The Chiller market in Europe is expected to observe a CAGR of 3.83 percent from 2013-2018.
London, 31 July 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Chiller Market in Europe.
The report points to ongoing technological innovations as a main growth driver, as new models with improved specifications and eco-friendly alternatives appear on the market. Vendors are providing cutting-edge designs and superior engineering in new models of chillers.
“Italy accounts for the highest sales of chillers, particularly in the commercial and residential sectors. It accounted for 20 percent of the Chiller Market in Europe in 2013. The commercial sector is the largest consumer with about 50 percent of the cooling demand being covered by chillers,” says Faisal Ghaus, Vice President of TechNavio Research.
“The market is growing because of the introduction of chillers in lower-capacity segments for the residential sector.”
Advent of Scroll Chillers
The new breed of scroll chillers can perform with high efficiency and flexibility at high temperatures. The market is flourishing with the introduction of enhanced versions of scroll chillers in terms of compressor type, refrigerant, and size. Scroll chillers are available with large capacities (up to 750 kW) using R410 refrigerant. The multiple scroll chillers are gaining popularity because of the lower capital cost incurred while purchasing and setting them up. Many end-users adopt this type of chiller to make their operations eco-friendly and reduce the consumption of electricity, waste disposal impact, and expense.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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