Projected to fuel the growth of the global chillers market at a CAGR of 3.50% during the forecast period 2023 to 2032

Market Research Future (MRFR) has published on the “Global Chillers Market”

MRFR recognizes the following companies as the key players in the global chillers market— Carrier Global Corporation, Mitsubishi Electric Corporation, Daikin Industries Ltd, Dimplex Thermal Solutions, LG Electronics, Johnson Controls International Plc, Gree Electric Appliances Inc of Zhuhai, Midea Group Co. Ltd, Thermax Ltd, and Trane Technologies

Market Highlights

The global chillers market is accounted to register a CAGR of 3.50% during the forecast period and is estimated to reach USD 5.72 billion by 2032.

A chiller removes heat from a liquid refrigerant using vapor-compression, adsorption refrigeration, or absorption refrigeration cycles. A chiller's essential parts are the compressor, condenser, expansion valve, and evaporator. Together, they circulate a refrigerant that eliminates heat from a procedure, or space.

Today, more consumers prefer screw compressors that employ environmentally favorable refrigerants. In addition to being user-friendly and low-maintenance, screw chillers operate as either air or water refrigeration by compressing the refrigerant with two interlocked helical rotors. Global warming has brought about numerous changes in recent years as a result of rising global temperatures. A condenser eliminates excess heat from a home, company, or industrial structure. The HVAC systems in hotels, hospitals, restaurants, sporting arenas, and industrial and manufacturing facilities have become indispensable.

Browse In-depth Detailed Research Report [Table of Content, List of Figures, List of Tables] of Chillers Market

Segment Analysis

The global chillers market has been segmented based on type, capacity, and end-use industry.

Based on type, the market is segmented into scroll, screw, centrifugal, reciprocating, and absorption. The scroll segment was attributed to holding the largest market share in 2022.

Based on capacity, the global chillers market has been segmented into >17.5 kW, 17.6-50 kW, 51-100 kW, 101-200 kW, 201-350 kW, 351-500 kW, 701-900 kW, 901-1200 KW, 1201-1500 kW, 1501-2000 kW, 2001-25000 kW, and >2501 kW. The >17.5 kW segment was expected to hold the largest market share in 2022.

Based on the end-use industry, the global chillers market has been segmented into plastics, food & beverage, medical & pharmaceuticals, chemicals & petrochemicals, rubber, printing, laser cutting, alternative energy, and others. The food & beverage segment was expected to hold the largest market share in 2022.

Regional Analysis

The global Chillers market, based on region, has been divided into North America, Europe, Asia-Pacific, and the Rest of the World. North America consists of US and Canada. The Europe Chillers market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Chillers market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Chillers market comprises of Middle East, Africa, and Latin America.

The North American region is anticipated to be the largest region in the chiller market over the forecast period. Increasing investments in manufacturing facilities for product development by key market participants are propelling market growth in North America. The region's market expansion is being driven by the rapid expansion of the commercial and residential sectors, which are boosting the growth of the North American region.

Moreover, the European region is anticipated to be the second largest region. The replacement of R22 refrigerants, the prominence of chiller suppliers, and the installation of chillers in high-rise office buildings and ports are driving market growth

Additionally, the Asia Pacific region is expected to be the fast growing region in the chiller market. The increasing number of IT facilities in the region is expected to have a positive effect on the growth of the chillers market in the Asia Pacific during the forecast period.

Furthermore, the rest of the world's chiller market is divided into the Middle East, Africa, and Latin America. In these regions, the construction of commercial structures, such as retail and office buildings, has increased significantly. The rapid expansion of transportation infrastructure in the Kingdom of Saudi Arabia (KSA) is anticipated to spur both residential and business development in surrounding areas, which will have a positive impact on product demand over the forecast period.

Key Findings of the Study

• The global Chillers market is expected to reach USD 5.72 billion by 2032, at a CAGR of 3.50% during the forecast period.


• The Asia Pacific region accounted for the fastest-growing global market, owing to the increasing prevalence of chronic diseases such as cancer, diabetes, and cardiac diseases, the increasing number of investigational compounds, and ongoing preclinical trials in oncology in the Asia-Pacific region.


• Based on the end-use industry, the food & beverage segment was attributed to holding the largest market in 2022, with an approximate market share of 35–40%.


• Carrier Global Corporation, Mitsubishi Electric Corporation, Daikin Industries Ltd, Dimplex Thermal Solutions, LG Electronics, Johnson Controls International Plc, Gree Electric Appliances Inc of Zhuhai, Midea Group Co. Ltd, Thermax Ltd, and Trane Technologies are the key market players.