Recirculating Chillers Global Market Report 2025

The recirculating chillers market size has grown rapidly in recent years. It will grow from $1.65 billion in 2024 to $1.83 billion in 2025 at a compound annual growth rate (CAGR) of 11.2%. The growth in the historic period can be attributed to rising industrial process automation, growing demand from research and academic institutions, increasing use in semiconductor manufacturing, rising healthcare infrastructure investments, and growing awareness of precise temperature control.

The recirculating chillers market size is expected to see rapid growth in the next few years. It will grow to $2.76 billion in 2029 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to the expansion of healthcare and diagnostic facilities, rising investment in laboratory and research infrastructure, growing industrial and electronics manufacturing output, increasing demand for IoT-enabled chillers, and rising adoption of eco-friendly refrigerants. Key trends in the forecast period include advancements in IoT-enabled chillers, innovation in energy-efficient cooling technologies, integration of eco-friendly refrigerants, advancements in user-friendly interface designs, and innovation in compact and portable chillers.

The rising adoption of medical imaging equipment is expected to drive the growth of the recirculating chillers market. Medical imaging equipment includes devices such as MRI machines, CT scanners, and PET scanners used to visualize internal structures and functions of the body for diagnostic purposes. The increase in adoption is driven by growing demand for accurate and timely diagnostics, expansion of healthcare infrastructure, and advancements in imaging technologies that require precise temperature control for optimal performance. Recirculating chillers support medical imaging equipment by providing consistent cooling and temperature regulation, ensuring reliable operation and extending the lifespan of sensitive components. For instance, in November 2023, according to Vizient Inc., a US-based healthcare performance improvement company, over the next ten years, standard outpatient imaging volumes are expected to rise by approximately 10%, while advanced imaging procedures are projected to grow by nearly 14%. Therefore, the rising adoption of medical imaging equipment is propelling the growth of the recirculating chillers market.

Key companies operating in the recirculating chillers market are focusing on developing compact thermoelectric recirculating chillers to provide precise and efficient temperature control in advanced imaging and sensing applications. A compact thermoelectric recirculating chiller is a closed-loop cooling system that uses thermoelectric modules to regulate fluid temperature with high accuracy while maintaining a small physical footprint, making it suitable for sensitive optical, laboratory, and electronic devices. For instance, in August 2025, Tark Thermal Solutions, a China-based provider of advanced thermal management technologies, launched the Nextreme NRC400. The product delivers highly stable cooling performance with compact dimensions, enabling precise thermal regulation in camera-based and imaging systems. Its design emphasizes improved energy efficiency, operational reliability, and suitability for high-performance laboratory and sensing environments.

In July 2025, Scientific Digital Imaging (SDI) Group, a UK-based provider of scientific and technology products, acquired Applied Thermal Control Limited (ATC) for an undisclosed amount. With this acquisition, SDI aims to strengthen its thermal management capabilities and expand its portfolio through complementary technologies, enhancing its presence in the precision cooling solutions market. Applied Thermal Control Limited is a UK-based manufacturer of precision recirculating chillers and heat exchangers used in scientific instrumentation and process control applications worldwide.

Major players in the recirculating chillers market are Thermo Fisher Scientific Inc., SMC Corporation, VWR International LLC, Glen Dimplex Group Plc, Boyd Group, BÜCHI Labortechnik GmbH, Cole-Parmer Instrument Company LLC, Peter Huber Kältemaschinenbau SE, Polysciences Inc., ICS Cool Energy Limited, Dimplex Thermal Solutions Inc., JULABO GmbH, Ecochillers Inc., Grant Instruments Cambridge Ltd., Auwii Instrument Co. Ltd., LabTech Inc., Lauda Dr. R. Wobser GmbH & Co. KG, Orion Machinery Inc., Teyu Electromechanical, and FRYKA-Kältetechnik GmbH.

North America was the largest region in the recirculating chillers market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in recirculating chillers report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the recirculating chillers market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report’s Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

The swift increase in U.S. tariffs and the ensuing trade tensions in spring 2025 are significantly affecting the machinery sector by increasing costs for steel, hydraulic systems, and precision bearings critical components often imported from tariff-affected regions. Manufacturers of construction, agricultural, and industrial machinery now face squeezed margins, as many long-term contracts prevent immediate price adjustments. The uncertainty has also delayed investment in automation and smart machinery technologies, slowing productivity gains. To adapt, firms are accelerating local supplier development, redesigning products to use alternative materials, and leveraging predictive maintenance to extend equipment lifespans amid higher replacement costs.

The recirculating chillers market research report is one of a series of new reports that provides recirculating chillers market statistics, including recirculating chillers industry global market size, regional shares, competitors with a recirculating chillers market share, detailed recirculating chillers market segments, market trends and opportunities, and any further data you may need to thrive in the recirculating chillers industry. This recirculating chillers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

Recirculating chillers are closed-loop cooling systems that continuously circulate a liquid coolant to remove heat from equipment, machinery, or laboratory processes. Their primary purpose is to maintain precise temperature control, ensuring optimal performance, reliability, and longevity of the cooled systems. They also provide consistent thermal management, enhance operational efficiency, support sensitive industrial and laboratory applications, and promote energy-efficient and stable cooling solutions.

The key types of recirculating chillers are air-cooled and water-cooled. Air-cooled recirculating chillers are systems that transfer heat from the process fluid to the surrounding air using condenser fans, eliminating the need for external water sources. The technologies used include IoT-enabled chillers, energy-efficient chillers, and eco-friendly refrigerant chillers. These chillers are distributed through direct sales, distributors, and online retail channels. They are applied in various areas such as laboratory equipment cooling, semiconductor manufacturing, medical imaging systems, and industrial processes, serving end-users including healthcare, industrial, research and academic institutions, and electronics sectors.

The recirculating chillers market consists of sales of high-capacity chillers, cryogenic chillers, process chillers, rack-mounted chillers, and industrial floor-mounted chillers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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