Product Code: GVR-4-68038-676-9
Recirculating Chillers Market Growth & Trends:
The global recirculating chillers market size is anticipated to reach USD 2.16 billion by 2030, expanding at a CAGR of 10.1%, according to a study conducted by Grand View Research, Inc. The market is projected to grow at a significant rate owing to increased usage of recirculating chillers in several application areas such as pharmaceuticals, medical, manufacturing, and data centres in IT, telecom, and BFSI. Increasing importance of energy-efficient products is also expected to have a positive impact on the market. Moreover, automation in the industry verticals requires necessary maintenance for proper functioning which can be achieved by the implementation of recirculating coolers.
Traditional coolers use more than 50.0 percent of energy for cooling; hence recirculating chillers are being adopted widely. Additionally, recirculating coolers or closed loop systems saves 90.0% of the total water used by the open loop cooler system and therefore they are also termed as renewable coolers. Hence, the growing adoption of sustainable yet efficient cooling solutions across industries and laboratories are expected to have a positive impact on market growth.
There are various types of recirculating chillers such as, rack mounted, floor mounted, and bench top. The rack mounted segment has wide range of applications as this product type is portable and smaller in size. Multiple coolers can be assembled into one rack and can be used as per the convenience of the user. The front fill reservoir access available in rack mounted chillers reduces spills. Similarly, benchtop coolers are portable and offer flexibility in terms of operations. Such factors are expected to bolster market growth.
The heat exchangers installed in the coolers provide thermal stability and suffices the requirement of automation. Moreover, availability of water-based as well as air-based coolers gives the users a range of products. However, high maintenance and installation cost associated with the product is expected to cause hindrance in market growth.
Recirculating Chillers Market Report Highlights:
- The pharmaceutical application segment is expected to experience the fastest growth from 2024 to 2030. This is attributed to the increasing need for effective cooling solutions in pharmaceutical industry production facilities, storage units, and other settings.
- The air-cooled recirculating chillers segment dominated the global market and accounted for a revenue share of 58.1% in 2023. Air-cooler recirculating chillers are primarily used in settings or application areas where space has aesthetic value or does not have water access for water-cooler chillers.
- Based on temperature range, the 1°C to 100°C segment accounted for the largest revenue share in 2023. Growth in this segment is mainly driven by the increasing use of recirculating chillers in data centers, food and beverage production units, automotive and commercial semiconductor manufacturing facilities, and others.
- Asia Pacific recirculating chillers market is expected to experience the fastest CAGR from 2024 to 2030. The increasing number of manufacturing plants largely influences this market set up in the region, especially in countries such as China, India, and others.
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation and Scope
- 1.2. Market Definitions
- 1.3. Research Methodology
- 1.3.1. Information Procurement
- 1.3.2. Information or Data Analysis
- 1.3.3. Market Formulation & Data Visualization
- 1.3.4. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.3. Competitive Insights
Chapter 3. Recirculating Chillers Market Variables, Trends, & Scope
- 3.1. Market Introduction/Lineage Outlook
- 3.2. Market Size and Growth Prospects (USD Million)
- 3.3. Market Dynamics
- 3.3.1. Market Drivers Analysis
- 3.3.2. Market Restraints Analysis
- 3.4. Recirculating Chillers Market Analysis Tools
- 3.4.1. Porter's Analysis
- 3.4.1.1. Bargaining power of the suppliers
- 3.4.1.2. Bargaining power of the buyers
- 3.4.1.3. Threats of substitution
- 3.4.1.4. Threats from new entrants
- 3.4.1.5. Competitive rivalry
- 3.4.2. PESTEL Analysis
- 3.4.2.1. Political Landscape
- 3.4.2.2. Economic and Social Landscape
- 3.4.2.3. Technological Landscape
- 3.4.2.4. Environmental Landscape
- 3.4.2.5. Legal Landscape
Chapter 4. Recirculating Chillers Market: Type Estimates & Trend Analysis
- 4.1. Segment Dashboard
- 4.2. Recirculating Chillers Market: Type Movement Analysis, 2023 & 2030 (USD Billion)
- 4.2.1. Air-cooled
- 4.2.1.1. Air-cooled Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 4.2.2. Water-cooled
- 4.2.2.1. Water-cooled Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 5. Recirculating Chillers Market: Temperature Range Estimates & Trend Analysis
- 5.1. Segment Dashboard
- 5.2. Recirculating Chillers Market: Temperature Range Movement Analysis, 2023 & 2030 (USD Billion)
- 5.2.1. -100°C to 0°C
- 5.2.1.1. -100°C to 0°C Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.2.2. 1°C to 100°C
- 5.2.2.1. 1°C to 100°C Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 5.2.3. 101°C to 200°C
- 5.2.3.1. 101°C to 200°C Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 6. Recirculating Chillers Market: Application Estimates & Trend Analysis
- 6.1. Segment Dashboard
- 6.2. Recirculating Chillers Market: Application Movement Analysis, 2023 & 2030 (USD Billion)
- 6.2.1. Industrial
- 6.2.1.1. Industrial Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.2.2. Laboratory
- 6.2.2.1. Laboratory Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.2.3. Medical
- 6.2.3.1. Medical Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.2.4. Pharmaceuticals
- 6.2.4.1. Pharmaceuticals Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 6.2.5. Others
- 6.2.5.1. Other Applications Market Revenue Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 7. Recirculating Chillers Market: Regional Estimates & Trend Analysis
- 7.1. Recirculating Chillers Market Share, By Region, 2023 & 2030 (USD Billion)
- 7.2. North America
- 7.2.1. North America Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.2. U.S.
- 7.2.2.1. U.S. Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.3. Canada
- 7.2.3.1. Canada Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.2.4. Mexico
- 7.2.4.1. Mexico Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3. Europe
- 7.3.1. Europe Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.2. UK
- 7.3.2.1. UK Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.3. Germany
- 7.3.3.1. Germany Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.3.4. France
- 7.3.4.1. France Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4. Asia Pacific
- 7.4.1. Asia Pacific Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.2. Japan
- 7.4.2.1. Japan Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.3. China
- 7.4.3.1. China Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.4. India
- 7.4.4.1. India Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.5. Australia
- 7.4.5.1. Australia Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.4.6. South Korea
- 7.4.6.1. South Korea Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5. Latin America
- 7.5.1. Latin America Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.5.2. Brazil
- 7.5.2.1. Brazil Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6. Middle East and Africa
- 7.6.1. Middle East and Africa Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.2. South Africa
- 7.6.2.1. South Africa Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.3. UAE
- 7.6.3.1. UAE Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
- 7.6.4. Saudi Arabia
- 7.6.4.1. Saudi Arabia Recirculating Chillers Market Estimates and Forecasts, 2018 - 2030 (USD Billion)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis by Key Market Participants
- 8.2. Company Categorization
- 8.3. Company Heat Map Analysis
- 8.4. Company Profiles
- 8.4.1. Thermo Fisher Scientific Inc.
- 8.4.1.1. Participant's Overview
- 8.4.1.2. Financial Performance
- 8.4.1.3. Product Benchmarking
- 8.4.1.4. Recent Developments/ Strategic Initiatives
- 8.4.2. JULABO GmbH
- 8.4.2.1. Participant's Overview
- 8.4.2.2. Financial Performance
- 8.4.2.3. Product Benchmarking
- 8.4.2.4. Recent Developments/ Strategic Initiatives
- 8.4.3. LAUDA-Brinkmann, LP
- 8.4.3.1. Participant's Overview
- 8.4.3.2. Financial Performance
- 8.4.3.3. Product Benchmarking
- 8.4.3.4. Recent Developments/ Strategic Initiatives
- 8.4.4. Lytron Inc. (Boyd)
- 8.4.4.1. Participant's Overview
- 8.4.4.2. Financial Performance
- 8.4.4.3. Product Benchmarking
- 8.4.4.4. Recent Developments/ Strategic Initiatives
- 8.4.5. PolyScience
- 8.4.5.1. Participant's Overview
- 8.4.5.2. Financial Performance
- 8.4.5.3. Product Benchmarking
- 8.4.5.4. Recent Developments/ Strategic Initiatives
- 8.4.6. SP Industries
- 8.4.6.1. Participant's Overview
- 8.4.6.2. Financial Performance
- 8.4.6.3. Product Benchmarking
- 8.4.6.4. Recent Developments/ Strategic Initiatives
- 8.4.7. Dimplex Thermal Solutions
- 8.4.7.1. Participant's Overview
- 8.4.7.2. Financial Performance
- 8.4.7.3. Product Benchmarking
- 8.4.7.4. Recent Developments/ Strategic Initiatives
- 8.4.8. Peter Huber Kaltemaschinenbau AG
- 8.4.8.1. Participant's Overview
- 8.4.8.2. Financial Performance
- 8.4.8.3. Product Benchmarking
- 8.4.8.4. Recent Developments/ Strategic Initiatives
- 8.4.9. BOC Edwards
- 8.4.9.1. Participant's Overview
- 8.4.9.2. Financial Performance
- 8.4.9.3. Product Benchmarking
- 8.4.9.4. Recent Developments/ Strategic Initiatives
- 8.4.10. Across International
- 8.4.10.1. Participant's Overview
- 8.4.10.2. Financial Performance
- 8.4.10.3. Product Benchmarking
- 8.4.10.4. Recent Developments/ Strategic Initiatives
- 8.4.11. ICS Cool Energy Limited
- 8.4.11.1. Participant's Overview
- 8.4.11.2. Financial Performance
- 8.4.11.3. Product Benchmarking
- 8.4.11.4. Recent Developments/ Strategic Initiatives
- 8.4.12. Haskris
- 8.4.12.1. Participant's Overview
- 8.4.12.2. Financial Performance
- 8.4.12.3. Product Benchmarking
- 8.4.12.4. Recent Developments/ Strategic Initiatives
- 8.4.13. Cole-Parmer Instrument Company, LLC.
- 8.4.13.1. Participant's Overview
- 8.4.13.2. Financial Performance
- 8.4.13.3. Product Benchmarking
- 8.4.13.4. Recent Developments/ Strategic Initiatives
- 8.4.14. FRYKA-Kaltetechnik GmbH
- 8.4.14.1. Participant's Overview
- 8.4.14.2. Financial Performance
- 8.4.14.3. Product Benchmarking
- 8.4.14.4. Recent Developments/ Strategic Initiatives