Europe Chillers Market Forecast to 2030
Europe Chillers Market Forecast to 2030 – Regional Analysis – by Technology (Air-Cooled, Water-Cooled, and Steam-Fired), Type (Process Chillers, Scroll Chillers, Screw Chillers, Centrifugal Chillers, Absorption Chillers, Modular Chillers, and Reverse Cycle Chillers), and Application (Commercial, Industrial, and Residential)
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Description
Economic Growth in Countries Across the World Boosts Europe Chillers Market
The improving economic conditions across the globe coupled with urbanization has led to the growth in the industrial sector. There has been a rise in the construction of medical centres, malls, complexes, hotels, commercial buildings, and manufacturing facilities, which propels the demand for HVAC chillers. Urbanization has changed the lifestyle of the people and increased the inclination towards safety and security. Technological developments along with the modifications in government and organizational regulations for temperature control contributes towards the growth of the Chiller market. The demand for chillers required in medical sector is anticipated to grow further. Urbanization and growing population in European countries are driving factors for growth of chillers market in this region. As per the United Nations reports, urbanization in Europe is supposed to rise by ~83.7% by 2050. According to EEA, 75% of population in EU prefers to stay in urban areas. Surging disposable income, temperature concerns, and spending on comfort and luxury are a few factors that drive the growth of the global Chillers market.
Europe Chillers Market Overview
The chillers market in Europe is sub segmented into France, Germany, Russia, Italy, the UK, and the Rest of Europe. Western European countries are more developed and technologically advanced than Nordic and Eastern European countries. The market growth in the region is largely attributed to the growing demand for HVAC chillers in hotels, restaurants, food and beverages industry, office buildings, and medical centers. The rising adoption of green building technologies is further expected to fuel the chillers market growth in Europe. The green buildings are known to have energy-efficient operations, lower carbon footprints, and reduced environmental impact, which is encouraging residential and commercial developers, and governments to invest in this technology. Subsequently, the demand for HVAC systems is expected to increase with the rise in application of renewable energy for heating and ventilation of premises. The surge in demand for frozen food, increase in number of data centers, and high demand for district cooling, coupled with growing application areas of scroll chillers across the industrial sector, is further contributing to the Chillers market growth in Europe. Furthermore, the rising consumption of wines in Europe such as Australian wines, growth in the number of grocery stores, and surge in food delivery services is expected to drive the growth of the Europe chillers market. Continuous proliferation of the tourism industry in Europe also adds to the demand for district cooling systems such as HVAC chillers in new hotels and public infrastructure construction projects.
Europe Chillers Market Revenue and Forecast to 2030 (US$ Million)
Europe Chillers Market Segmentation
The Europe chillers market is segmented into technology, type, application, and country.
Based on technology, the Europe chillers market is segmented into air-cooled, water-cooled, and steam-fired. The air-cooled segment held the largest share of the Europe chillers market in 2022.
In terms of type, the Europe chillers market is segmented into process chillers, scroll chillers, screw chillers, centrifugal chillers, absorption chillers, modular chillers, and reverse cycle chillers. The screw chillers segment held the largest share of the Europe chillers market in 2022.
Based on application, the Europe chillers market is segmented into industrial, commercial, and residential. The industrial segment held the largest share of the Europe chillers market in 2022.
Based on country, the Europe chillers market is segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe. Germany dominated the Europe chillers market in 2022.
LG Electronics Inc, Mitsubishi Electric Corp, Carrier Global Corp, Daikin Industries Ltd, Thermal Care Inc, Trane Inc, Kaltra, and Airedale International Air Conditioning Ltd are some of the leading companies operating in the Europe chillers market.
Summary Info
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According to the Research Team research, the Europe chillers market was valued at US$ 1,859.54 million in 2022 and is expected to reach US$ 2,777.45 million by 2030, registering a CAGR of 5.1% from 2022 to 2030. Rising demand from various industries and increasing number of data centers are among the critical factors attributed to the Europe chillers market expansion.
Rise in the count of data centers is anticipated to drive the growth of chillers market in near future all over the world. Data centers need a lot of energy, and the main driver of data center design engineers’ work is to offer reliable, energy-efficient, and cost-effective HVAC systems. The newest commercial chiller equipment provides proven reliability, competitive energy performance and integral controls in a modular package without the requirement for water. Efficiency is a crucial factor while selecting the chiller for the data center. So, when it comes to finalizing the chiller for this application, the selection of a unit having the right compressor is a primary task. In data centers, free cooling does not always need an extremely cold climate. Whenever the outdoor temperature is sufficient cold, these chillers turn off the compressors and take advantage of the favorable outdoor temperature. Now-a-days, many companies are outsourcing their data operations to the third-party providers which have got expertise in data center operations. Colocation data centers are particularly famous because they offer power, physical space, and cooling systems for local communication systems.
On the contrary, less efficiency in humid environment and high maintenance cost hamper the Europe chillers market.
Based on technology, the Europe chillers market is segmented into air-cooled, water-cooled, and steam-fired. The air-cooled segment held 51.6% share of Europe chillers market in 2022, amassing US$ 958.95 million. It is projected to garner US$ 1,396.71 million by 2030 to expand at 4.8% CAGR during 2022-2030.
In terms of type, the Europe chillers market is categorized into process chillers, scroll chillers, screw chillers, centrifugal chillers, absorption chillers, modular chillers, and reverse cycle chillers. The screw chillers segment held 39.5% share of Europe chillers market in 2022, amassing US$ 734.68 million. It is projected to garner US$ 1,142.85 million by 2030 to expand at 5.7% CAGR during 2022-2030.
Based on application, the Europe chillers market is segmented into industrial, commercial, and residential. The industrial segment held 50.4% share of Europe chillers market in 2022, amassing US$ 937.86 million. It is projected to garner US$ 1,329.35 million by 2030 to expand at 4.5% CAGR during 2022-2030.
By country, the Europe chillers market has been categorized into France, Germany, Italy, the UK, Russia, and the Rest of Europe. Our regional analysis states that Germany captured 24.7% share of Europe chillers market in 2022. It was assessed at US$ 459.19 million in 2022 and is likely to hit US$ 633.38 million by 2030, exhibiting a CAGR of 4.1% during 2022-2030.
Key players operating in the Europe chillers market are LG Electronics Inc, Mitsubishi Electric Corp, Carrier Global Corp, Daikin Industries Ltd, Thermal Care, Inc, Trane Inc, Kaltra, and Airedale International Air Conditioning Ltd, among others.
In Apr 2021, rapidly expanding refrigeration and air conditioning wholesaler, TF Solutions, is stocking Mitsubishi Electric products in all its branches. These products include e-series chillers, heat pumps, air handling units etc.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in Europe chiller market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth Europe market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Europe Chillers Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 Europe
4.3 Ecosystem Analysis
5. Europe Chillers Market – Key Industry Dynamics
5.1 Chillers Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Rising Demand from Various Industries
5.2.2 Increasing Number of Data Centres to Boost Market Growth
5.3 Market Restraints
5.3.1 Less Efficiency in Humid Environment and High Maintenance Cost
5.4 Market Opportunities
5.4.1 Economic Growth in Developing Countries Across the World
5.5 Future Trends
5.5.1 Development of IoT enabled HVAC Chillers
5.6 Impact of Drivers and Restraints:
6. Chillers Market – Europe Market Analysis
6.1 Chillers Market Revenue (US$ Million), 2022 – 2030
6.2 Chillers Market Forecast and Analysis
7. Europe Chillers Market Analysis – Technology
7.1 Overview
7.1.1 Chillers market, By Technology (2022 and 2030)
7.2 Air-Cooled
7.2.1 Overview
7.2.2 Europe Air-Cooled Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Water-Cooled
7.3.1 Overview
7.3.2 Europe Water-Cooled Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Steam-Fired
7.4.1 Overview
7.4.2 Europe Steam-Fired Market Revenue and Forecast to 2030 (US$ Million)
8. Europe Chillers Market Analysis – Type
8.1 Overview
8.1.1 Europe Chillers market, By Type (2022 and 2030)
8.2 Process Chillers
8.2.1 Overview
8.2.2 Europe Process Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Scroll Chillers
8.3.1 Overview
8.3.2 Europe Scroll Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Screw Chillers
8.4.1 Overview
8.4.2 Europe Screw Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Centrifugal Chillers
8.5.1 Overview
8.5.2 Europe Centrifugal Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.6 Absorption Chillers
8.6.1 Overview
8.6.2 Europe Absorption Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.7 Modular Chillers
8.7.1 Overview
8.7.2 Modular Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.8 Reverse Cycle Chillers
8.8.1 Overview
8.8.2 Europe Reverse Cycle Chillers Market Revenue, and Forecast to 2030 (US$ Million)
9. Europe Chillers Market Analysis – Application
9.1 Overview
9.1.1 Europe Chillers market, By Application (2022 and 2030)
9.2 Commercial
9.2.1 Overview
9.2.2 Europe Commercial Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Industrial
9.3.1 Overview
9.3.2 Europe Industrial Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Residential
9.4.1 Overview
9.4.2 Europe Residential Market Revenue, and Forecast to 2030 (US$ Million)
10. Europe Chillers Market – Country Analysis
10.1 Europe
10.1.1 Overview
10.1.2 Europe Chillers Market, By Key Country – Revenue 2022 (US$ Mn)
10.1.3 Europe Chillers Market Revenue and Forecasts and Analysis – By Country
10.1.3.1 Europe Chillers Market Revenue and Forecasts and Analysis – By Country
10.1.3.2 Germany Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.2.1 Germany Chillers Market Breakdown by Technology
10.1.3.2.2 Germany Chillers Market Breakdown by Type
10.1.3.2.3 Germany Chillers Market Breakdown by Application
10.1.3.3 France Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.3.1 France Chillers Market Breakdown by Technology
10.1.3.3.2 France Chillers Market Breakdown by Type
10.1.3.3.3 France Chillers Market Breakdown by Application
10.1.3.4 Italy Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.4.1 Italy Chillers Market Breakdown by Technology
10.1.3.4.2 Italy Chillers Market Breakdown by Type
10.1.3.4.3 Italy Chillers Market Breakdown by Application
10.1.3.5 UK Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.5.1 UK Chillers Market Breakdown by Technology
10.1.3.5.2 UK Chillers Market Breakdown by Type
10.1.3.5.3 UK Chillers Market Breakdown by Application
10.1.3.6 Russia Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.6.1 Russia Chillers Market Breakdown by Technology
10.1.3.6.2 . Russia Chillers Market Breakdown by Type
10.1.3.6.3 Russia Chillers Market Breakdown by Application
10.1.3.7 Rest of Europe Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.7.1 Rest of Europe Chillers Market Breakdown by Technology
10.1.3.7.2 Rest of Europe Chillers Market Breakdown by Type
10.1.3.7.3 Rest of Europe Chillers Market Breakdown by Application
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 New Product Development
12. Company Profiles
12.1 LG Electronics Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Mitsubishi Electric Corp
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Carrier Global Corp
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Daikin Industries Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Thermal Care, Inc.
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Trane Inc.
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Kaltra
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Airedale International Air Conditioning Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
13. Appendix
13.1 About the Research Team
LIST OF TABLES
Table 1. Europe Chillers Market Segmentation
Table 2. Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. Europe Chillers Market Revenue and Forecasts to 2030 (US$ Million) – Technology
Table 4. Europe Chillers Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 5. Europe Chillers Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 6. Europe Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 7. Germany Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 8. Germany Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 9. Germany Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
Table 10. France Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 11. France Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 12. France Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
Table 13. Italy Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 14. Italy Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 15. Italy Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
Table 16. UK Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 17. UK Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 18. UK Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
Table 19. Russia Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 20. Russia Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 21. Russia Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
Table 22. Rest of Europe Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 23. Rest of Europe Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 24. Rest of Europe Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
LIST OF FIGURES
Figure 1. Europe Chillers Market Segmentation, By Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: Chillers market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Chillers Market Revenue (US$ Million), 2022 – 2030
Figure 6. Europe Chillers Market Share (%) – Technology, 2022 and 2030
Figure 7. Europe Air-Cooled Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Europe Water-Cooled Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Europe Steam-Fired Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. Europe Chillers Market Share (%) – Type, 2022 and 2030
Figure 11. Europe Process Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Europe Scroll Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Europe Screw Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Europe Centrifugal Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Europe Absorption Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Modular Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Europe Reverse Cycle Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. Europe Chillers market, By Application (2022 and 2030)
Figure 19. Europe Commercial Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Europe Industrial Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. Europe Residential Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. Chillers Market, By Key Country – Revenue 2022 (US$ Mn)
Figure 23. Chillers Market Breakdown by Key Countries, 2022 and 2030 (%)
Figure 24. Germany Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 25. France Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 26. Italy Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 27. UK Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 28. Russia Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 29. Rest of Europe Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
The List of Companies – Europe Chillers Market
1. LG Electronics Inc
2. Mitsubishi Electric Corp
3. Carrier Global Corp
4. Daikin Industries Ltd
5. Thermal Care, Inc.
6. Trane Inc.
7. Kaltra
8. Airedale International Air Conditioning Ltd
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