South America HVAC Chillers Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Technology (Air-Cooled, Water-Cooled, and Steam-Fired), Type (Process Chillers, Scroll Chillers, Screw Chillers, Centrifugal Chillers, and Absorption Chillers), and Application (Industrial, Commercial, and Residential)
Market Introduction
The HVAC chiller market in SAM is further segmented into Brazil, Argentina, and the Rest of SAM. A continuous growth in population, revival of housing markets, and growing number of commercial and industrial units are among the kay factors contributing to the market growth in this region. Emerging green/smart building criteria are compelling HVAC chiller manufacturers to build and provide energy-efficient, technologically advanced HVAC chillers for major commercial, residential, institutional, and industrial applications, among others. Additionally, the HVAC chiller market growth in the region is driven by rapid developments in the real estate sector, including the construction projects of residential buildings, hospitals, and departmental stores. The increasing popularity of HVAC systems enabled with advanced technologies such as the IoT is providing lucrative growth opportunities for the HVAC chillers manufacturers operating in the SAM.
In case of COVID-19, SAM is highly affected especially Brazil. The COVID-19 pandemic has adversely affected many HVAC chiller vendors, which is also propelled by the shutdown of manufacturing facilities. According to the research study, Brazil was expected to witness a decline of 7.3% during the COVID-19 pandemic in FY 2020 owing to the impact of pandemic that has led to reduced operations across different locations in the country. Moreover, Argentina HVAC chillers market has also witnessed a decline of 7.2% during 2020 in its Y-o-Y growth compared to its previous financial year. In 2020, Brazil had highest number of COVID-19 cases, followed by Argentina, Colombia, and Peru, in South America. Governments of several countries in the SAM have initiated several actions to protect their citizens and contain COVID-19 spread. Brazil is home to the largest manufacturing industries among all SAM countries, and it is also the only modern aircraft manufacturing country in the region. The slowdown in aerospace, manufacturing, oil & gas operations in the SAM has impaired the supply chain. This has hampered the demand for several industrial components, including HVAC chiller systems. Thus, the outbreak of COVID-19 has been having a harsh impact on the SAM HVAC chillers market.
Market Overview and Dynamics
The SAM HVAC chillers market is expected to grow from US$ 501.54 million in 2021 to US$ 642.82 million by 2028; it is estimated to grow at a CAGR of 3.6% from 2021 to 2028. Rise in the count of data centers is anticipated to drive the growth of HVAC chillers market in near future all over the region. Data centers need a lot of energy and the main driver of data center design engineers’ work is to offer reliable, energy-efficient, and cost-effective HVAC systems. The newest commercial chiller equipment provides proven reliability, competitive energy performance and integral controls in a modular package without the requirement for water. Efficiency is a crucial factor while selecting the chiller for the data center. So, when it comes to finalizing the chiller for this application, the selection of a unit having the right compressor is a primary task. In data centers, free cooling doesn’t always need an extremely cold climate. Whenever the outdoor temperature is sufficient cold, these chillers turn off the compressors and take advantage of the favorable outdoor temperature. Now-a-days, many companies are outsourcing their data operations to the third-party providers which have got expertise in data center operations. Colocation data centers are particularly famous because they offer power, physical space, and cooling systems for local communication systems. So, increasing no. of data centers is expected to fuel the demand of HVAC chillers, thereby driving the SAM HVAC chillers market.
Key Market Segments
In terms of technology, the air-cooled segment accounted for the largest share of the SAM HVAC chillers market in 2020. In terms of type, the screw chillers segment held a larger market share of the SAM HVAC chillers market in 2020. Further, the industrial segment held a larger share of the SAM HVAC chillers market based on application in 2020.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the SAM HVAC chillers market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AIREDALE INTERNATIONAL AIR CONDITIONING LTD.; Carrier Global Corporation; DAIKIN INDUSTRIES, Ltd.; Johnson Controls, Inc.; Kaltra; LG Electronics; Mitsubishi Electric Corporation; Thermal Care, Inc.; and Trane.
Reasons to buy report
- To understand the SAM HVAC chillers market landscape and identify market segments that are most likely to guarantee a strong return
- Stay ahead of the race by comprehending the ever-changing competitive landscape for SAM HVAC chillers market
- Efficiently plan M&A and partnership deals in SAM HVAC chillers market by identifying market segments with the most promising probable sales
- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM HVAC chillers market
- Obtain market revenue forecast for market by various segments from 2021-2028 in SAM region.
SAM HVAC Chillers Market Segmentation
SAM HVAC Chillers Market - By Technology
SAM HVAC Chillers Market - By Type
SAM HVAC Chillers Market - By Application
- Industrial
- Commercial
- Residential
SAM HVAC Chillers Market - By Country
SAM HVAC Chillers Market - Company Profiles
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. SAM HVAC Chillers Market Landscape
4.1 Market Overview
4.2 SAM PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinions
5. SAM HVAC Chillers Market Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Demand for HVAC Chillers from Several Industries
5.1.2 Increasing Number of Data Centers
5.2 Market Restraints
5.2.1 Less Efficiency in Humid Environment and High Maintenance Cost
5.3 Market Opportunities
5.3.1 Economic Growth in Developing Countries
5.4 Future Trends
5.4.1 Development of IoT Enabled HVAC Chillers
5.5 Impact Analysis of Drivers and Restraints
6. HVAC Chillers Market SAM Analysis
6.1 SAM HVAC Chillers Market Overview
6.2 SAM HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
7. SAM HVAC Chillers Market Analysis By Technology
7.1 Overview
7.2 SAM HVAC Chillers Market Breakdown, By Technology (2020 and 2028)
7.3 Air-Cooled
7.3.1 Overview
7.3.2 Air-Cooled: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
7.4 Water-Cooled
7.4.1 Overview
7.4.2 Water-Cooled: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
7.5 Steam-Fired
7.5.1 Overview
7.5.2 Steam-Fired: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
8. SAM HVAC Chillers Market Analysis By Type
8.1 Overview
8.2 SAM HVAC Chillers Market Breakdown, By Type (2020 and 2028)
8.3 Process Chillers
8.3.1 Overview
8.3.2 Process Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
8.4 Scroll Chillers
8.4.1 Overview
8.4.2 Scroll Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
8.5 Screw Chillers
8.5.1 Overview
8.5.2 Screw Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
8.6 Centrifugal Chillers
8.6.1 Overview
8.6.2 Centrifugal Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
8.7 Absorption Chillers
8.7.1 Overview
8.7.2 Absorption Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
9. SAM HVAC Chillers Market Analysis By Application
9.1 Overview
9.2 SAM HVAC Chillers Market Breakdown, By Application (2020 and 2028)
9.3 Industrial
9.3.1 Overview
9.3.2 Industrial: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
9.4 Commercial
9.4.1 Overview
9.4.2 Commercial: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
9.5 Residential
9.5.1 Overview
9.5.2 Residential: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
10. SAM HVAC Chillers Market Country Analysis
10.1 Overview
10.1.1 SAM: HVAC Chillers Market- by Key Country
10.1.1.1 Brazil: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
10.1.1.1.1 Brazil: HVAC Chillers Market- by Technology
10.1.1.1.2 Brazil: HVAC Chillers Market- By Type
10.1.1.1.3 Brazil: HVAC Chillers Market- By Application
10.1.1.2 Argentina: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
10.1.1.2.1 Argentina: HVAC Chillers Market- by Technology
10.1.1.2.2 Argentina: HVAC Chillers Market- By Type
10.1.1.2.3 Argentina: HVAC Chillers Market- By Application
10.1.1.3 Rest of SAM: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
10.1.1.3.1 Rest of SAM: HVAC Chillers Market- by Technology
10.1.1.3.2 Rest of SAM: HVAC Chillers Market- By Type
10.1.1.3.3 Rest of SAM: HVAC Chillers Market- By Application
11. Impact of COVID-19 Pandemic on SAM HVAC Chillers Market
11.1 SAM: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 New Development
13. Company Profiles
13.1 LG Electronics
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Mitsubishi Electric Corporation
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Carrier Global Corporation
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 DAIKIN INDUSTRIES, Ltd.
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Thermal Care, Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Trane
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Kaltra
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Johnson Controls, Inc.
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 AIREDALE INTERNATIONAL AIR CONDITIONING LTD.
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Word Index
LIST OF TABLES
Table 1. SAM HVAC Chillers Market Revenue, and Forecast to 2028 (US$ Million)
Table 2. Brazil: HVAC Chillers Market- by Technology Revenue and Forecast to 2028 (US$ Million)
Table 3. Brazil: HVAC Chillers Market- By Type Revenue and Forecast to 2028 (US$ Million)
Table 4. Brazil: HVAC Chillers Market- By Application Revenue and Forecast to 2028 (US$ Million)
Table 5. Argentina: HVAC Chillers Market- by Technology Revenue and Forecast to 2028 (US$ Million)
Table 6. Argentina: HVAC Chillers Market- By Type Revenue and Forecast to 2028 (US$ Million)
Table 7. Argentina: HVAC Chillers Market- By Application Revenue and Forecast to 2028 (US$ Million)
Table 8. Rest of SAM: HVAC Chillers Market- by TechnologyRevenue and Forecast to 2028 (US$ Million)
Table 9. Rest of SAM: HVAC Chillers Market- By Type Revenue and Forecast to 2028 (US$ Million)
Table 10. Rest of SAM: HVAC Chillers Market- By Application Revenue and Forecast to 2028 (US$ Million)
Table 11. List of Abbreviation
LIST OF FIGURES
Figure 1. SAM HVAC Chillers Market Segmentation
Figure 2. SAM HVAC Chillers Market Segmentation By Country
Figure 3. SAM HVAC Chillers Market Overview
Figure 4. Air-Cooled HVAC Chillers Segment Held the Largest Market Share in 2020
Figure 5. Screw Chillers Segment Held the Largest Market Share in 2020
Figure 6. Industrial Segment Held the Largest Market Share in 2020
Figure 7. Brazil was the Largest Revenue Contributor in 2020
Figure 8. SAM PEST Analysis
Figure 9. SAM HVAC Chillers Market Ecosystem Analysis
Figure 10. Expert Opinions
Figure 11. SAM HVAC Chillers Market: Impact Analysis of Drivers and Restraints
Figure 12. SAM HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 13. SAM HVAC Chillers Market Breakdown, By Technology (2020 and 2028)
Figure 14. SAM Air-Cooled: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 15. SAM Water-Cooled: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 16. SAM Steam-Fired: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 17. SAM HVAC Chillers Market Breakdown, By Type (2020 and 2028)
Figure 18. SAM Process Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. SAM Scroll Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. SAM Screw Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 21. SAM Centrifugal Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 22. SAM Absorption Chillers: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 23. SAM HVAC Chillers Market Breakdown, By Application (2020 and 2028)
Figure 24. SAM Industrial: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 25. SAM Commercial: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 26. SAM Residential: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 27. SAM: HVAC Chillers Market Revenue Overview, by Country (2020) (US$ Mn)
Figure 28. SAM: HVAC Chillers Market Revenue Share, By Key Country (2020 and 2028)
Figure 29. Brazil: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 30. Argentina: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 31. Rest of SAM: HVAC Chillers Market Revenue and Forecast to 2028 (US$ Million)
Figure 32. Impact of COVID-19 Pandemic in SAM Country Markets
2. Carrier Global Corporation
3. DAIKIN INDUSTRIES, Ltd.
4. Johnson Controls, Inc.
5. Kaltra
6. LG Electronics
7. Mitsubishi Electric Corporation
8. Thermal Care, Inc.
9. Trane
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations highlight crucial progressive industry trends in the SAM 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 SAM market trends and outlook coupled with the factors driving the HVAC chillers 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