Chillers Market Size To Reach $15,643.1 Million By 2033

Chillers Market Growth & Trends

The global chillers market size is estimated to reach USD 15,643.1 million by 2033, registering to grow at a CAGR of 4.9% from 2026 to 2033, according to a new report by Grand View Research, Inc. Government initiatives, such as proposed legislation and funding initiatives for cold storage facilities, are likely to positively impact the market growth.

The cold storage sector is one of the key application areas for chillers. In simple terms, cold storage means storing different kinds of goods in a cold environment, where all heat is removed, to preserve items like food and medicines, extend their longevity, and inhibit the growth of bacteria. Cold storages range from warehouses and research labs to restaurants, breweries, and portable transportation devices. Chillers are of vital importance in cold storage, as their key function is to remove heat from one location to another.

The market growth is significantly fueled by the increasing number of commercial construction projects underway worldwide. These projects are related to the development of shopping malls, retail stores, educational institutions, office buildings, public buildings, hospitals, transportation infrastructures, and fitness centres. The ongoing urbanization and industrialization across the world are creating new opportunities for commercial construction projects. This fuels the demand for chillers, which play a vital role in maintaining the temperature, air quality, and ventilation in hospitals, educational buildings, airports, and spas & swimming pools.

Moreover, with the flourishing global travel and tourism industry owing to the increasing disposable income of the middle-class population and ongoing globalization, mid-range hotels are observed to be emerging in large numbers across the world. This fuels the demand for chillers that are installed in hotels for various functions and operations. The surging number of new hotel construction projects across the world is anticipated to fuel the installation of chillers.

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Chillers Market Report Highlights

• Water-cooled chillers held a significant share of the market and accounted for a share of 59.4% in 2025, owing to its compact size, high energy-efficiency and long life.

• Commercial application segment holds substantial share in the chillers market around 48.9% in 2025.

• The screw chillers compressor type segment dominated the market and accounted for 50.0% in 2025.

• Asia Pacific region led the market and accounted for 46.3% of the global chillers market in 2025.

Chillers Market Segmentation

Grand View Research has segmented the global chillers market on the basis of product, application, compressor type, and region:

Chillers Product Outlook (Revenue, USD Million, 2021 - 2033)

• Water-Cooled

  • <50kW

  • 51-100kW

  • 101-500kW

  • 501-1000kW

  • 1001-1500kW

  • >1501kW

• Air-Cooled

  • <50kW

  • 51-100kW

  • 101-500kW

  • 501-1000kW

  • 1001-1500kW

  • >1501kW

Chillers Application Outlook (Revenue, USD Million, 2021 - 2033)

• Commercial

  • Corporate Offices

  • Data Centers

  • Public Buildings

  • Mercantile & Service

  • Healthcare

  • Others

• Industrial

  • Chemicals & Petrochemicals

  • Food & Beverage

  • Metal Manufacturing & Machining

  • Medical & Pharmaceutical

  • Plastics

  • Others

• Residential

Chillers Compressor Type Outlook (Revenue, USD Million, 2021 - 2033)

• Screw Chillers

• Centrifugal Chillers

• Absorption Chillers

• Scroll Chillers

• Reciprocating Chillers

Chillers Regional Outlook (Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • France

  • UK

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • Thailand

  • South Korea

  • Indonesia

  • Malaysia

• Central & South America

  • Brazil

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

List of Key Players in the Chillers Market

• Trane

• Cold Shot Chillers

• Tandem Chillers

• Drake Refrigeration, Inc

• Refra

• Carrier

• FRIGEL FIRENZE S.p.A.

• Midea

• Daikin Industries, Ltd.

• Johnson Controls

• Rite-Temp

• General Air Products

• ClimaCool Corp.

• Fluid Chillers, Inc.

• Multistack International Limited