The water cooler market size will increase from $6.3 billion in 2023 to $9.1 billion in 10 years. Increasing urbanization will drive market growth. China is one of the most valuable construction markets in the Asia-Pacific region, with annual construction spending expected to increase through 2030 due to rising income levels, increasing urbanization, and industrialization.
NJ, March 4, 2024 (Globe Newswire) — Brainy Insights predicts the US$6.3 billion water cooler market will reach US$9.1 billion by 2033. A water cooler is a mechanical unit designed to reduce water temperature. Most water coolers use a closed-loop system that uses a refrigerant to transfer heat. The refrigerant then releases heat from the water into the atmosphere. Compressor, condenser, and evaporator are some of the parts that water coolers use to cool. Unlike air coolers, which require vents and ducts, water coolers take up less space, operate quietly, and are vibration-free. Water coolers are often used in hospitals and classrooms, where quiet operation is one of their main advantages. It also requires less energy and maintenance costs. Water coolers are more efficient than air conditioners because of the higher thermal conductivity of water compared to air. Because water chillers are installed inside a building rather than exposed to the elements such as rain, snow, ice, and heat, they require constant fresh air to function and therefore require less parts replacement than air-cooled chillers. less sexual.
Download the report sample (230+ pages PDF with insights) from: https://www.thebrainyinsights.com/enquiry/sample-request/14089
Key insights on the water cooler market
Asia Pacific region will account for the largest market size during the forecast period.
Rapid urbanization in the Asia Pacific region is increasing the demand for HVAC systems and cooling options in residential and commercial buildings. An essential part of these systems is the water cooler. Additionally, the region is increasingly focused on sustainability and energy efficiency. As a result, demand for innovative water coolers is likely to increase as businesses and organizations adopt more energy-efficient and environmentally friendly cooling solutions.
The screw chiller segment dominated the market with the most significant revenue of USD 1.57 billion.
The screw chiller segment dominated the market with the most significant revenue of USD 1.57 billion. Both refrigeration systems and industrial processes use screw chillers to provide cooling solutions. Light and compact screw chillers have cooling capacities ranging from 20 tons to 1,000 tons.
The 351-700 kW segment dominated the market and generated the most significant revenue of USD 2.2 billion.
The 351-700 kW segment dominated the market and generated the most revenue of USD 2.2 billion. High-capacity cold water chillers are systems with capacities from 351 to 700 kW. These are ideal for large manufacturing plants, commercial facilities, and industrial operations that require higher cooling loads.
The chemical and petrochemical sector dominated the market with the most significant revenue of USD 1.82 billion.
The chemical and petrochemical sector dominated the market with the most significant revenue of USD 1.82 billion. Cooling water cools the reactor and maintains the correct reaction temperature. Moreover, the main goal of major market participants is to design and manufacture chillers that support the petrochemical and chemical sectors.
Inquiry before purchase: https://www.thebrainyinsights.com/enquiry/buying-inquiry/14089
Market dynamics:
Driver: Growing interest in sustainability
As companies around the world strive to adopt environmentally friendly procedures, water chillers that comply with strict environmental requirements and employ environmentally friendly refrigerants are becoming increasingly popular. Water chillers have a low environmental impact and comply with sustainability goals, making them an excellent choice for businesses and sectors looking to reduce carbon emissions without sacrificing peak cooling efficiency. Due to increasing focus on sustainability and energy efficiency, the water cooler market is expected to rise, meeting the changing demands of an increasingly environmentally conscious population.
Constraints: High initial investment
Rising demand for variable refrigerant flow (VRF) systems, fluctuations in raw material prices, and high setup and initial investment costs are expected to restrict the growth of the global water chiller market.
Opportunity: Technological advancement
Continuing developments in chiller technology have resulted in systems that are more environmentally friendly and energy efficient. Users looking to reduce operating costs and energy usage are paying attention to these developments.
View the full report, including table of contents and list of figures: https://www.thebrainyinsights.com/report/water-chillers-market-14089
The major companies operating in the water cooler market are:
●Daikin Industries, Ltd.
●Bitea Group Co., Ltd.
●Thermax Limited
●LG Electronics
● Dimplex Thermal Solution
●Mitsubishi Electric Corporation
●Career Global Co., Ltd.
● Train Technologies plc
● Johnson Controls International PLC
●Hitachi, Ltd.
Key segments covered in the market:
By type:
●Screw chiller
●Turbo chiller
●Absorption refrigerator
●Scroll chiller
●Reciprocating chiller
●Others
By capacity:
●351～700kW
●101～350kW
●0～100kW
● >700kW
By end user industry:
●Plastic and rubber
●Chemicals and petrochemical products
● Food and beverages
● Healthcare
●Others
Inquire for customized data: https://www.thebrainyinsights.com/enquiry/request-customization/14089
About the report:
The Global Water Cooler Market is analyzed on the basis of value (US$ Billion). All segments are analyzed on global, regional and country basis. The study includes analysis of more than 30 countries in each part. The report offers an in-depth analysis of drivers, opportunities, restraints, and challenges to gain key market insights. This research includes Porter's Five Forces Model, attractiveness analysis, raw materials analysis, demand and supply analysis, competitive position grid analysis, distribution, and marketing channel analysis.
About Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights to improve business acumen for companies through data analysis. They have robust predictive and estimation models to achieve their clients' goals of achieving high-quality results in a short period of time. We offer both customized (client-specific) and syndicated reports. The repository of syndicated reports is diverse across all categories and subcategories across domains. Their customized solutions meet the requirements of their clients, whether they are looking to expand in the global market or planning to launch a new product.
inquiry
Avinash D
Business development manager
Phone: +1-315-215-1633
Email: sales@thebrainyinsights.com
Web: http://www.thebrainyinsights.com
