Chillers Global Market Report 2026

Chillers are essential systems used for controlled cooling in various industries. They are refrigeration systems designed to lower the temperatures of process fluids, machinery, and other applications by extracting heat and transferring it to other spaces. Chillers play a crucial role in regulating and maintaining temperatures in different industrial settings.

The primary types of chillers include air-cooled chillers and water-cooled chillers. Air-cooled chillers are commonly utilized in commercial and industrial facilities. They function by absorbing heat from process water and transferring it to cool fluids, also contributing to the dehumidification of air. Chillers are categorized based on their power range, which includes less than 50 kW, 50-200 kW, and more than 200 kW. Additionally, chillers vary by compressor type, with options such as screw chillers, centrifugal chillers, absorption chillers, and reciprocating chillers. These chillers find applications in commercial, industrial, and residential spaces.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are affecting the chiller market by increasing costs for imported compressors, components, and control systems used in air-cooled and water-cooled chillers. Commercial and industrial end users in North America, Europe, and Asia-Pacific are most impacted due to dependence on imported equipment. Nonetheless, tariffs are driving local manufacturing, regional sourcing of compressors, and innovation in energy-efficient and smart chiller solutions, strengthening market resilience and technological adoption.

The Chillers Global market research report is one of a series of new reports from The Business Research Company that provides Chillers Global market statistics, including Chillers Global industry global market size, regional shares, competitors with a Chillers Global market share, detailed Chillers Global market segments, market trends and opportunities, and any further data you may need to thrive in the Chillers Global industry. This Chillers Global market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The chillers market size has grown steadily in recent years. It will grow from $10.94 billion in 2025 to $11.35 billion in 2026 at a compound annual growth rate (CAGR) of 3.7%. The growth in the historic period can be attributed to rise in use of air-cooled and water-cooled chillers, increasing deployment in commercial applications, expansion in industrial process cooling, adoption in residential buildings, integration in screw and centrifugal compressors.

The chillers market size is expected to see steady growth in the next few years. It will grow to $13.3 billion in 2030 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to increase in energy-efficient and sustainable cooling solutions, rising adoption of digitally monitored chillers, growth in advanced absorption and reciprocating systems, expansion in high-capacity and modular chillers, increase in smart temperature management solutions. Major trends in the forecast period include implementation of AI-optimized chiller systems, integration of IoT-connected monitoring, deployment of energy-efficient refrigeration solutions, adoption of digital twin chillers, expansion of smart cooling management systems.

The expanding food and beverage industry is expected to drive the growth of the chillers market in the coming years. This industry includes businesses involved in the production, distribution, and sale of food and beverages, spanning sectors from agriculture and manufacturing to restaurants and cafes. Chillers play a vital role in the food and beverage sector by maintaining precise temperatures during food processing, storage, and transportation, ensuring product safety and quality. For instance, in 2024, according to the European Snacks Association (ESA), a Belgium-based non-profit organization, the retail value of the savoury snacks market in Europe in 2023 was approximately €40 billion ($44 billion), representing nearly 3.5% of the European food and beverages market. Consequently, the growth of the food and beverage industry is propelling the expansion of the food chillers market.

Prominent players in the chillers market are strategically investing in the development of cutting-edge technologies, specifically focusing on innovative gas and electric hybrid chillers to secure a competitive advantage. Gas and electric hybrid chillers integrate natural gas and electricity for cooling purposes, presenting a dual-energy solution that enhances energy efficiency and offers flexibility in managing cooling loads. A noteworthy example is Tecogen Inc., a US-based manufacturer of combined heat and power products, which introduced the Tecochill Hybrid-Drive air-cooled chiller in January 2023. This hybrid chiller seamlessly integrates cost-effective natural gas and grid electricity, utilizing hybrid drive technology to achieve efficient output adjustments similar to traditional variable frequency drive (VFD) chillers while significantly reducing operational costs.

In October 2024, Schneider Electric, a global leader in energy management and automation, acquired Motivair Corporation for an undisclosed amount. Through this acquisition, Schneider Electric aims to reinforce its leading position across the data center value chain by integrating Motivair's specialized liquid cooling and advanced thermal management solutions for high-performance computing systems. Motivair Corporation is a US-based provider of advanced liquid and data center cooling solutions, including chillers.

Major companies operating in the chillers market are Carrier Corporation, Daikin Industries Ltd., Trane Technologies plc, Hitachi Air Conditioning Company Ltd., Johnson Controls International plc, Thermax Limited, Smardt Chiller Group Inc., Mitsubishi Electric Corporation, Midea Group Co. Ltd., LG Electronics Inc., Reynold India Pvt. Ltd., Dimplex Thermal Solutions, Dunham-Bush Ltd., Frigel Firenze SpA, Friulair S.R.L., HYDAC International GmbH, Thermal Care Inc., SKM Air Conditioning, Meccanotecnica Applicata S.r.l., KKT Chillers, Delta T Systems Inc., Chase Cooling Systems, TopChiller, Frost Italy S.r.l., Cold Shot Chillers, York International Corporation, Multistack LLC, Airedale International Air Conditioning Ltd., Blue Star Limited, Climaveneta S.p.A., Lennox International Inc.

Asia-Pacific was the largest region in the Chillers market in 2025. The regions covered in the chillers market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the chillers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The chillers market consists of sales of condenser, compressor, evaporator, expansion valves. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Chillers Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses chillers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for chillers ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The chillers market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Product Type: Air Cooled Chiller; Water Cooled Chiller
• 2) By Power Range: Less than 50 kW; 50-200 kW; More than 200 kW
• 3) By Compressor Type: Screw Chillers; Centrifugal Chillers; Absorption Chillers; Reciprocating Chillers
• 4) By End User: Commercial; Industrial; Residential
• Subsegments:
• 1) By Air Cooled Chiller: Scroll Air Cooled Chillers; Screw Air Cooled Chillers; Reciprocating Air Cooled Chillers
• 2) By Water Cooled Chiller: Centrifugal Water Cooled Chillers; Screw Water Cooled Chillers; Reciprocating Water Cooled Chillers
• Companies Mentioned: Carrier Corporation; Daikin Industries Ltd.; Trane Technologies plc; Hitachi Air Conditioning Company Ltd.; Johnson Controls International plc; Thermax Limited; Smardt Chiller Group Inc.; Mitsubishi Electric Corporation; Midea Group Co. Ltd.; LG Electronics Inc.; Reynold India Pvt. Ltd.; Dimplex Thermal Solutions; Dunham-Bush Ltd.; Frigel Firenze SpA; Friulair S.R.L.; HYDAC International GmbH; Thermal Care Inc.; SKM Air Conditioning; Meccanotecnica Applicata S.r.l.; KKT Chillers; Delta T Systems Inc.; Chase Cooling Systems; TopChiller; Frost Italy S.r.l.; Cold Shot Chillers; York International Corporation; Multistack LLC; Airedale International Air Conditioning Ltd.; Blue Star Limited; Climaveneta S.p.A.; Lennox International Inc.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain.
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
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