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Chillers - Global Market Trajectory & Analytics

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  • 287 Pages
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 4804652
Global Chillers Market to Reach $12.1 Billion by 2027

Amid the COVID-19 crisis, the global market for Chillers estimated at US$9.9 Billion in the year 2020, is projected to reach a revised size of US$12.1 Billion by 2027, growing at a CAGR of 3% over the analysis period 2020-2027. Screw Chillers, one of the segments analyzed in the report, is projected to record a 3.5% CAGR and reach US$3.5 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Scroll Chillers segment is readjusted to a revised 2.7% CAGR for the next 7-year period.

The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 5.5% CAGR

The Chillers market in the U.S. is estimated at US$2.7 Billion in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$2.5 Billion by the year 2027 trailing a CAGR of 5.5% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.8% and 2.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.4% CAGR.

Absorption Chillers Segment to Record 3.8% CAGR

In the global Absorption Chillers segment, USA, Canada, Japan, China and Europe will drive the 3.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$525.1 Million in the year 2020 will reach a projected size of US$658 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$1.7 Billion by the year 2027, while Latin America will expand at a 4.7% CAGR through the analysis period.

Select Competitors (Total 41 Featured):
  • Advantage Engineering, Inc.
  • Airedale International Air Conditioning Ltd.
  • BlueBOX IT
  • BROAD Group
  • Bv Thermal Systems
  • Carrier Corporation
  • Cold Shot Chillers
  • Daikin Industries Ltd.
  • Drake Refrigeration, Inc.
  • Dunham-Bush Holding Bhd.
  • GEA Group AG
  • Johnson Controls - Hitachi Air Conditioning
  • Kaltra Innovativtechnik GmbH
  • Lennox Emea
  • Midea Group Co., Ltd.
  • Polysciences, Inc.
  • S.K.M Air Conditioning LLC
  • Shuangliang Eco-Energy Systems Co., Ltd.
  • Smardt Chiller Group Inc.
  • Tandem Chillers Inc.
  • Thermal Care, Inc.
  • Thermax Ltd.
  • Thermonics Corporation
  • Trane, Inc.
Frequently Asked Questions about the Global Market for Chillers

What is the estimated value of the Global Market for Chillers?

The Global Market for Chillers was estimated to be valued at $9.9 Billion in 2020.

What is the growth rate of the Global Market for Chillers?

The growth rate of the Global Market for Chillers is 2.9%, with an estimated value of $12.1 Billion by 2027.

What is the forecasted size of the Global Market for Chillers?

The Global Market for Chillers is estimated to be worth $12.1 Billion by 2027.

Table of Contents


  • Influencer Market Insights
  • World Market Trajectories
  • A Prelude to Chillers Market
  • Global Chillers Market on a Growth Trajectory
  • Absorption Chillers to Grow at the Fastest Rate
  • Plastic Industry: The Largest End-user of Chillers
  • Impact of Covid-19 and a Looming Global Recession
  • Growing Demand for Process Cleaning in Industrial Applications
  • Frozen Food Market Drives Demand for Chillers in Food & Beverage Industry
  • Chemical Industry: STable Growth Outlook Augurs Well for Chillers Market
  • Increasing Demand for Solar Cooling Spurs the Chillers Market
  • Regulations towards Fluorinated Bromine Gases to Bolster Market Demand for Chillers
  • Innovations
  • Competition


  • Total Companies Profiled: 41