Being driven by the surging need for energy, high investment in the chemical and petrochemical industries
PUNE, India — The global chillers market is forecast to grow from $8.63 billion in 2015 to $10.84 billion by 2021, increasing at a compound annual growth rate (CAGR) of 4.24 percent, according to a new report from MarketsandMarkets.
The market is being driven by the surging need for energy and high investment in the chemical and petrochemical industries. Among the regions studied, Asia-Pacific and the Middle East and Africa are expected to witness high growth during the forecast period. Also, demand across these regions is being reinforced by the emerging markets, namely, China and India.