South & Central America Chillers Market Forecast to 2030
South & Central America 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
Development of IoT enabled HVAC Chillers Bolsters South & Central America Chillers Market
The initial stage of the IoT revolution is on the horizon, and IoT is making its mark on the heat, ventilation, and air conditioning (HVAC) industry. IoT enabled HVAC products are helping many customers to maximize the efficiency of their HVAC systems. People in smart cities are transforming their houses into smart homes with latest technologies and devices. The crucial reason behind the adoption of advanced technology in developed countries is the strong economic condition along with supportive infrastructure. In short period of time, HVAC chillers will be able to fine-tune and make changes in settings for themselves, with lesser or no human input at all. In simple words, HVAC chillers will be able to make the required judgment as per the specific condition on their own. TCS is helping Voltas in developing a remote chiller monitoring system which will be able to prevent the chiller breakdowns. Intel deployed their IoT gateway, TCS made use of their IoT framework and Voltas leveraged their chiller expertise for jointly developing a centralized system which can monitor chillers remotely across distinct country. End to end solutions from TCS helps in diagnosing the real-time health of the chillers via live dashboard, identifying anomalies in the equipment parameters and raise notifications and alerts for the respective field engineer and predict failures in equipment for proactive maintenance.
South & Central America Chillers Market Overview
The chillers market in South America is further segmented into Brazil, Argentina, and the Rest of South America. A continuous growth in population, revival of housing markets, and growing number of commercial and industrial units are among the kay factors contributing to the market growth in this region. Emerging greensmart building criteria are compelling HVAC chiller manufacturers to build and provide energy-efficient, technologically advanced HVAC chillers for major commercial, residential, institutional, and industrial applications, among others. Additionally, the Chiller market growth in the region is driven by rapid developments in the real estate sector, including the construction projects of residential buildings, hospitals, and departmental stores. The increasing popularity of HVAC systems enabled with advanced technologies such as the IoT is providing lucrative growth opportunities for the HVAC chillers manufacturers operating in the South America.
South & Central America Chillers Market Revenue and Forecast to 2030 (US$ Million)
South & Central America Chillers Market Segmentation
The South & Central America chillers market is segmented into technology, type, application, and country.
Based on technology, the South & Central America chillers market is segmented into air-cooled, water-cooled, and steam-fired. The air-cooled segment held a larger share of the South & Central America chillers market in 2022.
In terms of type, the South & Central America 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 larger share of the South & Central America chillers market in 2022.
Based on application, the South & Central America chillers market is segmented into industrial, commercial, and residential. The industrial segment held a larger share of the South & Central America chillers market in 2022
Based on country, the South & Central America chillers market is segmented into the Brazil, Argentina, and Rest of South & Central America. Brazil dominated the South & Central America 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 South & Central America chillers market.
Summary Info
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According to the Research Team research, the South & Central America chillers market was valued at US$ 525.80 million in 2022 and is expected to reach US$ 728.79 million by 2030, registering a CAGR of 4.2% from 2022 to 2030. Rising demand from various industries, increasing number of data centers, and economic growth in developing countries across the world are among the critical factors attributed to the South & Central America chillers market expansion.
HVAC chillers play a crucial role in maintaining the required temperature of any space, machinery, or equipment. HVAC chillers remove the heat and transfer it somewhere else. These chillers can be utilized in numerous residential spaces, for example small to large size rooms, garages, basements, and crawlspaces. Popularity of HVAC chillers is increasing owing to various advantages such a portability, convenience, and quick and easy maintenance. Moreover, the adoption of HVAC chillers is rising in restaurants, hotels, kitchens, and dining rooms to handle the concerns regarding temperature levels. Other industry verticals where these chillers are used are rubber, petrochemicals, medical, plastic, commercial office buildings, sports venues, and others. Growing aviation sector and increasing count of new commercial construction buildings drives the demand for respective chillers. Thus, demand for respective chillers is also expected to increase. Screw chillers are vapor compressor chillers that make use of a screw compressor for transporting the coolant through the system. These chillers are suitable for high rise buildings considering quiet operation, compact installation, high energy efficiency and lower maintenance costs. With growing real estate sector all over the world, requirement for screw chillers is forecasted to increase remarkably.
On the contrary, less efficiency in humid environment and high maintenance cost hamper the South & Central America chillers market.
Based on technology, the South & Central America chillers market is segmented into air-cooled, water-cooled, and steam-fired. The air-cooled segment held 50.9% share of South & Central America chillers market in 2022, amassing US$ 275.97 million. It is projected to garner US$ 358.76 million by 2030 to expand at 3.7% CAGR during 2022-2030.
In terms type, the South & Central America 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 40.2% share of South & Central America chillers market in 2022, amassing US$ 211.34 million. It is projected to garner US$ 305.87 million by 2030 to expand at 4.7% CAGR during 2022-2030.
Based on application, the South & Central America chillers market is segmented into industrial, commercial, and residential. The industrial segment held 50.8% share of South & Central America chillers market in 2022, amassing US$ 266.92 million. It is projected to garner US$ 349.71 million by 2030 to expand at 3.4% CAGR during 2022-2030.
By country, the South & Central America chillers market has been categorized into the Brazil, Argentina, and the Rest of South & Central America. Our regional analysis states that Brazil captured 53.3% share of South & Central America chillers market in 2022. It was assessed at US$ 280.26 million in 2022 and is likely to hit US$ 405.43 million by 2030, exhibiting a CAGR of 4.7% during 2022-2030.
Key players operating in the South & Central America 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 Oct-2021, For Expo 2020 Brazil Pavilion, SKM Air Conditioning has supplied the required chillers. This Expo is the first of its kind.
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 South & Central America chillers 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 South & Central America 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. South & Central America Chillers Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 SAM
4.3 Ecosystem Analysis
5. South & Central America 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 – South & Central America Market Analysis
6.1 Chillers Market Revenue (US$ Million), 2022 – 2030
6.2 Chillers Market Forecast and Analysis
7. South & Central America 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 South & Central America Air-Cooled Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Water-Cooled
7.3.1 Overview
7.3.2 South & Central America Water-Cooled Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Steam-Fired
7.4.1 Overview
7.4.2 South & Central America Steam-Fired Market Revenue and Forecast to 2030 (US$ Million)
8. South & Central America Chillers Market Analysis – Type
8.1 Overview
8.1.1 South & Central America Chillers Market, By Type (2022 and 2030)
8.2 Process Chillers
8.2.1 Overview
8.2.2 Process Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Scroll Chillers
8.3.1 Overview
8.3.2 Scroll Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Screw Chillers
8.4.1 Overview
8.4.2 Screw Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Centrifugal Chillers
8.5.1 Overview
8.5.2 Centrifugal Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.6 Absorption Chillers
8.6.1 Overview
8.6.2 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 Reverse Cycle Chillers Market Revenue, and Forecast to 2030 (US$ Million)
9. South & Central America Chillers Market Analysis – Application
9.1 Overview
9.1.1 South & Central America Chillers Market, By Application (2022 and 2030)
9.2 Commercial
9.2.1 Overview
9.2.2 Commercial Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Industrial
9.3.1 Overview
9.3.2 Industrial Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Residential
9.4.1 Overview
9.4.2 Residential Market Revenue, and Forecast to 2030 (US$ Million)
10. South & Central America Chillers Market – Country Analysis
10.1 South America
10.1.1 Overview
10.1.2 South America Chillers Market, By Key Country – Revenue 2022 (US$ Mn)
10.1.3 South America Chillers Market Revenue and Forecasts and Analysis – By Country
10.1.3.1 South America Chillers Market Revenue and Forecasts and Analysis – By Country
10.1.3.2 Brazil Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.2.1 Brazil Chillers Market Breakdown by Technology
10.1.3.2.2 Brazil Chillers Market Breakdown by Type
10.1.3.2.3 Brazil Chillers Market Breakdown by Application
10.1.3.3 Argentina Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.3.1 Argentina Chillers Market Breakdown by Technology
10.1.3.3.2 Argentina Chillers Market Breakdown by Type
10.1.3.3.3 Argentina Chillers Market Breakdown by Application
10.1.3.4 Rest of South America Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.4.1 Rest of South America Chillers Market Breakdown by Technology
10.1.3.4.2 Rest of South America Chillers Market Breakdown by Type
10.1.3.4.3 Rest of South America 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. South & Central America Chillers Market Segmentation
Table 2. Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. South & Central America Chillers Market Revenue and Forecasts to 2030 (US$ Million) – Technology
Table 4. South & Central America Chillers Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 5. South & Central America Chillers Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 6. South America Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 7. Brazil Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 8. Brazil Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 9. Brazil Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
Table 10. Argentina Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 11. Argentina Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 12. Argentina Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
Table 13. Rest of South America Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 14. Rest of South America Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 15. Rest of South America Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
LIST OF FIGURES
Figure 1. South & Central America 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. South & Central America Chillers Market Share (%) – Technology, 2022 and 2030
Figure 7. Air-Cooled Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. Water-Cooled Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. Steam-Fired Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. South & Central America Chillers Market Share (%) – Type, 2022 and 2030
Figure 11. Process Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. Scroll Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. Screw Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. Centrifugal Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. Absorption Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Modular Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. Reverse Cycle Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. South & Central America Chillers Market, By Application (2022 and 2030)
Figure 19. Commercial Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. Industrial Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. 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. Brazil Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 25. Argentina Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 26. Rest of South America Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
The List of Companies – South & Central America 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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