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Global Centrifugal Chiller Market Is Valued At $3.85 Billion In 2018
Monday, 22 Jun, 2020
Centrifugal Chiller is a centrifugal compressor uses a rotating disk or impeller to force gas to the rim of the impeller, increasing the velocity of the gas; a diffuser converts the velocity energy to pressure energy, the chiller then uses the vapor compression cycle to chill water (or other fluids) and transfers the heat collected from the chilled water plus the heat from operating compressor to a second water loop that can be cooled by a Cooling Tower.

Rising preference for smart connected devices has been observed to be one of the key trends in the market. This has led manufacturers to incorporate connected solutions in centrifugal chillers offering remote monitoring and preventive maintenance. Smart connected centrifugal chillers incorporate remote monitoring and cloud-based analysis tools, that enable service providers to gather data from equipment, analyze it and then notify customers of the best time to perform maintenance or make upgrades which reduce unplanned repairing costs and improve the operational efficiency of the centrifugal chiller. As a result, the popularity of smart connected centrifugal chillers is increasing in the centrifugal chiller market around the global.

Growing demand for energy efficient cooling systems, including centrifugal chillers across the globe would create opportunities for inverter-controlled centrifugal chiller market during the forecast period. Inverter technology in centrifugal chillers are highly efficient as compared to conventional AC systems. It offers benefits such as lower electricity bills, stable temperature, quick cooling, no sound disturbance, and a longer lifespan. Further, it offers improved partial load efficiency under low cooling water temperature conditions in off-peak seasons. Hence, the demand for inverter-controlled centrifugal chillers is expected to create opportunities in the market.

The construction of new stadiums and game villages would drive the requirement of centrifugal chillers. For instance, football stadiums in Qatar being developed are to be air-conditioned owing to the extreme environmental conditions. The air-conditioned stadiums would use high-end and heavy-duty centrifugal chillers to maintain the air temperature inside the stadiums and would offer a comfortable environment for the audience. Hence, several upcoming sports events and construction of supporting infrastructure would fuel the demand for centrifugal chillers market globally.

Middle East and Africa Centrifugal chiller Market
Middle East and Africa centrifugal chiller market recorded a dip in revenues due to slump in oil prices. This has also led to decrease in revenues generated by the oil & gas industry in the MEA region. However, factors like upcoming events, Dubai Expo 2020, FIFA World Cup 2022, and Africa Confederation Cup (AFCON) in 2019 has revived the MEA market. This has led to the construction of new stadiums and hotels, resulting in increased demand for centrifugal chillers in the region.

APAC Centrifugal chiller Market
China and Japan accounts for large number of transportation facilities (including airports and railways). As of 2018, China had 234 civil airports, while Japan and India recorded 97 and 126 airports, respectively. Moreover, in 2017, China built over 439 mi of metro lines. On the contrary, India added 137 mi of urban railway line in 2018.