Global Vapor Compression Refrigeration System Market is valued approximately at USD XXX billion in 2019 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2020-2027.
A Vapor Compression refrigeration system uses circulating liquid refrigerant as a medium which absorbs and removes heat from the space to be cooled. The system has four components such as compressor, condenser, thermal expansion valve and evaporator. The system is most widely used in industrial application such as Food industry, Paper and pulp industry, Chemical Industry and more.
The growing pharmaceutical products manufacture increases the demand for these systems. As per Statista, the US pharmaceutical revenue in 2016 amounted to USD 321 billion which increased to USD 334 billion in 2017 and to USD 407 billion in 2018. Also, the rising paper manufacturing in India boosts the demand for these systems for energy efficiency. As per Indian paper Mills Association the industry accounts for 4% of the worlda??s paper production with a turnover of USD 6.9 billion and 750 paper mills. Similarly, the growth in Chemical industry propels the market growth.
As per United Nations Environment Programme report on the evolving Chemical Economy in 2017, Asia is the largest chemical producing and consuming region in the world amounting annual chemical sales of USD 1436.65 billion in China, followed by USD 171.11 billion sales in Japan. Also, the chemical sales amount to USD 530 billion in rest of Asia countries and USD 112.22 billion in India.
The regional analysis of global Vapor Compression Refrigeration System market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the growing demand for refrigeration in the region owing to the risng technological advancements and high production of manufacturing industries. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising manufacturing facilities would create lucrative growth prospects for the Vapor Compression Refrigeration System market across Asia-Pacific region.
Major market player included in this report are:
BRITA LP (USA)
Suez Environnement S.A.(France)
3M Purification, Inc. (USA)
H2O Innovation, Inc. (Canada)
BWT AG (Austria)
Kurita Water Industries (Japan)
Toray Industries Inc. (Japan)
Ecolab, Inc. (USA)
Doosan Heavy Industries & Construction Co., (South Korea)
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Sludge and Waste Drying
Paper and Pulp Industry
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year a?? 2017, 2018
Base year a?? 2019
Forecast period a?? 2020 to 2027
Target Audience of the Global Vapor Compression Refrigeration System Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers
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