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report thumbnailChillers Market

Chillers Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2025-2033

Chillers Market by Type (Screw Chillers, Scroll Chillers, Centrifugal Chillers, Others), by Application (Chemicals, Petrochemicals, Food, Beverages, Plastics, Rubber, Medical, Others), by By Geography (North America, Europe, Asia Pacific, Middle East & Africa, Latin America) Forecast 2026-2034

Jan 26 2026

Base Year: 2025

180 Pages

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Chillers Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2025-2033

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Chillers Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2025-2033


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Key Insights

The global Chillers Market was valued at USD 9.65 billion in 2023 and is projected to reach USD 35.19 billion by 2032, driven by a Compound Annual Growth Rate (CAGR) of 4.9% from the base year 2025.

Chillers Market Research Report - Market Overview and Key Insights

Chillers Market Market Size (In Billion)

15.0B
10.0B
5.0B
0
10.76 B
2025
11.29 B
2026
11.84 B
2027
12.42 B
2028
13.03 B
2029
13.67 B
2030
14.34 B
2031
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This report details the comprehensive market analysis for chillers, essential equipment for fluid cooling and air dehumidification across commercial, industrial, and residential sectors. The market encompasses diverse applications such as air conditioning, process cooling, and energy management. Key product segments include air-cooled, water-cooled, and evaporative chillers, utilizing technologies like scroll, screw, centrifugal, and absorption cycles. Factors propelling market expansion include a growing demand for energy-efficient cooling solutions, technological advancements, and stringent environmental regulations. The inherent benefits of chillers, such as low energy consumption, precise temperature control, minimal maintenance, and environmental friendliness, further underscore their market significance. Leading industry players are focusing on new product development, sustainability initiatives, and cost optimization as primary competitive strategies.

Chillers Market Market Size and Forecast (2024-2030)

Chillers Market Company Market Share

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Chillers Trends

  • Increasing adoption of centrifugal chillers due to their ability to provide higher cooling capacities.
  • Growing popularity of scroll chillers for small and medium-sized applications due to their low noise levels and compact size.
  • Rising demand for chillers equipped with advanced features such as variable speed drives (VSDs) and microprocessors.

Driving Forces: What's Propelling the Chillers Market

  • Increasing Focus on Energy Efficiency: The global push towards sustainability is significantly impacting the chillers market. Businesses are actively seeking energy-efficient solutions to reduce operational costs and minimize their environmental footprint. This demand is driving innovation in chiller technology, leading to more efficient and effective cooling systems.
  • Robust Demand Across Diverse Sectors: The need for reliable cooling is expanding across a wide range of industries. From manufacturing plants requiring precise temperature control to the ever-growing demands of data centers and the critical temperature-sensitive needs of the healthcare sector, the consistent need for efficient chillers is fueling market expansion. This diverse demand ensures a strong and resilient market.
  • Stringent Environmental Regulations and Growing Sustainability Concerns: Governments worldwide are implementing stricter environmental regulations to curb greenhouse gas emissions. This is pushing the adoption of eco-friendly refrigerants and energy-efficient chiller designs. Consumers and businesses alike are increasingly prioritizing sustainable practices, further accelerating the market for environmentally conscious cooling solutions.
  • Technological Advancements: Continuous advancements in chiller technology, including the development of innovative compressor designs, advanced control systems, and the integration of smart technologies, are contributing to improved efficiency, reduced maintenance, and enhanced performance, driving market growth.

Challenges and Restraints in Chillers Market

  • High initial investment cost of chillers.
  • Limited availability of skilled technicians for installation and maintenance.
  • Fluctuating prices of raw materials can impact the production costs of chillers.

Emerging Trends in Chillers

  • Adoption of IoT-enabled chillers to enhance operational efficiency.
  • Integration of artificial intelligence (AI) to optimize chiller performance.
  • Development of hybrid chillers that combine different technologies to improve energy efficiency.

Growth Catalysts in Chillers Industry

  • Government regulations and incentives promoting energy-efficient cooling solutions.
  • Technological advancements leading to the development of more efficient and cost-effective chillers.
  • Increasing demand for cooling solutions in healthcare and data centers.

Market Segmentation: Chillers Analysis

By Type:

  • Screw Chillers
  • Scroll Chillers
  • Centrifugal Chillers
  • Others

By Application:

  • Chemicals and Petrochemicals
  • Food And Beverages
  • Plastics
  • Rubber
  • Medical
  • Others

Leading Players in the Chillers Market

  • Daikin
  • Johnson Controls
  • Johnson Controls-Hitachi Air Conditioning
  • Mitsubishi Heavy Industries, Ltd.
  • Polaris Industries Australasia
  • LG Electronics
  • Midea
  • Dunham-Bush Americas
  • Chongqing General Industry Co., Ltd.
  • Carrier Corporation

Significant developments in the Chillers Sector

  • In February 2023, Johnson Controls acquired B&W Thermal to expand its chiller offerings.
  • In January 2023, Daikin launched a new line of centrifugal chillers with improved efficiency and sustainability features.
  • In November 2022, Mitsubishi Heavy Industries introduced a new series of scroll chillers designed for commercial applications.

Comprehensive Coverage Chillers Market Report

The report provides a comprehensive analysis of the chillers market, including:

  • Market overview and dynamics
  • Market segmentation and forecasts
  • Key industry trends and drivers
  • Porter's Five Forces analysis
  • Competitive landscape and market share analysis
  • Profiles of leading market players
  • Future outlook and growth opportunities

Regional Insight

The Asia-Pacific region is poised for significant growth in the chillers market, driven by rapid industrialization, urbanization, and a burgeoning demand for cooling solutions across diverse sectors. The region's increasing adoption of energy-efficient technologies and supportive government policies further contribute to this robust expansion. Furthermore, developing economies within the region are experiencing a surge in construction and infrastructure development, creating a substantial demand for reliable and efficient cooling systems.

Chillers Market Market Share by Region - Global Geographic Distribution

Chillers Market Regional Market Share

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Geographic Coverage of Chillers Market

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Lower Coverage
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Chillers Market REPORT HIGHLIGHTS

AspectsDetails
Study Period 2020-2034
Base Year 2025
Estimated Year 2026
Forecast Period2026-2034
Historical Period2020-2025
Growth RateCAGR of 4.9% from 2020-2034
Segmentation
    • By Type
      • Screw Chillers
      • Scroll Chillers
      • Centrifugal Chillers
      • Others
    • By Application
      • Chemicals
      • Petrochemicals
      • Food
      • Beverages
      • Plastics
      • Rubber
      • Medical
      • Others
  • By Geography
    • By Geography
      • North America
      • Europe
      • Asia Pacific
      • Middle East & Africa
      • Latin America

Table of Contents

  1. 1. Introduction
    • 1.1. Research Scope
    • 1.2. Market Segmentation
    • 1.3. Research Methodology
    • 1.4. Definitions and Assumptions
  2. 2. Executive Summary
    • 2.1. Introduction
  3. 3. Market Dynamics
    • 3.1. Introduction
      • 3.2. Market Drivers
        • 3.2.1. Rising Demand from the Automotive and Construction Sectors to Aid Market Growth
      • 3.3. Market Restrains
        • 3.3.1. The Change in International Policies is Expected to Impact the Market Growth
      • 3.4. Market Trends
        • 3.4.1 The increasing availability of connected logistics solutions equipped with a high level of interoperability
        • 3.4.2 security and accessibility features
        • 3.4.3 is fuelling the demand for these solutions. Additionally
        • 3.4.4 the need to lower down the cost associated with warehousing services and shipment are driving the growth of the market. The expanded market for intelligent transportation solutions is anticipated to accelerate the growth of the market.
  4. 4. Market Factor Analysis
    • 4.1. Porters Five Forces
    • 4.2. Supply/Value Chain
    • 4.3. PESTEL analysis
    • 4.4. Market Entropy
    • 4.5. Patent/Trademark Analysis
  5. 5. Global Chillers Market Analysis, Insights and Forecast, 2020-2032
    • 5.1. Market Analysis, Insights and Forecast - by Type
      • 5.1.1. Screw Chillers
      • 5.1.2. Scroll Chillers
      • 5.1.3. Centrifugal Chillers
      • 5.1.4. Others
    • 5.2. Market Analysis, Insights and Forecast - by Application
      • 5.2.1. Chemicals
      • 5.2.2. Petrochemicals
      • 5.2.3. Food
      • 5.2.4. Beverages
      • 5.2.5. Plastics
      • 5.2.6. Rubber
      • 5.2.7. Medical
      • 5.2.8. Others
    • 5.3. Market Analysis, Insights and Forecast - by Region
      • 5.3.1. By Geography
  6. 6. Competitive Analysis
    • 6.1. Global Market Share Analysis 2025
      • 6.2. Company Profiles
        • 6.2.1 Daikin
          • 6.2.1.1. Overview
          • 6.2.1.2. Products
          • 6.2.1.3. SWOT Analysis
          • 6.2.1.4. Recent Developments
          • 6.2.1.5. Financials (Based on Availability)
        • 6.2.2 Johnson Controls
          • 6.2.2.1. Overview
          • 6.2.2.2. Products
          • 6.2.2.3. SWOT Analysis
          • 6.2.2.4. Recent Developments
          • 6.2.2.5. Financials (Based on Availability)
        • 6.2.3 Johnson Controls-Hitachi Air Conditioning
          • 6.2.3.1. Overview
          • 6.2.3.2. Products
          • 6.2.3.3. SWOT Analysis
          • 6.2.3.4. Recent Developments
          • 6.2.3.5. Financials (Based on Availability)
        • 6.2.4 Mitsubishi Heavy Industries Ltd.
          • 6.2.4.1. Overview
          • 6.2.4.2. Products
          • 6.2.4.3. SWOT Analysis
          • 6.2.4.4. Recent Developments
          • 6.2.4.5. Financials (Based on Availability)
        • 6.2.5 Polaris Industries Australasia
          • 6.2.5.1. Overview
          • 6.2.5.2. Products
          • 6.2.5.3. SWOT Analysis
          • 6.2.5.4. Recent Developments
          • 6.2.5.5. Financials (Based on Availability)
        • 6.2.6 LG Electronics
          • 6.2.6.1. Overview
          • 6.2.6.2. Products
          • 6.2.6.3. SWOT Analysis
          • 6.2.6.4. Recent Developments
          • 6.2.6.5. Financials (Based on Availability)
        • 6.2.7 Midea
          • 6.2.7.1. Overview
          • 6.2.7.2. Products
          • 6.2.7.3. SWOT Analysis
          • 6.2.7.4. Recent Developments
          • 6.2.7.5. Financials (Based on Availability)
        • 6.2.8 Dunham-Bush Americas
          • 6.2.8.1. Overview
          • 6.2.8.2. Products
          • 6.2.8.3. SWOT Analysis
          • 6.2.8.4. Recent Developments
          • 6.2.8.5. Financials (Based on Availability)
        • 6.2.9 Chongqing General Industry Co. Ltd.
          • 6.2.9.1. Overview
          • 6.2.9.2. Products
          • 6.2.9.3. SWOT Analysis
          • 6.2.9.4. Recent Developments
          • 6.2.9.5. Financials (Based on Availability)
        • 6.2.10 Carrier Corporation
          • 6.2.10.1. Overview
          • 6.2.10.2. Products
          • 6.2.10.3. SWOT Analysis
          • 6.2.10.4. Recent Developments
          • 6.2.10.5. Financials (Based on Availability)

List of Figures

  1. Figure 1: Global Chillers Market Revenue Breakdown (billion, %) by Region 2025 & 2033
  2. Figure 2: Global Chillers Market Volume Breakdown (Million Units, %) by Region 2025 & 2033
  3. Figure 3: By Geography Chillers Market Revenue (billion), by Type 2025 & 2033
  4. Figure 4: By Geography Chillers Market Volume (Million Units), by Type 2025 & 2033
  5. Figure 5: By Geography Chillers Market Revenue Share (%), by Type 2025 & 2033
  6. Figure 6: By Geography Chillers Market Volume Share (%), by Type 2025 & 2033
  7. Figure 7: By Geography Chillers Market Revenue (billion), by Application 2025 & 2033
  8. Figure 8: By Geography Chillers Market Volume (Million Units), by Application 2025 & 2033
  9. Figure 9: By Geography Chillers Market Revenue Share (%), by Application 2025 & 2033
  10. Figure 10: By Geography Chillers Market Volume Share (%), by Application 2025 & 2033
  11. Figure 11: By Geography Chillers Market Revenue (billion), by Country 2025 & 2033
  12. Figure 12: By Geography Chillers Market Volume (Million Units), by Country 2025 & 2033
  13. Figure 13: By Geography Chillers Market Revenue Share (%), by Country 2025 & 2033
  14. Figure 14: By Geography Chillers Market Volume Share (%), by Country 2025 & 2033

List of Tables

  1. Table 1: Global Chillers Market Revenue billion Forecast, by Type 2020 & 2033
  2. Table 2: Global Chillers Market Volume Million Units Forecast, by Type 2020 & 2033
  3. Table 3: Global Chillers Market Revenue billion Forecast, by Application 2020 & 2033
  4. Table 4: Global Chillers Market Volume Million Units Forecast, by Application 2020 & 2033
  5. Table 5: Global Chillers Market Revenue billion Forecast, by Region 2020 & 2033
  6. Table 6: Global Chillers Market Volume Million Units Forecast, by Region 2020 & 2033
  7. Table 7: Global Chillers Market Revenue billion Forecast, by Type 2020 & 2033
  8. Table 8: Global Chillers Market Volume Million Units Forecast, by Type 2020 & 2033
  9. Table 9: Global Chillers Market Revenue billion Forecast, by Application 2020 & 2033
  10. Table 10: Global Chillers Market Volume Million Units Forecast, by Application 2020 & 2033
  11. Table 11: Global Chillers Market Revenue billion Forecast, by Country 2020 & 2033
  12. Table 12: Global Chillers Market Volume Million Units Forecast, by Country 2020 & 2033
  13. Table 13: North America Chillers Market Revenue (billion) Forecast, by Application 2020 & 2033
  14. Table 14: North America Chillers Market Volume (Million Units) Forecast, by Application 2020 & 2033
  15. Table 15: Europe Chillers Market Revenue (billion) Forecast, by Application 2020 & 2033
  16. Table 16: Europe Chillers Market Volume (Million Units) Forecast, by Application 2020 & 2033
  17. Table 17: Asia Pacific Chillers Market Revenue (billion) Forecast, by Application 2020 & 2033
  18. Table 18: Asia Pacific Chillers Market Volume (Million Units) Forecast, by Application 2020 & 2033
  19. Table 19: Middle East & Africa Chillers Market Revenue (billion) Forecast, by Application 2020 & 2033
  20. Table 20: Middle East & Africa Chillers Market Volume (Million Units) Forecast, by Application 2020 & 2033
  21. Table 21: Latin America Chillers Market Revenue (billion) Forecast, by Application 2020 & 2033
  22. Table 22: Latin America Chillers Market Volume (Million Units) Forecast, by Application 2020 & 2033

Methodology

Step 1 - Identification of Relevant Samples Size from Population Database

Step Chart
Bar Chart
Method Chart

Step 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)

Approach Chart
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segments, product, and application.

Note*: In applicable scenarios

Step 3 - Data Sources

Primary Research

  • Web Analytics
  • Survey Reports
  • Research Institute
  • Latest Research Reports
  • Opinion Leaders

Secondary Research

  • Annual Reports
  • White Paper
  • Latest Press Release
  • Industry Association
  • Paid Database
  • Investor Presentations
Analyst Chart

Step 4 - Data Triangulation

Involves using different sources of information in order to increase the validity of a study

These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.

Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.

During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence

Additionally, after gathering mixed and scattered data from a wide range of sources, data is triangulated and correlated to come up with estimated figures which are further validated through primary mediums or industry experts, opinion leaders.

Frequently Asked Questions

1. What is the projected Compound Annual Growth Rate (CAGR) of the Chillers Market?

The projected CAGR is approximately 4.9%.

2. Which companies are prominent players in the Chillers Market?

Key companies in the market include Daikin, Johnson Controls, Johnson Controls-Hitachi Air Conditioning, Mitsubishi Heavy Industries, Ltd., Polaris Industries Australasia, LG Electronics, Midea, Dunham-Bush Americas, Chongqing General Industry Co., Ltd., Carrier Corporation.

3. What are the main segments of the Chillers Market?

The market segments include Type, Application.

4. Can you provide details about the market size?

The market size is estimated to be USD 10.76 billion as of 2022.

5. What are some drivers contributing to market growth?

Rising Demand from the Automotive and Construction Sectors to Aid Market Growth.

6. What are the notable trends driving market growth?

The increasing availability of connected logistics solutions equipped with a high level of interoperability. security and accessibility features. is fuelling the demand for these solutions. Additionally. the need to lower down the cost associated with warehousing services and shipment are driving the growth of the market. The expanded market for intelligent transportation solutions is anticipated to accelerate the growth of the market..

7. Are there any restraints impacting market growth?

The Change in International Policies is Expected to Impact the Market Growth.

8. Can you provide examples of recent developments in the market?

N/A

9. What pricing options are available for accessing the report?

Pricing options include single-user, multi-user, and enterprise licenses priced at USD 4850, USD 5850, and USD 6850 respectively.

10. Is the market size provided in terms of value or volume?

The market size is provided in terms of value, measured in billion and volume, measured in Million Units.

11. Are there any specific market keywords associated with the report?

Yes, the market keyword associated with the report is "Chillers Market," which aids in identifying and referencing the specific market segment covered.

12. How do I determine which pricing option suits my needs best?

The pricing options vary based on user requirements and access needs. Individual users may opt for single-user licenses, while businesses requiring broader access may choose multi-user or enterprise licenses for cost-effective access to the report.

13. Are there any additional resources or data provided in the Chillers Market report?

While the report offers comprehensive insights, it's advisable to review the specific contents or supplementary materials provided to ascertain if additional resources or data are available.

14. How can I stay updated on further developments or reports in the Chillers Market?

To stay informed about further developments, trends, and reports in the Chillers Market, consider subscribing to industry newsletters, following relevant companies and organizations, or regularly checking reputable industry news sources and publications.