Regional Analysis

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.

Latin America is the leading economy in renewable resources with 52% of energy being produced from renewable sources, which has resulted in a high demand for chilled water storage systems.

The Middle East is a major region for oil & gas and petroleum industries. Kuwait, Saudi Arabia, and Qatar are the important economies for the oil and gas production. Oil and gas industries have a high requirement for chilled water storage systems, which is fuelling the growth of chilled water systems market in the Middle East