During the projected period (2023 to 2033), the global industrial chiller market is expected to grow at a CAGR of 8.8%. The industrial chiller market is projected to reach a valuation of USD 10,459.3 Million by 2033 from USD 4,500.0 Million in 2023. The market stood at USD 4,500.0 Million by the end of 2021.
Rising per capita income is set to enhance the standard of living across the globe, thereby resulting in high demand for leisure and comfort products such as air conditioners and refrigerators. Expansion of the healthcare and food industries is also expected to push the global industrial chiller market in the next ten years.
The rising consumption of frozen food with the growing adoption of busy lifestyles is another crucial factor that is anticipated to augment the market. Process cooling is extensively utilized in the food and beverage industry for food baking and pasteurization processes. It thus generates a high amount of heat.
Industrial chillers are also used in these significant processes to protect the equipment from overheating and maintain its temperature. In the pharmaceutical and healthcare industries, these chillers are projected to gain high popularity on the back of their rising usage for cooling down the temperature of laser treatment tools, CAT scanners, and X-ray machines.
Besides, various local and international companies are launching innovative industrial chillers for a wide range of end users. For instance, in March 2022, Carrier, an American multinational health solution manufacturing firm, AquaForce Vision 30KAV air-cooled chillers equipped with ultra-low global warming potential (GWP) refrigerant. It can optimize industrial processing such as metal, plastics, food manufacturing, chemicals, and pharmaceutical industries.
Daikin, a Japanese multinational air conditioning manufacturing company, on the other hand, unveiled the new generation of inverter-driven water-cooled and air-cooled screw chiller series with refrigerant R-1234ze(E) in February 2021. The new air-cooled chiller range (TZ series) is available in a cooling capacity ranging from 130 kW up to 830 kW, whereas the water-cooled chiller range (VZ series) is available from 340 kW up to 1600 kW cooling capacity.
Similarly, in July 2022, Modine Manufacturing Company, a thermal management organization based in the USA, announced that it has started full-scale production of chillers for the data center industry. The company has initiated production at its new production facility in Rockbridge, Virginia. Thus, the expansion of distribution channels and the development of new manufacturing facilities by key companies are some of the strategies that would propel the industrial chiller market in the next decade.
| Attributes | Key Insights |
|---|---|
| Global Industrial Chiller Market Estimated Size (2023E) | USD 4,500.0 Million |
| Projected Market Valuation (2033F) | USD 10,459.3 Million |
| Value-based CAGR (2023 to 2033) | 8.8% |
| Market Share of the USA | 68% |
Increasing government spending on construction building activities due to rising demand for residential and commercial spaces would require chillers for temperature control. This factor pushed the global industrial chiller market during the historical period from 2018 to 2022 and it exhibited growth at a CAGR of 6.9%.
Growing temperatures owing to rapidly increasing global warming are anticipated to push the demand for industrial chillers in the next ten years. Also, the surging adoption of industrial chillers backed by their ability to eliminate heat from buildings and maintain internal temperature is expected to aid growth.
Pharmaceutical Companies to Look for Industrial Refrigeration Systems in the USA
The pharmaceutical, biotechnology, plastics & rubber, and chemical industries are growing at a fast pace in the USA All types of drugs, right from basic over-the-counter medications to sophisticated antibiotics, must be manufactured by using a cold water application.
Systems that are to be manufactured from stainless steel can be made to achieve temperatures as low as -75°F. They come with either air-cooled or water-cooled condensers. Companies can create a sturdy system to meet any size requirements based on their consumers’ unique needs. The novel system will be more adaptable and effective because of numerous additional features like dual compressors, hot gas bypass, and high-efficiency evaporator, which help to cut down on wasteful electricity use. These factors are expected to boost the USA industrial chiller market in the evaluation period.
The rising Supply of Medicines from India to Other Countries Will Push Sales of Industrial Water Chillers
In the Indian pharmaceutical sector, a pharmaceutical chiller is used to maintain a steady temperature and manage the same efficiently. When making biological pharmaceuticals, a water chiller is frequently employed. The quality of drug manufacturing can be raised by using a laser water chiller to assure the stability of drug ingredients during production.
Auxiliary water chillers for experimental medicines, refining Chinese and Western medicines, cooling tank reactors, and cooling plant medicines are a few of the uses for these devices. In India, the pharmaceutical market was predicted to be worth USD 42 Billion in 2021. With a 20% share of all pharmaceutical exports worldwide, India is the largest producer of generic medications by volume. This factor is estimated to bode well for the Indian industrial chiller market during the forecast period.
Presence of the German Chiller Manufacturer to Drive Demand for Industrial Cooling Equipment
The German Chiller Manufacturer (GCM) creates and develops natural refrigerant-based chillers that are very energy efficient. GCM concentrates on producing novel systems by using natural refrigerants, primarily R717, as a result of European Union (EU) Regulation No. 517/2014 and the EU's phase-out of F-gases (ammonia). GCM stands for custom, high-quality solutions, and adaptable design alternatives to meet the individual needs of its clientele.
The German Chiller Manufacturer (GCM) created the GS-1-KO-1-N-102-SP chiller, for instance, which unites three independently running machines into a single unit and runs on ammonia (R717). Therefore, the operator benefits from full redundancy because the other two machines continue to cool even if one of the three fails. A master control system links the three units that make up the GS-1-KO-1-N-102-SP, however, each machine has its own emergency control center.
Food and Beverage Industry to Extensively Utilize Industrial Water Chiller Machines
Based on end users, the food and beverage segment is projected to remain at the forefront in the global industrial chiller market during the assessment period. Increasing demand for glycol chillers in breweries and wineries to maintain the temperature of beverages is expected to drive the segment in the next ten years. Besides, industrial chillers can efficiently circulate chilled propylene glycol through innovative cooling coils to keep the cold temperature of the food storage units and beverages.
The global industrial chiller market is highly competitive in nature on the back of the presence of various global and local manufacturers. The majority of these companies are engaging in expansion through joint ventures, as well as mergers & acquisitions. A few other key players are focusing on broadening their distribution channels by offering their in-house products through multiple channels such as e-commerce websites, company-owned websites, retailers, and distributions.
For instance:
Coolest Guys in the Room: An Inside look at Industrial Chillers Offered by Daikin Industries, Carrier Corporation, and Johnson Controls
With more companies realizing that industrial chillers are key to their efficient manufacturing process, there has been a growing demand for these powerful units. The benefits of using an industrial chiller are numerous, from saving money on energy costs to increasing productivity. The efficiency of industrial chillers allows manufacturers to save money in three main ways: by reducing operating costs, eliminating downtime due to equipment failure, and improving production output.
Daikin is one of the leading manufacturers in Japan with a diverse product line, including refrigeration systems and air conditioning products. The company’s offerings include commercial, residential, and automotive vehicle air conditioning units, as well as heat pumps. The company introduced a new line of air-cooled scroll chillers. These R32 refrigerant-based variations have a 10% greater SEEP ratio than R410A-based ones.
In October 2022, Daikin Applied announced improvements to its award-winning Pathfinder air-cooled screw chiller. Already the most energy-efficient air-cooled screw chiller on the market, these upgrades will give even greater energy savings in the same footprint, as well as greater flexibility with the option to add factory-installed pump packages.
In January 2021, Daikin North America LLC acquired ABCO HVACR Supply + Solutions, which is a leading full-line distributor of HVAC and refrigeration systems. This approach lays the groundwork for Daikin's comprehensive array of equipment, parts, and accessories.
Carrier Global Corporation, on the other hand, is a global American corporation located in Palm Beach Gardens, Florida that manufactures heating, ventilation, and air conditioning (HVAC), refrigeration, and fire and security systems. Additionally, it provides packaged terminal air conditioners (PTACs), which are used primarily in hotels and motels; window AC units; furnaces; water heaters; ductless mini splits; thermostats; humidifiers; and controls and accessories.
In June 201, Carrier Corporation acquired China-based HVAC manufacturer Guangdong Giwee Group and its subsidiaries, including Guangdong Chigo Heating & Ventilation Co Ltd. The acquisition will provide Carrier Corporation with more access to the rapidly growing variable refrigerant flow (VRF) and light commercial sectors, which are expected to exceed USD 20 Billion by 2025.
Johnson Controls International is a global business based in Cork, Ireland that manufactures fire, HVAC, and security technology for buildings. The company offers a wide variety of products for both residential and commercial use. Whether the customer is interested in an air conditioning system for their home or an industrial-grade chiller capable of cooling thousands of square feet, the company delivers solutions for all types of uses.
In February 2019, Johnson Controls International plc expanded its YORK YLAA series with two additional air-cooled scroll models, namely, 041 and 048. Two different circuits would provide partial redundancy for these chillers, thereby increasing their chilling capacity from 40 tons to 230 tons.
| Attribute | Details |
|---|---|
| Estimated Market Size (2023) | USD 4,500.0 Million |
| Projected Market Valuation (2033) | USD 10,459.3 Million |
| Value-based CAGR (2023 to 2033) | 8.8% |
| Forecast Period | 2018 to 2022 |
| Historical Data Available for | 2023 to 2033 |
| Market Analysis | Value (USD Million) |
| Key Regions Covered |
North America; Europe; Asia Pacific; South America; Middle East and Africa (MEA) |
| Key Countries Covered |
USA, Canada, Germany, UK, France, Italy, Russia, Turkey, Spain, China, Japan, Korea, India, Indonesia, Thailand, Philippines, Malaysia, Vietnam, South Korea, Australia, Brazil, Argentina, Colombia, South Africa, UAE, Egypt, Nigeria, South Africa |
| Key Segments Covered |
Product Type, End User, Region |
| Key Companies Profiled |
Daikin Industries; Carrier Corporation; Trane Technology; Johnson Controls- Hitachi Air Conditioning; Mitsubishi Electric Corporation; Smardt Chiller Group Inc.; KKT Chillers; MTA S.P.A; Friulair S.R.L; HYDAC International; Reynold India Pvt. Ltd; Ingersoll-Rand Company; Paul Mueller Company; Mueller Streamline Co.; PolyScience; Sentry Equipment Corp |
| Report Coverage | Market Forecast, Company Share Analysis, Competitive Landscape, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
Table 1: Global Value (US$ Million) Forecast by Region, 2018 to 2033
Table 2: Global Volume (MT) Forecast by Region, 2018 to 2033
Table 3: Global Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 4: Global Volume (MT) Forecast by Product Type, 2018 to 2033
Table 5: Global Value (US$ Million) Forecast by End User, 2018 to 2033
Table 6: Global Volume (MT) Forecast by End User, 2018 to 2033
Table 7: North America Value (US$ Million) Forecast by Country, 2018 to 2033
Table 8: North America Volume (MT) Forecast by Country, 2018 to 2033
Table 9: North America Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 10: North America Volume (MT) Forecast by Product Type, 2018 to 2033
Table 11: North America Value (US$ Million) Forecast by End User, 2018 to 2033
Table 12: North America Volume (MT) Forecast by End User, 2018 to 2033
Table 13: Latin America Value (US$ Million) Forecast by Country, 2018 to 2033
Table 14: Latin America Volume (MT) Forecast by Country, 2018 to 2033
Table 15: Latin America Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 16: Latin America Volume (MT) Forecast by Product Type, 2018 to 2033
Table 17: Latin America Value (US$ Million) Forecast by End User, 2018 to 2033
Table 18: Latin America Volume (MT) Forecast by End User, 2018 to 2033
Table 19: Europe Value (US$ Million) Forecast by Country, 2018 to 2033
Table 20: Europe Volume (MT) Forecast by Country, 2018 to 2033
Table 21: Europe Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 22: Europe Volume (MT) Forecast by Product Type, 2018 to 2033
Table 23: Europe Value (US$ Million) Forecast by End User, 2018 to 2033
Table 24: Europe Volume (MT) Forecast by End User, 2018 to 2033
Table 25: East Asia Value (US$ Million) Forecast by Country, 2018 to 2033
Table 26: East Asia Volume (MT) Forecast by Country, 2018 to 2033
Table 27: East Asia Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 28: East Asia Volume (MT) Forecast by Product Type, 2018 to 2033
Table 29: East Asia Value (US$ Million) Forecast by End User, 2018 to 2033
Table 30: East Asia Volume (MT) Forecast by End User, 2018 to 2033
Table 31: South Asia Value (US$ Million) Forecast by Country, 2018 to 2033
Table 32: South Asia Volume (MT) Forecast by Country, 2018 to 2033
Table 33: South Asia Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 34: South Asia Volume (MT) Forecast by Product Type, 2018 to 2033
Table 35: South Asia Value (US$ Million) Forecast by End User, 2018 to 2033
Table 36: South Asia Volume (MT) Forecast by End User, 2018 to 2033
Table 37: Oceania Value (US$ Million) Forecast by Country, 2018 to 2033
Table 38: Oceania Volume (MT) Forecast by Country, 2018 to 2033
Table 39: Oceania Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 40: Oceania Volume (MT) Forecast by Product Type, 2018 to 2033
Table 41: Oceania Value (US$ Million) Forecast by End User, 2018 to 2033
Table 42: Oceania Volume (MT) Forecast by End User, 2018 to 2033
Table 43: MEA Value (US$ Million) Forecast by Country, 2018 to 2033
Table 44: MEA Volume (MT) Forecast by Country, 2018 to 2033
Table 45: MEA Value (US$ Million) Forecast by Product Type, 2018 to 2033
Table 46: MEA Volume (MT) Forecast by Product Type, 2018 to 2033
Table 47: MEA Value (US$ Million) Forecast by End User, 2018 to 2033
Table 48: MEA Volume (MT) Forecast by End User, 2018 to 2033
Figure 1: Global Value (US$ Million) by Product Type, 2023 to 2033
Figure 2: Global Value (US$ Million) by End User, 2023 to 2033
Figure 3: Global Value (US$ Million) by Region, 2023 to 2033
Figure 4: Global Value (US$ Million) Analysis by Region, 2018 to 2033
Figure 5: Global Volume (MT) Analysis by Region, 2018 to 2033
Figure 6: Global Value Share (%) and BPS Analysis by Region, 2023 to 2033
Figure 7: Global Y-o-Y Growth (%) Projections by Region, 2023 to 2033
Figure 8: Global Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 9: Global Volume (MT) Analysis by Product Type, 2018 to 2033
Figure 10: Global Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 11: Global Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 12: Global Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 13: Global Volume (MT) Analysis by End User, 2018 to 2033
Figure 14: Global Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 15: Global Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 16: Global Attractiveness by Product Type, 2023 to 2033
Figure 17: Global Attractiveness by End User, 2023 to 2033
Figure 18: Global Attractiveness by Region, 2023 to 2033
Figure 19: North America Value (US$ Million) by Product Type, 2023 to 2033
Figure 20: North America Value (US$ Million) by End User, 2023 to 2033
Figure 21: North America Value (US$ Million) by Country, 2023 to 2033
Figure 22: North America Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 23: North America Volume (MT) Analysis by Country, 2018 to 2033
Figure 24: North America Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 25: North America Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 26: North America Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 27: North America Volume (MT) Analysis by Product Type, 2018 to 2033
Figure 28: North America Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 29: North America Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 30: North America Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 31: North America Volume (MT) Analysis by End User, 2018 to 2033
Figure 32: North America Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 33: North America Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 34: North America Attractiveness by Product Type, 2023 to 2033
Figure 35: North America Attractiveness by End User, 2023 to 2033
Figure 36: North America Attractiveness by Country, 2023 to 2033
Figure 37: Latin America Value (US$ Million) by Product Type, 2023 to 2033
Figure 38: Latin America Value (US$ Million) by End User, 2023 to 2033
Figure 39: Latin America Value (US$ Million) by Country, 2023 to 2033
Figure 40: Latin America Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 41: Latin America Volume (MT) Analysis by Country, 2018 to 2033
Figure 42: Latin America Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 43: Latin America Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 44: Latin America Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 45: Latin America Volume (MT) Analysis by Product Type, 2018 to 2033
Figure 46: Latin America Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 47: Latin America Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 48: Latin America Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 49: Latin America Volume (MT) Analysis by End User, 2018 to 2033
Figure 50: Latin America Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 51: Latin America Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 52: Latin America Attractiveness by Product Type, 2023 to 2033
Figure 53: Latin America Attractiveness by End User, 2023 to 2033
Figure 54: Latin America Attractiveness by Country, 2023 to 2033
Figure 55: Europe Value (US$ Million) by Product Type, 2023 to 2033
Figure 56: Europe Value (US$ Million) by End User, 2023 to 2033
Figure 57: Europe Value (US$ Million) by Country, 2023 to 2033
Figure 58: Europe Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 59: Europe Volume (MT) Analysis by Country, 2018 to 2033
Figure 60: Europe Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 61: Europe Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 62: Europe Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 63: Europe Volume (MT) Analysis by Product Type, 2018 to 2033
Figure 64: Europe Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 65: Europe Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 66: Europe Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 67: Europe Volume (MT) Analysis by End User, 2018 to 2033
Figure 68: Europe Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 69: Europe Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 70: Europe Attractiveness by Product Type, 2023 to 2033
Figure 71: Europe Attractiveness by End User, 2023 to 2033
Figure 72: Europe Attractiveness by Country, 2023 to 2033
Figure 73: East Asia Value (US$ Million) by Product Type, 2023 to 2033
Figure 74: East Asia Value (US$ Million) by End User, 2023 to 2033
Figure 75: East Asia Value (US$ Million) by Country, 2023 to 2033
Figure 76: East Asia Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 77: East Asia Volume (MT) Analysis by Country, 2018 to 2033
Figure 78: East Asia Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 79: East Asia Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 80: East Asia Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 81: East Asia Volume (MT) Analysis by Product Type, 2018 to 2033
Figure 82: East Asia Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 83: East Asia Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 84: East Asia Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 85: East Asia Volume (MT) Analysis by End User, 2018 to 2033
Figure 86: East Asia Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 87: East Asia Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 88: East Asia Attractiveness by Product Type, 2023 to 2033
Figure 89: East Asia Attractiveness by End User, 2023 to 2033
Figure 90: East Asia Attractiveness by Country, 2023 to 2033
Figure 91: South Asia Value (US$ Million) by Product Type, 2023 to 2033
Figure 92: South Asia Value (US$ Million) by End User, 2023 to 2033
Figure 93: South Asia Value (US$ Million) by Country, 2023 to 2033
Figure 94: South Asia Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 95: South Asia Volume (MT) Analysis by Country, 2018 to 2033
Figure 96: South Asia Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 97: South Asia Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 98: South Asia Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 99: South Asia Volume (MT) Analysis by Product Type, 2018 to 2033
Figure 100: South Asia Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 101: South Asia Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 102: South Asia Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 103: South Asia Volume (MT) Analysis by End User, 2018 to 2033
Figure 104: South Asia Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 105: South Asia Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 106: South Asia Attractiveness by Product Type, 2023 to 2033
Figure 107: South Asia Attractiveness by End User, 2023 to 2033
Figure 108: South Asia Attractiveness by Country, 2023 to 2033
Figure 109: Oceania Value (US$ Million) by Product Type, 2023 to 2033
Figure 110: Oceania Value (US$ Million) by End User, 2023 to 2033
Figure 111: Oceania Value (US$ Million) by Country, 2023 to 2033
Figure 112: Oceania Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 113: Oceania Volume (MT) Analysis by Country, 2018 to 2033
Figure 114: Oceania Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 115: Oceania Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 116: Oceania Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 117: Oceania Volume (MT) Analysis by Product Type, 2018 to 2033
Figure 118: Oceania Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 119: Oceania Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 120: Oceania Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 121: Oceania Volume (MT) Analysis by End User, 2018 to 2033
Figure 122: Oceania Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 123: Oceania Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 124: Oceania Attractiveness by Product Type, 2023 to 2033
Figure 125: Oceania Attractiveness by End User, 2023 to 2033
Figure 126: Oceania Attractiveness by Country, 2023 to 2033
Figure 127: MEA Value (US$ Million) by Product Type, 2023 to 2033
Figure 128: MEA Value (US$ Million) by End User, 2023 to 2033
Figure 129: MEA Value (US$ Million) by Country, 2023 to 2033
Figure 130: MEA Value (US$ Million) Analysis by Country, 2018 to 2033
Figure 131: MEA Volume (MT) Analysis by Country, 2018 to 2033
Figure 132: MEA Value Share (%) and BPS Analysis by Country, 2023 to 2033
Figure 133: MEA Y-o-Y Growth (%) Projections by Country, 2023 to 2033
Figure 134: MEA Value (US$ Million) Analysis by Product Type, 2018 to 2033
Figure 135: MEA Volume (MT) Analysis by Product Type, 2018 to 2033
Figure 136: MEA Value Share (%) and BPS Analysis by Product Type, 2023 to 2033
Figure 137: MEA Y-o-Y Growth (%) Projections by Product Type, 2023 to 2033
Figure 138: MEA Value (US$ Million) Analysis by End User, 2018 to 2033
Figure 139: MEA Volume (MT) Analysis by End User, 2018 to 2033
Figure 140: MEA Value Share (%) and BPS Analysis by End User, 2023 to 2033
Figure 141: MEA Y-o-Y Growth (%) Projections by End User, 2023 to 2033
Figure 142: MEA Attractiveness by Product Type, 2023 to 2033
Figure 143: MEA Attractiveness by End User, 2023 to 2033
Figure 144: MEA Attractiveness by Country, 2023 to 2033
The global industrial chiller market size is projected to reach USD 4,500.0 Million by the end of 2023.
The industrial chiller market is expected to rise at a CAGR of 8.8% during the forecast period.
The North America industrial chiller market is expected to register 38% of share between 2023 and 2033.
The USA, India, France, the UK, Germany, and China are the major countries driving demand in the industrial chiller market.
The China industrial chiller market is projected to generate around 32% of share in Asia Pacific.
The Europe industrial chiller market is projected to have around 32% of share in the next ten years.
Daikin Industries, Carrier Corporation, Trane Technology, Johnson Controls- Hitachi Air Conditioning, and Mitsubishi Electric Corporation are expected to be the top players driving the industrial chiller market.
The industrial chiller market is projected to surpass USD 10,459.3 Million by the end of 2033.
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