Global Water Chillers Market Size, Share & Industry Trends Analysis Report By Industry, By Capacity (>700 kW, 351-700 kW, 101-350 kW, and 0-100 kW), By System (Continuous Flow, and Water Accumulation), By Type, By Regional Outlook and Forecast, 2023 - 20

Global Water Chillers Market Size, Share & Industry Trends Analysis Report By Industry, By Capacity (>700 kW, 351-700 kW, 101-350 kW, and 0-100 kW), By System (Continuous Flow, and Water Accumulation), By Type, By Regional Outlook and Forecast, 2023 - 2029


The Global Water Chillers Market size is expected to reach $7.9 billion by 2029, rising at a market growth of 3.2% CAGR during the forecast period.

Reciprocating chiller adoption is growing, and it is the most widely used kind of water chiller. The evaporator and condenser coils are filled with refrigerant using a piston-style compressor. Following further compression, the refrigerant is sent back to the condenser. As long as the target temperature is not attained, this procedure continues. Reciprocating chillers are more affordable than various kinds of chillers. Therefore, Reciprocating chillers attained $342.3 million revenue in the market in 2022. Some of the factors impacting the market are rising urbanization and cooling requirements worldwide, durability and improved efficiency in terms of energy consumption, and high cost of installation and maintenance.

The demand is predicted to expand quickly because of the rise in the number of commercial buildings like hotels, offices, airports, schools, and hospitals. Because of its increased efficiency and longer lifespan, a water chiller system can benefit by lowering energy and maintenance expenses. As more hospitals, clinics, colleges, and schools worldwide increase, the demand for cooling will rise further. Compared to other cooling systems and devices, water-cooled air chillers frequently use less energy. The ambient dry-bulb temperature controls the refrigerant's temperature condensing in an air-cooled water chiller. In a water-cooled chiller, the condenser water temperature, determined by the outside wet bulb temperature, determines the condensing temperature.

However, a significant barrier is, however, the increased price of water chillers. Since cooling towers, as well as condenser water pumps, are not required as part of the construction of air chillers, they are less expensive than water chillers. Additionally, in humid situations, water chillers perform worse than air chillers. This is because humidity raises the wet-bulb temperature, a measurement of how effectively water absorbs heat. Hence, all these factors limit the expansion of the market.

Industry Outlook

On the basis of end-user industry, the market is classified into chemicals & petrochemicals, food & beverages, plastics & rubber, medical, and others. The food and beverages segment witnessed a significant revenue share in the market in 2022. The food & beverage industry's explosive growth is responsible for the segment's increasing growth. The use of water chillers is increasing rapidly in order to maintain the working environment of factories, which is another important reason. Various market participants in the food & beverage industry use industrial air chillers to safeguard food and beverage goods against contamination.

Capacity Outlook

By capacity, the market is divided into 0-100 kW, 101-350 kW, 351-700 kW, and >700 kW. The >700 kW segment garnered the maximum revenue share in the market in 2022. In order to accelerate the growth of the segment, major firms are creating cutting-edge, low-energy chillers. Large-capacity water chillers often incorporate advanced technologies and design features that optimize energy efficiency. As a result, they can achieve higher Coefficient of Performance (COP) values, providing greater cooling output per unit of energy consumed. This efficiency can lead to cost savings in energy bills and reduced environmental impact.

System Outlook

Based on the system, the market is segmented into water accumulation and continuous flow. The water accumulation segment recorded a substantial revenue share in the market in 2022. Water accumulation systems reduce the frequency of chiller cycling, which helps extend the lifespan of the chiller equipment. Cycling refers to the repetitive start-stop operation of the chiller unit. By storing and utilizing chilled water from the accumulation system, the chiller can operate for longer durations, reducing wear and tear on the equipment and minimizing maintenance requirements. They help lower greenhouse gas emissions associated with electricity generation, reduce strain on the electrical grid, and promote more efficient use of resources.

Type Outlook

Based on type, the market is characterized into absorption chiller, reciprocating chiller, screw chiller, scroll chiller, centrifugal chiller, and others. The screw chiller segment garnered the highest revenue share in the market in 2022. When conducting the vapor-compression refrigeration process, a screw chiller uses two rotating helical screws. Screw chillers are less bulky, quieter, and equipped with fewer parts than other chillers; as a result, their market is expanding at an accelerated rate. For both industrial processes and cooling systems, screw chillers provide cooling solutions. The cooling capacity of the screw chillers ranges from 20 tons to up to 1,000 tons, and they are lightweight and small.

Regional Outlook

Region wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment witnessed the largest revenue share in the market in 2022. Rapid urbanization, strong economic growth, and a sizable population base all play a vital role in the market expansion in the Asia Pacific region. In addition, a rise in construction and maintenance activity in developing nations like India, Vietnam, China, and Indonesia is a major driver of the need for water chillers.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carrier Global Corporation, Mitsubishi Electric Corporation, Daikin Industries, Ltd., Dimplex Thermal Solutions, Inc. (Glen Dimplex Ireland), LG Electronics (LG Corporation), Johnson Controls International PLC, Gree Electric Appliances, Inc. of Zhuhai, Thermax Limited, Midea Group Co., Ltd., and Trane Technologies PLC.

Scope of the Study

Market Segments covered in the Report:

By Industry
  • Chemicals & Petrochemicals
  • Food & Beverages
  • Medical
  • Plastics & Rubber
  • Others
By Capacity
  • >700 kW
  • 351-700 kW
  • 101-350 kW
  • 0-100 kW
By System
  • Continuous Flow
  • Water Accumulation
By Type
  • Screw Chiller
  • Scroll Chiller
  • Centrifugal Chiller
  • Absorption Chiller
  • Reciprocating Chiller
  • Others
By Geography
  • North America
  • US
  • Canada
  • Mexico
  • Rest of North America
  • Europe
  • Germany
  • UK
  • France
  • Russia
  • Spain
  • Italy
  • Rest of Europe
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Singapore
  • Malaysia
  • Rest of Asia Pacific
  • LAMEA
  • Brazil
  • Argentina
  • UAE
  • Saudi Arabia
  • South Africa
  • Nigeria
  • Rest of LAMEA
Companies Profiled
  • Carrier Global Corporation
  • Mitsubishi Electric Corporation
  • Daikin Industries, Ltd.
  • Dimplex Thermal Solutions, Inc. (Glen Dimplex Ireland)
  • LG Electronics (LG Corporation)
  • Johnson Controls International PLC
  • Gree Electric Appliances, Inc. of Zhuhai
  • Thermax Limited
  • Midea Group Co., Ltd.
  • Trane Technologies PLC
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Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Global Water Chillers Market, by Industry
1.4.2 Global Water Chillers Market, by Capacity
1.4.3 Global Water Chillers Market, by System
1.4.4 Global Water Chillers Market, by Type
1.4.5 Global Water Chillers Market, by Geography
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Global Water Chillers Market by Industry
3.1 Global Chemicals & Petrochemicals Market by Region
3.2 Global Food & Beverages Market by Region
3.3 Global Medical Market by Region
3.4 Global Plastics & Rubber Market by Region
3.5 Global Others Market by Region
Chapter 4. Global Water Chillers Market by Capacity
4.1 Global >700 kW Market by Region
4.2 Global 351-700 kW Market by Region
4.3 Global 101-350 kW Market by Region
4.4 Global 0-100 kW Market by Region
Chapter 5. Global Water Chillers Market by System
5.1 Global Continuous Flow Market by Region
5.2 Global Water Accumulation Market by Region
Chapter 6. Global Water Chillers Market by Type
6.1 Global Screw Chiller Market by Region
6.2 Global Scroll Chiller Market by Region
6.3 Global Centrifugal Chiller Market by Region
6.4 Global Absorption Chiller Market by Region
6.5 Global Reciprocating Chiller Market by Region
6.6 Global Others Market by Region
Chapter 7. Global Water Chillers Market by Region
7.1 North America Water Chillers Market
7.1.1 North America Water Chillers Market by Industry
7.1.1.1 North America Chemicals & Petrochemicals Market by Country
7.1.1.2 North America Food & Beverages Market by Country
7.1.1.3 North America Medical Market by Country
7.1.1.4 North America Plastics & Rubber Market by Country
7.1.1.5 North America Others Market by Country
7.1.2 North America Water Chillers Market by Capacity
7.1.2.1 North America >700 kW Market by Country
7.1.2.2 North America 351-700 kW Market by Country
7.1.2.3 North America 101-350 kW Market by Country
7.1.2.4 North America 0-100 kW Market by Country
7.1.3 North America Water Chillers Market by System
7.1.3.1 North America Continuous Flow Market by Country
7.1.3.2 North America Water Accumulation Market by Country
7.1.4 North America Water Chillers Market by Type
7.1.4.1 North America Screw Chiller Market by Country
7.1.4.2 North America Scroll Chiller Market by Country
7.1.4.3 North America Centrifugal Chiller Market by Country
7.1.4.4 North America Absorption Chiller Market by Country
7.1.4.5 North America Reciprocating Chiller Market by Country
7.1.4.6 North America Others Market by Country
7.1.5 North America Water Chillers Market by Country
7.1.5.1 US Water Chillers Market
7.1.5.1.1 US Water Chillers Market by Industry
7.1.5.1.2 US Water Chillers Market by Capacity
7.1.5.1.3 US Water Chillers Market by System
7.1.5.1.4 US Water Chillers Market by Type
7.1.5.2 Canada Water Chillers Market
7.1.5.2.1 Canada Water Chillers Market by Industry
7.1.5.2.2 Canada Water Chillers Market by Capacity
7.1.5.2.3 Canada Water Chillers Market by System
7.1.5.2.4 Canada Water Chillers Market by Type
7.1.5.3 Mexico Water Chillers Market
7.1.5.3.1 Mexico Water Chillers Market by Industry
7.1.5.3.2 Mexico Water Chillers Market by Capacity
7.1.5.3.3 Mexico Water Chillers Market by System
7.1.5.3.4 Mexico Water Chillers Market by Type
7.1.5.4 Rest of North America Water Chillers Market
7.1.5.4.1 Rest of North America Water Chillers Market by Industry
7.1.5.4.2 Rest of North America Water Chillers Market by Capacity
7.1.5.4.3 Rest of North America Water Chillers Market by System
7.1.5.4.4 Rest of North America Water Chillers Market by Type
7.2 Europe Water Chillers Market
7.2.1 Europe Water Chillers Market by Industry
7.2.1.1 Europe Chemicals & Petrochemicals Market by Country
7.2.1.2 Europe Food & Beverages Market by Country
7.2.1.3 Europe Medical Market by Country
7.2.1.4 Europe Plastics & Rubber Market by Country
7.2.1.5 Europe Others Market by Country
7.2.2 Europe Water Chillers Market by Capacity
7.2.2.1 Europe >700 kW Market by Country
7.2.2.2 Europe 351-700 kW Market by Country
7.2.2.3 Europe 101-350 kW Market by Country
7.2.2.4 Europe 0-100 kW Market by Country
7.2.3 Europe Water Chillers Market by System
7.2.3.1 Europe Continuous Flow Market by Country
7.2.3.2 Europe Water Accumulation Market by Country
7.2.4 Europe Water Chillers Market by Type
7.2.4.1 Europe Screw Chiller Market by Country
7.2.4.2 Europe Scroll Chiller Market by Country
7.2.4.3 Europe Centrifugal Chiller Market by Country
7.2.4.4 Europe Absorption Chiller Market by Country
7.2.4.5 Europe Reciprocating Chiller Market by Country
7.2.4.6 Europe Others Market by Country
7.2.5 Europe Water Chillers Market by Country
7.2.5.1 Germany Water Chillers Market
7.2.5.1.1 Germany Water Chillers Market by Industry
7.2.5.1.2 Germany Water Chillers Market by Capacity
7.2.5.1.3 Germany Water Chillers Market by System
7.2.5.1.4 Germany Water Chillers Market by Type
7.2.5.2 UK Water Chillers Market
7.2.5.2.1 UK Water Chillers Market by Industry
7.2.5.2.2 UK Water Chillers Market by Capacity
7.2.5.2.3 UK Water Chillers Market by System
7.2.5.2.4 UK Water Chillers Market by Type
7.2.5.3 France Water Chillers Market
7.2.5.3.1 France Water Chillers Market by Industry
7.2.5.3.2 France Water Chillers Market by Capacity
7.2.5.3.3 France Water Chillers Market by System
7.2.5.3.4 France Water Chillers Market by Type
7.2.5.4 Russia Water Chillers Market
7.2.5.4.1 Russia Water Chillers Market by Industry
7.2.5.4.2 Russia Water Chillers Market by Capacity
7.2.5.4.3 Russia Water Chillers Market by System
7.2.5.4.4 Russia Water Chillers Market by Type
7.2.5.5 Spain Water Chillers Market
7.2.5.5.1 Spain Water Chillers Market by Industry
7.2.5.5.2 Spain Water Chillers Market by Capacity
7.2.5.5.3 Spain Water Chillers Market by System
7.2.5.5.4 Spain Water Chillers Market by Type
7.2.5.6 Italy Water Chillers Market
7.2.5.6.1 Italy Water Chillers Market by Industry
7.2.5.6.2 Italy Water Chillers Market by Capacity
7.2.5.6.3 Italy Water Chillers Market by System
7.2.5.6.4 Italy Water Chillers Market by Type
7.2.5.7 Rest of Europe Water Chillers Market
7.2.5.7.1 Rest of Europe Water Chillers Market by Industry
7.2.5.7.2 Rest of Europe Water Chillers Market by Capacity
7.2.5.7.3 Rest of Europe Water Chillers Market by System
7.2.5.7.4 Rest of Europe Water Chillers Market by Type
7.3 Asia Pacific Water Chillers Market
7.3.1 Asia Pacific Water Chillers Market by Industry
7.3.1.1 Asia Pacific Chemicals & Petrochemicals Market by Country
7.3.1.2 Asia Pacific Food & Beverages Market by Country
7.3.1.3 Asia Pacific Medical Market by Country
7.3.1.4 Asia Pacific Plastics & Rubber Market by Country
7.3.1.5 Asia Pacific Others Market by Country
7.3.2 Asia Pacific Water Chillers Market by Capacity
7.3.2.1 Asia Pacific >700 kW Market by Country
7.3.2.2 Asia Pacific 351-700 kW Market by Country
7.3.2.3 Asia Pacific 101-350 kW Market by Country
7.3.2.4 Asia Pacific 0-100 kW Market by Country
7.3.3 Asia Pacific Water Chillers Market by System
7.3.3.1 Asia Pacific Continuous Flow Market by Country
7.3.3.2 Asia Pacific Water Accumulation Market by Country
7.3.4 Asia Pacific Water Chillers Market by Type
7.3.4.1 Asia Pacific Screw Chiller Market by Country
7.3.4.2 Asia Pacific Scroll Chiller Market by Country
7.3.4.3 Asia Pacific Centrifugal Chiller Market by Country
7.3.4.4 Asia Pacific Absorption Chiller Market by Country
7.3.4.5 Asia Pacific Reciprocating Chiller Market by Country
7.3.4.6 Asia Pacific Others Market by Country
7.3.5 Asia Pacific Water Chillers Market by Country
7.3.5.1 China Water Chillers Market
7.3.5.1.1 China Water Chillers Market by Industry
7.3.5.1.2 China Water Chillers Market by Capacity
7.3.5.1.3 China Water Chillers Market by System
7.3.5.1.4 China Water Chillers Market by Type
7.3.5.2 Japan Water Chillers Market
7.3.5.2.1 Japan Water Chillers Market by Industry
7.3.5.2.2 Japan Water Chillers Market by Capacity
7.3.5.2.3 Japan Water Chillers Market by System
7.3.5.2.4 Japan Water Chillers Market by Type
7.3.5.3 India Water Chillers Market
7.3.5.3.1 India Water Chillers Market by Industry
7.3.5.3.2 India Water Chillers Market by Capacity
7.3.5.3.3 India Water Chillers Market by System
7.3.5.3.4 India Water Chillers Market by Type
7.3.5.4 South Korea Water Chillers Market
7.3.5.4.1 South Korea Water Chillers Market by Industry
7.3.5.4.2 South Korea Water Chillers Market by Capacity
7.3.5.4.3 South Korea Water Chillers Market by System
7.3.5.4.4 South Korea Water Chillers Market by Type
7.3.5.5 Singapore Water Chillers Market
7.3.5.5.1 Singapore Water Chillers Market by Industry
7.3.5.5.2 Singapore Water Chillers Market by Capacity
7.3.5.5.3 Singapore Water Chillers Market by System
7.3.5.5.4 Singapore Water Chillers Market by Type
7.3.5.6 Malaysia Water Chillers Market
7.3.5.6.1 Malaysia Water Chillers Market by Industry
7.3.5.6.2 Malaysia Water Chillers Market by Capacity
7.3.5.6.3 Malaysia Water Chillers Market by System
7.3.5.6.4 Malaysia Water Chillers Market by Type
7.3.5.7 Rest of Asia Pacific Water Chillers Market
7.3.5.7.1 Rest of Asia Pacific Water Chillers Market by Industry
7.3.5.7.2 Rest of Asia Pacific Water Chillers Market by Capacity
7.3.5.7.3 Rest of Asia Pacific Water Chillers Market by System
7.3.5.7.4 Rest of Asia Pacific Water Chillers Market by Type
7.4 LAMEA Water Chillers Market
7.4.1 LAMEA Water Chillers Market by Industry
7.4.1.1 LAMEA Chemicals & Petrochemicals Market by Country
7.4.1.2 LAMEA Food & Beverages Market by Country
7.4.1.3 LAMEA Medical Market by Country
7.4.1.4 LAMEA Plastics & Rubber Market by Country
7.4.1.5 LAMEA Others Market by Country
7.4.2 LAMEA Water Chillers Market by Capacity
7.4.2.1 LAMEA >700 kW Market by Country
7.4.2.2 LAMEA 351-700 kW Market by Country
7.4.2.3 LAMEA 101-350 kW Market by Country
7.4.2.4 LAMEA 0-100 kW Market by Country
7.4.3 LAMEA Water Chillers Market by System
7.4.3.1 LAMEA Continuous Flow Market by Country
7.4.3.2 LAMEA Water Accumulation Market by Country
7.4.4 LAMEA Water Chillers Market by Type
7.4.4.1 LAMEA Screw Chiller Market by Country
7.4.4.2 LAMEA Scroll Chiller Market by Country
7.4.4.3 LAMEA Centrifugal Chiller Market by Country
7.4.4.4 LAMEA Absorption Chiller Market by Country
7.4.4.5 LAMEA Reciprocating Chiller Market by Country
7.4.4.6 LAMEA Others Market by Country
7.4.5 LAMEA Water Chillers Market by Country
7.4.5.1 Brazil Water Chillers Market
7.4.5.1.1 Brazil Water Chillers Market by Industry
7.4.5.1.2 Brazil Water Chillers Market by Capacity
7.4.5.1.3 Brazil Water Chillers Market by System
7.4.5.1.4 Brazil Water Chillers Market by Type
7.4.5.2 Argentina Water Chillers Market
7.4.5.2.1 Argentina Water Chillers Market by Industry
7.4.5.2.2 Argentina Water Chillers Market by Capacity
7.4.5.2.3 Argentina Water Chillers Market by System
7.4.5.2.4 Argentina Water Chillers Market by Type
7.4.5.3 UAE Water Chillers Market
7.4.5.3.1 UAE Water Chillers Market by Industry
7.4.5.3.2 UAE Water Chillers Market by Capacity
7.4.5.3.3 UAE Water Chillers Market by System
7.4.5.3.4 UAE Water Chillers Market by Type
7.4.5.4 Saudi Arabia Water Chillers Market
7.4.5.4.1 Saudi Arabia Water Chillers Market by Industry
7.4.5.4.2 Saudi Arabia Water Chillers Market by Capacity
7.4.5.4.3 Saudi Arabia Water Chillers Market by System
7.4.5.4.4 Saudi Arabia Water Chillers Market by Type
7.4.5.5 South Africa Water Chillers Market
7.4.5.5.1 South Africa Water Chillers Market by Industry
7.4.5.5.2 South Africa Water Chillers Market by Capacity
7.4.5.5.3 South Africa Water Chillers Market by System
7.4.5.5.4 South Africa Water Chillers Market by Type
7.4.5.6 Nigeria Water Chillers Market
7.4.5.6.1 Nigeria Water Chillers Market by Industry
7.4.5.6.2 Nigeria Water Chillers Market by Capacity
7.4.5.6.3 Nigeria Water Chillers Market by System
7.4.5.6.4 Nigeria Water Chillers Market by Type
7.4.5.7 Rest of LAMEA Water Chillers Market
7.4.5.7.1 Rest of LAMEA Water Chillers Market by Industry
7.4.5.7.2 Rest of LAMEA Water Chillers Market by Capacity
7.4.5.7.3 Rest of LAMEA Water Chillers Market by System
7.4.5.7.4 Rest of LAMEA Water Chillers Market by Type
Chapter 8. Company Profiles
8.1 LG Electronics (LG Corporation)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional & Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 SWOT Analysis
8.2 Carrier Global Corporation
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Product Launches and Product Expansions:
8.2.5.2 Acquisition and Mergers:
8.3 Thermax Limited
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.3.5 Recent strategies and developments:
8.3.5.1 Geographical Expansions:
8.4 Trane Technologies PLC
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Regional Analysis
8.4.4 Research & Development Expense
8.4.5 Recent strategies and developments:
8.4.5.1 Acquisition and Mergers:
8.5 Daikin Industries, Ltd.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional & Segmental Analysis
8.5.4 Research & Development Expenses
8.5.5 Recent strategies and developments:
8.5.5.1 Product Launches and Product Expansions:
8.6 Mitsubishi Electric Corporation
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental and Regional Analysis
8.6.4 Research & Development Expense
8.6.5 Recent strategies and developments:
8.6.5.1 Acquisition and Mergers:
8.7 Midea Group Co., Ltd.
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research and Development Expense
8.8 Johnson Controls International PLC
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental & Regional Analysis
8.8.4 Research & Development Expenses
8.9 Gree Electric Appliances, Inc. of Zhuhai
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Research & Development Expenses
8.10. Dimplex Thermal Solutions, Inc. (Glen Dimplex Ireland)
8.10.1 Company overview

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