PUBLISHER: QYResearch | PRODUCT CODE: 1874309
PUBLISHER: QYResearch | PRODUCT CODE: 1874309
The global market for Chillers was estimated to be worth US$ 8426 million in 2024 and is forecast to a readjusted size of US$ 11115 million by 2031 with a CAGR of 4.2% during the forecast period 2025-2031.
A chiller is a machine that removes heat from a liquid coolant via a vapor-compression, adsorption refrigeration, or absorption refrigeration cycles. This liquid can then be circulated through a heat exchanger to cool equipment, or another process stream (such as air or process water).
They are used in a variety of applications to cool and dehumidify air or to cool process equipment, such as lasers, medical imaging machines, data centers, and manufacturing equipment.
The global chillers market is experiencing steady growth, driven by increasing demand for climate control systems across commercial, industrial, and residential sectors. Chillers are essential for HVAC systems, process cooling in manufacturing, and data center temperature regulation. The market is significantly influenced by expanding construction activities, especially in Asia-Pacific, where rapid urbanization and infrastructure development in countries like China and India are boosting adoption.
Technological advancements are reshaping the industry, with a strong shift toward energy-efficient and low-GWP refrigerant chillers. Manufacturers are focusing on innovations such as magnetic bearing compressors, smart controls, and variable speed technologies to enhance performance while meeting environmental regulations. The integration of IoT-based monitoring systems is becoming more common, offering predictive maintenance and operational optimization.
In terms of segmentation, air-cooled chillers dominate the market due to their lower installation cost and space efficiency, especially in commercial buildings. However, water-cooled chillers maintain a strong foothold in large industrial and high-capacity applications. Data centers, food & beverage processing, pharmaceuticals, and chemicals are among the fastest-growing end-use industries for chillers.
Looking forward, the global chillers market is expected to grow at a CAGR of around 4-5% over the next five years. Growth will be fueled by rising demand for cooling in hot climate zones, tightening energy efficiency regulations, and increasing investment in green building certifications like LEED. The focus will remain on sustainability, lifecycle cost reduction, and smart infrastructure integration.
This report aims to provide a comprehensive presentation of the global market for Chillers, focusing on the total sales revenue, key companies market share and ranking, together with an analysis of Chillers by region & country, by Type, and by Application.
The Chillers market size, estimations, and forecasts are provided in terms of sales revenue ($ millions), considering 2024 as the base year, with history and forecast data for the period from 2020 to 2031. With both quantitative and qualitative analysis, to help readers develop business/growth strategies, assess the market competitive situation, analyze their position in the current marketplace, and make informed business decisions regarding Chillers.
Market Segmentation
By Company
Segment by Type
Segment by Application
By Region
Chapter Outline
Chapter 1: Introduces the report scope of the report, global total market size. This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry.
Chapter 2: Detailed analysis of Chillers company competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.
Chapter 3: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.
Chapter 5: Revenue of Chillers in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world.
Chapter 6: Revenue of Chillers in country level. It provides sigmate data by Type, and by Application for each country/region.
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.