Chillers Industry Overview
The global chillers market size was estimated at USD 9,928.3 million in 2023 and is projected to grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2030.
The market is driven by the rising need for cost-effective and energy-efficient space cooling solutions in commercial and industrial sectors. This, in turn, is expected to augment the demand for the chillers market over the forecast period.
Gather more insights about the market drivers, restrains and growth of the Chillers Market
According to the U.S. Department of Agriculture (USDA), the growing population, rising consumer disposable income, and ongoing urbanization are expected to augment the growth of commercial and residential sector in the country in the forecast period. The demand for chillers in the U.S. residential sectors is driven by a combination of factors, including the need for efficient and reliable air conditioning systems. With a focus on energy efficiency, homeowners are increasingly adopting chillers equipped with advanced technologies and smart controls to ensure precise temperature regulation while minimizing environmental impact. In the commercial sector, the demand for chillers remains robust, particularly in industries such as hospitality, healthcare, and data centres.
Moreover, chillers play a pivotal role in maintaining optimal temperatures for occupant comfort, equipment reliability, and critical processes. The trend towards sustainable building practices and stringent energy efficiency standards further accelerates the adoption of chillers in both residential and commercial applications across the U.S.
The integration of advanced technologies is transforming the global market. Smart chillers, equipped with IoT capabilities, sensors, and predictive maintenance features, allow for remote monitoring and optimization. These technologies enhance overall system efficiency, reduce downtime, and contribute to cost savings. These aforementioned factors are further expected to drive the demand for market over the forecast period.
Global Chillers Market Report Segmentation
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this report, Grand View Research has segmented the global chillers market report based on product, application, compressor type, and region
Product Outlook (Revenue, USD Million, 2018 - 2030)
· Water-Cooled
o <50kW
o 51-100kW
o 101-500kW
o 501-1000kW
o 1001-1500kW
o >1501kW
· Air -Cooled
o <50kW
o 51-100kW
o 101-500kW
o 501-1000kW
o 1001-1500kW
o >1501kW
Application Outlook (Revenue, USD Million, 2018 - 2030)
· Commercial
o Corporate Offices
o Data Centers
o Public Buildings
o Mercantile & Service
o Healthcare
o Others
· Industrial
o Chemicals & Pharmaceuticals
o Food & Beverage
o Metal Manufacturing & Machining
o Medical & Pharmaceutical
o Plastics
o Others
· Residential
Compressor Type Outlook (Revenue, USD Million, 2018 - 2030)
· Screw Chillers
· Centrifugal Chillers
· Absorption Chillers
· Scroll Chillers
· Reciprocating Chillers
Regional Outlook (Revenue, USD Million, 2018 - 2030)
· North America
o US
o Canada
o Mexico
· Europe
o UK
o Germany
o France
o Italy
o Spain
o Russia
· Asia Pacific
o China
o Japan
o India
o Australia
o Thailand
o South Korea
o Indonesia
o Malaysia
· Central & South America
o Brazil
o Argentina
· Middle East and Africa
o Saudi Arabia
o South Africa
o UAE
Browse through Grand View Research's Advanced Interior Materials Industry Research Reports.
• The global hardfacing welding market size
English
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek
Mazighiyya