The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The rise in new commercial construction buildings are expected to drive innovation in chillers manufacturing, thus driving the market during the forecast period.

The global chillers market is expected to grow from $8.72 billion in 2022 to $9.01 billion in 2023 at a compound annual growth rate (CAGR) of 3.3%. The chillers market size is expected to grow to $10.88 billion in 2027 at a CAGR of 4.8%.

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Global Chillers Market Segments Include:

• By Product Type: Air Cooled Chiller, Water Cooled Chiller
• By Power Range: Less than 50 kW, 50-200 kW, More than 200 kW
• By Compressor Type: Screw Chillers, Centrifugal Chillers, Absorption Chillers, Reciprocating Chillers
• By End User: Commercial, Industrial, Residential
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global chillers market in 2021.

Major Market Players in the chillers market include Carrier Corporation, Daikin Industries, Trane Technologies PLC., Hitachi Air Conditioning Company, Johnson Controls International PLC, Thermax Limited.

Strategic collaboration between companies is a key trend gaining popularity in the chillers market. Companies manufacturing or supplying chillers are undergoing various collaborations to develop new technologies and productsFor instance, in March 2020, Vertiv, a US-based company operating in designing, building, and servicing critical infrastructure, signed a partnership with Geoclima, an Italy-based highly efficient and customizable chillers manufacturer, to provide high energy efficiency solutions for data center operations to gain the competitive advantage in the chiller market.

The Chillers Global Market Report 2023  provides a chillers market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The chillers market forecast analyzes chillers market size, chillers market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The chillers are used for controlled cooling. Chillers are defined as refrigeration system that is used to lower the temperatures of process fluids, machinery, and others by removing heat from them and transferring it to other spaces. Chillers are mainly essential for regulating and maintaining the temperatures in various industries.

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