Philippines HVAC Chillers Market Forecast to 2030 – COVID-19 Impact and Country Analysis – by Technology (Water Cooled, Air Cooled, and Steam Fired), Type (Screw Chillers, Centrifugal Chillers, Scroll Chillers, Process Chillers, and Absorption Chillers), and Application (Commercial, Industrial, and Residential)
The Philippines HVAC chillers market size is expected to grow from US$ 120.24 million in 2022 and is expected to reach US$ 165.35 million by 2030; it is estimated to register a CAGR of 4.2% from 2023 to 2030.
Philippines HVAC Chillers Market Introduction
An HVAC chiller is considered a thermal device that controls the temperature by circulating liquid whose temperature is adjusted by a refrigerant cycle. HVAC chillers are commonly used to cool products and machinery for different applications, including injection moulding, tool and die cutting, food and beverage, chemicals, lasers, machine tools, and semiconductors. It is also used for air conditioning in buildings and factories to maintain the temperature of several industrial devices and laboratory instruments, apparatuses, and equipment at a stable level. . It solves various cooling problems and can lessen running costs while improving energy efficiency. HVAC chillers comprise four main components: compressor, evaporator, condenser, and thermal expansion valve.
Philippines HVAC Chillers Market Trend
Software-enabled HVAC chillers collect data and compile it into reports to identify usage trends, system status, and past performance, which can be used to plan preventive maintenance and identify the source of predicted malfunctions for accelerating the repair process. Some modern software-enabled HVAC chillers can self-diagnose irregularities, thus minimizing downtime. Moreover, smart HVAC chillers are coupled with IoT to improve buildings’ efficiency and profitability. HVAC chiller manufacturers are widely implementing the Internet of Things (IoT) to embed sensors and other devices into heating & cooling equipment to monitor and collect data regarding the performance and conditions of the systems.
HVAC chillers are highly energy intensive, contributing massively to a building’s overall energy consumption. Additionally, excessive energy consumption by chillers leaves a deteriorating environmental impact. To overcome these concerns, facilities are looking for innovative and energy-efficient solutions, including HVAC systems running on solar panels and wind turbines, to reduce energy costs. Further, the use of geothermal heating and cooling methods is also on the rise to eliminate the use of petroleum-based electricity. Thermally driven ACs are already in the phase of development. Thus, smart, connected, and eco-friendly HVAC chillers are emerging as a significant trend in the Philippines HVAC chillers market growth.
Philippines HVAC Chillers Key Market Segments
On the basis of application, the Philippines HVAC chillers market is segmented into commercial, industrial, and residential. The commercial segment held the largest share in the market in 2022. HVAC chillers are widely used in various commercial facilities such as hotels, hospitals, schools, warehouses, manufacturing complexes, restaurants, sports arenas, and other large buildings. Commercial water chiller has several advantages—it operates with higher energy efficiency, water provides better heat conductivity than air, the chiller’s equipment has a longer shelf life (generally over 20 years), the commercial chillers are easy to control, and they also make efficient use of installation space. Water-cooled commercial chillers are frequently used in medium- to large-scale building applications, but air-cooled commercial chillers are more common in small- to medium-scale building applications. Water-cooled commercial chillers function more consistent and efficient than air cooling. They typically last longer because these systems are often installed indoors.
Major Sources and Companies Listed
LG Electronics and Daikin Industries LTD, Mitsubishi Electric Corporation, Johnson Controls, Honeywell International Inc, Trane, Siemens, Panasonic Corporation, Midea, and Carrier are some of the key Philippines HVAC chillers market players. Various other companies are also introducing new technologies and offerings, helping the Philippines HVAC chillers market players to expand their business in terms of revenue.
Reasons to Buy Report
- To understand the Philippines HVAC chillers market landscape and identify market segments that are most likely to guarantee a strong return.
- To stay ahead of the race by comprehending the ever-changing competitive landscape for the Philippines HVAC chillers market.
- To efficiently plan M&A and partnership deals in the Philippines HVAC chillers market analysis by identifying market segments with the most promising probable sales.
- To make knowledgeable business decisions from the perceptive and comprehensive analysis of the market performance of various Philippines HVAC chillers market segments.
- To obtain revenue forecast for the market by various segments from 2022 to 2028 in US$.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
1.3.1 Philippines HVAC Chillers Market – By Technology
1.3.2 Philippines HVAC Chillers Market – By Type
1.3.3 Philippines HVAC Chillers Market- By Application
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. HVAC Chillers Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 Philippines
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. HVAC Chillers Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Increase in Number of Construction Projects
5.1.2 Rapid Growth of Manufacturing Sector
5.2 Market Restraints
5.2.1 High Maintenance Cost
5.3 Market Opportunities
5.3.1 Increasing Number of Data Centers
5.4 Trends
5.4.1 Smart, Connected, and Eco-Friendly HVAC Chillers
5.5 Impact Analysis of Drivers and Restraints
6. HVAC Chillers Market – Regional Analysis
6.1 Philippines HVAC Chillers Market Overview
6.2 Philippines HVAC Chillers Market – Revenue and Forecast to 2030 (US$ Million)
6.3 Market Positioning – Five Key Players
7. HVAC Chillers Market Analysis – By Technology
7.1 Overview
7.2 HVAC Chillers Market, By Technology (2022 and 2030)
7.3 Water Cooled
7.3.1 Overview
7.3.2 Water Cooled: HVAC Chillers Market – Revenue, and Forecast to 2030 (US$ Million)
7.4 Air Cooled
7.4.1 Overview
7.4.2 Air Cooled: HVAC Chillers Market – Revenue, and Forecast to 2030 (US$ Million)
7.5 Steam Fired
7.5.1 Overview
7.5.2 Steam Fired: HVAC Chillers Market – Revenue, and Forecast to 2030 (US$ Million)
8. HVAC Chillers Market Analysis – By Type
8.1 Overview
8.2 HVAC Chillers Market, By Type (2022 and 2030)
8.3 Screw Chillers
8.3.1 Overview
8.3.2 Screw Chillers: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
8.3.3 Screw Chillers: Market Share Analysis
8.4 Centrifugal Chillers
8.4.1 Overview
8.4.2 Centrifugal Chillers: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
8.4.3 Centrifugal Chillers: Market Share Analysis
8.5 Scroll Chillers
8.5.1 Overview
8.5.2 Scroll Chillers: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
8.5.3 Scroll Chillers: Market Share Analysis
8.6 Absorption Chillers
8.6.1 Overview
8.6.2 Absorption Chillers: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
8.6.3 Absorption Chillers: Market Share Analysis
8.7 Process Chillers
8.7.1 Overview
8.7.2 Process Chillers: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
8.7.3 Process Chillers: Market Share Analysis
9. HVAC Chillers Market Analysis – By Application
9.1 Overview
9.2 HVAC Chillers Market, By Application (2022 and 2030)
9.3 Commercial
9.3.1 Overview
9.3.2 Commercial: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
9.4 Industrial
9.4.1 Overview
9.4.2 Industrial: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
9.5 Residential
9.5.1 Overview
9.5.2 Residential: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
10. Impact of COVID-19 Pandemic on Philippines HVAC Chillers Market
10.1 Overview
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.2 New Product Development
11.3 Merger and Acquisition
12. Company Profiles
12.1 LG Electronics Inc
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Daikin Industries Ltd
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Mitsubishi Electric Corp
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Johnson Controls International Plc
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 Honeywell International Inc
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 Trane Technologies Plc
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Panasonic Holdings Corp
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Midea Group Co Ltd
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 Airedale International Air Conditioning Ltd
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Carrier Global Corp
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners
13.2 Word Index
LIST OF TABLES
Table 1. Philippines HVAC Chillers Market – Revenue and Forecast to 2030 (US$ Million)
Table 2. List of Abbreviation
LIST OF FIGURES
Figure 1. HVAC Chillers Market Segmentation
Figure 2. HVAC Chillers Market Segmentation – By Geography
Figure 3. Philippines HVAC Chillers Market Overview
Figure 4. Water Cooled Segment held the Largest Share of HVAC Chillers Market
Figure 5. Screw Chillers Segment held the Largest Share of HVAC Chillers Market
Figure 6. Commercial Segment held the Largest Share of HVAC Chillers Market
Figure 8. Philippines: PEST Analysis
Figure 9. Expert Opinion
Figure 10. HVAC Chillers Market Impact Analysis of Drivers and Restraints
Figure 11. HVAC Chillers Market – Philippines
Figure 12. HVAC Chillers Market – Revenue and Forecast to 2030 (US$ Million)
Figure 13. HVAC Chillers Market Revenue Share, By Technology (2022 and 2030)
Figure 14. Water Cooled: HVAC Chillers Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 15. Air Cooled: HVAC Chillers Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 16. Steam Fired: HVAC Chillers Market – Revenue, and Forecast to 2030 (US$ Million)
Figure 17. HVAC Chillers Market Revenue Share, By Type (2022 and 2030)
Figure 18. Screw Chillers: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
Figure 19. Screw Chillers: Market Share Analysis
Figure 20. Centrifugal Chillers: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
Figure 21. Centrifugal Chillers: Market Share Analysis
Figure 22. Scroll Chillers: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
Figure 23. Scroll Chillers: Market Share Analysis
Figure 24. Absorption Chillers: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
Figure 25. Absorption Chillers: Market Share Analysis
Figure 26. Process Chillers: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
Figure 27. Process Chillers: Market Share Analysis
Figure 28. HVAC Chillers Market Revenue Share, By Application (2022 and 2030)
Figure 29. Commercial: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
Figure 30. Industrial: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
Figure 31. Residential: HVAC Chillers Market- Revenue and Forecast to 2030 (US$ Million)
Figure 32. Impact of Covid-19 Pandemic on Philippines Country Markets
- LG Electronics Inc
- Daikin Industries Ltd
- Mitsubishi Electric Corp
- Johnson Controls International Plc
- Honeywell International Inc
- Trane Technologies Plc
- Panasonic Holdings Corp
- Midea Group Co Ltd
- Airedale International Air Conditioning Ltd
- Carrier Global Corp
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the Philippines HVAC chillers market
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations such as specific country and segmental insight highlights crucial progressive industry trends in the Philippines HVAC chillers market, thereby allowing players across the value chain to develop effective long-term strategies
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution