Published on : Jun 13, 2016
Chillers are an integral part of the overall food and beverages market. From preserving food to cooling food and beverages, the global chillers market has evolved over the years with a constantly changing their line of products. Chillers are used for a wide range of applications in various industry verticals such as petrochemicals, plastics, chemicals, healthcare, pharmaceuticals, rubber, food and beverages. The types of chillers available in this market are scroll, reciprocating, screw, centrifugal chillers, and absorption.
Need for Cooling Drives Global Chillers Market
The rising environmental temperatures and introduction of several beverages have both led to a demand for cooling. Owing to these reasons chillers are being sold in restaurants, retail outlets, and hospitals amongst others.
Emerging Economies Dictate Growth of Overall Market
The demand for chillers has especially been on the rise in emerging economies of India, Indonesia, South Korea, Thailand, Brazil, Argentina, China, and Mexico. The improving GDP of these countries as been the undercurrent for growth of the chillers market in these countries. Furthermore, rise of ancillary industries in these countries has also fueled the demand for chillers in these countries.
Demand for Frozen Food Fuels Global Market
Another important growth driver in the global chillers market is the growing consumption of frozen food. Due to the lack of time to prepare elaborate meals, growing number of consumers are opting of ready-to-cook or frozen meals. To keep these packets well-refrigerated dealers, manufacturers, wholesalers, retailers are investing in chillers.
Environment-Friendly Chillers to Stir Revolution in Global Market
In a bid to cater to the growing demand of chillers and to comply with environment regulations, the chiller manufacturers across the globe are striving to make environment-friendly chillers. Development of ecologically feasible chillers is expected to stir a new revolution in the overall chillers market.
Currently, Asia Pacific is the largest shareholder in the overall chillers market. This demand is being driven by the rise of plastics and petrochemicals industries in the region. The only restraint in the overall chillers market is the high cost of production, which is pushing the cost of overall product to a higher range.