chiller market
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2
Chiller Market To Generate 
$10,880.3 Million Revenue in 
2030
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A number of factors, such as the growing focus on environmental sustainability, rising global temperature, expanding 
construction industry, increasing spending on infrastructure development, rising need for cooling systems in industrial units, 
and surging industrialization rate, are projected to boost the growth of the chiller market at a CAGR of 5.0% in the forecast 
period (2020–2030). At this growth rate, the market size is expected to reach $10,880.3 million by 2030 from $7,330.7 
million in 2019. 
 
The primary factor improving the chiller market growth prospects is the expanding construction industry. Due to the 
increasing number of construction projects, such as office premises, airports, metro networks, and residential buildings, the 
construction market is expected to reach $12.8 trillion, globally, by 2022 from $10.5 trillion in 2017. For example, London had 
115 high-rise buildings under construction in 2018. Similarly, by 2025, China will construct 136 airports. Thus, with the 
increasing construction activities, the demand for chillers is surging, as these are widely used in all such spaces.
 
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Another key driver is the increasing global temperature. On burning fossil fuels, greenhouse gases (GHG), like methane, 
carbon dioxide, and nitrous oxides, are released in high amounts, which leads to the absorption of infrared (IR) radiation by 
the atmosphere, in turn, increasing the temperature of the earth. In 2019, the global temperature was 1.1 °C higher than the 
average temperature during 1850–1900, as per the World Health Organization (WHO). The rising temperature results in the 
rapid deployment of chillers in the industrial, commercial, and residential sectors, across the globe.
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The type segment of the chiller market is classified into scroll, screw, absorption, centrifugal, and reciprocating. Among 
these, the scroll category accounted for the largest share in 2019 in the market. This is attributed to the increasing 
requirement for low-cooling-capacity chillers in hospitality units and office buildings across the world. The centrifugal category 
is projected to record the fastest growth during the foreseeable period owing to the increasing demand for centrifugal chillers 
in several industries due to their cost-effectiveness. 
 
Additionally, the chiller market is categorized into industrial, commercial, and residential, based on end user. Out of these, 
the residential category is expected to record the fastest growth during the forecast period. This can be ascribed to the 
increasing urbanization rate and surging popularity of the district cooling method in urban areas. The industrial category 
accounted for the largest market share in 2019 due to the rising need to replace outdated chillers with new ones, to increase 
operational efficiency and protect the environment, and the growing food and beverages sector.
 
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According to P&S Intelligence, the Asia-Pacific (APAC) region accounted for the largest share in the chiller market in 2019, 
globally, and it is expected to witness the same trend in the coming years. This is attributed to the growing construction 
industry, expanding information technology (IT) sector, and surging number of data centers in the region. Among APAC 
countries, China leads the regional market due to the increasing number of construction projects, especially in Shanghai and 
Wuhan, such as rail networks, office complexes, and airports. 
 
Thus, the growing construction industry and the increasing temperature across the globe are expected to propel the market 
during the forecast period.
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Market Segmentation
• Market Segmentation by Type  Reciprocating
 oScrew Water-cooled
o oWater-cooled Air-cooled
o Air-cooled • Market Segmentation by Capacity
 Scroll  Water-cooled
o Water-cooled o Less than 500 T
o Air-cooled o 500 T–1,000 T
 oCentrifugal 1,001 T–2,000 T
o oWater-cooled Above 2,000 T
o Air-cooled  Air-cooled
 oAbsorption Less than 150 T
o oDirect-fired 150 T–300 T
o oHot-water 301 T–500 T
o Steam o Above 500 T
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Market Segmentation
• Market Segmentation by End-User  Residential
 Commercial • Market Segmentation by Region
o Hospitality   
o Transportation o North America Chiller Market By type
o Offices and buildings o By capacity
o Healthcare o By end-user
o Supermarkets/Hypermarkets o By country (U.S. and Canada)
o Government
 Europe Chiller Market
o Others (data centers, banks, department stores, and 
o By type
convenience stores)
o By capacity
 Industrial
o By end-user
o Oil and gas
o By country (U.K., Germany, Italy, France, Spain, Turkey, 
o Food and beverage Russia, and Rest of Europe)
o Energy and utilities
o Pharmaceutical
o Automotive
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Market Segmentation
 Asia-Pacific (APAC) Chiller Market  Middle East and Africa (MEA) Chiller Market
o By type o By type
o By capacity o By capacity
o By end-user o By end-user
o By country (China, Japan, India, South Korea, Indonesia, o By country (Saudi Arabia, U.A.E, Egypt, Israel, Nigeria, 
Thailand, Malaysia, Sri Lanka, Bangladesh, Bhutan, and Oman and Bahrain, South Africa, Kuwait, Qatar, Ivory 
Rest of APAC) Coast, Kenya, Uganda, Tanzania, and Rest of MEA)
 Latin America (LATAM) Chiller Market
o By type
o By capacity
o By end-user
o By country (Brazil, Mexico, Argentina, and Rest of 
LATAM)
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