Chillers Market

The chillers market is projected to reach USD 15.42 billion by 2029, at a CAGR of 5.0% from USD 12.08 billion in 2024. Chillers market is growing rapidly, because of the ever-growing need for efficient cooling across all industries such as HVAC, chemicals, food & beverage, and data center, while rapid urbanization and growth in infrastructure for building construction along with malls, hospitals, and offices are giving it the boost. Also, with ever-growing environmental concerns and the emergence of more stringent regulations and legislation, it becomes pertinent that companies focus on the usage of low-GWP refrigerant chillers and become as eco-friendly as possible. Technological advancements, such as smart control systems and variable speed drives, enhance chiller performance, thereby increasing their attractiveness. Industrialization in emerging economies also adds to the growing market demand for chillers.

The key global players in the chillers market are DAIKIN INDUSTRIES, Ltd. (Japan), Trane Technologies plc (Ireland), Carrier (US), Johnson Controls Inc. (Ireland), Mitsubishi Electric Corporation (Japan), Smardt Chiller Group, Inc. (Canada), Drake Refrigeration Inc. (US), PolyScience (US), LG Electronics (South Korea), Dimplex Thermal Solutions (US), and Thermax Limited (India) among others. These companies are strong in their home regions and explore geographic diversification alternatives to grow their businesses. They focus on increasing their market shares through new product launches and other expansions.

DAIKIN INDUSTRIES, Ltd.

DAIKIN INDUSTRIES, Ltd. is one of the leading players in air-conditioning and fluorochemicals businesses. It manufactures general air conditioning equipment with in-house divisions covering air conditioning and refrigerants. The company mainly operates through four business segments: air conditioning, chemicals, oil hydraulics, and defense systems. It provides chillers through its air-conditioning business segment. This includes HVAC products such as air-to-water heat pumps, medium and low temperature refrigeration systems, and air coolers. Additionally, there are unitary air conditioners, ventilation products, control systems, water cooled chillers, air cooled chillers, marine HVAC, and split/multi-split air conditioners. The geographical areas served by the company include Asia Pacific, the Americas, the Middle East & Africa, and Europe. It has a total of 349 consolidated subsidiaries across the globe. This firm has spread its business activities into more than 170 countries; however, it has 125 manufacturing bases worldwide.

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Trane Technologies plc

Trane Technologies plc is one of the leading manufacturers of heating, ventilation, and air conditioning (HVAC) systems or controls for the commercial, residential, and industrial HVACR market. It offers chillers through the brand name Trane. The company operates through two segments, aftermarket and equipment. It offers chillers under the equipment segment. The company provides water-cooled, air-cooled, centrifugal water- cooled, scroll air-cooled, and cold generator scroll chillers. The chillers are sold under Ascend, Sintesis, Thermafit, CenTraVac, and Agility brands and in capacities covering a range of end-use applications. Its products are marketed in over 100 countries worldwide. It is operational in Europe, the Americas, Asia Pacific, and the Middle East & Africa regions.

Related Reports:

Chillers Market by Type (Screw, Scroll, Centrifugal, Absorption, Reciprocating), Medium (Air Cooled, Water Cooled, Liquid Coolant), Capacity, End-Use Industry (Plastic, FnB, Chemical & Petrochemical, Medical and Pharmaceuticals) - Global Forecast to 2029

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