• Fri. Jul 30th, 2021

The chiller market is witnessing swift growth due to the heavy requirement for cooling equipment in industrial settings, increasing global temperature, and surging construction activities. A compressor-based machine that takes away heat from liquids through an absorption–refrigeration cycle or vapor compression is referred to as a chiller.

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One of the major drivers for the growth of the chiller market is the increasing temperatures across the globe. The excessive use of chlorofluorocarbons and burning of fossil fuels lead to the accumulation of greenhouse gases, such as methane and carbon dioxide, in the environment, which leads to the phenomenon of global warming.

It generates chilled water, which is then mainly used to cool large facilities. It is caused due to the increased absorption of infrared energy by the atmosphere, resulting in high temperatures. The National Aeronautics and Space Administration reported that in 2017, the average global temperature was 0.90C higher than the average temperature during 1951–1980.

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This market research report provides a comprehensive overview of the chiller market

  • Historical and the present size of the chiller market
  • Future potential of the market through its forecast for the period 2020– 2030
  • Major factors driving the market and their impact during the short, medium, and long terms
  • Market restraints and their impact during the short, medium, and long terms
  • Recent trends and evolving opportunities for the market participants