Research and Markets says the global chillers market is projected to grow by $2 billion during 2026-2030, reaching $13.3 billion by 2030, according to its “Chillers Market Report 2026” published January 27, 2026. The report cites opportunities in energy-efficient cooling solutions, smart temperature management, and AI-optimized systems.
The study estimates the market will expand from $10.94 billion in 2025 to $13.3 billion by 2030, representing a 4% CAGR. It links growth to rising demand for energy-efficient and sustainable cooling, alongside advances in digital monitoring and smart temperature management systems, and increasing adoption of air-cooled and water-cooled chillers across commercial, industrial, and residential applications.
Research and Markets also highlights the food and beverage industry as a key driver, describing reliance on chillers for precise temperature management in food processing, storage, and transportation. The report notes that Europe’s savoury snacks market reached a retail value of approximately €40 billion in 2023 [about $43 billion], supporting demand for efficient cooling solutions.
On competitive activity, the report points to Tecogen Inc.’s 2023 launch of the Tecochill Hybrid-Drive air-cooled chiller, which combines natural gas and electricity, and Schneider Electric’s 2024 acquisition of Motivair Corporation to leverage specialized liquid cooling technologies for the data center value chain. Companies mentioned include Carrier Corporation, Daikin Industries Ltd., Trane Technologies plc, Hitachi Air Conditioning Company Ltd., Johnson Controls International plc, and Mitsubishi Electric Corporation, among others.
The report adds that fluctuating trade relations and tariffs can impact costs for imported components, while also encouraging innovations in local manufacturing and energy-efficient solutions. It covers market segmentation by product type, power range, compressor type, and end user, with regional coverage including Asia-Pacific, Europe, North America, South America, the Middle East, and Africa, and lists an estimated 2026 market value of $11.35 billion across a 2026-2030 forecast period.
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