Press release
Chillers Market Set to Surge to USD 6.26 Trillion by 2035, Driven by Commercial & Industrial Cooling Demand
Chillers Market
The increased need for precise temperature adjustments in data centers, hospitals, and high-reliability production remains a driving force behind the liberalization of chillers. Nonetheless, regulatory pressure in terms of refrigerant use and the overall energy efficiency of the life cycle is changing procurement trends and the architecture (of systems) in all end-use sectors.
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Key Takeaways from Market Study:
Global chillers market is projected to reach USD 6,256.3 billion by 2035.
Market is expected to grow at a CAGR of 3.1% from 2025 to 2035
Compressor chillers segment projected to expand at a CAGR of 3.3%.
Absorption chillers segment expected to grow at a CAGR of 2.1%.
India forecasted to register the highest growth at 4.9% CAGR.
China expected to grow at 3.3% CAGR, followed by the U.S. at 2.4% CAGR.
Absorption chillers market expected to reach USD 2.64 billion by 2034.
Modular chillers market anticipated to grow to USD 7.3 billion by 2035.
Leading Players Driving Innovation in the Chillers Market:
Major players include Trane, Carrier, Johnson Controls, Daikin, Mitsubishi Electric, LG, Blue Star, Midea, and GEA Group.
Key Highlights:
Compressor chillers, the primary growth engine of the market, are projected to deliver a 3.3% CAGR, with strong demand across screw, centrifugal, scroll, and reciprocating configurations.
Absorption chillers are expected to grow at a 2.1% CAGR, supported by rising interest in energy-efficient, low-emission cooling technologies.
Among the major regions, India is forecasted to register the fastest growth at 4.9% CAGR, followed by China at 3.3% and the U.S. at 2.4%, reflecting varying regional adoption patterns and infrastructure investments.
Market Drivers and Trends:
The market's expansion is primarily fueled by growing demand for precise temperature control in critical settings such as data centers, hospitals, and industrial production lines. Rising global temperatures and the need for efficient indoor climate management are reinforcing the need for advanced chiller systems.
Additionally, stricter environmental regulations and the shift toward low-global-warming-potential (GWP) refrigerants are compelling manufacturers to innovate in product design and performance.
Commercial HVAC retrofitting projects, particularly in North America, are also catalyzing market growth by replacing outdated systems with smart, energy-saving chillers.
Chillers Market News:
January 2025 - Daikin unveiled the VRX-series scroll chiller with an inverter compressor integrated and multi-refrigerant control of R-32 and R-1234yf.
August 2024-Johnson Controls made a partnership with the U.S. DOE for pilot testing the ultra-low GWP centrifugal chillers in actual load conditions.
Browse Full Report: https://www.factmr.com/report/554/chillers-market
More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the global chillers market, presenting historical data for 2020 to 2024 and forecast statistics for 2025 to 2035.
The chillers market is segmented by product type into compressor chillers (screw, centrifugal, scroll, reciprocating) and absorption chillers. By capacity, it ranges from up to 30 tons to above 150 tons.
Based on cooling technology, it includes air-cooled, water-cooled, and evaporative condensed systems. Coolant types include R134A, R744, R717, HCFCs, HCS, R407C, R404A, R410A, R448A, R449A, and others. The market serves commercial sectors like offices, data centers, and hospitality, and industrial sectors such as chemicals, healthcare, plastics, food & beverage, oil & gas, energy, automotive, and manufacturing. Regionally, it spans North America, Latin America, Europe, Asia Pacific, and MEA.
Check out More Related Studies Published by Fact.MR Research:
Process Chillers Market - https://www.factmr.com/report/1904/process-chillers-market
Portable Chiller Market - https://www.factmr.com/report/3319/portable-chiller-market
Modular Chiller Market - https://www.factmr.com/report/modular-chiller-market
Brine Chillers Market - https://www.factmr.com/report/brine-chillers-market
Absorption Chiller Market - https://www.factmr.com/report/absorption-chiller-market
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