World Chiller and Air-side Equipment Market – 2023 Update – 1 OVERVIEW

The world economy shrank in 2022, inflation worsened, and energy prices skyrocketed. Applied equipment, which is used for commercial purposes, showed a dull market performance. The market outlook for 2023 was gloomy due to the economic slowdown and the exchange rate volatility.
According to JARN’s database, worldwide chiller demand in 2022 approached US$ 8.84 billion, up 0.2% compared with 2021. The major chiller markets are China, Europe, and the United States, accounting for 31.7, 19.7, and 17.2% of the world market, respectively.
Global demand for air-side equipment increased by 5.2% from 2021 to US$ 8.20 billion.