by Product Type (Air Cooled Chiller, Water-Cooled Chiller), by Compressor(Single, Dual and Twin Industry (Food and Beverage, Chemical and Petrochemicals,

WILMINGTON, DELAWARE, UNITED STATES, November 20, 2023 /EINPresswire.com/ — In a recent report by Allied Market Research titled “Screw Chillers Market,” it was revealed that the market size for screw chillers reached $4.6 billion in 2021 and is expected to reach $6.5 billion by 2031, with a compound annual growth rate (CAGR) of 3.4% from 2022 to 2031.

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The growth of the global screw chillers market is attributed to increased spending on residential and commercial construction, driven by a focus on indoor air quality. Awareness about the installation of heating, air conditioning, and ventilation (HVAC) systems has risen due to concerns about greenhouse gas emissions and global warming, further contributing to market expansion. Additionally, the demand for energy-efficient, compact, and lightweight HVAC systems in commercial and industrial sectors is on the rise. The surge in tourism has also increased the demand for screw chillers in various industry verticals, including food & beverage, pharmaceutical, chemical, petrochemical, oil & gas, and others.

Screw chillers, characterized by two helical slotted rotors, a convex flap, and concave groove housed in a fixed casing, are integral to cooling solutions in air conditioning systems and industrial processes. With a cooling capacity ranging from 20 tons to 1,000 tons, they are known for their compact and lightweight design.

The industrial applications of screw chillers, driven by factors such as variable speed, environmental friendliness, compact size, minimal maintenance costs, and high energy efficiency, are contributing significantly to the market’s growth. Moreover, the suitability of screw chillers for high-rise buildings and their increasing adoption in commercial refrigeration further propel market expansion. The adoption of advanced analytics and visualization, the use of external data sources, and the increasing demand for process cooling in industrial applications are additional factors driving market growth.

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Major players in the market are employing strategies such as product launches and acquisitions to enhance their competitive position. For example, Carrier launched the Aqua Edge 19MV oil-free water-cooled centrifugal chiller to enrich its product line.

The Asia-Pacific region dominated the global screw chillers market in 2021, driven by industrialization and rapid urbanization in countries like China, India, Vietnam, and Indonesia, resulting in increased construction activities and a corresponding rise in the demand for screw chillers.

However, the COVID-19 pandemic had a substantial impact on the screw chillers market, with manufacturers facing business disruptions and supply chain constraints. The reopening of production facilities and the introduction of vaccines for COVID-19 are expected to facilitate the recovery of the screw chillers market.

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Key findings of the study include the dominance of water-cooled chillers in terms of revenue in 2021, a projected significant CAGR for air-cooled chillers, and the chemical and petrochemical segment registering the highest revenue in 2021. The report provides an in-depth analysis of current and emerging trends, profiles key players, and includes a forecast analysis from 2022 to 2031.

David Correa
Allied Market Research
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