The processed chillers market is steadily growing with each passing day and its sales surpassed 130000 units in the year 2019, the growth rate of process chillers will be steady from 2018 to 2027. The factors responsible for this steady growth include the increased demand for health products, food, chemical, construction material, and energy.
According to the reports users are preferring air-cooled chiller system over the water-cooled chiller system due to the advantages it offers. The advantages of the air-cooled chiller system include lower cost of maintenance, advancement in the technology and Easy installation. According to the studies, manufacturers of air conditioners are constantly improving their system to produce eco-friendly, cost-effective and variable frequency air conditions. The study shows that air conditions sales will reach 102,000 units in the year 2019. The sales of water cool system will also remain stable due to its extensive use in different industries.
The report also covers the development of advanced compressors that can increase the efficiency of these chillers. Compressors play an important role when it comes to the performance of a chiller. The compressor plays a deciding role in the efficiency and effectiveness of the process chillers. To understand it lets take Danfoss’s new compressor Tubocor in consideration, it has magnetic bearing and variable speed technology which offers better cooling efficiently produces less noise, reduces the overall operating cost and less emission of CO2.
The developments of technologies that offers efficiency to the chiller system can help in expanding the market growth. The key factors responsible for impacting the market includes pressure sensors, valves, and heat controllers. The initiation of a smart system in the chiller operation is another important factor contributing to the increased demand in the industries. The example of one such trend is the launch of Dynamic Lift technology by Thermal Care. The Dynamic Lift automatically adjusts the pressure by sensing different parameters such as heat load, performance, and temperature of different chiller components. The chillers with the most efficient system are always preferred due to its lower operating cost.
The increased demand for the efficient cooling system is boosting the production rate of air chillers. Absorption chillers function on thermodynamics and use water for the refrigeration. The operating heat required for absorption chiller is taken from multiple low-cost sources. Two-step absorber and the evaporator is developed which will help reduce the drawback of the traditional chillers. According to the report of Fact.MR the CAGR value of process chillers will be 5.1% from 2018 to 2027.