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Chiller Market Size, Share, Growth, Company Analysis and Forecast 2019-2026

Press release   •   Jan 08, 2020 03:16 KST

The global chiller market was pegged at $10.35 billion in 2018 and is projected to reach $14.54 billion by 2026, registering a CAGR of 6.5% during the period 2019 to 2026. The report provides in-depth analyses of the top winning strategies, drivers & opportunities, market size & estimations, key market segments, and competitive landscape.

Increased need for cooling equipment in industries and rise in consumption of frozen food drive the global chiller market. However, high cost associated with electricity hinders market growth. On the contrary, rapid technological advancements are expected to create remunerative opportunities for market players in the near future.

The report analyzes and forecasts the chiller market at global and regional levels. The market has been forecast based on volume (Tons) and value (US$ Mn) from 2019 to 2026. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

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The report comprises a detailed value chain analysis, which provides a comprehensive view of the global chiller market. The Porter’s Five Forces model has also been included to help understand the competitive landscape of the market. The study encompasses market attractiveness analysis, wherein various applications have been benchmarked based on their market size, growth rate, and general attractiveness.

The study provides a decisive view of the chiller market by segmenting it in terms of form and application. The segment has been analyzed based on the present and future trends. Regional segmentation includes the current and projected demand in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

The report provides size (in terms of volume and value) of chiller market for the base year 2018 and the forecast between 2019 and 2026. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

Competitive Landscape is the most valuable part of this report

Key market players have implemented product launch, expansion, and partnership to gain competitive advantage and a stronger base in the market. For instance, Carrier Corporation launched a new product in the market with an environmentally sustainable refrigerant to enhance its market penetration.

The companies profiled in the report are Daikin Industries Ltd., Johnson Controls, Trane Inc., Carrier Corporation, Smartd Chiller Group Inc., Thermax Ltd., Hitachi Appliances Inc., Climaveneta S.P.A., Polyscience, and Dimplex Thermal Solutions.

Other players included in the value chain are Thermal Care Inc., BV Thermal Systems, Temptek Inc., Advantage Engineering Inc., Broad Air Conditioning Co. Ltd., Hyundai Climate Control Co., Ltd., Robur Group, Yazaki Corporation, and Kawasaki Thermal Eng. Co. Ltd.

Key financial developments of a particular company and product & company overview are some of the elements that help in acquiring information about top vendors in the market. This particular section has also included a SWOT analysis of the companies featured in the report. This will help the audience in knowing about opportunities, strengths, threats and weaknesses that are facing by the key vendors in the chemical and material industry across the world. As the competitive landscape is the most valuable part of any report, it consists of all the required information for the detailed study of top players functioning in the industries. It is also an interesting part to find how exactly these key manufacturers implement various strategies to secure the top rank in the industry. Such an in-depth information is useful for the new entrants into the industry as they would be able to learn a bit from these key vendors. Similarly, the information provided in the research report will also be valuable for the renowned key players as well, as they come to know the strategies of their counterparts to sustain in the competitive industry.

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Screw Chiller
Scroll Chiller
Centrifugal Chiller
Absorption Chiller
Reciprocating Chiller

Chemicals & Petrochemicals
Food & Beverages
Medical & Others

Report coverage

  • Analysis Period: 2015 – 2026
  • Base Year: 2018
  • Forecast Data: 2019 – 2026
  • Regional Scope: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
  • Report Coverage: Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

Primary research represents a bulk of research efforts, supplemented by extensive secondary research. Annual reports, press releases, and relevant documents of key players operating in various application areas have been reviewed for competition analysis and market understanding.

Secondary research also includes recent trends, technical writing, Internet sources, and statistical data from government websites, trade associations, and agencies. These have proved to be reliable, effective, and successful approaches for obtaining precise market data, capturing market participants’ insights, and recognizing business opportunities.

The study objectives of this report are:

  • To analyze and study the global chiller capacity, production, value, consumption, status (2014-2018) and forecast (2019-2026);
  • Focuses on the key chiller manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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Table of Content


1.1. Report Description
1.2. Key Benefits
1.3. Key Market Segments
1.4. Research Methodology

1.4.1. Secondary Research
1.4.2. Primary Research
1.4.3. Analyst Tools and Models


2.1. CXO Perspective


3.1. Market Definition and Scope
3.2. Key Findings

3.2.1. Top Winning Strategies
3.2.2. Top Investment Pockets

3.3. Porters Five Forces Analysis

3.3.1. High Bargaining Power of Buyers
3.3.2. Moderate Bargaining Power of Suppliers
3.3.3. Low Threat of Substitution
3.3.4. Low Threat of New Entrant
3.3.5. High Competitive Rivalry

3.4. Market Players Positioning, 2015
3.5. Market Dynamics

3.5.1. Drivers Growth in Commercial & Industrial Sectors Increased Consumption of Frozen Foods

3.5.2. Restraint High Electricity Cost

3.5.3. Opportunities Technological Advancement


4.1. Overview

4.1.1. Market Size and Forecast

4.2. Scroll Chiller

4.2.1. Key Market Trends
4.2.2. Growth Factors and Opportunities
4.2.3. Market Size and Forecast

4.3. Screw Chiller

4.3.1. Key Market Trends
4.3.2. Growth Factors and Opportunities
4.3.3. Market Size and Forecast

4.4. Centrifugal Chiller

4.4.1. Key Market Trends
4.4.2. Growth Factors and Opportunities
4.4.3. Market Size and Forecast

4.5. Absorption Chiller

4.5.1. Key Market Trends
4.5.2. Growth Factors and Opportunities
4.5.3. Market Size and Forecast

4.6. Reciprocating Chiller

4.6.1. Key Market Trends
4.6.2. Growth Factors and Opportunities
4.6.3. Market Size and Forecast


5.1. Chemicals & Petrochemicals

5.1.1. Key Market Trends
5.1.2. Market Size and Forecast

5.2. Food & Beverages

5.2.1. Key Market Trends
5.2.2. Market Size and Forecast

5.3. Plastic

5.3.1. Key Market Trends
5.3.2. Market Size and Forecast

5.4. Rubber

5.4.1. Key Market Trends
5.4.2. Market Size and Forecast

5.5. Medical & Others

5.5.1. Key Market Trends
5.5.2. Market Size and Forecast


6.1. Overview

6.1.1. Market Size and Forecast

6.2. North America

6.2.1. Key Market Trends
6.2.2. Growth Factors and Opportunities
6.2.3. Market Size and Forecast
6.2.4. U.S. Market Size and Forecast

6.2.5. Canada Market Size and Forecast

6.2.6. Mexico Market Size and Forecast

6.3. Europe

6.3.1. Key Market Trends
6.3.2. Growth Factors and Opportunities
6.3.3. Market Size and Forecast
6.3.4. UK Market Size and Forecast

6.3.5. Germany Market Size and Forecast

6.3.6. Italy Market Size and Forecast

6.3.7. Rest of Europe Market Size and Forecast

6.4. Asia-Pacific

6.4.1. Key Market Trends
6.4.2. Growth Factors and Opportunities
6.4.3. Market Size and Forecast
6.4.4. China Market Size and Forecast

6.4.5. Japan Market Size and Forecast

6.4.6. India Market Size and Forecast

6.4.7. Rest of Asia-Pacific Market Size and Forecast

6.5. LAMEA

6.5.1. Key Market Trends
6.5.2. Growth Factors and Opportunities
6.5.3. Market Size and Forecast
6.5.4. Brazil Market Size and Forecast

6.5.5. Africa Market Size and Forecast

6.5.6. Rest of LAMEA Market Size and Forecast


7.1. Absorption Chiller Market

7.1.1. Overview

7.2. Microwave Oven Market

7.2.1. Overview


8.1. Climaveneta S.P.A.

8.1.1. Company Overview
8.1.2. Operating Business Segments
8.1.3. Business Performance
8.1.4. Key Strategic Moves and Developments

8.2. Carrier Corporation

8.2.1. Company Overview
8.2.2. Operating Business Segments
8.2.3. Business Performance
8.2.4 Key Strategic Moves and Developments

8.3. Trane Inc.

8.3.1. Company Overview
8.3.2. Operating Business Segments
8.3.3. Business Performance
8.3.4. Key Strategic Moves and Developments

8.4. Daikin Industries Ltd.

8.4.1. Company Overview
8.4.2. Operating Business Segments
8.4.3. Business Performance
8.4.4. Key Strategic Moves and Developments

8.5. Johnson Controls

8.5.1. Company Overview
8.5.2. Operating Business Segments
8.5.3. Business Performance
8.5.4. Key Strategic Moves and Developments

8.6. Smartd Chiller Group Inc.

8.6.1. Company Overview
8.6.2. Operating Business Segments
8.6.3. Business Performance
8.6.4. Key Strategic Moves and Developments

8.7. Thermax Ltd.

8.7.1. Company Overview
8.7.2. Operating Business Segments
8.7.3. Business Performance
8.7.4. Key Strategic Moves and Developments

8.8. Hitachi Appliances Inc.

8.8.1. Company Overview
8.8.2. Operating Business Segments
8.8.3. Business Performance
8.8.4. Key Strategic Moves and Developments

8.9. Polyscience

8.9.1. Company Overview
8.9.2. Operating Business Segments
8.9.3. Business Performance
8.9.4. Key Strategic Moves and Developments

8.10. Dimplex Thermal Solutions

8.10.1. Company Overview
8.10.2. Operating Business Segments
8.10.3. Business Performance
8.10.4. Key Strategic Moves and Developments

Other players in the value chain include

Thermal Care Inc.
BV Thermal Systems
Temptek Inc.
Advantage Engineering Inc.
Broad Air Conditioning Co. Ltd.
Hyundai Climate Control Co., Ltd.
Robur Group
Yazaki Corporation

Kawasaki Thermal Eng. Co. Ltd.​

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