HVAC chillers in North America Market Recent Trends, In-depth Analysis, Size and Forecast to 2031

The North America HVAC chillers market size was valued at US$ 2.52 billion in 2023 and is expected to reach US$ 3.48 billion by 2031; it is estimated to record a CAGR of 4.1% from 2023 to 2031.

In North America, the US, Canada, and Mexico are considered technologically advanced nations. There has been a rise in the adoption of HVAC systems owing to various features provided in these systems, such as energy efficiency and sustainability, which is a major driver for the North America HVAC chillers market.

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According to Air Conditioning Contractors of America ACCA, HVAC services in North America are set to increase in value from US$ 25.6 billion in 2019 to US$ 35.8 billion by 2030. The growing application of HVAC systems across North America is anticipated to propel the growth of the HVAC chillers market during the forecast period.

Analysis of the Top Market Players:

1. Airedale International Air Conditioning Ltd.
2. Carrier Global Corp.
3. DAIKIN INDUSTRIES, Ltd.
4. Drake Refrigeration, Inc.
5. GEA Group AG
6. Johnson Controls Inc.
7. Mitsubishi Electric Corporation
8. LG Electronics
9. Thermal Care, Inc.
10. Trane Technologies
11. Kaltra
12. BROADU.S.A. INC.

In this report, the market has been segmented on the basis of:

Technology (Air-Cooled, Water-Cooled, and Steam-Fired)
Type (Process Chillers, Scroll Chillers, Centrifugal Chillers, and Absorption Chillers)
Application (Industrial, Commercial, and Residential), and Country

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Expanding urbanization and rising economic growth have resulted in an increased number of commercial hubs, shopping malls, entertainment hubs, offices, hotels, large retailers, and theaters. Governments of countries in North America are focusing on the development of smart cities and the expansion of airport facilities. Thus, increasing industrialization, rising construction activities, increasing smart city projects, and the growing tourism industry are boosting the demand for HVAC chillers in the industrial, commercial, and residential sectors across the region.

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