Stringent Regulations in Food and Pharmaceutical Industries to Fuel North America Industrial Chillers Market Growth During Forecast Period
As the food and beverages industry is highly concerned and associated with public health, safety measures, regulations, and certifications are crucial for the industry’s market players to follow and adapt. The machinery, equipment, and processes in the food and beverages industry must work properly to enhance product quality and avoid any health hazards. The Occupational Safety and Health Administration’s (OSHA) Process Safety Management of Highly Hazardous Chemicals standard (29 CFR 1910.119) outlines requirements for managing hazards associated with processes that use highly hazardous chemicals. OSHA’s standard focuses on managing the risks associated with highly hazardous chemicals and establishes a comprehensive management program that incorporates technologies, procedures, and management practices. In addition, NQA, now a division of Element Materials Technologies, is a global provider of Testing, Inspection, and Certification (TIC) services for a diverse range of products, materials, processes, and services. NQA has extensive experience providing support services to the food sector and is well-positioned to assist organizations in implementing the industry’s best practices. The Food and Drug Administration (FDA) is responsible for protecting public health by ensuring the safety, efficacy, and security of human and veterinary drugs, biological products, medical devices, and other related products. Owners, operators, or agents in charge of domestic or foreign facilities that manufacture, process, pack, or store food for consumption in the US must register with the FDA. Failure to meet industry food safety standards can result in prosecution, product recalls, missed opportunities, and negative publicity. Thus, stringent government practices, initiatives, and regulations related to food and pharmaceutical industries foster the industrial chiller market growth.
North America Industrial Chillers Market: Industry Overview
The North America industrial chiller market is segmented on the basis of chiller type, process, and application. Based on chiller type, the industrial chiller market is segmented into water cooled chillers and air cooled chillers. In terms of process, the industrial chiller market is segmented into continuous flow chillers and immersion chillers. Based on application, the industrial chiller market is segmented into food & beverage processing, medical equipment, industrial manufacturing, and others. The scope of the North America industrial chillers market report focuses on North America (the US, Canada, and Mexico).
In terms of revenue, US dominated the North America industrial chillers market share. The pharmaceutical industry in the US is growing due to the rise in the aging population and the increase in the prevalence of chronic diseases. Amid the US-China trade war, the trade for pharmaceutical products has fueled the US pharmaceutical market. US pharmaceutical exports to China have also increased, which indicates the growing production of pharmaceutical products in the US. According to the US Census Bureau, the US global exports of immunological products have more than doubled in 2022 since 2017 due to the USG policies planned to increase the onshore manufacturing capacity of critical drugs. In addition, the government authorities are investing in fostering the pharmaceutical industry. For example, in September 2022, The Regional Challenge, funded by President Biden’s American Rescue Plan and administered by the U.S. Department of Commerce’s Economic Development Administration (EDA), awarded approximately US$ 52.9 million in grants to the Virginia Advanced Pharma Manufacturing (APM) and R&D Cluster, led by the Virginia Biotechnology Research Partnership Authority (Activation Capital), to boost Virginia’s pharmaceutical industry. Thus, growing pharmaceutical industry and increasing government investment in the expansion of the pharmaceutical industry led to the launch of pharmaceutical products, further generating the demand for chiller systems in pharmaceutical manufacturing plants
North America Industrial Chillers Market: Competitive Landscape and Key Developments
Haskris; Dimplex Thermal Solutions; Thermo Fisher Scientific Inc.; Advantage Engineering, Inc.; HYDAC International GmbH; MTA S.p.A.; KKT chillers, Inc.; Drake Refrigeration Inc; Atlas Copco AB; Daikin Industries Ltd; Carrier Global Corp; Friulair Srl; Smardt Chiller Group Inc; Trane Technologies Plc; and Blue Star Ltd are among the leading players profiled in the North America industrial chillers market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The North America industrial chillers market report provides detailed market insights, which help the key players strategize their market growth. As per the company press releases, below are a few recent key developments:
- Carrier (Carrier Corporation) introduced the AquaForce Vision 30KAV with PUREtec refrigerant, a new line of high-performance, compact process cooling chillers with ultra-low Global Warming Potential (GWP) refrigerant R-1234ze. The new chiller line is optimized for industrial processing such as food manufacturing, pharmaceuticals, chemicals, plastics, metal industries, and applications requiring ultra-reliable cooling up to -12 degrees Celsius. Carrier is part of Carrier Global Corporation, the global provider of healthy, safe, sustainable, and intelligent building and cold-chain solutions.
(Source: Carrier Corporation, Press Release, March 2022)
- Daikin Applied introduced an enhanced Navigator WWV water-cooled screw chiller with low-global warming potential (GWP) R-513A refrigerant. In addition to delivering industry-leading performance, customers can pair the new chiller with an optional Templifier TWV water heater for an energy- and cost-efficient heat recovery solution.
(Source: Daikin Applied, Press Release, March 2024)
