Chiller Market in Europe to Grow by USD 950.1 MIllion from 2025-2029, Rising Demand for Frozen Food to Drive Growth, Report on Market Evolution Powered by AI - Technavio
NEW YORK, Feb. 14, 2025 /PRNewswire/ -- Report on how AI is driving market transformation - The chiller market in Europe and it is set to grow by USD 950.1 million from 2025 to 2029. However, the growth momentum will progressing at a CAGR of 5.5% during the forecast period, according to Technavio. The chiller market in Europe is fragmented, and the vendors are seeking strong partnerships with automotive, industrial, and commercial companies to compete in the market. Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, FlaktGroup Holding GmbH, Haier Smart Home Co. Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Kaltra GmbH, Kirloskar Group, LG Corp., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Modine Manufacturing Co., Nortek, Panasonic Holdings Corp., Regal Rexnord Corp., Samsung Electronics Co. Ltd., Systemair AB, and Trane Technologies Plc are some of the major market participants -. To know about the vendor offerings - Request a sample report
Chiller Market in Europe 2025-2029: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The chiller market in europe report covers the following areas:
-- Chiller Market in Europe Size
-- Chiller Market in Europe Trends
-- Chiller Market in Europe Industry Analysis
-- Porter's Five Forces Analysis
-- Customer Landscape
The chiller market in Europe is fragmented, and the degree of fragmentation will accelerate. The growing demand for frozen food will offer immense growth opportunities. However, the High initial investment costs of chillers will hamper the market growth
Chiller Market in Europe 2025-2029: Drivers & Challenges
The chiller market comprises of various compressor types, including scroll and centrifugal compressors. The demand for chillers is driven by several factors. One significant driver is the increasing need for air conditioning and refrigeration systems in various industries such as healthcare, data centers, and manufacturing. Another driver is the growing trend towards energy efficiency and sustainability, leading to the adoption of advanced chiller technologies like variable frequency drives and absorption chillers. Additionally, the expansion of commercial and residential buildings in urban areas is fueling the market growth. The market also caters to the replacement demand due to the aging infrastructure of existing chillers. Overall, the chiller market is expected to grow steadily due to these key drivers.
The chiller market faces several challenges in the compression and cooling industry. Compressors and chillers are essential components in this sector. The demand for energy-efficient and cost-effective solutions is increasing. The use of advanced technologies like scroll compressors and centrifugal compressors is becoming common. However, the high initial investment and maintenance costs are significant barriers. The need for regular servicing and the availability of skilled labor are other challenges. Additionally, the increasing demand for renewable energy integration and the implementation of stringent regulations add to the complexity. The market requires innovative solutions to address these challenges and ensure sustainable growth.
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Segment Overview
This chiller market in Europe report extensively covers market segmentation by
-- Product Type
-- Water Cooled Chiller
-- Air Cooled Chiller
-- Type
-- Screw Chillers
-- Scroll Chillers
-- Centrifugal Chillers
-- Others
-- Geography
-- Europe
1.1 Water cooled chiller- Water-cooled chillers offer superior heat removal efficiency compared to air-cooled systems. Their use of water as a heat transfer medium results in more effective cooling, particularly in high ambient temperatures. These compact units produce lower noise levels, making them ideal for space-constrained installations and noise-sensitive applications. Water's higher heat transfer capabilities lead to better cooling rates and potential energy savings. Daikin Industries Ltd.'s water-cooled chillers deliver quality, efficiency, and energy savings for various applications, including air conditioning, industrial process cooling, and district heat source systems. The advantages of water-cooled chillers will fuel market growth in Europe during the forecast period.
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Chiller Market in Europe 2025-2029: Key Highlights
-- CAGR of the market during the forecast period 2025-2029
-- Detailed information on factors that will assist chiller market in
Europe growth during the next five years
-- Estimation of the chiller market in Europe size and its contribution to
the parent market
-- Predictions on upcoming trends and changes in consumer behavior
-- The growth of the chiller market in Europe across Europe
-- Analysis of the market's competitive landscape and detailed information
on vendors
-- Comprehensive details of factors that will challenge the growth of
chiller market in Europe vendors
Chiller Market In Europe Scope
Report Coverage
Details
Base year 2024
Historic period
2017-2021
Forecast period
2025-2029
Growth momentum & CAGR Accelerate at a CAGR of 5.5%
Market growth 2025-2029
USD 950.1 million
Market structure
Fragmented
YoY growth 2022-2023 (%) 5.1
Regional analysis
Europe
Performing market contribution Europe at 100%
Key countries
Germany, France, UK, Italy, and Rest of Europe
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Carrier Global Corp., Daikin Industries Ltd., Danfoss AS, FlaktGroup Holding GmbH, Haier Smart Home Co.
Ltd., Honeywell International Inc., Ingersoll Rand Inc., Johnson Controls International Plc, Kaltra GmbH,
Kirloskar Group, LG Corp., MIDEA Group Co. Ltd., Mitsubishi Electric Corp., Modine Manufacturing Co.,
Nortek, Panasonic Holdings Corp., Regal Rexnord Corp., Samsung Electronics Co. Ltd., Systemair AB, and
Key companies profiled Trane Technologies Plc
Market dynamics Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment
analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis
for forecast period
Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and
get segments customized.
Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and
get segments customized.
About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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