Chilled Water Storage Systems Market Processing Equipment Market Size 2021 and Forecast to 2028

The global Chilled Water Storage System market was valued at USD 148.9 million in 2019 and it is expected to reach USD 187.4 million by the end of 2026, growing at a CAGR of 6.9% during 2021-2026.

Chilled water storage system is a type of thermal energy storage technique, which is used to store water at temperatures ranging from 4°C to 6°C. The system is made of concrete and steel. Their sizes of storage range from 1 ton to several 100 tons and are generally used for commercial and industrial or residential purpose.

A detailed report on Global Chilled Water Storage Systems Market providing a complete information on the current market situation and offering robust insights about the potential size, volume, and dynamics of the market during the forecast period, 2021-2027.

Top Key Players in Chilled Water Storage Systems  market: Cool Water Technologies, Cooling Tower Systems, Inc., Delta Cooling Towers, Inc., Johnson Controls, Berg Chilling Systems Inc., King Sun Industry Co. Ltd., and Wessels Company among others.

Regional Analysis For Chilled Water Storage Systems  Market:

Besides segmental breakdown, the report is highly structured into region wise study. The regional analysis comprehensively done by the researchers highlights key regions and their dominating countries accounting for substantial revenue share in the Chilled Water Storage Systems market. The study helps understanding how the market will fare in the respective region, while also mentioning the emerging regions growing with a significant CAGR. The following are the regions covered in this report.

Chilled Water Storage System Market Outlook:

• North America is the largest market for chilled water storage systems. The U.S is the major contributor to the chilled water storage system market in North America, owing to the development of abundant unconventional natural gas resources and shale oil boom, which has resulted in rapid industrialization, in turn fueling the demand for chilled water storage systems, on account of its efficiency and energy saving capabilities.
• Asia Pacific is the fastest growing region in chilled water storage systems market. China, India, and Japan are the major contributors to the growth of the chilled water storage systems market. Asia pacific is the largest region in food & beverages market. The food & beverage industry has a huge requirement for chilled water storage systems for a variety of applications. Further, economic stabilities in the region, rapid urbanization, and rising disposable income are the other factors responsible for the growth of chilled water storage system market in Asia Pacific.

Chilled Water Storage Market Key Developments:

• • In February 2013, Johnson Controls launched a solar cooling solution to reduce energy costs for large buildings across North America by combining its high-efficiency chillers with hybrid solar thermal and photovoltaic (PV) technologies. The company has developed this technology for capturing the market in warm environments such as Amazon and California.
  • In May 2016, Johnson Controls in collaboration with Taiwan Hitachi launched YORK, their centrifugal chiller in Taiwan. This launch helped the company in developing a new product portfolio which is more energy efficient.

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