United States Chiller Market Growth Analysis - Market Size, Share, Forecast Trends and Outlook Report (2025-2034)

The United States chiller market size reached around USD 2.64 Billion in 2024. The market is projected to grow at a CAGR of 3.60% between 2025 and 2034 to reach nearly USD 3.76 Billion by 2034. The market growth can be attributed to the increasing focus on energy efficiency, rising demand for air cooled chillers, growing trend of sustainability, and technological advancements and innovations.

United States Chiller Market Summary

Market Size 2024

• USD Billion 2.64

Market Size 2034

• USD Billion 3.76
• CAGR 2025-2034
• 3.60%

CAGR 2025-2034 - Market by Region

• Far West
• 4.5%

CAGR 2025-2034 - Market by Region

• New England
• 3.4%

CAGR 2025-2034 - Market by Type of Cooling

• Air Cooled
• 4.3%

CAGR 2025-2034 - Market by End Use

Chemicals and Petrochemicals

• 3.8%

Market Share by Region 2024

• New England
• 6.3%

United States Chiller Market Growth

Nearly 16% of American households use heat pumps for heating/cooling their spaces. In September 2023, the United States Climate Alliance agreed to enhance their efforts to reach 20 million installations of heat pumps by 2030. Heat pumps powered by renewable sources of energy are comparatively more sustainable than conventional fossil fuel-based heat pumps as they emit 80% lesser carbon emissions and can result in annual savings worth $1000.

The federal government is encouraging the adoption of heat pumps among US households by providing a 30% tax credit on the total cost of purchase and installation (up to $2000 annually). Many regions like Connecticut, New York, and Maine are also providing additional financial incentives for low-income households if they choose to install air-source heat pumps. This is expected to drive the demand for chillers over the forecast period.

High-capacity chillers which are ideal for below-ground and above-ground installation and can withstand the impact of seismic waves during the occurrence of natural disasters like earthquakes are expected to become increasingly popular for a wide range of industrial and commercial applications in the United States.

Chillers which adhere to the quality standards prescribed by statutory bodies or government agencies like the Department of HCAI in California are expected to garner increasing consumer appeal in the forecast period.

Key Trends and Developments

The United States chiller market expansion is being driven by the growing emphasis on energy efficiency; integration of smart technologies into chillers; surging demand for eco-friendly refrigerants; and rising preference for customisable chillers.

April 2024

Oregon-based manufacturer G&D Chillers launched a propane (R290) commercial and industrial chiller, Elite R290, for the US market. The Elite 290 series boasts near-zero Global Warming Potential (GWP) and significantly lower energy costs, benefitting customers engaged in different sectors like commercial breweries, distilleries, and wineries as well as food processing.

January 2024

JULABO USA launched a refrigerant-free chiller, TE400, that utilises Peltier technology to offer efficient laboratory cooling with a range of -5 to 40 degrees Celsius and a cooling capacity of up to 400 watts. Equipped with a pump capacity of 7 l/min with a pressure to 17.4 psi, the chiller is ideal for temperature control in external environments.

November 2023

Vertiv announced the availability of the Vertiv™ Liebert® AFC Chiller, its latest high-density outdoor cooling unit that offers capacities required to support general compute and hybrid data centres deploying AI and high-performance computing. The new chiller complements the company’s thermal management portfolio.

July 2022

Modine Manufacturing Company announced the commencement of full-scale production of chillers for the data centre market at its new production facility in Rockbridge, Virginia. The company also confirmed a significant order with data centre giant, Corscale and the development of a specialised data centre chiller with enhanced free cooling to meet North American safety standards.

Increasing emphasis on energy efficiency

With the growing focus on energy efficiency amid rising energy costs and the increasing trend of sustainability, the demand for chillers equipped with advanced compressors and variable speed drives (VSD) to optimise energy usage and reduce operational costs is significantly surging.

Integration of smart technologies into chillers

The integration of smart technologies such as the Internet of things (IoT) and artificial intelligence (AI) into chillers to enable remote monitoring and diagnostics, provide real-time performance data and predictive maintenance alerts to clients, and adapt their operations in real-time based on ambient conditions, load demand, and energy prices is aiding the market.

Rising demand for eco-friendly refrigerants

There is a rising demand for eco-friendly refrigerants such as R-32, Opteon, R-600, isobutane, and ammonia, among others, for use in chillers as they have low ozone depletion potential (ODP) and low GWP. Such refrigerants also reduce operational costs and high energy efficiency of chillers, making them significant to support sustainability in the United States chiller market.

Growing preference for customisable chillers

Businesses in different sectors are increasingly seeking customisable chillers that include modifications and add-ons such as dual refrigeration systems for varying workloads, remote controls to enable their long-range control, and special pumps to enable higher or lower pressure flows. Key players are also optimising chillers to meet the specific needs of different operations such as space optimisation or specialised refrigerants.

United States Chiller Market Trends

In the United States chiller market, hybrid cooling systems, combining the benefits of both water and air cooled chillers, are gaining prominence. Such systems boast improved performance and flexibility, making them ideal for use in businesses requiring varying environmental conditions. Besides, there is a growing utilisation of advanced materials and coatings in chiller manufacturing to improve their strength and corrosion resistance and contribute to longer hardware life. In the forecast period, key players are expected to deploy innovative technologies such as augmented reality (AR) for the maintenance of chillers by gaining access to real-time information and guidance regarding investigation and repairs to minimise downtime.

United States Chiller Industry Segmentation

The report titled “United States Chiller Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:

Breakup by Type of Cooling

• Water Cooled
• Air Cooled

Breakup by Compressor Type

• Screw Chillers
• Scroll Chillers
• Reciprocating Chillers
• Centrifugal Chillers
• Absorption Chillers

Breakup by End Use

• Food and Beverage
• Chemicals and Petrochemicals
• Medical and Pharmaceutical
• Plastics
• Others

Breakup by Region

• New England
• Mideast
• Great Lakes
• Plains
• Southeast
• Southwest
• Rocky Mountain
• Far West

United States Chiller Market Share

Based on the type of cooling, the market is segmented into air cooled and water cooled. The air cooled segment is projected to grow at a CAGR of 4.3% during the forecast period of 2025-2034. Air cooled chillers are easy to install and maintain, can be easily operated in smaller spaces, and do not require a water supply to function. This makes them ideal for use in small to medium-sized commercial buildings and industrial settings with limited water resources. Meanwhile, water cooled chillers require a loop and a cooling tower and are ideal for installations for large buildings and industrial plants.

CAGR 2025-2034 - Market by

• Type of Cooling
• Air Cooled
• 4.3%
• Water Cooled

Leading Companies in the United States Chiller Market

Key United States chiller market players are investing in sustainable and energy-efficient technologies as well as eco-friendly refrigerants to boost the sustainability profile of chillers. Chiller companies in the United States are also expanding their product portfolios to meet the specific needs of customers in diverse end-use sectors.

Daikin Industries Ltd.

Daikin Industries Ltd., founded in 1924 and headquartered in Osaka, Japan, is a prominent provider of high-quality and advanced air conditioning solutions for use in the industrial, residential, and commercial sectors. Its products are marketed and sold in over 170 countries globally.

Carrier Global Corp.

Carrier Global Corp., headquartered in Florida, United States, and founded in 1902, is a leading provider of intelligent climate and energy solutions. It boasts over 75 brands and achieved net sales worth USD 22.1 billion in 2023.

Johnson Controls International Plc

Johnson Controls International Plc, established in 1885 and headquartered in Cork, Ireland, is a global leader in healthy, smart, and sustainable buildings. It boasts one of the largest portfolios of building solutions and software in the world. The company also offers a diverse range of HVAC solutions, encompassing air cooled, absorption, and water cooled chillers.

Trane Technologies Plc

Trane Technologies Plc, established in 1885 and headquartered in Dublin, Ireland, is a global climate innovator that advances sustainability through Thermo King® and Trane®. It also offers a broad portfolio of eco-friendly services and products, offering sustainable climate solutions to homes, buildings, and transportation.

Other major players in the United States chiller market are LG Corp., Fluid Chillers, Inc., Panasonic Holdings Corp., Mitsubishi Electric Corporation, Midea Group Co. Ltd., and HYDAC International GmbH, among others.