The Latin America, Middle East and Africa Chillers Market would witness market growth of 7.3% CAGR during the forecast period (2023-2029).
Chillers use vapor compression to remove heat from the liquid to maintain equipment temperature for optimal performance. To cool the machinery, the liquid is passed through a heat exchanger or any other process, like air or process water. These gadgets are utilized in various settings, including offices, households, and enterprises. These are used in both commercial and new house construction. Absorption chillers and refrigerant compression chillers can be used to categorize chillers. Absorption chillers are the type that is expanding the quickest.
These are used in a variety of industries, including the plastics sector to cool hot plastic that is injected, extruded, and blown, the brewery sector to cool kettles during fermentation, the printing sector to cool warm rollers, the laser cutting sector to cool MRI units, the HVAC sector to maintain the desired temperature in high-rise buildings, and the industry of printing to cool warm rollers.
The UAE's expanding working population significantly contributes to the region's demand for frozen meals. As a result, people's eating habits have evolved, and convenience foods like ready-to-eat meals and food on the move have gained popularity. Due to the nation's effective frozen foods delivery networks, the business is projected to expand over the next years. Furthermore, frozen food availability is predicted to be supported by the nation's rising cold chain technology development. As the demand for frozen food products in the area increases, so does the need for temperature-controlled storage facilities, which is expected to assist regional market expansion.
The Brazil market dominated the LAMEA Chillers Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $249.4 million by 2029. The Argentina market is estimated to grow a CAGR of 7.8% during (2023 - 2029). Additionally, The UAE market would display a CAGR of 7% during (2023 - 2029).
Based on Type, the market is segmented into Screw Chiller, Scroll Chiller, Centrifugal Chiller and Others. Based on End User, the market is segmented into Chemicals & Petrochemicals, Food & Beverages, Medical and Others. Based on Product Type, the market is segmented into Water Cooled Chiller and Air Cooled Chiller. Based on Power Range, the market is segmented into More than 200 kW, 50-200 kW and Less than 50 kW. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Chillers Market is Projected to reach USD 13.2 Billion by 2029, at a CAGR of 4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carrier Global Corporation, Mitsubishi Electric Corporation, Daikin Industries, Ltd., Dimplex Thermal Solutions, Inc. (GlenDimplex), LG Electronics (LG Corporation), Johnson Controls International PLC, PolyScience (Preston Industries, Inc.), Smardt Chiller Group Inc. (Nanjing TICA Environmental Technology Co., Ltd.), Thermax Limited and Trane Technologies PLC.
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