Rockville, MD -- (SBWIRE) -- 07/11/2019 -- The global portable chiller market is expected to grow at a significant CAGR due to an increasing demand from various end-use industries for ultra-low and low temperature as well as process cooling. The surging preference from various end-use industries across the world such as automotive, semiconductor, chemical processing, etc. is expected to create significant demand for Portable Chiller Market over the forecast period. The surging number of manufacturing industries with precise manufacturing processes, such as injection molding, which involves very handy control over the process is aiding the demand for portable chiller during the forecast period. The use of portable chiller is more in the manufacturing processes where there is a chance of overheating, which can result in the loss of product or damage of the equipment. Moreover, it caters to the comfort of mobility from one place to another and is most preferred for several small applications.
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The portable chiller is used and designed to eradicate heat from the finished product in various industries. Portable chillers are specially designed for industrial chilling for small scale industrial applications. Portable chillers comprises cooling-assembly-based on water and gas, which is dispersed through a process of heat exchange. These portable chillers are available with a range of varieties depending upon the cooling capacity. The portable chillers have often suited for smaller scale applications. The cooling capacity of portable chiller plays a significant role while planning for a particular application, as an over capacity portable chiller may cost more to operate due to excessive cycling.
Portable Chiller Market: Segmentation
The global market for portable chillers are segmented on the basis of cooling type, by end-use industry and by region. On the basis of cooling type, the global portable chiller market is segmented by air cooled and water cooled. On the basis of end-use industry, the global portable plastics, food & beverages, pharmaceuticals, energy, printing and others. With the rapid growth in the construction activities in Middle East and Asian regions, the segment by portable chillers is estimated to witness high growth over the forecast period. On the other hand, advancement in the industrial automation across the world will aid in the expansion of the global portable chillers market over the forecast period.
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Portable Chiller Market: Regional Overview
The global portable chillers market can be segmented with respect to the regions, such as North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA (Middle East and Africa). The South Asia and East Asia is expected to have a significant market for portable chillers owing to the increasing industrial applications across the Asia Pacific region. Also, the increasing demand for efficient industrial chillers for various industrial applications plastics, food & beverages, pharmaceuticals, energy, printing and others in emerging countries, such as China and India, is likely to be a substantial market for portable chillers during the forecast period. Latin America market for portable chillers is also surging at a considerable rate due to rapid economic growth, which results in the large industrial applications owing to the demand for efficient industrial chillers in these regions over the past couple of years. Developed countries, such as the U.S. and European countries, are mature markets for portable chillers due to the growing demand for enhanced chillers against various finished products.
Portable Chiller Market: Key Players
Prominent players in the global portable chillers market are Berg Chilling Systems Inc., BV Thermal Systems, Thermal Care, Inc., G&D Chillers, Cooling Technology Inc., Carrier Corporation (UTC), GEA Group AG, Drake Refrigeration Inc., Daikin Industries, Ltd., Advantage Engineering, Inc., Cooling Technology, Inc., Blue Star Ltd., Motivair Corporation and Trane Inc., among other players. The global players are expected to strengthen their market positions by offering loyalty schemes and competitive prices. Several small-sized players also have a presence in the portable chillers market globally.
Portable Chiller Market: Competitive Landscape
The global market for portable chillers is fragmented in nature owing to the presence of large number of players in the market. The global portable chillers market has lucrative opportunities for new entrants, which will cater to competitiveness in the product offerings and also leads to the reduction in prices of the products.
The research report presents a comprehensive assessment of the portable chillers market and contains thoughtful insights, facts and historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The portable chillers market report provides analysis and information, according to market segments such as geographies, application and industry.
The portable chillers report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The portable chillers report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The portable chillers report also maps the qualitative impact of various market factors on market segments and geographies.
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