The Europe Industrial Air Chiller Market would witness market growth of 4.1% CAGR during the forecast period (2022-2028).
Cooling water or other refrigerant liquid from the chiller is circulated through laboratory equipment or process in industrial applications. Industrial chillers are utilized in a variety of industries for the controlled chilling of products, mechanisms, and production gear. They are frequently used in the plastics industry, blow molding, injection metal working cutting oils, die-casting and machine tooling, welding equipment, paper, and cement processing, chemical processing, pharmaceutical conceptualization, food and beverage processing, X-ray diffraction, vacuum systems, power supplies, and gas-turbine generation stations, analytical equipment, compressed air and gas, semiconductors and they are also utilized in hospitals, hotels, and campuses to cool high-heat specialty devices like MRI machines and lasers.
The food and beverage sector in the region is flourishing. According to the Department for Environment Food & Rural Affairs, in 2019, the Europe agri-food industry contributed £128.7 billion to the national Gross Value Added or 9.8%. Following a 5.4% in 2018, the food sector's GVA (excluding agriculture and fishery) climbed by 4.3% in 2019. The GVA of wholesalers increased by 1.9% while manufacturing increased by 8.7% and catering increased by 2.6%. GVA in the retail sector increased by 3.4%. Between 2009 and 2019, the food sector (excluding agriculture and fishery) grew by 49.4%, whereas the overall economy grew by 55%. Because there is a limit to consumer intake capacity, the food business has less room for expansion and must rely heavily on quality improvements.
Germany's 82 million consumers contributed to the country's prominence as Europe's largest food and beverage retail market. In 2011, total food retailing revenue surpassed EUR 170 billion. Foodservice sales (EUR 66.4 billion) and exports are two more key distribution channels (EUR 48.4 billion). Germany's food and beverage business is the country's fourth-largest industry sector, with production valued at EUR 163.3 billion in 2011, up 8% from 2010. The industry is primarily known for its small and medium-sized firm (SME) sector, which employs approximately 6,000 people.
The Germany market dominated the Europe Industrial Air Chiller Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $350.7 million by 2028. The UK market is anticipated to grow at a CAGR of 3.2% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 4.8% during (2022 - 2028).
Based on Function, the market is segmented into Stationary and Transport. Based on Type, the market is segmented into Screw Driven Chillers, Scroll Compressor Chillers, Reciprocating Chillers, and Centrifugal Chillers. Based on Industry, the market is segmented into Pharmaceutical, Food & Beverage, Oil & Gas, Utility & Power, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The North America Industrial Air Chiller Market would witness market growth of 12.5% CAGR during the forecast period (2022-2028). The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, Mitsubishi Electric Corporation, Daikin Industries, Ltd., Trane Technologies PLC, Carrier Global Corporation, Blue Star Limited, Airedale International Air Conditioning Ltd., HIVER Aircon Pvt. Ltd., Gem Orion Machinery Private Limited, and Jiangsu Huazhao Refrigeration Equipment CO., Ltd. By Function By Type By Industry By CountryScope of the Study
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