During the projected period of 2022–2030, the worldwide chillers market is anticipated to grow at a compound annual growth rate (CAGR) of 4.0%.
In the industrial, residential, and commercial sectors, chillers are primarily used to manage equipment temperature for optimum performance and to keep the environment cool. By vapour compression, they remove the unwelcome heat from buildings to offer air conditioning. Compressors, condensers, evaporators, control units, pumps, pipes, cooling towers, high-pressure refrigerant relief valves, tanks, filters, fans, etc. are a few examples of the various chiller parts depending on the design.

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Growth Drivers:
In addition, it is evident that the governments of various developing nations are investing enormous sums of money in public infrastructure, such as hospitals, offices, malls, and housing societies, as well as launching programmes like the "National Infrastructure Program" and "Nation Program on Strategies for Sustainable Smart Cities" in order to support rapid population growth along with strong industrial and economic development. The increase in industrial and residential construction is increasing the demand for chillers, which is significantly assisting in the growth of the global chillers market.
Other factors include the rise in the number of centrifugal chillers being offered by market players, the expansion of construction in both developed and developing countries, the rise in disposable incomes driving up consumption of frozen foods, the adoption of advanced cooling systems by end-user industries, the expansion of data centre investments, and the growing emphasis on energy and operational cost minimization.
The high initial investment and setup costs associated with chillers, the frequent fluctuations in raw material prices, the rising demand for variable refrigerant flow (VRF) systems, and strict government regulations concerning greenhouse effects due to the use of chemicals in chillers for refrigeration process in various parts of the world may, however, restrain the growth of the global chillers market to some extent during the forecast period.

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Chillers Market Segmentation:
By Product Type:
• Air Cooled Chiller
• Water Cooled Chiller

By Type:
• Scroll
• Screw
• Centrifugal
• Reciprocating
• Absorption

By Capacity:
• >17.5 kW
• 17.6-50 kW
• 51-100 kW
• 101-200 kW
• >200 kW

By Refrigerant Type:
• R22
• R407C
• R134A
• R410A
• Others

By End-Use Industry:
• Plastics
• Food & Beverage
• Medical & Pharmaceuticals
• Chemicals & Petrochemicals
• Rubber
• Printing
• Laser Cutting
• Alternative Energy
• Others

By Region:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Key Companies in Chillers Market:
• Smardt Chiller Group Inc.
• Johnson Controls International Plc
• Gree Electric Appliances Inc. of Zhuhai
• Midea Group Co. Ltd.
• Thermax Ltd.
• Trane Technologies Plc.
• KKT Chillers
• MTA S.P.A
• Friulair S.R.L
• HYDAC International
• Reynold India Pvt. Ltd.
• Carrier Global Corporation
• Mitsubishi Electric Corporation
• Daikin Industries Ltd.
• Dimplex Thermal Solutions
• LG Electronics
• Other Players

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