Chillers Market (Type: Air-cooled Chiller and Water-cooled Chiller; Refrigeration Cycle: Vapor Absorption and Vapor Compression) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2031

Chillers Market (Type: Air-cooled Chiller and Water-cooled Chiller; Refrigeration Cycle: Vapor Absorption and Vapor Compression) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2023-2031


Chillers Market – Scope of Report


TMR’s report on the global Chillers market studies the past as well as the current growth trends and opportunities to gain valuable insights of the indicators of the market during the forecast period from 2023 to 2031. The report provides revenue of the global Chillers market for the period 2017–2031, considering 2023 as the base year and 2031 as the forecast year. The report also provides the compound annual growth rate (CAGR %) of the global Chillers market from 2023 to 2031.

The report has been prepared after an extensive research. Primary research involved bulk of the research efforts, wherein analysts carried out interviews with key opinion leaders, industry leaders, and opinion makers. Secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the Chillers market.

Secondary research also included Internet sources, statistical data from government agencies, websites, and trade associations. Analysts employed a combination of top-down and bottom-up approaches to study various attributes of the global Chillers market.

The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Moreover, the report throws light on the changing competitive dynamics in the global Chillers market. These serve as valuable tools for existing market players as well as for entities interested in participating in the global Chillers market.

The report delves into the competitive landscape of the global Chillers market. Key players operating in the global Chillers market have been identified and each one of these has been profiled in terms of various attributes. Company overview, financial standings, recent developments, and SWOT are the attributes of players in the global Chillers market profiled in this report.

Key Questions Answered in Global Chillers Market Report
  • What is the sales/revenue generated by Chillers across all regions during the forecast period?
  • What are the opportunities in the global Chillers market?
  • What are the major drivers, restraints, opportunities, and threats in the market?
  • Which regional market is set to expand at the fastest CAGR during the forecast period?
  • Which segment is expected to generate the highest revenue globally in 2031?
  • Which segment is projected to expand at the highest CAGR during the forecast period?
  • What are the market positions of different companies operating in the global market?

Chillers Market – Research Objectives and Research Approach


The comprehensive report on the global Chillers market begins with an overview, followed by the scope and objectives of the study. The report provides detailed explanation of the objectives behind this study and key vendors and distributors operating in the market and regulatory scenario for approval of products.

For reading comprehensibility, the report has been compiled in a chapter-wise layout, with each section divided into smaller ones. The report comprises an exhaustive collection of graphs and tables that are appropriately interspersed. Pictorial representation of actual and projected values of key segments is visually appealing to readers. This also allows comparison of the market shares of key segments in the past and at the end of the forecast period.

The report analyzes the global Chillers market in terms of product, end-user, and region. Key segments under each criterion have been studied at length, and the market share for each of these at the end of 2031 has been provided. Such valuable insights enable market stakeholders in making informed business decisions for investment in the global Chillers market.


1. Preface
1.1. Market Definition and Scope
1.2. Market Segmentation
1.3. Key Research Objectives
1.4. Research Highlights
2. Assumptions
3. Research Methodology
4. Executive Summary
5. Market Overview
5.1. Introduction
5.2. Market Dynamics
5.2.1. Drivers
5.2.2. Restraints
5.2.3. Opportunities
5.3. Key Trends Analysis
5.3.1. Demand Side Analysis
5.3.2. Supply Side Analysis
5.4. Key Market Indicators
5.5. Technological Overview Analysis
5.6. Porter’s Five Forces Analysis
5.7. Industry SWOT Analysis
5.8. Value Chain Analysis
5.9. Regulatory Framework
5.10. Global Chillers Market Analysis and Forecast, 2017 - 2031
5.10.1. Market Value Projections (US$ Bn)
5.10.2. Market Volume Projections (Thousand Units)
6. Global Chillers Market Analysis and Forecast, by Type
6.1. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Type, 2017 - 2031
6.1.1. Air-cooled Chiller
6.1.1.1. Air-cooled Scroll Compressor Chiller
6.1.1.2. Air-cooled Screw Compressor Chiller
6.1.1.3. Air-cooled High Efficiency Modular Chiller
6.1.1.4. Others
6.1.2. Water-cooled Chiller
6.1.2.1. Water-cooled Screw Compressor Chiller
6.1.2.2. Modular Central Plant
6.1.2.3. Scroll Water Heater
6.1.2.4. Magnetic Bearing Centrifugal Chiller
6.1.2.5. Others
6.2. Incremental Opportunity, by Type
7. Global Chillers Market Analysis and Forecast, by Refrigeration Cycle
7.1. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Refrigeration Cycle, 2017 - 2031
7.1.1. Vapor Absorption
7.1.2. Vapor Compression
7.2. Incremental Opportunity, by Refrigeration Cycle
8. Global Chillers Market Analysis and Forecast, by Compressor Technology
8.1. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Compressor Technology, 2017 - 2031
8.1.1. Centrifugal Chillers
8.1.2. Reciprocating Chillers
8.1.3. Scroll Compressor Chillers
8.1.4. Screw Driven Chillers
8.2. Incremental Opportunity, by Compressor Technology
9. Global Chillers Market Analysis and Forecast, by Power Range
9.1. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Power Range, 2017 - 2031
9.1.1. Less than 50 kW
9.1.2. 50 kW -200 kW
9.1.3. More than 200 kW
9.2. Incremental Opportunity, by Power Range
10. Global Chillers Market Analysis and Forecast, by Temperature Range
10.1. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Temperature Range, 2017 - 2031
10.1.1. +30°C to -20°C
10.1.2. -20°C to -40°C
10.1.3. -40°C and below
10.2. Incremental Opportunity, by Temperature Range
11. Global Chillers Market Analysis and Forecast, by End-use Industry
11.1. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by End-use Industry, 2017 - 2031
11.1.1. Chemicals & Petrochemicals
11.1.2. Food & Beverage
11.1.3. Healthcare
11.1.4. Metal Manufacturing
11.1.5. Others
11.2. Incremental Opportunity, by End-use Industry
12. Global Chillers Market Analysis and Forecast, by Distribution Channel
12.1. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Distribution Channel, 2017 - 2031
12.1.1. Direct
12.1.2. Indirect
12.2. Incremental Opportunity, by Distribution Channel
13. Global Chillers Market Analysis and Forecast, by Region
13.1. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Region, 2017 - 2031
13.1.1. North America
13.1.2. Europe
13.1.3. Asia Pacific
13.1.4. Middle East & Africa
13.1.5. South America
13.2. Incremental Opportunity, by Region
14. North America Chillers Market Analysis and Forecast
14.1. Regional Snapshot
14.2. Brand Analysis
14.3. Price Trend Analysis
14.3.1. Weighted Average Price
14.4. Key Trends Analysis
14.4.1. Demand Side
14.4.2. Supplier Side
14.5. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Type, 2017 - 2031
14.5.1. Air-cooled Chiller
14.5.1.1. Air-cooled Scroll Compressor Chiller
14.5.1.2. Air-cooled Screw Compressor Chiller
14.5.1.3. Air-cooled High Efficiency Modular Chiller
14.5.1.4. Others
14.5.2. Water-cooled Chiller
14.5.2.1. Water-cooled Screw Compressor Chiller
14.5.2.2. Modular Central Plant
14.5.2.3. Scroll Water Heater
14.5.2.4. Magnetic Bearing Centrifugal Chiller
14.5.2.5. Others
14.6. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Refrigeration Cycle, 2017 - 2031
14.6.1. Vapor Absorption
14.6.2. Vapor Compression
14.7. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Compressor Technology, 2017 - 2031
14.7.1. Centrifugal Chillers
14.7.2. Reciprocating Chillers
14.7.3. Scroll Compressor Chillers
14.7.4. Screw Driven Chillers
14.8. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Power Range, 2017 - 2031
14.8.1. Less than 50 kW
14.8.2. 50 kW-200 kW
14.8.3. More than 200 kW
14.9. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Temperature Range, 2017 - 2031
14.9.1. +30°C to -20°C
14.9.2. -20°C to -40°C
14.9.3. -40°C and below
14.10. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by End-use Industry, 2017 - 2031
14.10.1. Chemicals & Petrochemicals
14.10.2. Food & Beverage
14.10.3. Healthcare
14.10.4. Metal Manufacturing
14.10.5. Others
14.11. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Distribution Channel, 2017 - 2031
14.11.1. Direct
14.11.2. Indirect
14.12. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Country/Sub-region, 2017 - 2031
14.12.1. U.S.
14.12.2. Canada
14.12.3. Rest of North America
14.13. Incremental Opportunity Analysis
15. Europe Chillers Market Analysis and Forecast
15.1. Regional Snapshot
15.2. Brand Analysis
15.3. Price Trend Analysis
15.3.1. Weighted Average Price
15.4. Key Trends Analysis
15.4.1. Demand Side
15.4.2. Supplier Side
15.5. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Type, 2017 - 2031
15.5.1. Air-cooled Chiller
15.5.1.1. Air-cooled Scroll Compressor Chiller
15.5.1.2. Air-cooled Screw Compressor Chiller
15.5.1.3. Air-cooled High Efficiency Modular Chiller
15.5.1.4. Others
15.5.2. Water-cooled Chiller
15.5.2.1. Water-cooled Screw Compressor Chiller
15.5.2.2. Modular Central Plant
15.5.2.3. Scroll Water Heater
15.5.2.4. Magnetic Bearing Centrifugal Chiller
15.5.2.5. Others
15.6. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Refrigeration Cycle, 2017 - 2031
15.6.1. Vapor Absorption
15.6.2. Vapor Compression
15.7. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Compressor Technology, 2017 - 2031
15.7.1. Centrifugal Chillers
15.7.2. Reciprocating Chillers
15.7.3. Scroll Compressor Chillers
15.7.4. Screw Driven Chillers
15.8. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Power Range, 2017 - 2031
15.8.1. Less than 50 kW
15.8.2. 50 kW-200 kW
15.8.3. More than 200 kW
15.9. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Temperature Range, 2017 - 2031
15.9.1. +30°C to -20°C
15.9.2. -20°C to -40°C
15.9.3. -40°C and below
15.10. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by End-use Industry, 2017 - 2031
15.10.1. Chemicals & Petrochemicals
15.10.2. Food & Beverage
15.10.3. Healthcare
15.10.4. Metal Manufacturing
15.10.5. Others
15.11. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Distribution Channel, 2017 - 2031
15.11.1. Direct
15.11.2. Indirect
15.12. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Country/Sub-region, 2017 - 2031
15.12.1. U.K.
15.12.2. Germany
15.12.3. France
15.12.4. Rest of Europe
15.13. Incremental Opportunity Analysis
16. Asia Pacific Chillers Market Analysis and Forecast
16.1. Regional Snapshot
16.2. Brand Analysis
16.3. Key Trends Analysis
16.3.1. Demand Side
16.3.2. Supplier Side
16.4. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Type, 2017 - 2031
16.4.1. Air-cooled Chiller
16.4.1.1. Air-cooled Scroll Compressor Chiller
16.4.1.2. Air-cooled Screw Compressor Chiller
16.4.1.3. Air-cooled High Efficiency Modular Chiller
16.4.1.4. Others
16.4.2. Water-cooled Chiller
16.4.2.1. Water-cooled Screw Compressor Chiller
16.4.2.2. Modular Central Plant
16.4.2.3. Scroll Water Heater
16.4.2.4. Magnetic Bearing Centrifugal Chiller
16.4.2.5. Others
16.5. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Refrigeration Cycle, 2017 - 2031
16.5.1. Vapor Absorption
16.5.2. Vapor Compression
16.6. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Compressor Technology, 2017 - 2031
16.6.1. Centrifugal Chillers
16.6.2. Reciprocating Chillers
16.6.3. Scroll Compressor Chillers
16.6.4. Screw Driven Chillers
16.7. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Power Range, 2017 - 2031
16.7.1. Less than 50 kW
16.7.2. 50 kW-200 kW
16.7.3. More than 200 kW
16.8. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Temperature Range, 2017 - 2031
16.8.1. +30°C to -20°C
16.8.2. -20°C to -40°C
16.8.3. -40°C and below
16.9. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by End-use Industry, 2017 - 2031
16.9.1. Chemicals & Petrochemicals
16.9.2. Food & Beverage
16.9.3. Healthcare
16.9.4. Metal Manufacturing
16.9.5. Others
16.10. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Distribution Channel, 2017 - 2031
16.10.1. Direct
16.10.2. Indirect
16.11. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Country/Sub-region, 2017 - 2031
16.11.1. India
16.11.2. China
16.11.3. Japan
16.11.4. Rest of Asia Pacific
16.12. Incremental Opportunity Analysis
17. Middle East & South Africa Chillers Market Analysis and Forecast
17.1. Regional Snapshot
17.2. Brand Analysis
17.3. Price Trend Analysis
17.3.1. Weighted Average Price
17.4. Key Trends Analysis
17.4.1. Demand Side
17.4.2. Supplier Side
17.5. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Type, 2017 - 2031
17.5.1. Air-cooled Chiller
17.5.1.1. Air-cooled Scroll Compressor Chiller
17.5.1.2. Air-cooled Screw Compressor Chiller
17.5.1.3. Air-cooled High Efficiency Modular Chiller
17.5.1.4. Others
17.5.2. Water-cooled Chiller
17.5.2.1. Water-cooled Screw Compressor Chiller
17.5.2.2. Modular Central Plant
17.5.2.3. Scroll Water Heater
17.5.2.4. Magnetic Bearing Centrifugal Chiller
17.5.2.5. Others
17.6. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Refrigeration Cycle, 2017 - 2031
17.6.1. Vapor Absorption
17.6.2. Vapor Compression
17.7. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Compressor Technology, 2017 - 2031
17.7.1. Centrifugal Chillers
17.7.2. Reciprocating Chillers
17.7.3. Scroll Compressor Chillers
17.7.4. Screw Driven Chillers
17.8. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Power Range, 2017 - 2031
17.8.1. Less than 50 kW
17.8.2. 50 kW-200 kW
17.8.3. More than 200 kW
17.9. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Temperature Range, 2017 - 2031
17.9.1. +30°C to -20°C
17.9.2. -20°C to -40°C
17.9.3. -40°C and below
17.10. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by End-use Industry, 2017 - 2031
17.10.1. Chemicals & Petrochemicals
17.10.2. Food & Beverage
17.10.3. Healthcare
17.10.4. Metal Manufacturing
17.10.5. Others
17.11. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Distribution Channel, 2017 - 2031
17.11.1. Direct
17.11.2. Indirect
17.12. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Country/Sub-region, 2017 - 2031
17.12.1. GCC
17.12.2. Rest of Middle East & Africa
17.13. Incremental Opportunity Analysis
18. South America Chillers Market Analysis and Forecast
18.1. Regional Snapshot
18.2. Brand Analysis
18.3. Price Trend Analysis
18.3.1. Weighted Average Price
18.4. Key Trends Analysis
18.4.1. Demand Side
18.4.2. Supplier Side
18.5. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Type, 2017 - 2031
18.5.1. Air-cooled Chiller
18.5.1.1. Air-cooled Scroll Compressor Chiller
18.5.1.2. Air-cooled Screw Compressor Chiller
18.5.1.3. Air-cooled High Efficiency Modular Chiller
18.5.1.4. Others
18.5.2. Water-cooled Chiller
18.5.2.1. Water-cooled Screw Compressor Chiller
18.5.2.2. Modular Central Plant
18.5.2.3. Scroll Water Heater
18.5.2.4. Magnetic Bearing Centrifugal Chiller
18.5.2.5. Others
18.6. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Refrigeration Cycle, 2017 - 2031
18.6.1. Vapor Absorption
18.6.2. Vapor Compression
18.7. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Compressor Technology, 2017 - 2031
18.7.1. Centrifugal Chillers
18.7.2. Reciprocating Chillers
18.7.3. Scroll Compressor Chillers
18.7.4. Screw Driven Chillers
18.8. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Power Range, 2017 - 2031
18.8.1. Less than 50 kW
18.8.2. 50 kW-200 kW
18.8.3. More than 200 kW
18.9. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Temperature Range, 2017 - 2031
18.9.1. +30°C to -20°C
18.9.2. -20°C to -40°C
18.9.3. -40°C and below
18.10. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by End-use Industry, 2017 - 2031
18.10.1. Chemicals & Petrochemicals
18.10.2. Food & Beverage
18.10.3. Healthcare
18.10.4. Metal Manufacturing
18.10.5. Others
18.11. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Distribution Channel, 2017 - 2031
18.11.1. Direct
18.11.2. Indirect
18.12. Chillers Market Size (US$ Bn and Thousand Units) Forecast, by Country/Sub-region, 2017 - 2031
18.12.1. Brazil
18.12.2. Rest of South America
18.13. Incremental Opportunity Analysis
19. Competition Landscape
19.1. Market Player - Competition Dashboard
19.2. Market Share Analysis (%), by Company, (2022)
19.3. Company Profiles (Details - Company Overview, Sales Area/Geographical Presence, Revenue, Strategy & Business Overview)
19.3.1. Daikin Industries, Ltd.
19.3.1.1. Company Overview
19.3.1.2. Sales Area/Geographical Presence
19.3.1.3. Revenue
19.3.1.4. Strategy & Business Overview
19.3.2. Drake Refrigeration Inc.
19.3.2.1. Company Overview
19.3.2.2. Sales Area/Geographical Presence
19.3.2.3. Revenue
19.3.2.4. Strategy & Business Overview
19.3.3. Haier Electronics Group Co. Ltd.
19.3.3.1. Company Overview
19.3.3.2. Sales Area/Geographical Presence
19.3.3.3. Revenue
19.3.3.4. Strategy & Business Overview
19.3.4. Ingersoll Rand (Trane)
19.3.4.1. Company Overview
19.3.4.2. Sales Area/Geographical Presence
19.3.4.3. Revenue
19.3.4.4. Strategy & Business Overview
19.3.5. Johnson Controls
19.3.5.1. Company Overview
19.3.5.2. Sales Area/Geographical Presence
19.3.5.3. Revenue
19.3.5.4. Strategy & Business Overview
19.3.6. LG Electronics
19.3.6.1. Company Overview
19.3.6.2. Sales Area/Geographical Presence
19.3.6.3. Revenue
19.3.6.4. Strategy & Business Overview
19.3.7. Mitsubishi Corporation
19.3.7.1. Company Overview
19.3.7.2. Sales Area/Geographical Presence
19.3.7.3. Revenue
19.3.7.4. Strategy & Business Overview
19.3.8. Robert Bosch GmbH
19.3.8.1. Company Overview
19.3.8.2. Sales Area/Geographical Presence
19.3.8.3. Revenue
19.3.8.4. Strategy & Business Overview
19.3.9. Senho Machinery (Shenzhen) Co., Ltd
19.3.9.1. Company Overview
19.3.9.2. Sales Area/Geographical Presence
19.3.9.3. Revenue
19.3.9.4. Strategy & Business Overview
19.3.10. United Technologies Corporation
19.3.10.1. Company Overview
19.3.10.2. Sales Area/Geographical Presence
19.3.10.3. Revenue
19.3.10.4. Strategy & Business Overview
20. Key Takeaways
20.1. Identification of Potential Market Spaces
20.1.1. Type
20.1.2. Refrigeration Cycle
20.1.3. Compressor Technology
20.1.4. Power Range
20.1.5. Temperature Range
20.1.6. End-use Industry
20.1.7. Distribution Channel
20.1.8. By Region
20.2. Prevailing Market Risks
20.3. Understanding the Buying Process of the Customers
20.4. Preferred Sales & Marketing Strategy

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