Air Cooled Chillers Market Size and Forecast 2021-2031, Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Process, Application, Type, and Region

List of Tables

The Air Cooled Chillers Market size was valued at US$ 971.42 million in 2024 and is expected to reach US$ 1614.43 million by 2031; it is estimated to record a CAGR of 7.6% from 2025 to 2031.

The air cooled chillers market is strategically positioned for substantial expansion, propelled by the rising temperatures & climate change. As average temperatures climb, the need to maintain comfortable indoor environments has become critical, especially in urban areas where the heat island effect exacerbates temperature spikes. As the demand for cooling increases, energy consumption rises, prompting industries and consumers to seek cooling technologies that are more efficient, dependable, and environmentally sustainable. Air cooled chillers, which use ambient air to dissipate heat, have emerged as a preferred solution due to their lower operational costs, ease of installation, and adaptability across various climates. Their ability to manage cooling loads in buildings ranging from small offices to large industrial complexes makes them a highly attractive, scalable solution. Regulatory pressures and increasing awareness of carbon footprints have accelerated the shift toward energy-efficient chillers, featuring improved refrigerants and optimized designs that minimize greenhouse gas emissions.

Innovation in heat exchange technologies, digital controls, and integration of smart systems enhances performance and reduces environmental impact. Additionally, the expansion of commercial infrastructure and urbanization in developing economies fuels market growth. As climate change pushes temperatures higher, the reliance on advanced air cooled chillers is expected to intensify, positioning them as a key technology in addressing modern cooling challenges while supporting global sustainability goals.

The air cooled chillers market in Asia Pacific is characterized by region's rapid urbanization, infrastructure development, and a surge in industrialization across economies. Megacities across China, India, and Southeast Asia are witnessing a construction boom in commercial real estate (office towers, hotels, retail complexes), manufacturing facilities, and public infrastructure like airports and hospitals, all of which require substantial cooling capacity. Air-cooled chillers are the default choice in these projects due to their lower initial installation costs, simpler infrastructure requirements (no need for water piping and towers), and quicker installation times, which align with the fast-paced development cycles.

In China, government policies promoting domestic manufacturing and urbanization drive demand. In Southeast Asian nations such as Indonesia, Vietnam, and Thailand, growing industrialization and foreign direct investment are key drivers. There is a high-volume segment for standard-efficiency units focused on initial cost. Multinational corporations and environmentally conscious developers represent a growing premium segment for high-efficiency, VSD-equipped chillers. The hot and humid climate in the region places a high demand on cooling systems for most of the year, emphasizing the need for reliability and serviceability, which are inherent strengths of the less complex air cooled chiller design.

Stulz SpA, Mitsubishi Heavy Industries Ltd, Daikin Industries Ltd, Johnson Controls International Plc, Panasonic Holdings Corp, HYDAC International GmbH, Blue Star Ltd, Carrier Global Corp, Trane Technologies Plc, and Thermo Fisher Scientific Inc. are among the key air cooled chillers market players that are profiled in this market study.

The overall air cooled chillers market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the air cooled chillers market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the air cooled chillers market.

Product Code: TIPRE00041042

1. Introduction

1.1 Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Analyst Market Outlook
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:
3.3 Assumptions and Limitations

4. Air Cooled Chillers Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 List of Vendors in the Value Chain

5. Air Cooled Chillers Market - Key Market Dynamics

5.1 Air Cooled Chillers Market - Key Market Dynamics
5.2 Market Drivers
- 5.2.1 Rising Temperatures and Climate Change
- 5.2.2 Urbanization and Infrastructure Growth
- 5.2.3 Strict Regulations for Energy Efficiency and Sustainability
5.3 Market Restraints
- 5.3.1 High Initial Investment Costs
- 5.3.2 Availability of Substitute Systems
- 5.3.3 Geographic Limitations
5.4 Market Opportunities
- 5.4.1 Demand for Smart and IoT-Enabled Systems
- 5.4.2 Technology Advancements
- 5.4.3 Rising Demand for Customization of Air Cooled Chillers for Specific Applications
5.5 Future Trends
- 5.5.1 Integration with Building Management Systems
- 5.5.2 Adoption of R32 Refrigerant
- 5.5.3 Focus on Sustainability and Eco-Friendly Solutions
5.6 Impact of Drivers and Restraints:

6. Air Cooled Chillers Market - Global Market Analysis

6.1 Air Cooled Chillers Market Revenue (US$ Million), 2021-2031
6.2 Air Cooled Chillers Market Forecast Analysis

7. Air Cooled Chillers Market Analysis - by Process

7.1 Continuous Flow Chillers
- 7.1.1 Overview
- 7.1.2 Continuous Flow Chillers: Air Cooled Chillers Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Immersion Chillers
- 7.2.1 Overview
- 7.2.2 Immersion Chillers: Air Cooled Chillers Market - Revenue and Forecast to 2031 (US$ Million)

8. Air Cooled Chillers Market Analysis - by Application

8.1 Industrial Manufacturing
- 8.1.1 Overview
- 8.1.2 Industrial Manufacturing: Air Cooled Chillers Market - Revenue and Forecast to 2031 (US$ Million)
8.2 Food and Beverage Processing
- 8.2.1 Overview
- 8.2.2 Food and Beverage Processing: Air Cooled Chillers Market - Revenue and Forecast to 2031 (US$ Million)
8.3 Medical Equipment
- 8.3.1 Overview
- 8.3.2 Medical Equipment: Air Cooled Chillers Market - Revenue and Forecast to 2031 (US$ Million)
8.4 Others
- 8.4.1 Overview
- 8.4.2 Others: Air Cooled Chillers Market - Revenue and Forecast to 2031 (US$ Million)

9. Air Cooled Chillers Market Analysis - by Type

9.1 Machine Tool
- 9.1.1 Overview
- 9.1.2 Machine Tool: Air Cooled Chillers Market - Revenue and Forecast to 2031 (US$ Million)
9.2 Laser Systems
- 9.2.1 Overview
- 9.2.2 Laser Systems: Air Cooled Chillers Market - Revenue and Forecast to 2031 (US$ Million)
9.3 Others
- 9.3.1 Overview
- 9.3.2 Others: Air Cooled Chillers Market - Revenue and Forecast to 2031 (US$ Million)

10. Air Cooled Chillers Market - Geographical Analysis

10.1 Overview
10.2 North America
- 10.2.1 North America Air Cooled Chillers Market Overview
- 10.2.2 North America: Air Cooled Chillers Market - Revenue, 2021-2031 (US$ Million)
- 10.2.3 North America: Air Cooled Chillers Market Breakdown, by Process
  - 10.2.3.1 North America: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Process
- 10.2.4 North America: Air Cooled Chillers Market Breakdown, by Application
  - 10.2.4.1 North America: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Application
- 10.2.5 North America: Air Cooled Chillers Market Breakdown, by Type
  - 10.2.5.1 North America: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Type
- 10.2.6 North America: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Country
  - 10.2.6.1 North America: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Country
  - 10.2.6.2 United States: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.2.6.2.1 United States: Air Cooled Chillers Market Breakdown, by Process
    - 10.2.6.2.2 United States: Air Cooled Chillers Market Breakdown, by Application
    - 10.2.6.2.3 United States: Air Cooled Chillers Market Breakdown, by Type
  - 10.2.6.3 Canada: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.2.6.3.1 Canada: Air Cooled Chillers Market Breakdown, by Process
    - 10.2.6.3.2 Canada: Air Cooled Chillers Market Breakdown, by Application
    - 10.2.6.3.3 Canada: Air Cooled Chillers Market Breakdown, by Type
  - 10.2.6.4 Mexico: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.2.6.4.1 Mexico: Air Cooled Chillers Market Breakdown, by Process
    - 10.2.6.4.2 Mexico: Air Cooled Chillers Market Breakdown, by Application
    - 10.2.6.4.3 Mexico: Air Cooled Chillers Market Breakdown, by Type
10.3 Europe
- 10.3.1 Europe Air Cooled Chillers Market Overview
- 10.3.2 Europe: Air Cooled Chillers Market - Revenue, 2021-2031 (US$ Million)
- 10.3.3 Europe: Air Cooled Chillers Market Breakdown, by Process
  - 10.3.3.1 Europe: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Process
- 10.3.4 Europe: Air Cooled Chillers Market Breakdown, by Application
  - 10.3.4.1 Europe: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Application
- 10.3.5 Europe: Air Cooled Chillers Market Breakdown, by Type
  - 10.3.5.1 Europe: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Type
- 10.3.6 Europe: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Country
  - 10.3.6.1 Europe: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Country
  - 10.3.6.2 Germany: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.3.6.2.1 Germany: Air Cooled Chillers Market Breakdown, by Process
    - 10.3.6.2.2 Germany: Air Cooled Chillers Market Breakdown, by Application
    - 10.3.6.2.3 Germany: Air Cooled Chillers Market Breakdown, by Type
  - 10.3.6.3 United Kingdom: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.3.6.3.1 United Kingdom: Air Cooled Chillers Market Breakdown, by Process
    - 10.3.6.3.2 United Kingdom: Air Cooled Chillers Market Breakdown, by Application
    - 10.3.6.3.3 United Kingdom: Air Cooled Chillers Market Breakdown, by Type
  - 10.3.6.4 France: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.3.6.4.1 France: Air Cooled Chillers Market Breakdown, by Process
    - 10.3.6.4.2 France: Air Cooled Chillers Market Breakdown, by Application
    - 10.3.6.4.3 France: Air Cooled Chillers Market Breakdown, by Type
  - 10.3.6.5 Italy: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.3.6.5.1 Italy: Air Cooled Chillers Market Breakdown, by Process
    - 10.3.6.5.2 Italy: Air Cooled Chillers Market Breakdown, by Application
    - 10.3.6.5.3 Italy: Air Cooled Chillers Market Breakdown, by Type
  - 10.3.6.6 Russia: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.3.6.6.1 Russia: Air Cooled Chillers Market Breakdown, by Process
    - 10.3.6.6.2 Russia: Air Cooled Chillers Market Breakdown, by Application
    - 10.3.6.6.3 Russia: Air Cooled Chillers Market Breakdown, by Type
  - 10.3.6.7 Rest of Europe: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.3.6.7.1 Rest of Europe: Air Cooled Chillers Market Breakdown, by Process
    - 10.3.6.7.2 Rest of Europe: Air Cooled Chillers Market Breakdown, by Application
    - 10.3.6.7.3 Rest of Europe: Air Cooled Chillers Market Breakdown, by Type
10.4 Asia Pacific
- 10.4.1 Asia Pacific Air Cooled Chillers Market Overview
- 10.4.2 Asia Pacific: Air Cooled Chillers Market - Revenue, 2021-2031 (US$ Million)
- 10.4.3 Asia Pacific: Air Cooled Chillers Market Breakdown, by Process
  - 10.4.3.1 Asia Pacific: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Process
- 10.4.4 Asia Pacific: Air Cooled Chillers Market Breakdown, by Application
  - 10.4.4.1 Asia Pacific: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Application
- 10.4.5 Asia Pacific: Air Cooled Chillers Market Breakdown, by Type
  - 10.4.5.1 Asia Pacific: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Type
- 10.4.6 Asia Pacific: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Country
  - 10.4.6.1 Asia Pacific: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Country
  - 10.4.6.2 China: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.4.6.2.1 China: Air Cooled Chillers Market Breakdown, by Process
    - 10.4.6.2.2 China: Air Cooled Chillers Market Breakdown, by Application
    - 10.4.6.2.3 China: Air Cooled Chillers Market Breakdown, by Type
  - 10.4.6.3 Japan: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.4.6.3.1 Japan: Air Cooled Chillers Market Breakdown, by Process
    - 10.4.6.3.2 Japan: Air Cooled Chillers Market Breakdown, by Application
    - 10.4.6.3.3 Japan: Air Cooled Chillers Market Breakdown, by Type
  - 10.4.6.4 India: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.4.6.4.1 India: Air Cooled Chillers Market Breakdown, by Process
    - 10.4.6.4.2 India: Air Cooled Chillers Market Breakdown, by Application
    - 10.4.6.4.3 India: Air Cooled Chillers Market Breakdown, by Type
  - 10.4.6.5 South Korea: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.4.6.5.1 South Korea: Air Cooled Chillers Market Breakdown, by Process
    - 10.4.6.5.2 South Korea: Air Cooled Chillers Market Breakdown, by Application
    - 10.4.6.5.3 South Korea: Air Cooled Chillers Market Breakdown, by Type
  - 10.4.6.6 Australia: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.4.6.6.1 Australia: Air Cooled Chillers Market Breakdown, by Process
    - 10.4.6.6.2 Australia: Air Cooled Chillers Market Breakdown, by Application
    - 10.4.6.6.3 Australia: Air Cooled Chillers Market Breakdown, by Type
  - 10.4.6.7 Rest of APAC: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.4.6.7.1 Rest of APAC: Air Cooled Chillers Market Breakdown, by Process
    - 10.4.6.7.2 Rest of APAC: Air Cooled Chillers Market Breakdown, by Application
    - 10.4.6.7.3 Rest of APAC: Air Cooled Chillers Market Breakdown, by Type
10.5 Middle East and Africa
- 10.5.1 Middle East and Africa Air Cooled Chillers Market Overview
- 10.5.2 Middle East and Africa: Air Cooled Chillers Market - Revenue, 2021-2031 (US$ Million)
- 10.5.3 Middle East and Africa: Air Cooled Chillers Market Breakdown, by Process
  - 10.5.3.1 Middle East and Africa: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Process
- 10.5.4 Middle East and Africa: Air Cooled Chillers Market Breakdown, by Application
  - 10.5.4.1 Middle East and Africa: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Application
- 10.5.5 Middle East and Africa: Air Cooled Chillers Market Breakdown, by Type
  - 10.5.5.1 Middle East and Africa: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Type
- 10.5.6 Middle East and Africa: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Country
  - 10.5.6.1 Middle East and Africa: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Country
  - 10.5.6.2 Saudi Arabia: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.5.6.2.1 Saudi Arabia: Air Cooled Chillers Market Breakdown, by Process
    - 10.5.6.2.2 Saudi Arabia: Air Cooled Chillers Market Breakdown, by Application
    - 10.5.6.2.3 Saudi Arabia: Air Cooled Chillers Market Breakdown, by Type
  - 10.5.6.3 United Arab Emirates: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.5.6.3.1 United Arab Emirates: Air Cooled Chillers Market Breakdown, by Process
    - 10.5.6.3.2 United Arab Emirates: Air Cooled Chillers Market Breakdown, by Application
    - 10.5.6.3.3 United Arab Emirates: Air Cooled Chillers Market Breakdown, by Type
  - 10.5.6.4 South Africa: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.5.6.4.1 South Africa: Air Cooled Chillers Market Breakdown, by Process
    - 10.5.6.4.2 South Africa: Air Cooled Chillers Market Breakdown, by Application
    - 10.5.6.4.3 South Africa: Air Cooled Chillers Market Breakdown, by Type
  - 10.5.6.5 Rest of Middle East and Africa: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.5.6.5.1 Rest of Middle East and Africa: Air Cooled Chillers Market Breakdown, by Process
    - 10.5.6.5.2 Rest of Middle East and Africa: Air Cooled Chillers Market Breakdown, by Application
    - 10.5.6.5.3 Rest of Middle East and Africa: Air Cooled Chillers Market Breakdown, by Type
10.6 South and Central America
- 10.6.1 South and Central America Air Cooled Chillers Market Overview
- 10.6.2 South and Central America: Air Cooled Chillers Market - Revenue, 2021-2031 (US$ Million)
- 10.6.3 South and Central America: Air Cooled Chillers Market Breakdown, by Process
  - 10.6.3.1 South and Central America: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Process
- 10.6.4 South and Central America: Air Cooled Chillers Market Breakdown, by Application
  - 10.6.4.1 South and Central America: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Application
- 10.6.5 South and Central America: Air Cooled Chillers Market Breakdown, by Type
  - 10.6.5.1 South and Central America: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Type
- 10.6.6 South and Central America: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Country
  - 10.6.6.1 South and Central America: Air Cooled Chillers Market - Revenue and Forecast Analysis - by Country
  - 10.6.6.2 Brazil: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.6.6.2.1 Brazil: Air Cooled Chillers Market Breakdown, by Process
    - 10.6.6.2.2 Brazil: Air Cooled Chillers Market Breakdown, by Application
    - 10.6.6.2.3 Brazil: Air Cooled Chillers Market Breakdown, by Type
  - 10.6.6.3 Argentina: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.6.6.3.1 Argentina: Air Cooled Chillers Market Breakdown, by Process
    - 10.6.6.3.2 Argentina: Air Cooled Chillers Market Breakdown, by Application
    - 10.6.6.3.3 Argentina: Air Cooled Chillers Market Breakdown, by Type
  - 10.6.6.4 Rest of South and Central America: Air Cooled Chillers Market - Revenue and Forecast, 2021-2031 (US$ Million)
    - 10.6.6.4.1 Rest of South and Central America: Air Cooled Chillers Market Breakdown, by Process
    - 10.6.6.4.2 Rest of South and Central America: Air Cooled Chillers Market Breakdown, by Application
    - 10.6.6.4.3 Rest of South and Central America: Air Cooled Chillers Market Breakdown, by Type

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Market Share Analysis, 2024

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Merger and Acquisition
12.4 Other Developments

13. Company Profiles

13.1 Stulz SpA
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
- 13.1.6 Key Developments
13.2 Daikin Industries Ltd
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
- 13.2.6 Key Developments
13.3 Blue Star Ltd
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
- 13.3.6 Key Developments
13.4 HYDAC International GmbH
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
- 13.4.6 Key Developments
13.5 Panasonic Holdings Corp
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis
- 13.5.6 Key Developments
13.6 Johnson Controls International Plc
- 13.6.1 Key Facts
- 13.6.2 Business Description
- 13.6.3 Products and Services
- 13.6.4 Financial Overview
- 13.6.5 SWOT Analysis
- 13.6.6 Key Developments
13.7 Mitsubishi Heavy Industries Ltd
- 13.7.1 Key Facts
- 13.7.2 Business Description
- 13.7.3 Products and Services
- 13.7.4 Financial Overview
- 13.7.5 SWOT Analysis
- 13.7.6 Key Developments
13.8 Carrier Global Corp
- 13.8.1 Key Facts
- 13.8.2 Business Description
- 13.8.3 Products and Services
- 13.8.4 Financial Overview
- 13.8.5 SWOT Analysis
- 13.8.6 Key Developments
13.9 Trane Technologies Plc
- 13.9.1 Key Facts
- 13.9.2 Business Description
- 13.9.3 Products and Services
- 13.9.4 Financial Overview
- 13.9.5 SWOT Analysis
- 13.9.6 Key Developments
13.10 Thermo Fisher Scientific Inc.
- 13.10.1 Key Facts
- 13.10.2 Business Description
- 13.10.3 Products and Services
- 13.10.4 Financial Overview
- 13.10.5 SWOT Analysis
- 13.10.6 Key Developments

14. Appendix

14.1 About The Insight Partners
14.2 List of Abbreviations