Screw driven chillers house a screw compressor to compress air, refrigerant, or other fluids. A screw chiller comprises a female helical screw and a male helical screw. Both these screws are mechanically engaged with each other and rotate simultaneously. This rotation gradually compresses the fluid as it moves from one end of the cylinder to the other end.
A rise in demand for process cooling in industrial applications owing to features such as energy efficiency, variable speed, environment friendly, compact size and minimal maintenance cost, drives the growth of the market. An increase in urbanization and industrialization in emerging countries such as Germany, France, U.S., and others, propel the growth of the screw chillers market globally. In addition, an increased preference for district cooling systems in many industries and commercial buildings is anticipated to provide lucrative opportunities for the growth of the market. For instance, according to the World Bank Group, the conventional cooling devices accounted for around 10% of global greenhouse gas emissions, and emission from cooling is expected to increase two-fold by 2030. All such factors are expected to boost the growth of the screw chillers market.
The market is segmented on the basis of product type, compressor type, end-user industry, and region. On the basis of product type, the market is divided into air cooled chiller and water-cooled chillers. On the basis of compressor type, the market is divided into single and dual and twin. On the basis of end-user industry, the market is divided into food and beverage, chemical and petrochemicals, pharmaceutical, oil and gas and others. Region-wise, the global market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
COMPETITION ANALYSIS
The key players that operate in the screw chillers market are Carrier Global Corporation, Dunham Bush, EUROKLIMAT S.P.A., Haier Group, Johnson Controls, LG Electronics, McQuay Air-conditioning Ltd., Mitsubishi Electric Corporation, Robert Bosch GmbH, Trane Technologies Company LLC.KEY BENEFITS FOR STAKEHOLDERS
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the screw chillers market analysis from 2021 to 2031 to identify the prevailing screw chillers market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the screw chillers market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global screw chillers market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Product Type
- Air Cooled Chiller
- Water-Cooled Chiller
By Compressor Type
- Single
- Dual and Twin
By End User Industry
- Food and Beverage
- Chemical and Petrochemicals
- Pharmaceutical
- Oil and Gas
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Italy
- UK
- France
- Rest Of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- Rest Of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Carrier
- Dunham Bush
- EUROKLIMAT S.P.A.
- Haier Group
- Johnson Controls
- LG Electronics
- McQuay Air-conditioning Ltd.
- Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A
- Robert Bosch GmbH
- Trane Technologies plc
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Table of Contents
Executive Summary
According to the report, titled, “Screw Chillers Market," the screw chillers market size was valued at $4.6 billion in 2021, and is estimated to reach $6.5 billion by 2031, growing at a CAGR of 3.4% from 2022 to 2031.Screw chillers consists of two helical slotted rotors, a convex flap and concave groove. It is housed in a fixed casing and move simultaneously. It consists of and evaporator, expansion valve, refrigerant, internal piping and controls. It used for cooling solutions in air conditioning systems as well as industrial processes. They are compact and lightweight chillers available with a cooling capacity ranging from 20 tons to 1,000 tons.
Rise in demand for process cooling in industrial applications is one of the factors driving the demand of screw chillers, due to their variable speed, environment-friendly, compact size, and minimal maintenance cost, and high energy efficiency drives the growth of the screw chillers market. In addition, it is suitable for high-rise buildings and increasing adoption of screw chillers in commercial refrigeration, increasing use of external data sources, and rapid adoption of advanced analytics and visualization are the factors contributing toward the screw chillers market growth across the globe.
Major players have adopted product launch and acquisition as a key strategy to sustain the competition and improve the product portfolio. For instance, in May 2022, Carrier launched the innovative Aqua Edge 19MV oil-free water-cooled centrifugal chiller designed to deliver reliable performance, incredible efficiency, easy installation and a wide operating range. This launch will add enrichment to its product line.
Asia-Pacific registered highest share of the global screw chillers market share in 2021, owing to Increase in industrialization and rapid urbanization in countries such as China, India, Vietnam, and Indonesia boost the growth of construction activities, which in turn leads to rise in demand for screw chillers.
However, during the COVID-19 pandemic, various manufacturers in the screw chillers market had to stop their business in countries such as China, the U.S., and India. This break directly impacted the sales of screw chillers companies. In addition, lack of manpower and raw materials also constricted supply of equipment of screw chillers, which negatively influenced the growth of the market. However, reopening of production facilities and introduction of vaccines for coronavirus disease are anticipated to lead to re-opening of screw chillers companies.
Key Findings of the Study
- The report provides an extensive analysis of the current and emerging global screw chillers market trends and dynamics.
- Depending on product type, the water-cooled chillers segment has dominated the screw chillers market, in terms of revenue in 2021 and air-cooled chiller is projected to grow at a significant CAGR during the forecast period.
- By end-user industry, the chemical and petrochemical segment has registered highest revenue in 2021.
- Asia-Pacific is projected to register highest growth rate in the coming years.
- The key players within the global screw chillers market are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the screw chillers industry.
- The screw chillers market forecast analysis from 2022 to 2031 is included in the report
- In-depth global screw chillers market analysis is conducted by constructing estimations for the key segments between 2022 and 2031.
Companies Mentioned
- Carrier
- Dunham Bush
- Euroklimat S.P.A.
- Haier Group
- Johnson Controls
- Lg Electronics
- Mcquay Air-Conditioning Ltd.
- Mitsubishi Electric Hydronics & It Cooling Systems S.P.A
- Robert Bosch GmbH
- Trane Technologies plc
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 220 |
Published | August 2022 |
Forecast Period | 2021 - 2031 |
Estimated Market Value ( USD | $ 4637.5 million |
Forecasted Market Value ( USD | $ 6501.2 million |
Compound Annual Growth Rate | 3.4% |
Regions Covered | Global |
No. of Companies Mentioned | 10 |