Water Cooled Chillers Market Summary
Water-cooled chiller systems have a cooling tower, thus they feature higher efficiency than air-cooled chillers.
Water-cooled chillers are more efficient because they condense depending on the ambient temperature bulb temperature, which is lower than the ambient dry bulb temperature. The lower a chiller condenses, the more efficient it is.
According to the new market research report “Global Water Cooled Chillers Market Report 2023-2029”, published by QYResearch, the global Water Cooled Chillers market size is projected to reach USD 4.81 billion by 2029, at a CAGR of 2.7% during the forecast period.
According to QYResearch Top Players Research Center, the global key manufacturers of Water Cooled Chillers include Johnson Controls - Hitachi, Trane (Ingersoll-Rand), Mitsubshi, Carrier, Daikin , LG Electronics, TICA, DunAn, Dunham-Bush, Bosch, etc. In 2022, the global top five players had a share approximately 41.0% in terms of revenue.
In terms of product type, currently Screw Chillers is the largest segment, hold a share of 44.3%.
In terms of product application, currently Commercial is the largest segment, hold a share of 54.1%.
Market Drivers:
With the increasing cost of energy, companies are looking for ways to reduce their energy consumption and cut costs. Water-cooled chillers are energy-efficient and can help companies reduce their energy costs by providing effective cooling without compromising on performance.
Many governments are promoting energy efficiency and sustainability through various policies and initiatives. Water-cooled chillers comply with these policies and can help companies comply with environmental regulations and reduce their carbon footprint.
Restraint:
Water-cooled chillers require high initial investment, especially when compared to air-cooled chillers. This can be a barrier for some companies or industries that may not have the necessary funds or resources to invest in water-cooled chillers.
Water-cooled chillers can generate some amount of water waste and require regular maintenance and servicing to ensure proper operation. Environmental concerns such as water scarcity, water pollution, and resource conservation may impact the adoption of water-cooled chillers.
Opportunity:
The water-cooled chillers market presents numerous opportunities for growth and expansion. With the increasing demand for efficient and reliable cooling systems in data centers and other industries, water-cooled chillers have become a popular choice for meeting these requirements. Additionally, governments are promoting energy efficiency and sustainability, which provides opportunities for water-cooled chillers to comply with environmental regulations and reduce their carbon footprint.
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