Industrial Air Chiller Market Research, 2031 The global industrial air chiller market was valued at $4.7 billion in 2021, and is projected to reach $7.3 billion by 2031, growing at a CAGR of 4.3% from 2022 to 2031. The global industrial air chiller market size was valued at $ 4,669.1 million in 2021, and is projected to reach $ 7,252.9 million by 2031, registering a CAGR of 4.3% from 2022 to 2031. Industrial air chillers are used for eliminating heat from various industrial processes. This is achieved by blowing ambient air via a fan around the condenser containing the heated refrigerant or fluid. Industrial air chillers primarily comprise four basic parts, which include condenser, expansion valve, evaporator, and compressor. A large number of industrial machineries are susceptible to failing, owing to their higher operating temperatures, especially, those use in manufacturing industries. Manufacturing industries use high temperatures in many of their processes and operations such as melting, casting, and welding. Therefore, for controlling temperature of such machines and preventing them from overheating, industrial air chillers are widely used. Furthermore, the pharmaceuticals industry is witnessing a notable growth, owing to rise in elderly population and increase in number of communicable and non-communicable diseases. It uses industrial air chillers for maintaining low temperature for safe storage of drugs and other chemicals. Hence, growth in the pharmaceutical industry is expected to boost demand for industrial air chiller industry. Moreover, rapid rise in the economic standards and global population propel demand of chillers in the energy sector, especially for fuel and electricity. This has led to rise in demand for industrial air chillers in the energy sector. Major players in the industry offer a wide range of air-cooled chillers for applications in various industries. Furthermore, they have launched new and advanced air-cooled chillers to stay competitive in the market. For instance, in March 2022, Carrier Global Corporation (UK), launched AquaForce Vision 30KAV, a new line air-cooled chiller. This new line comes with R-1234ze, which is an ultra-low global warming potential (GWP) refrigerant. This can provide cooling up to -12degree Celsius, and is applicable in food manufacturing, pharmaceuticals, chemicals, plastics, and metal industries. Moreover, business expansion strategy plays a vital role in keeping manufacturers competitive. For instance, in August 2021, Blue Star Limited, established an air-cooled chillers testing facility at their R&D center at Maharashtra, India. Get Free Sample:-https://www.alliedmarketresearch.com/request-sample/10362 The novel coronavirus had spread rapidly across various countries and regions, causing an enormous impact on lives of people and the overall community. It began as a human health condition and later became a significant threat to global trade, economy, and finance. The COVID-19 pandemic had halted production of many components of industrial air chillers due to lockdown. The economic slowdown initially resulted in reduced spending on various industrial air chillers by industrial and commercial users. However, owing to introduction of various vaccines, the severity of COVID-19 pandemic has significantly reduced. As of mid-2022, the number of COVID-19 cases have significantly reduced. This has led to full-fledged reopening of industrial air chillers manufacturing companies at their full-scale capacities. Furthermore, it has been more than two years since the outbreak of this pandemic, and many companies have already shown notable signs of industrial air chiller market growth. Furthermore, rise in globalization and increase in internet and other remote communication technologies have significantly contributed toward rapid growth of the IT sector. Computers, servers, and other electronic machineries of the IT sector produce a high amount of heat, which hampers efficiency of the machines. Therefore, the IT sector utilizes industrial air chillers for cooling their machines. In addition, availability of industrial air-cooled chillers in a wide range of capacities and sizes makes them useful for all large- and small-scale industries. These factors are expected to drive demand for industrial air chillers. Competition Analysis Key companies profiled in the industrial air chiller market report include Airedale International Air Conditioning Ltd., Blue Star Limited, Carrier Global Corporation, Daikin Industries, Ltd., GEM Orion Machinery Private Limited, Hiver Aircon Pvt.Ltd, Jiangsu Huazhao Refrigeration Equipment CO., Ltd., Johnson Controls International PLC, Mitsubishi Electric Corporation, and Trane Technologies Company, LLC. Full Report With TOC:-https://www.alliedmarketresearch.com/industrial-air-chiller-market-A09997