Chiller Market in Europe to Grow by USD 593.05 Million during 2021-2025| Growing Demand for Frozen Food to Emerge as Key Driver |Technavio

NEW YORK, March 2, 2021 /PRNewswire/ -- The new chiller market in Europe research from Technavio indicates negative growth in the short term as the business impact of COVID-19 spreads.

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"One of the primary growth drivers for this market is the growing demand for frozen food," says a senior analyst for the industrials industry at Technavio. The market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the chiller market in Europe size to grow by USD 593.05 million during the period 2021-2025.

Chiller Market in Europe Segment Highlights for 2020

• The chiller market in Europe is expected to post a year-over-year growth rate of 4.02%.
• Based on the product, the screw chillers saw maximum growth in 2020. Factors such as the growing demand from the construction industry, an increasing number of data centers, coupled with growing application areas of scroll chillers across industries, are expected to drive the scroll chillers market in Europe during the forecast period.
• The market growth of the segment will be significant across the forecast period.

Regional Analysis

• 43% of the growth will originate from the Rest of the European region.
• Factors such as the rising consumption of Australian wines, the growth in the number of Kazakh grocery stores, and the increasing market activities pertaining to food delivery in the country will facilitate the chiller market growth in the rest of Europe over the forecast period.
• Market growth in this region will be faster than the growth of the market in Germany and the UK.

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Related Reports on Industrials Include:
Global HVAC Chillers Market- The HVAC chillers market is segmented by product (screw chillers, scroll chillers, centrifugal chillers, and other chillers), geography (APAC, Europe, North America, South America, and MEA), end-user (industrial sector and commercial sector), and key vendors. Get an Exclusive Free Sample Report

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 Notes:

• The chiller market in Europe size is expected to accelerate at a CAGR of almost 5% during the forecast period.
• The chiller market in Europe is segmented by product (Screw Chillers, Scroll Chillers, Centrifugal chillers, and Other chillers) and geography (Italy, France, Germany, UK, and the Rest of Europe).
• The market is fragmented due to the presence of many established vendors holding significant market share.
• The research report offers information on several market vendors, including Carrier Global Corp., Daikin Industries Ltd., Haier Smart Home Co. Ltd., Johnson Controls International Plc, Kirloskar Proprietary Ltd., LG Electronics Inc., Mitsubishi Electric Corp., Panasonic Corp., Robert Bosch GmbH, and Samsung Electronics Co. Ltd.

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