HVAC Centrifugal Compressors Market - Future Trends Insights and Growth Projection Report to 2024
Category: #reports  By Rahul Varpe  Date: 2020-04-27
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HVAC Centrifugal Compressors Market - Future Trends Insights and Growth Projection Report to 2024

Centrifugal chillers have come to be massively adopted across myriad application sectors, owing to their low maintenance, sustainable oil-free operation, efficiency, and low noise generation capability. In this regard, HVAC centrifugal compressors market players have been making heavy investments in launching new heat exchanger and compressor technologies. Moreover, with the help of an optimized design, many HVAC manufacturers have even successfully improved the efficiency of chillers. This has increased their demand across numerous application domains, stimulating the commercialization of HAC centrifugal compressors industry. In 2016 alone, chillers accounted for 60% of HVAC centrifugal compressors market share.

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As per the latest research report, the global HVAC Centrifugal Compressors Market is anticipated to depict a CAGR of 2% through 2024, having recorded a valuation of USD 900 million in 2016.

By 2024, the HVAC Centrifugal Compressors Market is expected to hit a remuneration of USD 1 billion. An extremely definite evaluation of the global market in terms of qualitative as well as quantitative analysis has been covered in this report. The myriad aspects of this industry, having considered its historical and forecast data have been enlisted in the study. Also, the research report is inclusive of substantial details with regards to an efficient SWOT analysis, PESTEL analysis, and Porter’s five force model of the market.

The emergence of new high-tech technologies such as augmented reality and IoT have considerably influenced HVAC centrifugal compressors market outlook. The implementation of IoT based facilities in refrigeration equipment has provided the credibility of remote monitoring and ease of control to users. IoT has also added benefits of easy maintenance and serviceability. Say for example, the smart connected chillers developed by Johnson Controls is one of the recent IoT based invention that has been stirring a storm in HVAC centrifugal compressors industry.

The growing awareness among the governments about the replacement of outdated refrigeration systems will also lead to a spike in product demand. For instance, recently, Department of Defense of U.S. has awarded USD 24 million to U.S. Air Force to install a new refrigeration system in the President’s official plane. The demand primarily comes on the heels of the rising need to minimize energy waste that occurs due to outdated products.

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The HVAC Centrifugal Compressors Market report also contains information pertaining to the anticipated CAGR of the global business through the forecast period. In addition, many technological developments and innovations that may possibly boost the industry outlook over the anticipated period are also mentioned in the study.

Top Companies: -

Danfoss, Hitachi, GFA Compressors, Atlas Copco, Ingersoll Rand, Mitsubishi Heavy Industries, Celeroton, Howden Africa, Elliott Group, SKF

Split by application, the market is divided into: -

  1. Chillers [Industrial, Commercial]
  2. Heat Pumps [Industrial, Commercial]

This study is inclusive of in-depth information with respect to the consumption of the product as well as application segment market share, in tandem with the growth rate likely to be registered by every application segment.

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What are the key highlights of this report?

  1. A systematic pricing analysis has been done on the sources of the product, application, as well as regional categories
  2. A detailed analysis of the vendor matrix, important companies that will help better understand the competitive situation of the global business
  3. Important, insightful data on the regulatory status of the market, as well as the investment scenario – for instance, how many stakeholders have invested in the market and so on
  4. A deep-dive understanding of the various aspects propelling the overall market growth graph, as well as their influence on the worldwide market projections and dynamics
  5. A systematic roadmap depicting the numerous growth opportunities in the worldwide market coupled with the identification of vital factors
  6. An extensive evaluation of the various trends prevailing in the global industry that would help identify the various developments in the market from a global perspective


About Author

Rahul Varpe

Email: [email protected]marketsizeforecasters.com   

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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