Product Code: PM4794
The global chillers market size is expected to reach USD 5.34 billion by 2032, according to a new study by Polaris Market Research. The report "Chillers Market Share, Size, Trends, Industry Analysis Report, By Product, By Application, By Compressor Type (Screw Chillers, Centrifugal Chillers, Absorption Chillers, Scroll Chillers, Reciprocating Chillers), By Region, And Segment Forecasts, 2024 - 2032" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Proposed legislation and funding initiatives aimed at cold storage facilities by governments are expected to have a positive impact on market growth. Cold storage represents a crucial application area for chillers, involving the preservation of various goods in a chilled environment to extend their shelf life, particularly for food and pharmaceuticals, while inhibiting bacterial growth. Cold storage facilities encompass a range of establishments from warehouses and research facilities to restaurants, breweries, and mobile transport units. Chillers play a pivotal role in cold storage by effectively transferring heat from one location to another.
Chillers play a crucial role in removing excess heat from residential, commercial, and industrial buildings to provide air conditioning, utilizing refrigerants to extract heat from condensers and evaporators. The Joint Center for Housing Studies forecasts that over the next decade, the construction and renovation demand in the United States will primarily be driven by baby boomers. This surge in construction activity is expected to have a positive impact on the expansion of the country's chillers market. For example, according to the United States Census Bureau, in May 2021, the seasonally adjusted annual rate of private housing authorized by building permits was 1,681,000, marking a 34.9% increase from May 2020.
The Ministry of Electronics and Information Technology (MEITY) in India introduced the draft Data Centre Policy to facilitate the country's data center expansion efforts. This policy establishes criteria for the authorization and operation of data centers, along with outlining structural and regulatory guidelines. It sets timelines for constructing data centers and data center parks. Furthermore, the policy outlines regulations governing the establishment of joint ventures and partnerships for data center construction.
Chillers Market Report Highlights
Medical segment expected to grow at the robust rate, as there is need cooler environment in storage and supply of key medicines
Residential segment held the largest share, owing to rise in number of home owners in both developed and developing worlds.
APAC will grow with the fastest growth rate, owing to huge demand of chillers in commercial buildings and perishable food products
The global players include Carrier Corporation, Daikin Industries, Johnson Controls- Hitachi Air Conditioning, KKT Chillers, Reynold India, Smardt Chiller Group
Polaris Market Research has segmented the chillers market report based on product, application, compressor type, and region:
Chillers, Product Outlook (Revenue - USD Billion, 2019 - 2032)
- Water-Cooled
- <50kW
- 51-100kW
- 101-500kW
- 501-1000kW
- 1001-1500kW
- >1501kW
- Air -Cooled
- <50kW
- 51-100kW
- 101-500kW
- 501-1000kW
- 1001-1500kW
- >1501kW
Chillers, Application Outlook (Revenue - USD Billion, 2019 - 2032)
- Commercial
- Corporate Offices
- Data Centers
- Public Buildings
- Mercantile & Service
- Healthcare
- Others
- Industrial
- Chemicals & Pharmaceuticals
- Food & Beverage
- Metal Manufacturing & Machining
- Medical & Pharmaceutical
- Plastics
- Others
- Residential
Chillers, Compressor Type Outlook (Revenue - USD Billion, 2019 - 2032)
- Screw Chillers
- Centrifugal Chillers
- Absorption Chillers
- Scroll Chillers
- Reciprocating Chillers
Chillers, Regional Outlook (Revenue - USD Billion, 2019 - 2032)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Indonesia
- Malaysia
- Rest of Asia Pacific
- Latin America
- Argentina
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
- Rest of Middle East & Africa
Table of Contents
1.Introduction
- 1.1.Report Description
- 1.1.1.Objectives of the Study
- 1.1.2.Market Scope
- 1.1.3.Assumptions
- 1.2.Stakeholders
2.Executive Summary
3.Research Methodology
- 3.1.Overview
- 3.2.Data Sources
- 3.2.1.Primary Sources
- 3.2.2.Secondary Sources
4.Global Chillers Market Insights
- 4.1.Chillers Market - Compressor Type Snapshot
- 4.2.Chillers Market Dynamics
- 4.2.1.Drivers and Opportunities
- 4.2.1.1.Growing adoption of absorption chillers
- 4.2.1.2.Rise in residential and commercial buildings
- 4.2.2.Restraints and Challenges
- 4.2.2.1.Regulations penetrating to fluorinated greenhouse gases
- 4.3.Porter's Five Forces Analysis
- 4.3.1.Bargaining Power of Suppliers (Moderate)
- 4.3.2.Threats of New Entrants: (Low)
- 4.3.3.Bargaining Power of Buyers (Moderate)
- 4.3.4.Threat of Substitute (Moderate)
- 4.3.5.Rivalry among existing firms (High)
- 4.4.PESTEL Analysis
- 4.5.Chillers Market Compressor Type Trends
- 4.6.Value Chain Analysis
- 4.7.COVID-19 Impact Analysis
5.Global Chillers Market, by Product
- 5.1.Key Findings
- 5.2.Introduction
- 5.2.1.Global Chillers Market, by Product, 2019-2032 (USD Billion)
- 5.3.Water-Cooled
- 5.3.1.Global Chillers Market, by Water-Cooled, by Region, 2019-2032 (USD Billion)
- 5.3.2.<50kW
- 5.3.2.1.Global Chillers Market, by <50kW, by Region, 2019-2032 (USD Billion)
- 5.3.3.51-100kW
- 5.3.3.1.Global Chillers Market, by 51-100kW, by Region, 2019-2032 (USD Billion)
- 5.3.4.101-500kW
- 5.3.4.1.Global Chillers Market, by 101-500kW, by Region, 2019-2032 (USD Billion)
- 5.3.5.501-1000kW
- 5.3.5.1.Global Chillers Market, by 501-1000kW, by Region, 2019-2032 (USD Billion)
- 5.3.6.1001-1500kW
- 5.3.6.1.Global Chillers Market, by 1001-1500kW, by Region, 2019-2032 (USD Billion)
- 5.3.7.>1501kW
- 5.3.7.1.Global Chillers Market, by >1501kW, by Region, 2019-2032 (USD Billion)
- 5.4.Air -Cooled
- 5.4.1.Global Chillers Market, by Air -Cooled, by Region, 2019-2032 (USD Billion)
- 5.4.2.<50kW
- 5.4.2.1.Global Chillers Market, by <50kW, by Region, 2019-2032 (USD Billion)
- 5.4.3.51-100kW
- 5.4.3.1.Global Chillers Market, by 51-100kW, by Region, 2019-2032 (USD Billion)
- 5.4.4.101-500kW
- 5.4.4.1.Global Chillers Market, by 101-500kW, by Region, 2019-2032 (USD Billion)
- 5.4.5.501-1000kW
- 5.4.5.1.Global Chillers Market, by 501-1000kW, by Region, 2019-2032 (USD Billion)
- 5.4.6.1001-1500kW
- 5.4.6.1.Global Chillers Market, by 1001-1500kW, by Region, 2019-2032 (USD Billion)
- 5.4.7.>1501kW
- 5.4.7.1.Global Chillers Market, by >1501kW, by Region, 2019-2032 (USD Billion)
6.Global Chillers Market, by Application
- 6.1.Key Findings
- 6.2.Introduction
- 6.2.1.Global Chillers Market, by Application, 2019-2032 (USD Billion)
- 6.3.Commercial
- 6.3.1.Global Chillers Market, by Commercial, by Region, 2019-2032 (USD Billion)
- 6.3.2.Corporate Offices
- 6.3.2.1.Global Chillers Market, by Corporate Offices, by Region, 2019-2032 (USD Billion)
- 6.3.3.Data Centers
- 6.3.3.1.Global Chillers Market, by Data Centers, by Region, 2019-2032 (USD Billion)
- 6.3.4.Public Buildings
- 6.3.4.1.Global Chillers Market, by Public Buildings, by Region, 2019-2032 (USD Billion)
- 6.3.5.Mercantile & Service
- 6.3.5.1.Global Chillers Market, by Mercantile & Service, by Region, 2019-2032 (USD Billion)
- 6.3.6.Healthcare
- 6.3.6.1.Global Chillers Market, by Healthcare, by Region, 2019-2032 (USD Billion)
- 6.3.7.Others
- 6.3.7.1.Global Chillers Market, by Others, by Region, 2019-2032 (USD Billion)
- 6.4.Industrial
- 6.4.1.Global Chillers Market, by Industrial, by Region, 2019-2032 (USD Billion)
- 6.4.2.Chemicals & Pharmaceuticals
- 6.4.2.1.Global Chillers Market, by Chemicals & Pharmaceuticals, by Region, 2019-2032 (USD Billion)
- 6.4.3.Food & Beverage
- 6.4.3.1.Global Chillers Market, by Food & Beverage, by Region, 2019-2032 (USD Billion)
- 6.4.4.Metal Manufacturing & Machining
- 6.4.4.1.Global Chillers Market, by Metal Manufacturing & Machining, by Region, 2019-2032 (USD Billion)
- 6.4.5.Medical & Pharmaceutical
- 6.4.5.1.Global Chillers Market, by Medical & Pharmaceutical, by Region, 2019-2032 (USD Billion)
- 6.4.6.Plastics
- 6.4.6.1.Global Chillers Market, by Plastics, by Region, 2019-2032 (USD Billion)
- 6.4.7.Others
- 6.4.7.1.Global Chillers Market, by Others, by Region, 2019-2032 (USD Billion)
- 6.5.Residential
- 6.5.1.Global Chillers Market, by Residential, by Region, 2019-2032 (USD Billion)
7.Global Chillers Market, by Compressor Type
- 7.1.Key Findings
- 7.2.Introduction
- 7.2.1.Global Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 7.3.Screw Chillers
- 7.3.1.Global Chillers Market, by Screw Chillers, By Region, 2019-2032 (USD Billion)
- 7.4.Centrifugal Chillers
- 7.4.1.Global Chillers Market, by Centrifugal Chillers, By Region, 2019-2032 (USD Billion)
- 7.5.Absorption Chillers
- 7.5.1.Global Chillers Market, by Absorption Chillers, By Region, 2019-2032 (USD Billion)
- 7.6.Scroll Chillers
- 7.6.1.Global Chillers Market, by Scroll Chillers, By Region, 2019-2032 (USD Billion)
- 7.7.Reciprocating Chillers
- 7.7.1.Global Chillers Market, by Reciprocating Chillers, By Region, 2019-2032 (USD Billion)
8.Global Chillers Market, by Geography
- 8.1.Key findings
- 8.2.Introduction
- 8.2.1.Chillers Market Assessment, By Geography, 2019-2032 (USD Billion)
- 8.3.Chillers Market - North America
- 8.3.1.North America: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.3.2.North America: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.3.3.North America: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.3.4.Chillers Market - U.S.
- 8.3.4.1.U.S.: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.3.4.2.U.S.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.3.4.3.U.S.: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.3.5.Chillers Market - Canada
- 8.3.5.1.Canada: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.3.5.2.Canada.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.3.5.3.Canada: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.4.Chillers Market - Europe
- 8.4.1.Europe: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.4.2.Europe.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.4.3.Europe: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.4.4.Chillers Market - UK
- 8.4.4.1.UK: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.4.4.2.UK.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.4.4.3.UK: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.4.5.Chillers Market - France
- 8.4.5.1.France: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.4.5.2.France.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.4.5.3.France: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.4.6.Chillers Market - Germany
- 8.4.6.1.Germany: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.4.6.2.Germany.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.4.6.3.Germany: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.4.7.Chillers Market - Italy
- 8.4.7.1.Italy: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.4.7.2.Italy.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.4.7.3.Italy: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.4.8.Chillers Market - Spain
- 8.4.8.1.Spain: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.4.8.2.Spain.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.4.8.3.Spain: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.4.9.Chillers Market - Netherlands
- 8.4.9.1.Netherlands: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.4.9.2.Netherlands.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.4.9.3.Netherlands: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.4.10.Chillers Market - Russia
- 8.4.10.1.Russia: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.4.10.2.Russia.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.4.10.3.Russia: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.5.Chillers Market - Asia Pacific
- 8.5.1.Asia Pacific: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.5.2.Asia Pacific.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.5.3.Asia Pacific: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.5.4.Chillers Market - China
- 8.5.4.1.China: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.5.4.2.China.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.5.4.3.China: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.5.5.Chillers Market - India
- 8.5.5.1.India: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.5.5.2.India.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.5.5.3.India: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.5.6.Chillers Market - Malaysia
- 8.5.6.1.Malaysia: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.5.6.2.Malaysia.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.5.6.3.Malaysia: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.5.7.Chillers Market - Japan
- 8.5.7.1.Japan: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.5.7.2.Japan.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.5.7.3.Japan: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.5.8.Chillers Market - Indonesia
- 8.5.8.1.Indonesia: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.5.8.2.Indonesia.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.5.8.3.Indonesia: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.5.9.Chillers Market - South Korea
- 8.5.9.1.South Korea: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.5.9.2.South Korea.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.5.9.3.South Korea: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.6.Chillers Market - Middle East & Africa
- 8.6.1.Middle East & Africa: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.6.2.Middle East & Africa.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.6.3.Middle East & Africa: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.6.4.Chillers Market - Saudi Arabia
- 8.6.4.1.Saudi Arabia: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.6.4.2.Saudi Arabia.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.6.4.3.Saudi Arabia: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.6.5.Chillers Market - UAE
- 8.6.5.1.UAE: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.6.5.2.UAE.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.6.5.3.UAE: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.6.6.Chillers Market - Israel
- 8.6.6.1.Israel: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.6.6.2.Israel.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.6.6.3.Israel: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.6.7.Chillers Market - South Africa
- 8.6.7.1.South Africa: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.6.7.2.South Africa.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.6.7.3.South Africa: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.7.Chillers Market - Latin America
- 8.7.1.Latin America: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.7.2.Latin America.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.7.3.Latin America: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.7.4.Chillers Market - Mexico
- 8.7.4.1.Mexico: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.7.4.2.Mexico.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.7.4.3.Mexico: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.7.5.Chillers Market - Brazil
- 8.7.5.1.Brazil: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.7.5.2.Brazil.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.7.5.3.Brazil: Chillers Market, by Application, 2019-2032 (USD Billion)
- 8.7.6.Chillers Market - Argentina
- 8.7.6.1.Argentina: Chillers Market, by Product, 2019-2032 (USD Billion)
- 8.7.6.2.Argentina.: Chillers Market, by Compressor Type, 2019-2032 (USD Billion)
- 8.7.6.3.Argentina: Chillers Market, by Application, 2019-2032 (USD Billion)
9.Competitive Landscape
- 9.1.Expansion and Acquisition Analysis
- 9.1.1.Expansion
- 9.1.2.Acquisitions
- 9.2.Partnerships/Collaborations/Agreements/Exhibitions
10.Company Profiles
- 10.1.Carrier Corporation (US)
- 10.1.1.Company Overview
- 10.1.2.Financial Performance
- 10.1.3.Product Benchmarking
- 10.1.4.Recent Development
- 10.2.Daikin Industries (Japan)
- 10.2.1.Company Overview
- 10.2.2.Financial Performance
- 10.2.3.Product Benchmarking
- 10.2.4.Recent Development
- 10.3.Friulair S.R.L (Italy)
- 10.3.1.Company Overview
- 10.3.2.Financial Performance
- 10.3.3.Product Benchmarking
- 10.3.4.Recent Development
- 10.4.HYDAC International (Germany)
- 10.4.1.Company Overview
- 10.4.2.Financial Performance
- 10.4.3.Product Benchmarking
- 10.4.4.Recent Development
- 10.5.Johnson Controls- Hitachi Air Conditioning (Japan)
- 10.5.1.Company Overview
- 10.5.2.Financial Performance
- 10.5.3.Product Benchmarking
- 10.5.4.Recent Development
- 10.6.KKT Chillers (Germany)
- 10.6.1.Company Overview
- 10.6.2.Financial Performance
- 10.6.3.Product Benchmarking
- 10.6.4.Recent Development
- 10.7.Mitsubishi Electric Corporation (Japan)
- 10.7.1.Company Overview
- 10.7.2.Financial Performance
- 10.7.3.Product Benchmarking
- 10.7.4.Recent Development
- 10.8.MTA S.P.A (Italy)
- 10.8.1.Company Overview
- 10.8.2.Financial Performance
- 10.8.3.Product Benchmarking
- 10.8.4.Recent Development
- 10.9.Reynold India Pvt. Ltd (India)
- 10.9.1.Company Overview
- 10.9.2.Financial Performance
- 10.9.3.Product Benchmarking
- 10.9.4.Recent Development
- 10.10.Smardt Chiller Group Inc. (Canada)
- 10.10.1.Company Overview
- 10.10.2.Financial Performance
- 10.10.3.Product Benchmarking
- 10.10.4.Recent Development
- 10.11.Trane Technology (Ireland)
- 10.11.1.Company Overview
- 10.11.2.Financial Performance
- 10.11.3.Product Benchmarking
- 10.11.4.Recent Development