutical, plastics, and chemicals industries.

Amalgamation of Industrial Chillers for End-Use Industries to Drive Innovations in Process Chillers Market

Manufacturers of process chillers are keenly involved in accommodating the surge in demand for chilling systems for manufacturing applications. The demand for water cooled process chillers is rising gradually for numerous industrial processes. Well aware of the ongoing industrial dynamics, leading process chillers manufacturers are involved in strengthening their growth and production capacities. With the enduring amalgamation of the industrial chilling landscape, the sector is foreseen to witness innovation that will further complement suppleness and suitability in cooling technology. Many leading manufactures are investing significantly in R&D endeavors to retain their market position in the global process chillers market.

The competitive landscape section of the process chillers market delivers the most insightful information regarding key players in the global process chillers market. The market for process chillers is estimated to grow over the forecast period as new contenders are rising and competition with existing players is expected to increase in the next ten years.

Some of the key industries leading the global process chillers market are investing significantly on integration of advanced technology, effective design, and workflow to enhance the overall price to performance ratio of process chillers.

In Jan 2019, Trane, a leading player in the process chillers market, announced the launch of three new process chillers using refrigerant R1234ze. Trane claims that the compressor technology used in process chillers makes it 38% more efficient, making the product compliant with Eco-design regulations. Additionally, the company claimed that the refrigerants used in the system had almost no global warming potential (GWP).

In order to gain a competitive edge in the process chillers market, Daikin announced the launch of its new chiller witness tests in its newly opened facility in Italy, in August 2018. Daikin plans to use chiller witnessed tests programs to showcase its products performance under varying climatic conditions and to develop an extensive consumer base.

To capitalize on the growing demand for eco-friendly, energy-efficient, and high-performance process chillers in end-use industries, in October 2018, GEA Group launched the first-ever process chiller. It was equipped with semi-hermetic compact screw processor, named BluQ. The company claimed that BluQ utilizes small amount of ammonia to produce desired cooling efficiency, making the system a highly environment-friendly product.

In June 2018, Carrier Corporation revealed that the company is supplying process chillers for the new Elizabeth metro Line in London. A total of fifteen AquaSnap air-cooled liquid chillers from Carrier helps to meet the underground cooling needs of the project under development.

Some of the leading players operating in the global market for process chillers, include Carrier Corporation (UTC), Johnson Controls International plc., GEA Group AG, Daikin Industries, Ltd and Blue Star Ltd., among other market players.

Analysts’ Viewpoint

A comprehensive view of the process chillers market has led our analysts to conclude that, the market is growing at a considerable rate, with East Asia, Europe, and South Asia holding a significant share in the global demand for process chiller. The rising processed food sector and plastic industry in developing economies such as China & India which is foreseen to bolster the process chillers demand in the foreseeable future. Owing to better price to performance ratio and suitability for large capacity applications, water cooled process chillers is expected to remain dominant over air cooled process chillers. Effective integration of design and work flow by various process chillers manufacturers will also give impetus to the global process chillers market.

Send an Enquiry @ https://www.factmr.com/connectus/sample?flag=AE&rep_id=1904

Technological developments such as increasing efficiency of process chillers, long lifespan, and aftermarket services could provide timely succor as a cost effective and time saving strategy thereby increasing profit margins for market players. Companies with R&D abilities and technological competence will gain impetus and effectiveness in the process chillers market. Leading companies who are leveraging technology will continue to grow exponentially and have a considerable market revenue share. However, high installation and maintenance cost could hamper the growth of the process chillers market.

About Fact.MR

Fact.MR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market research reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.

Contact Us

Mr. Rohit Bhisey
Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com

Web: https://www.factmr.com/