Report Description
A recent market intelligence report that is published
by Data Insights Partner on the global Chilled Water Storage System Market makes
an offering of in-depth analysis of segments and sub-segments in the regional
and international Chilled Water Storage System Market. The research also
emphasizes on the impact of restraints, drivers, and macro indicators on the regional
and global Chilled Water Storage System Market over the short as well as long
period of time. A detailed presentation of forecast, trends, and dollar values
of global Chilled Water Storage System Market is offered. In accordance with the
report, the global Chilled Water Storage System Market is projected to expand by
a healthy CAGR of 5.6% over the period of forecast.
Market Insight, Drivers, Restraints,
Opportunity & Trends of the Market:
Definition
Chilled water storage system is a storage
container made of steel, concrete, plastic etc., usually used to store water at
temperature ranging from 4.40 Celsius to 5.60 Celsius
with the help of conventional chillers. The system can be installed both under
and above the ground and can hold water based on its building material, usually
bigger sizes are made from concrete and smaller ones from plastics or steel. At
the time of discharge, the cold water at the bottom of the cistern is equally
replaced by warm water at the top of the cistern inside a Chilled Water Storage
System. The Chilled Water Storage System also has a stratified layer installed
inside of it. These systems are used in many places like agricultural, power
generating, industrial, construction sectors etc. to store and provide cold
water whenever needed.
Market Drivers
Growing need to maintain
heat density at the oil & gas refineries, power generating and automotive
manufacturing industries are the main drivers behind the rapid growth of the Chilled
Water Storage System Market. The expanding agricultural and construction sectors
are also playing very important role in the growth of the Chilled Water Storage
System Market. The rising need for chilled water in air cooling system is
another key player in this.
Beside
this, growing population, rising per capita income and rapid urbanization are also
some of the key factors behind the rapid growth of the Chilled Water Storage System Market.
Aside
from these, rising awareness regarding increasing water scarcity and foreign
investments in the said sector are also adding fuel to this increasing market
growth.
The
regular introduction of different and brand-new types of end product with better
qualities, more storage space, better cooling technology and insulation and in
different price range to satisfy the varying tastes and consumption abilities of
the customers is also attracting new consumers and thus helping the growth rate
of Chilled Water
Storage System Market to rise high. The convenience and efficiency of Chilled Water Storage System
is also helping in the expansion of the said market.
Market Restraints
The Chilled Water Storage System Market has a huge potential. Though it is
expanding very fast day by day, many things are preventing it from using its
full potential. Some of these restraints are–
? High
cost of raw materials.
? High installation, maintenance and repairing
cost.
? High cost of R&D activities.
? High cost of the premium quality end products.
? Non-durability
of many end products under extreme weather conditions.
? Unavailability of enough space to install these
products in many regions.
? Unavailability and lack of awareness about the
benefits of Chilled Water Storage Systems in the rural areas of the developing
countries.
Opportunities
The Chilled Water Storage System Market growth is mainly based on the consumption of these products in
power sectors, refineries and automotive manufacturing sectors. Due to the rising
water scarcity now-a-days the water collection and storage segment has a very
high demand and many opportunities. Followed by this the power and energy
sector will have the second largest market share due to increase in demand for
power supply.
Trends
During
the forecast period, Asia Pacific is expected to have the largest share of Chilled Water Storage System
Market. The demand for these products in the Asia Pacific region
specially in China, India, Japan, Thailand etc. is driven by its growing need in the expanding agricultural, construction
and industrial sectors of these countries. Rising population, high per capita
income and rapid urbanization are also driving this market growth. It is also believed that on
the basis of end usage, the municipal and industrial segment will have the
largest share for its high hemicellulose content, demand and efficiency and
convenience. It is also expected that by material type concrete segment will
see a very high growth rate in future for its strength, durability, efficiency
and low cost.
Segment Covered:
This market
intelligence report on the global Chilled Water Storage System Market encompasses
market segments based on material type, product type, portability, application,
end usage, distributional channel and country.
By Material
Type the global Chilled Water Storage System Market has been
divided into:
q Steel
q Fiberglass
q Concrete
q Plastics
q Others
By
Product Type the global Chilled Water Storage System Market has been
divided into:
q Stratified
Tank System
q Multiple
Tank System
q Diaphragm
Tank System
q Others
By
Portability the global Chilled Water Storage System Market has been
divided into:
q Portable
Water Storage
q On-site
or Non-portable Water Storage
By Application
the global Chilled Water Storage System Market has been
divided into:
q Water
Storage and Collection
o Rainwater
Storage
o Wastewater
Collection
o Hydraulic
Fracture Storage and Collection
o Others
q Agricultural
q Industrial
q Building
and Constructions
q Petrochemical
q Automotive
q Power
Generation
q Others
By End
Usage the global Chilled Water Storage System Market has been
divided into:
q Personal
q Commercial
q Industrial
q Municipal
By Distributional
Channel the global Chilled Water Storage System Market has been
divided into:
q Supermarkets
and Hypermarkets
q Online
q Others
By country/region,
the global Chilled Water Storage System Market has been
divided into:
q North
America (the U.S., Canada),
q Latin
America (Brazil, Mexico, Argentina and other countries),
q Europe
(Germany, France, the U.K., Spain, Italy, Russia, and other countries),
q Asia
Pacific (India, Japan, China, Australia and New Zealand and other countries),
q Middle
East and Africa (GCC, South Africa, Israel and Other countries).
Profiling of Market
Players:
This business
intelligence report offers profiling of reputed companies that are operating in
the market. Companies such as:
q Wessels Company
q Cooling Tower Systems, Inc.
q Cool Water Technologies
q Delta Cooling Towers, Inc.
q Brentwood Industries, Inc.
q Johnson Controls
q Liang Cooling Tower Sdn Bhd and King Sun
Industry Co. Ltd.
q Paharpur Cooling Towers Limited
q Berg Chilling Systems Inc.
q Horus Air Moving Co. Ltd.
q KingSun Industry
others have been profiled into detail so as to offer a
glimpse of the market leaders. Moreover, parameters such as Chilled Water
Storage System Market related investment & spending and developments by
major players of the market are tracked in this global report.
Report Highlights:
In-depth analysis of the micro and macro indicators, market
trends, and forecasts of demand is offered by this business intelligence report.
Furthermore, the report offers a vivid picture of the factors that are steering
and restraining the growth of this market across all geographical segments. In
addition to that, IGR-Growth Matrix analysis is also provided in the report so
as to share insight of the investment areas that new or existing market players
can take into consideration. Various analytical tools such as DRO analysis,
Porter's five forces analysis has been used in this report to present a clear
picture of the market. The study focuses on the present market trends and
provides market forecast from the year 2020-2028. Emerging trends that would
shape the market demand in the years to come have been highlighted in this
report. A competitive analysis in each of the geographical segments gives an
insight into market share of the global players.
Few Recent Developments
Wessels Company
The Wessels Company, headquartered in Greenwood, Indiana, has
been dominating the world market for Chilled Water Storage Systems for a long
time. The company has an excellent reputation for producing top quality chilled
water HVAC systems. They also have been certified by ASME and meets the
Japanese Inspection Standard (JIS) which has increased the trust of its
consumer in the company even more. They also built chilled water buffer tanks
or CBTs for smaller storage capacity with excellent cooling systems in a lower
cost than chilled storage systems for the convenience of their customers.
Delta Cooling Towers, Inc.
In 1970 Delta Cooling Towers Inc., situated in USA and
one of the leading market players in Chilled Water Storage Systems Market, was
the first ever company to manufacture a seamless, non-corrosive, polyethylene
cooling tower line with the invention of the Pioneer Series. Now the
company has introduced another new line known as the Paragon Series Induced
Draft Cooling Towers which has brought and expanded their single non-corroding
cooling tower capacity up to 250 tons. The company has developed a packaged
cooling system with closed-circuit cooling system, closed-loop system with
plate heat exchanger to make the freezing system better and stop evaporation of
water in a lower cost and with more efficiency.
Berg Chilling Systems Inc.
Since 1972, the Canadian company Beg Chilling Systems Inc.
has been designing, manufacturing and installing thermal process control
systems for various companies, sectors, countries and regions all over the
world. The company has been focusing on R&D activities to make their
products more durable and provide a better chilling system. The company is also
trying to gain market power by expanding their business through various
acquisitions of companies and signing contracts for cooperation.
Salient Features:
Ø
This study offers
comprehensive yet detailed analysis of the Chilled
Water Storage System Market, size of the
market (US$ Mn), and Compound Annual Growth Rate (CAGR (%)) for the period of
forecast: 2020-2028, taking into account 2019 as the base year
Ø
It explains upcoming
revenue opportunities across various market segments and attractive matrix of
investment proposition for the said market
Ø
This market
intelligence report also offers pivotal insights about various market opportunities,
restraints, drivers, competitive market strategies of leading market players,
emerging market trends, and regional outlook
Ø
Profiling of
key market players in the world Chilled Water Storage System Market is done by
taking into account various parameters such as company strategies, distribution
strategies, product portfolio, financial performance, key developments,
geographical presence, and company overview
Ø
The data of
this report would allow management authorities and marketers of companies alike
to take informed decision when it comes to launch of different type of models,
government initiatives, marketing tactics and expansion, and technical up
gradation
Ø
The world
market for Chilled Water Storage System caters to the needs of various stakeholders pertaining to this
industry, namely suppliers, manufacturers, investors, and distributors for Chilled
Water Storage System Market. The research
also caters to the rising needs of consulting and research firms, financial
analysts, and new market entrants
Ø
Research
methodologies that have been adopted for the purpose of this study have been
clearly elaborated so as to facilitate better understanding of the reports
Ø
Reports have
been made based on the guidelines as mandated by General Data Protection
Regulation
Ø
Ample number
of examples and case studies have been taken into consideration before coming
to a conclusion
Reasons to buy:
v
Identify
opportunities and plan strategies by having a strong understanding of the investment
opportunities in the Chilled Water Storage System Market
v
Identification
of key factors driving investment opportunities in the Chilled Water
Storage System Market
v
Facilitate
decision-making based on strong historic and forecast data
v
Position
yourself to gain the maximum advantage of the industry’s growth potential
v
Develop
strategies based on the latest regulatory events
v
Identify key
partners and business development avenues
v
Respond to
your competitors’ business structure, strategy and prospects
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