Recirculating Chillers Market Size Worth $1.1 Billion By 2027

Recirculating Chillers Market Growth & Trends

The global recirculating chillers market size is anticipated to reach USD 1.1 billion by 2027, expanding at a CAGR of 5.1%, 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.

 Request a free sample copy or view report summary: Recirculating Chillers Market Report

Recirculating Chillers Market Report Highlights

• The laboratory segment holds the major share followed by industrial application. This growth is owing to its significant usage in rotary evaporators. Rotary evaporators have high demand in labs. Moreover, achievable temperature ranges and available variety of cooling capacity is also the vital reason for laboratory to hold the major market share

• The rack mounted type segment is expected to dominate the market owing to its advantages such as flexibility, mobility, and less space occupancy. The segment is expected to dominate the market throughout the forecast period

• Temperature range of 1°C to 100°C holds almost 50.0% of the total share owing to increasing usage of coolers offering this temperature range, in wide range of applications. Moreover, COVID-19 pandemic has increased the usage of coolers in the range 1°C to 100°C as the specimen storage and delivery requires constant temperature of 2° to 8°C. However, for extreme low temperature i.e., the range of -100°C to 0°C, coolers are very expensive.

Recirculating Chillers Market Segmentation

Grand View Research has segmented the global recirculating chillers market based on type, temperature range, application, and region:

Recirculating Chillers Type Outlook (Revenue, USD Million, 2016 - 2027)

• Rack Mounted

• Floor Mounted

• Bench Top

Recirculating Chillers Temperature Range Outlook (Revenue, USD Million, 2016 - 2027)

• -100°C to 0°C

• 1°C to 100°C

• 101°C to 200°C

Recirculating Chillers Application Outlook (Revenue, USD Million, 2016 - 2027)

• Industrial

• Laboratory

• Medical

• Others

Recirculating Chillers Region Outlook (Revenue, USD Million, 2016 - 2027)

• North America

  • U.S.

  • Canada

• Europe

  • U.K.

  • Germany

  • France

• Asia Pacific

  • China

  • India

  • Japan

• Latin America

  • Brazil

  • Mexico

• Middle East & Africa

List of the Key Players in the Recirculating Chillers Market

• BÜCHI Labortechnik AG

• Across International

• Dimplex Thermal Solutions

• LAUDA-Brinkmann

• Lytron Chillers

• Peter Huber Kältemaschinenbau