Chiller Unit Market size was valued at USD 8.5 Billion in 2024 and is forecasted to grow at a CAGR of 5.2% from 2026 to 2033, reaching USD 12.3 Billion by 2033.
The global chiller unit market was valued at approximately USD 9.5 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 6.2% from 2023 to 2030. The markets growth is primarily driven by rising demand across industrial, commercial, and residential sectors, where energy efficient cooling systems are increasingly being adopted. North America holds a significant market share, accounting for about 30% of the global market in 2022, driven by the regions advanced infrastructure and growing adoption of sustainable building technologies. Europe also holds a considerable share, with countries like Germany and France driving growth, supported by stringent environmental regulations and a high demand for energy efficient solutions. In the Asia Pacific region, the market is expected to witness the highest growth rate over the forecast period, with a CAGR of 7.4%, as emerging economies like China, India, and Japan invest heavily in industrial and commercial sectors. The demand for chiller units in these countries is fueled by rapid urbanization, industrialization, and a growing awareness of energy efficient cooling solutions. The Middle East and Africa are also seeing growth, particularly due to the expansion of the construction and hospitality industries. Latin America is expected to experience moderate growth, with a focus on sustainability and energy efficiency in building infrastructure driving the demand for advanced chiller units.
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Trane
Johnson Controls - Hitachi
Carrier
Mitsubshi
LG Electronics
Daikin
DunAn
Dunham-Bush
TICA
Bosch
Ebara
Parker Hannifin
Dimplex Thermal Solutions
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By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Chiller Unit Market
Commercial
Industrial
Residential
Healthcare
Pharmaceutical
Chilled Water Units
Direct Expansion Units
Air-Cooled Chillers
Water-Cooled Chillers
Small Capacity (Up to 10 tons)
Medium Capacity (10 to 50 tons)
Large Capacity (Above 50 tons)
Cooling for Manufacturing Processes
HVAC Systems
Refrigeration
Data Center Cooling
Air-cooled Technology
Water-cooled Technology
Evaporative Cooling Technology
Magnetic Bearing Technology
US (United States, US and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Chiller Unit Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Chiller Unit Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Chiller Unit Market, By Type
6. Global Chiller Unit Market, By Application
7. Global Chiller Unit Market, By Geography
US
Europe
Asia Pacific
Rest of the World
8. Global Chiller Unit Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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