Centrifugal chillers market is anticipated to grow at a moderate CAGR of 3.5% during the forecast period (2024-2031). The market growth is driven by the rising demand of chillers in the end-user industries, such as hospitals, hotels, manufacturing plants and more. The market growth in the industrial sector is attributed to the lower energy usage and higher energy efficiencies offered by centrifugal chillers. The growing industrialization in the developing economies, due to supporting government policies is also expanding the need for thechillers. The benefits offered the chillers such as low procurement and maintenance cost, have also contributed to thedemand of chillers.

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The growth in the centrifugal chillers market is instigated by the rising adoption of cold chain infrastructure, especially in agriculture, and the food & beverage industry to sustain food, and crops for a longer duration alongside reducing the use of preservatives, and processing. For instance, India's Integrated Cold Chain and Value Addition Infrastructure scheme promotes integrated and complete cold chain facilities without any break from the farm gate to the consumer, to reduce losses by improving efficiency in the collection of farmers' produce, storage, transportation, and minimal processing. Both horticultural and non-horticultural produce are eligible for support under this scheme. Under this scheme, as of December 31, 2022, a cold storage capacity of 8.38 lakh MT has been created.

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Market Coverage
Market number available for – 2024-2031
Base year- 2024
Forecast period- 2024-2031
Segment Covered- By Source, By Product Type, By Applications
Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
, and others

Global Centrifugal Chillers Market Report Segment

By Type

Air Cooled
Water Cooled

By Tonnage

Less than 1000
1000 - 2000
More than 2000

By Industry

Food & Beverage
Pharmaceutical
Plastics
Chemicals &Petrochemicals
Data Centers
Others (Commercial, Rubber, etc.)

Global Centrifugal Chillers Market Report Segment by Region

North America

United States
Canada

Europe

UK
Germany
Italy
Spain
France
Rest of Europe

Asia-Pacific

China
India
Japan
South Korea
Rest of Asia-Pacific

Rest of the World

Latin America
The Middle East and Africa

The Report Covers 

Market value data analysis of 2023 and forecast to 2031.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global centrifugal chillers market. Based on the availability of data, information related to new Type launches, and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying ‘who-stands-where’ in the market.

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