According to a recent report, the process chillers market is estimated to register steady CAGR of 5.1 percent through 2027. The study from Fact.MR says that the market, which was valued at $8 billion in 2018, surpassed 130,000 units sold in 2019.

A combination of factors such as the increasing demand for food, energy, medicine and health products are contributing significantly to this market growth. The study says that end users show preference for air-cooled chiller systems over water-cooled systems. Easy installation, lower maintenance costs and enhancements in technology supporting efficiency are fueling process chiller sales.

Read the report here.