The current situation of the chiller industry in 2024
abstract
As an important equipment in modern industrial and commercial fields, chillers have shown strong development momentum in 2024. This article provides an in-depth analysis of the current market situation, technological development trends, and competitive landscape of the chiller industry, and explores future market growth drivers, technological innovation directions, as well as the challenges and opportunities faced. Through the research in this article, valuable references and inspirations can be provided for practitioners in the chiller industry.
1、 Current situation of chiller industry
1. Market size and growth
In recent years, the market size of chillers has continued to grow. Data shows that the global chiller market has grown from $10.16 billion in 2019 to $13.79 billion in 2023, with a compound annual growth rate of approximately 7.9%. As an important component of the chiller market, China's market size is also showing a steady growth trend. In 2023, the scale of China's chiller market will reach 20.32 billion yuan, a year-on-year increase of 12.7%, and is expected to reach about 35 billion yuan by 2024. This growth is mainly due to the rapid development of global industry and manufacturing, as well as the increasing demand for efficient, energy-saving, and environmentally friendly refrigeration technologies.
2. Application areas and requirements
Chillers are widely used in various fields such as power, chemical, food processing, medical, and data centers. With the continuous development of these industries, the demand for chillers will also continue to grow. Especially in emerging fields such as new energy, new materials, and high-end equipment manufacturing, the application of chillers will be more widespread. Different application fields have different requirements for the performance, reliability, energy conservation, and environmental protection of chillers, which also drives continuous innovation and upgrading of chiller technology.
3. Competitive landscape and technological development
Currently, the competition in the chiller market is fierce, and domestic and foreign enterprises are increasing their research and development investment to enhance product competitiveness. Some enterprises with technological advantages, brand advantages, and service advantages, such as Gree, Midea, Haier, etc., are continuously expanding their market share. At the same time, with the intensification of market competition, the operating conditions of enterprises in the chiller industry have gradually differentiated. Technological innovation has become an important means for enterprises to enhance their competitiveness. New refrigeration technologies such as carbon dioxide refrigeration and heat pipe technology are gradually being applied to chillers to improve energy efficiency, reduce consumption, and minimize environmental impact.
As an important equipment in modern industrial and commercial fields, chillers have shown strong development momentum in 2024. This article provides an in-depth analysis of the current market situation, technological development trends, and competitive landscape of the chiller industry, and explores future market growth drivers, technological innovation directions, as well as the challenges and opportunities faced. Through the research in this article, valuable references and inspirations can be provided for practitioners in the chiller industry.
1、 Current situation of chiller industry
1. Market size and growth
In recent years, the market size of chillers has continued to grow. Data shows that the global chiller market has grown from $10.16 billion in 2019 to $13.79 billion in 2023, with a compound annual growth rate of approximately 7.9%. As an important component of the chiller market, China's market size is also showing a steady growth trend. In 2023, the scale of China's chiller market will reach 20.32 billion yuan, a year-on-year increase of 12.7%, and is expected to reach about 35 billion yuan by 2024. This growth is mainly due to the rapid development of global industry and manufacturing, as well as the increasing demand for efficient, energy-saving, and environmentally friendly refrigeration technologies.
2. Application areas and requirements
Chillers are widely used in various fields such as power, chemical, food processing, medical, and data centers. With the continuous development of these industries, the demand for chillers will also continue to grow. Especially in emerging fields such as new energy, new materials, and high-end equipment manufacturing, the application of chillers will be more widespread. Different application fields have different requirements for the performance, reliability, energy conservation, and environmental protection of chillers, which also drives continuous innovation and upgrading of chiller technology.
3. Competitive landscape and technological development
Currently, the competition in the chiller market is fierce, and domestic and foreign enterprises are increasing their research and development investment to enhance product competitiveness. Some enterprises with technological advantages, brand advantages, and service advantages, such as Gree, Midea, Haier, etc., are continuously expanding their market share. At the same time, with the intensification of market competition, the operating conditions of enterprises in the chiller industry have gradually differentiated. Technological innovation has become an important means for enterprises to enhance their competitiveness. New refrigeration technologies such as carbon dioxide refrigeration and heat pipe technology are gradually being applied to chillers to improve energy efficiency, reduce consumption, and minimize environmental impact.
