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:
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.
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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.
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.
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.
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.
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:
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
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
q Building and Constructions
q Power Generation
By End Usage the global Chilled Water Storage System Market has been divided into:
By Distributional Channel the global Chilled Water Storage System Market has been divided into:
q Supermarkets and Hypermarkets
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.
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
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.
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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
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