Industrial Process Chiller Market Set for Remarkable Growth Through 2033

According to a new study by DataHorizzon Research, the "Industrial Process Chiller Market" is projected to grow at a CAGR of 5.5% from 2025 to 2033, driven by increasing demand for precise temperature control across manufacturing sectors, rapid industrialization in emerging economies, and the growing emphasis on energy-efficient cooling solutions in chemical processing, pharmaceuticals, and food & beverage industries.

Market Size & Insights

The industrial process chiller market is valued at approximately USD 5.5 billion in 2024 and is anticipated to reach around USD 8.2 billion by 2033, reflecting a CAGR of 5.5% from 2025 to 2033.

This substantial growth trajectory is underpinned by several key factors, including the accelerating pace of industrial automation, stringent regulatory requirements for process temperature control, and the increasing adoption of advanced manufacturing processes that require precise thermal management.

The market's expansion is particularly pronounced in sectors where temperature precision directly impacts product quality and operational efficiency. Manufacturing industries are increasingly recognizing that reliable process cooling is not merely a supporting function but a critical component of their competitive advantage. The integration of smart technologies and Internet of Things (IoT) capabilities into chiller systems has further enhanced their appeal, enabling predictive maintenance, real-time monitoring, and optimized energy consumption patterns that deliver measurable cost savings and operational improvements.

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Market Segments

By Type:
o Air-Cooled Chillers
o Water-Cooled Chillers
o Evaporative Condensed Chillers

By Cooling Capacity:
o Less than 100 kW
o 100-350 kW
o 351-700 kW
o Above 700 kW

By Refrigerant Type:
o R134a
o R410A
o R407C
o Ammonia (NH3)
o Others

By End-Use Industry:
o Plastics
o Food & Beverage
o Pharmaceuticals
o Chemicals & Petrochemicals
o Others

By Region:
o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East & Africa

Top 10 Market Companies

• Carrier Global Corporation
• Daikin Industries Ltd.
• Johnson Controls International PLC
• Trane Technologies PLC
• Mitsubishi Electric Corporation
• LG Electronics Inc.
• Danfoss Group
• Emerson Electric Co.
• Baltimore Aircoil Company
• Thermal Care Inc.

Recent Developments

The industrial process chiller market has witnessed significant technological advancements and strategic initiatives in recent months. Leading manufacturers are increasingly focusing on developing energy-efficient solutions that comply with evolving environmental regulations while delivering superior performance. In January 2025, Midea announced expansion of its manufacturing in Thailand by building two new plants in Rayong, with a 66.4 million baht plant expected to open in Q2 producing VRF systems and chillers. This expansion reflects the growing demand for advanced cooling solutions in the Asia-Pacific region.

In December 2024, Vertiv Group Corp acquired certain assets and technologies of BiXin Energy Technology (BSE), a China-based chiller manufacturer, expanding Vertiv's chiller portfolio particularly for high-performance computing and AI applications. These strategic moves highlight the industry's focus on emerging technologies and specialized applications that require sophisticated thermal management solutions. Additionally, manufacturers are investing heavily in research and development to create chillers with improved automation capabilities, enhanced energy efficiency ratings, and reduced environmental impact through the use of next-generation refrigerants.

Regional Insights

Asia-Pacific dominates the industrial process chiller market, accounting for over 46.5% of the global market share in 2025, driven by rapid industrialization, expanding manufacturing bases, and significant infrastructure investments across the region. Countries like China, India, Japan, and South Korea are leading this growth, with their robust manufacturing sectors creating substantial demand for advanced cooling solutions. The region's emphasis on automation and smart manufacturing is further accelerating adoption of sophisticated chiller systems. North America and Europe represent mature markets with steady growth, focusing primarily on equipment replacement and efficiency upgrades. The Middle East and Africa region is emerging as a significant growth area, particularly driven by expanding petrochemical industries and increasing industrial activities in Gulf Cooperation Council countries.

Market Outlook

The industrial process chiller market outlook through 2033 remains exceptionally positive, supported by multiple converging trends that favor sustained growth and technological advancement. The increasing global focus on sustainability and energy efficiency is driving demand for next-generation chiller systems that offer superior performance while minimizing environmental impact. Industry 4.0 initiatives and the proliferation of smart manufacturing practices are creating new opportunities for intelligent chiller systems equipped with advanced monitoring, diagnostics, and predictive maintenance capabilities.

The pharmaceutical and biotechnology sectors are expected to be particularly strong growth drivers, as these industries require increasingly precise temperature control for complex manufacturing processes and product storage. Similarly, the expansion of data centers and high-performance computing facilities is creating new demand segments for specialized cooling solutions. Emerging applications in renewable energy systems, electric vehicle manufacturing, and advanced materials processing are also contributing to market diversification and growth potential.

Technological innovation will continue to be a key differentiator, with manufacturers investing in magnetic bearing compressors, variable speed drives, and eco-friendly refrigerants to meet evolving customer demands and regulatory requirements. The integration of artificial intelligence and machine learning capabilities into chiller control systems represents the next frontier, promising unprecedented levels of efficiency optimization and predictive maintenance capabilities that will further enhance the value proposition of modern industrial process chillers.

Contact:
Ajay N
Ph: +1-970-633-3460

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Company Name: DataHorizzon Research
Address: North Mason Street, Fort Collins,
Colorado, United States.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR's comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

This release was published on openPR.