Global Chiller Market Expected to Reach USD 15.2 Billion by 2033 - IMARC Group

Global Chiller Market Statistics, Outlook and Regional Analysis 2025-2033

The global chiller market size was valued at USD 11.1 Billion in 2024, and it is expected to reach USD 15.2 Billion by 2033, exhibiting a growth rate (CAGR) of 3.53% from 2025 to 2033.

The global chiller market is rigorously expanding due to the growing need for cost and energy-efficient cooling systems in industries, including manufacturing, healthcare, food and beverage (F&B), and data centers. In line with this, industries are actively shifting towards minimizing their effect on the environment by implementing strict norms for power consumption, energy energy-efficient chillers, driving the market demand. This has become an essential requirement for the operations, further boosting the market demand. Moreover, the rising globalization, rapid urbanization along with infrastructure development in the new emerging economies are surging the demand for chillers and contributing to the market expansion. In addition to this, the rise in new construction activities such as residential complexes, and business establishments that require modern cooling systems are providing an impetus to the market. Besides this, the flourishing growth of the F&B industry and the increasing demand for packaged and processed food products are impelling the need to use refrigeration and cooling systems to extend the shelf-life of products, thus significantly bolstering the market expansion.

Concurrent with this, the growing awareness of people toward indoor air quality is resulting in the surging demand for cooling and air conditioning for maintaining indoor temperature and humidity. Additionally, the growing data center market, fueled by the integration of digital data and cloud computing, is acting as another growth-inducing factor, as these facilities require precise and reliable cooling solutions to maintain the performance and longevity of their information technology (IT) equipment. Furthermore, ongoing technological advancements in chiller designs, such as the development of smart chillers with integrated Internet of Things (IoT) capabilities, are driving the market demand by enabling more enhanced energy usage, monitoring and control of temperature, and maintenance needs. As per the National Oceanic and Atmospheric Administration (NOAA) and other research groups, Earth was about 2.45 degrees Fahrenheit or about 1.36 degrees Celsius warmer in 2023 than in the late 19^th century. The ten most recent years are the warmest on record. This trend has necessitated the need for cooling systems in regions that face extreme humidity and hot temperatures. In conjunction with this, the increasing government regulations aimed at reducing the use of ozone-depleting substances and promoting the use of eco-friendly refrigerants are encouraging manufacturers to adopt more sustainable chiller technologies, which is propelling the market forward.

Global Chiller Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share on account of rapid urbanization, growing manufacturing sectors, and rising demand for energy-efficient cooling.

North America Chiller Market Trends:

In North America, the demand for chillers is rising due to the surging consumption of web data centers, which need effective cooling systems. In addition, the increasing environmental standards and expanding promotion of sustainable building, energy-saving, and environmentally friendly systems are fueling the market demand for chillers in the region.

Asia-Pacific Chiller Market Trends:

The chiller market in Asia Pacific holds a share of 45.4% globally. The market demand is surging due to the growth of technology in the healthcare and pharmaceutical industry, as they require precision in temperature regulation for storage facilities to avoid spoiling temperature-sensitive products such as vaccines and medication. Furthermore, the rising retail business in the region is fostering market growth as e-commerce is investing in advanced refrigeration equipment to deal with perishable products, impelling the market growth. Besides this, advanced food safety and quality consciousness are promoting the usage of chillers in food processing and cold storage sectors, fueling the market demand. Apart from this, the construction industry in the region is emphasizing smart buildings, which is enhancing the need for effective cooling solutions and providing an impetus to the market.

Europe Chiller Market Trends:

In Europe, the growth of the chiller market is driven by the increase of ecological certifications like Leadership in Energy and Environmental Design (LEED), which integrates the usage of energy-saving equipment. Moreover, the expansion of the automotive and manufacturing industries, along with the advanced solutions in industrial refrigeration is boosting the development of improved chiller solutions, supporting the market growth.

Latin America Chiller Market Trends:

The demand in Latin America is rising because of the fast-developing construction and real estate market which needs chillers for various commercial and civil infrastructures. Besides this, the increasing F&B sectors are strengthening the market share, as they need chillers to cool products, maintaining their quality and extending their shelf lives.

Middle East and Africa Chiller Market Trends:

In the Middle East and Africa, the demand for chillers is expanding as it is one of the largest consumers of chillers, due to the temperature changes, as conventional air conditioning fails in extreme temperatures. In addition to this, the increasing modernization, rising construction activities, and the surging demand in industries such as oil and gas, along with evolving consumer preference towards energy-efficient cooling systems is contributing to the market expansion.

Top Companies Leading in the Chiller Industry

Some of the leading chiller market companies include Carrier Global Corporation, Daikin Industries Ltd., Friulair S.r.l., General Air Products, HYDAC International GmbH, Johnson Controls International PLC, KKT Chillers Inc., LG Electronics Inc., Mitsubishi Electric Corporation, PolyScience Inc., Trane Technologies plc, among many others.

• In November 2024, Daikin developed a closed loop system, providing an efficient, glycol-free solution in its TZ D air-cooled free cooling chiller range, delivering top performance across capacities from 180 to 2150 kW.

Global Chiller Market Segmentation Coverage

• On the basis of the type, the market has been categorized into screw, scroll, centrifugal, and others, wherein screw represents the leading segment due to their efficiency, reliability, and ability to handle various applications. They provide enhanced cooling output, lower power consumption, and efficiency in large-scale operations, which makes them suitable for industries, commerce, and production applications that need steady cooling, thus providing an impetus to the market.
• Based on the product type, the market is bifurcated into air cooled, and water cooled, amongst which water cooled dominate the market as they offer higher energy efficiency and greater cooling capacity compared to air-cooled systems. These are commonly used in large commercials and industries where cooling is frequently required, for working in high-temperature conditions, becoming the ideal choice for several industries, thereby fueling the market demand.
• On the basis of the power range, the market has been divided into less than 50 kW, 50-200 kW, and more than 200kW. Among these, more than 200kW power range accounts for the majority of the market share due to its suitability for large-scale industrial and commercial applications, such as data centers, large manufacturing plants, and commercial buildings. These systems provide higher cooling capacity, better efficiency, and long-term reliability, making them ideal for industries with high cooling demands and larger operational needs, supporting the market growth.
• Based on the end use industry, the market is segregated into food and beverage, plastic and rubber, chemicals and petrochemicals, pharmaceuticals, and others. Chemicals and petrochemicals lead the market because these industries require precise temperature control to ensure the quality, safety, and efficiency of their processes. Chillers are crucial for maintaining optimal conditions during chemical reactions, storage, and transportation of raw materials, to minimize product deterioration and enhance operational productivity, as they require high temperatures, aiding in the market expansion.

Browse IMARC Related Reports on Chiller Market:

• Japan Chiller Market Report