Chillers Market Size and Forecasts, Global and Regional Share, Trends, and Growth Opportunity Analysis Report Coverage: By Chiller Technology, Technology, and Application

List of Tables

The chiller market was valued at US$ 9,972.06 million in 2022 and is projected to reach US$ 14,870.70 million by 2030; it is expected to register a CAGR of 5.1% during 2022-2030.

The improving economic conditions across the globe coupled with urbanization has led to the growth in the industrial sector. There has been a rise in the construction of medical centers, malls, complexes, hotels, commercial buildings and manufacturing facilities, which propels the growth of chiller market. Urbanization has changed the lifestyle of the people and increased the inclination towards safety and security. Technological developments along with the modifications in government and organizational regulations for temperature control contributes towards the growth of the chiller market. In 2018, healthcare spending as a share of GDP in Japan was around 11 %. Healthcare spending as a share of GDP of Japan grew from 7.7 % in 2004 to 11 % in 2018 at an average annual rate of 2.69%. Thus, the demand for chillers required in medical sector is anticipated to grow further. Urbanization and growing population in European countries are driving factors for growth of chiller market in this region. As per the United Nations reports, urbanization in Europe is supposed to rise by ~83.7% by 2050. According to EEA, 75% of population in EU prefers to stay in urban areas. Surging disposable income, temperature concerns, and spending on comfort and luxury are a few factors that drive the chiller market growth.

Rising disposable income, increasing technological advancements, rise in real estate construction for residential purpose, and growing commercial space across the country are the factors driving the chiller market share. The growth of the construction industry plays a significant role in boosting the Chinese chiller market share. New constructions in the residential, commercial, and industrial sectors have increased the demand for HVAC systems, cumulating into demand for HVAC chiller. Innovations in building design and the increased focus on energy efficiency in buildings have created an opportunity for HVAC chiller manufacturers to expand their foothold in the market. Moreover, ongoing initiatives such as green building construction by several emerging and developed countries is providing huge growth opportunities for the market. Furthermore, People's Republic of China had the fastest growth in space cooling energy consumption worldwide in the last two decades, driven by increasing income and growing demand for thermal comfort due to which the total number of installed residential cooling units (including dehumidifier, fans, and HVAC chillers) are expected to reach over 1.1 billion in 2030 are supporting the chiller market growth.

In industrial sector, industrial water chillers are utilized in a broad range of applications where chilled liquid or water are circulated through a process equipment. Generally, these chillers are utilized for cooling machinery and products. Water chillers are used in different applications with respect to tool and die cutting, injection molding, food and beverage, lasers, chemicals, semi-conductors, machine tool and more. With heat being the most common byproduct, no industrial machine, motor or process is 100% efficient. Removal of the heat is very important in industrial processes otherwise, it can accumulate over time and lead to reduced production times, premature equipment failure and equipment shutdowns. It is very necessary to incorporate cooling in respective industrial process system design for avoiding the mentioned issues. Reynold India Private Limited offers various industrial chillers which include versatile Scroll Chillers, advanced Screw Chillers, as well as customized industrial chillers.

Danfoss; Carrier Global Corporation; DAIKIN Industries, LTD; Johnson Controls; Kaltra; LG Electronics; Mitsubishi Electric Corporation; SKM Air Conditioning; Trane Technologies Inc; and Thermal Care, Inc. are among the key chiller market players.

The overall chiller market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast of the chiller market size with respect to all market segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights. Participants of this process include VPs, business development managers, market intelligence managers, national sales managers, and external consultants-such as valuation experts, research analysts, and key opinion leaders-specializing in the chiller market.

Reasons to Buy:

Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the chiller market.
Highlights key business priorities in order to assist companies to realign their business strategies
The key findings and recommendations highlight crucial progressive industry trends in the chiller market, thereby allowing players across the value chain to develop effective long-term strategies
Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution

Product Code: TIPRE00005476

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Coverage
3.2 Secondary Research
3.3 Primary Research

4. Chillers market Landscape

4.1 Overview
4.2 PEST Analysis
- 4.2.1 North America
- 4.2.2 Europe
- 4.2.3 APAC
- 4.2.4 MEA
- 4.2.5 SAM
4.3 Ecosystem Analysis

5. Chillers market - Key Industry Dynamics

5.1 Chillers market - Key Industry Dynamics
5.2 Market Drivers
- 5.2.1 Rising Demand from Various Industries
- 5.2.2 Increasing Number of Data Centres to Boost Market Growth
5.3 Market Restraints
- 5.3.1 Less Efficiency in Humid Environment and High Maintenance Cost
5.4 Market Opportunities
- 5.4.1 Economic Growth in Developing Countries Across the World
5.5 Future Trends
- 5.5.1 Development of IoT enabled HVAC Chillers
5.6 Impact of Drivers and Restraints:

6. Chillers market - Global Market Analysis

6.1 Chillers market Revenue (US$ Million), 2022 - 2030
6.2 Chillers market Forecast and Analysis

7. Chillers market Analysis - Technology

7.1 Overview
- 7.1.1 Chillers market, By Technology (2022 and 2030)
7.2 Air-Cooled
- 7.2.1 Overview
- 7.2.2 Air-Cooled Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Water-Cooled
- 7.3.1 Overview
- 7.3.2 Water-Cooled Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Steam-Fired
- 7.4.1 Overview
- 7.4.2 Steam-Fired Market Revenue and Forecast to 2030 (US$ Million)

8. Chillers market Analysis - Type

8.1 Overview
- 8.1.1 Chillers market, By Type (2022 and 2030)
8.2 Process Chillers
- 8.2.1 Overview
- 8.2.2 Process Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Scroll Chillers
- 8.3.1 Overview
- 8.3.2 Scroll Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Screw Chillers
- 8.4.1 Overview
- 8.4.2 Screw Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Centrifugal Chillers
- 8.5.1 Overview
- 8.5.2 Centrifugal Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.6 Absorption Chillers
- 8.6.1 Overview
- 8.6.2 Absorption Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.7 Modular Chillers
- 8.7.1 Overview
- 8.7.2 Modular Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.8 Reverse Cycle Chillers
- 8.8.1 Overview
- 8.8.2 Reverse Cycle Chillers Market Revenue, and Forecast to 2030 (US$ Million)

9. Chillers Market Analysis - Application

9.1 Overview
- 9.1.1 Chillers market, By Application (2022 and 2030)
9.2 Commercial
- 9.2.1 Overview
- 9.2.2 Commercial Market Revenue, and Forecast to 2030 (US$ Million)
9.3 Industrial
- 9.3.1 Overview
- 9.3.2 Industrial Market Revenue, and Forecast to 2030 (US$ Million)
9.4 Residential
- 9.4.1 Overview
- 9.4.2 Residential Market Revenue, and Forecast to 2030 (US$ Million)

10. Chillers market - Geographical Analysis

10.1 Overview
10.2 North America
- 10.2.1 Overview
- 10.2.2 North America Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.2.3 North America Chillers Market Breakdown by Technology
- 10.2.4 North America Chillers Market Breakdown by Type
- 10.2.5 North America: Chillers Market, by Application
- 10.2.6 North America Chillers Market Revenue and Forecasts and Analysis - By Country
  - 10.2.6.1 North America Chillers Market Revenue and Forecasts and Analysis - By Country
  - 10.2.6.2 US Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.2.6.2.1 United States Chillers Market Breakdown by Technology
    - 10.2.6.2.2 United States Chillers Market Breakdown by Type
    - 10.2.6.2.3 United States Chillers Market Breakdown by Application
  - 10.2.6.3 Canada Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.2.6.3.1 Canada Chillers Market Breakdown by Technology
    - 10.2.6.3.2 Canada Chillers Market Breakdown by Type
    - 10.2.6.3.3 Canada Chillers Market Breakdown by Application
  - 10.2.6.4 Mexico Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.2.6.4.1 Mexico Chillers Market Breakdown by Technology
    - 10.2.6.4.2 Mexico Chillers Market Breakdown by Type
    - 10.2.6.4.3 Mexico Chillers Market Breakdown by Application
10.3 Europe
- 10.3.1 Overview
- 10.3.2 Europe Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.3.3 Europe Chillers Market Breakdown by Technology
- 10.3.4 Europe: Chillers Market, by Type
- 10.3.5 Europe: Chillers Market, by Application
- 10.3.6 Europe Chillers Market Revenue and Forecasts and Analysis - By Country
  - 10.3.6.1 Europe Chillers Market Revenue and Forecasts and Analysis - By Country
  - 10.3.6.2 Germany Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.3.6.2.1 Germany Chillers Market Breakdown by Technology
    - 10.3.6.2.2 Germany Chillers Market Breakdown by Type
    - 10.3.6.2.3 Germany Chillers Market Breakdown by Application
  - 10.3.6.3 France Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.3.6.3.1 France Chillers Market Breakdown by Technology
    - 10.3.6.3.2 France Chillers Market Breakdown by Type
    - 10.3.6.3.3 France Chillers Market Breakdown by Application
  - 10.3.6.4 Italy Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.3.6.4.1 Italy Chillers Market Breakdown by Technology
    - 10.3.6.4.2 Italy Chillers Market Breakdown by Type
    - 10.3.6.4.3 Italy Chillers Market Breakdown by Application
  - 10.3.6.5 UK Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.3.6.5.1 UK Chillers Market Breakdown by Technology
    - 10.3.6.5.2 UK Chillers Market Breakdown by Type
    - 10.3.6.5.3 UK Chillers Market Breakdown by Application
  - 10.3.6.6 Russia Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.3.6.6.1 Russia Chillers Market Breakdown by Technology
    - 10.3.6.6.2 . Russia Chillers Market Breakdown by Type
    - 10.3.6.6.3 Russia Chillers Market Breakdown by Application
  - 10.3.6.7 Rest of Europe Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.3.6.7.1 Rest of Europe Chillers Market Breakdown by Technology
    - 10.3.6.7.2 Rest of Europe Chillers Market Breakdown by Type
    - 10.3.6.7.3 Rest of Europe Chillers Market Breakdown by Application
10.4 Asia Pacific
- 10.4.1 Overview
- 10.4.2 Asia Pacific Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.4.3 Asia Pacific Chillers Market Breakdown by Technology
- 10.4.4 Asia Pacific: Chillers Market, by Type
- 10.4.5 Asia Pacific: Chillers Market, by Application
- 10.4.6 Asia Pacific Chillers Market Revenue and Forecasts and Analysis - By Country
  - 10.4.6.1 Asia Pacific Chillers Market Revenue and Forecasts and Analysis - By Country
  - 10.4.6.2 China Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.4.6.2.1 China Chillers Market Breakdown by Technology
    - 10.4.6.2.2 China Chillers Market Breakdown by Type
    - 10.4.6.2.3 China Chillers Market Breakdown by Application
  - 10.4.6.3 Japan Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.4.6.3.1 Japan Chillers Market Breakdown by Technology
    - 10.4.6.3.2 Japan Chillers Market Breakdown by Type
    - 10.4.6.3.3 Japan Chillers Market Breakdown by Application
  - 10.4.6.4 India Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.4.6.4.1 India Chillers Market Breakdown by Technology
    - 10.4.6.4.2 India Chillers Market Breakdown by Type
    - 10.4.6.4.3 India Chillers Market Breakdown by Application
  - 10.4.6.5 South Korea Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.4.6.5.1 SOUTH KOREA Chillers Market Breakdown by Technology
    - 10.4.6.5.2 SOUTH KOREA Chillers Market Breakdown by Type
    - 10.4.6.5.3 SOUTH KOREA Chillers Market Breakdown by Application
  - 10.4.6.6 Australia Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.4.6.6.1 Australia Chillers Market Breakdown by Technology
    - 10.4.6.6.2 . Australia Chillers Market Breakdown by Type
    - 10.4.6.6.3 Australia Chillers Market Breakdown by Application
  - 10.4.6.7 Rest of Asia Pacific Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.4.6.7.1 Rest of Asia Pacific Chillers Market Breakdown by Technology
    - 10.4.6.7.2 Rest of Asia Pacific Chillers Market Breakdown by Type
    - 10.4.6.7.3 Rest of Asia Pacific Chillers Market Breakdown by Application
10.5 Middle East & Africa
- 10.5.1 Overview
- 10.5.2 Middle East & Africa Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.5.3 Middle East & Africa Chillers Market Breakdown by Technology
- 10.5.4 Middle East & Africa: Chillers Market, by Type
- 10.5.5 Middle East & Africa: Chillers Market, by Application
- 10.5.6 Middle East & Africa Chillers Market Revenue and Forecasts and Analysis - By Country
  - 10.5.6.1 Middle East & Africa Chillers Market Revenue and Forecasts and Analysis - By Country
  - 10.5.6.2 South Africa Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.5.6.2.1 South Africa Chillers Market Breakdown by Technology
    - 10.5.6.2.2 South Africa Chillers Market Breakdown by Type
    - 10.5.6.2.3 South Africa Chillers Market Breakdown by Application
  - 10.5.6.3 Saudi Arabia Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.5.6.3.1 Saudi Arabia Chillers Market Breakdown by Technology
    - 10.5.6.3.2 Saudi Arabia Chillers Market Breakdown by Type
    - 10.5.6.3.3 Saudi Arabia Chillers Market Breakdown by Application
  - 10.5.6.4 UAE Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.5.6.4.1 UAE Chillers Market Breakdown by Technology
    - 10.5.6.4.2 UAE Chillers Market Breakdown by Type
    - 10.5.6.4.3 UAE Chillers Market Breakdown by Application
  - 10.5.6.5 Rest of Middle East & Africa Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.5.6.5.1 Rest of Middle East & Africa Chillers Market Breakdown by Technology
    - 10.5.6.5.2 Rest of Middle East & Africa Chillers Market Breakdown by Type
    - 10.5.6.5.3 Rest of Middle East & Africa Chillers Market Breakdown by Application
10.6 South America
- 10.6.1 Overview
- 10.6.2 South America Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
- 10.6.3 South America Chillers Market Breakdown by Technology
- 10.6.4 South America: Chillers Market, by Type
- 10.6.5 South America: Chillers Market, by Application
- 10.6.6 South America Chillers Market Revenue and Forecasts and Analysis - By Country
  - 10.6.6.1 South America Chillers Market Revenue and Forecasts and Analysis - By Country
  - 10.6.6.2 Brazil Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.6.6.2.1 Brazil Chillers Market Breakdown by Technology
    - 10.6.6.2.2 Brazil Chillers Market Breakdown by Type
    - 10.6.6.2.3 Brazil Chillers Market Breakdown by Application
  - 10.6.6.3 Argentina Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.6.6.3.1 Argentina Chillers Market Breakdown by Technology
    - 10.6.6.3.2 Argentina Chillers Market Breakdown by Type
    - 10.6.6.3.3 Argentina Chillers Market Breakdown by Application
  - 10.6.6.4 Rest of South America Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
    - 10.6.6.4.1 Rest of South America Chillers Market Breakdown by Technology
    - 10.6.6.4.2 Rest of South America Chillers Market Breakdown by Type
    - 10.6.6.4.3 Rest of South America Chillers Market Breakdown by Application

11. Chillers market - Impact of COVID-19 Pandemic

11.1 North America: Impact Assessment of COVID-19 Pandemic
11.2 Europe: Impact Assessment of COVID-19 Pandemic
11.3 Asia Pacific: Impact Assessment of COVID-19 Pandemic
11.4 MEA: Impact Assessment of COVID-19 Pandemic
11.5 SAM: Impact Assessment of COVID-19 Pandemic

12. Competitive Landscape

12.1 Company Positioning & Concentration

13. Industry Landscape

13.1 Overview
13.2 Market Initiative
13.3 New Product Development

14. Company Profiles

14.1 LG Electronics Inc
- 14.1.1 Key Facts
- 14.1.2 Business Description
- 14.1.3 Products and Services
- 14.1.4 Financial Overview
- 14.1.5 SWOT Analysis
- 14.1.6 Key Developments
14.2 Mitsubishi Electric Corp
- 14.2.1 Key Facts
- 14.2.2 Business Description
- 14.2.3 Products and Services
- 14.2.4 Financial Overview
- 14.2.5 SWOT Analysis
- 14.2.6 Key Developments
14.3 Carrier Global Corp
- 14.3.1 Key Facts
- 14.3.2 Business Description
- 14.3.3 Products and Services
- 14.3.4 Financial Overview
- 14.3.5 SWOT Analysis
- 14.3.6 Key Developments
14.4 Daikin Industries Ltd
- 14.4.1 Key Facts
- 14.4.2 Business Description
- 14.4.3 Products and Services
- 14.4.4 Financial Overview
- 14.4.5 SWOT Analysis
- 14.4.6 Key Developments
14.5 Thermal Care, Inc.
- 14.5.1 Key Facts
- 14.5.2 Business Description
- 14.5.3 Products and Services
- 14.5.4 Financial Overview
- 14.5.5 SWOT Analysis
- 14.5.6 Key Developments
14.6 Trane Inc.
- 14.6.1 Key Facts
- 14.6.2 Business Description
- 14.6.3 Products and Services
- 14.6.4 Financial Overview
- 14.6.5 SWOT Analysis
- 14.6.6 Key Developments
14.7 Kaltra
- 14.7.1 Key Facts
- 14.7.2 Business Description
- 14.7.3 Products and Services
- 14.7.4 Financial Overview
- 14.7.5 SWOT Analysis
- 14.7.6 Key Developments
14.8 SKM Air Conditioning
- 14.8.1 Key Facts
- 14.8.2 Business Description
- 14.8.3 Products and Services
- 14.8.4 Financial Overview
- 14.8.5 SWOT Analysis
- 14.8.6 Key Developments
14.9 Airedale International Air Conditioning Ltd
- 14.9.1 Key Facts
- 14.9.2 Business Description
- 14.9.3 Products and Services
- 14.9.4 Financial Overview
- 14.9.5 SWOT Analysis
- 14.9.6 Key Developments
14.10 ClimaCool Corp
- 14.10.1 Key Facts
- 14.10.2 Business Description
- 14.10.3 Products and Services
- 14.10.4 Financial Overview
- 14.10.5 SWOT Analysis
- 14.10.6 Key Developments
14.11 Multistack LLC
- 14.11.1 Key Facts
- 14.11.2 Business Description
- 14.11.3 Products and Services
- 14.11.4 Financial Overview
- 14.11.5 SWOT Analysis
- 14.11.6 Key Developments
14.12 WaterFurnace International Inc
- 14.12.1 Key Facts
- 14.12.2 Business Description
- 14.12.3 Products and Services
- 14.12.4 Financial Overview
- 14.12.5 SWOT Analysis
- 14.12.6 Key Developments

15. Appendix

15.1 About The Insight Partners