HVAC Chillers Market ? Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Product Type (Screw chillers, Scroll chillers, Centrifugal chillers and Others), By End-User (Industrial sector and Commercial Sector), By Region & Competition, 2021-2031F

January 2026 | 180 pages | ID: H636D9344CABEN
TechSci Research

Abstracts

The Global HVAC Chillers Market is projected to expand from a valuation of USD 12.58 Billion in 2025 to USD 16.98 Billion by 2031, reflecting a CAGR of 5.13%. These thermal management systems, which employ vapor-compression or absorption cycles to extract heat from liquid coolants for circulation in buildings and industrial settings, are seeing heightened demand due to two primary factors. The aggressive development of commercial infrastructure and the escalating cooling needs of the data center industry, driven by the necessity to manage intense server thermal loads, are propelling market growth. Additionally, the enforcement of strict energy performance mandates is obligating facility managers to upgrade outdated infrastructure with compliant systems, securing consistent demand regardless of short-term market fluctuations.

A major obstacle to market progression arises from operational and regulatory burdens linked to high energy usage and the shift toward sustainable refrigerants. Manufacturers face the dual task of phasing down high-global-warming-potential hydrofluorocarbons while simultaneously reducing the significant carbon footprint associated with these systems. The International Institute of Refrigeration (IIR) reported in 2024 that the refrigeration and air-conditioning sector, including the chiller market, accounted for roughly 20% of total global electricity consumption, highlighting the critical difficulty of aligning high performance with energy sustainability goals.

Market Driver

The escalating need for cooling solutions within data centers is fundamentally transforming the Global HVAC Chillers Market. As hyperscale operators and colocation facilities increase server rack density to accommodate artificial intelligence and cloud computing workloads, the resulting thermal output demands sophisticated heat rejection systems to avert equipment failure. Because traditional air cooling is proving inadequate for these high-density loads, there is a shift toward high-capacity liquid chillers and water-side economizers to ensure operational stability and energy efficiency. This requirement has carved out a specialized niche for manufacturers to provide units that offer precise temperature control and reliability under constant strain; illustrating this demand, JLL's 'U.S. Data Center Report ? Midyear 2024' noted that data center absorption in the United States hit a record 2.8 gigawatts in the first half of the year.

Concurrently, the robust growth of the construction and infrastructure sectors offers a substantial foundation for central cooling system demand. The development of commercial offices, healthcare institutions, and mixed-use complexes requires powerful chiller installations to satisfy modern ventilation and comfort standards, especially in urban centers. This momentum is reinforced by new infrastructure projects that require energy-efficient HVAC systems to meet green building codes. Dodge Construction Network reported in January 2025 that total construction starts increased by roughly 6% in 2024, maintaining a steady pipeline for building services equipment. Aligning with this trend, the International Energy Agency identified space cooling as the fastest-growing source of energy demand in buildings in 2024, with usage expected to increase by nearly 4% annually.

Market Challenge

Operational and regulatory strains concerning high energy consumption and the shift to sustainable refrigerants represent a significant hurdle for the Global HVAC Chillers Market. Manufacturers are required to allocate substantial capital toward redesigning product lines to incorporate low-global-warming-potential refrigerants while concurrently adhering to increasingly stringent efficiency codes. This double burden of compliance complicates manufacturing and raises production costs, which are frequently passed on to buyers. Consequently, the elevated upfront cost of compliant units dissuades facility managers from replacing aging systems, resulting in deferred maintenance and a decelerated rate of new equipment adoption within the commercial and industrial sectors.

This difficult landscape is exacerbated by the swift rise in energy demand within the sector, which prompts continuous regulatory tightening that interferes with long-term production strategies. According to the International Energy Agency, space cooling was pinpointed as the fastest-growing source of energy demand in the buildings sector in 2024, with consumption predicted to grow by nearly 4% annually through 2035. This trend compels regulatory bodies to enforce even more rigorous performance standards to alleviate grid stress, establishing a perpetual cycle of redesign and certification that impedes market flexibility and limits the rapid expansion of the chiller industry.

Market Trends

The adoption of Heat Recovery and Heat Pump Chillers is rapidly increasing as facility managers aim to decarbonize heating systems through electrification. Unlike conventional boiler systems dependent on fossil fuels, modern heat pump chillers utilize waste heat recycling to deliver simultaneous heating and cooling, which significantly improves thermal efficiency. This shift is driven by the operational cost savings linked to lower fuel usage and the capacity to achieve net-zero goals without compromising performance. Highlighting this impact, a June 2025 report by RefIndustry on Johnson Controls noted that their heat pump solutions enabled customers to lower emissions by 60% and reduce heating costs by 53% in 2024 compared to traditional natural gas boilers.

The integration of IoT-Enabled Smart Monitoring and Control is fundamentally transforming chiller operations by moving maintenance strategies from reactive to predictive models. By incorporating advanced sensors and cloud-based analytics, operators can monitor real-time performance data to spot inefficiencies and avert equipment failures before they happen. This digital evolution permits the precise adjustment of system outputs based on immediate environmental needs, ensuring optimized energy consumption across various building portfolios. As reported by Cooling Best Practices in September 2025 regarding the 'Carrier Abound Wins 2025 Sustainability Leadership Award', this AI-driven platform assisted retailers in saving over 667 million kWh of energy globally in the prior 12 months through improved operational intelligence.

Key Market Players

• Carrier Global Corporation
• Trane Technologies plc
• Johnson Controls International plc
• Daikin Industries, Ltd.
• Mitsubishi Electric Corporation
• LG Electronics Inc.
• Danfoss A/S
• Gree Electric Appliances Inc.
• Hitachi, Ltd.
• Blue Star Limited

Report Scope

In this report, the Global HVAC Chillers Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• HVAC Chillers Market, By Product Type
• Screw chillers
• Scroll chillers
• Centrifugal chillers and Others
• HVAC Chillers Market, By End-User
• Industrial sector and Commercial Sector
• HVAC Chillers Market, By Region
• North America
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global HVAC Chillers Market.

Available Customizations:

Global HVAC Chillers Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Contents

1. PRODUCT OVERVIEW

1.1. Market Definition
1.2. Scope of the Market
  1.2.1. Markets Covered
  1.2.2. Years Considered for Study
  1.2.3. Key Market Segmentations

2. RESEARCH METHODOLOGY

2.1. Objective of the Study
2.2. Baseline Methodology
2.3. Key Industry Partners
2.4. Major Association and Secondary Sources
2.5. Forecasting Methodology
2.6. Data Triangulation & Validation
2.7. Assumptions and Limitations

3. EXECUTIVE SUMMARY

3.1. Overview of the Market
3.2. Overview of Key Market Segmentations
3.3. Overview of Key Market Players
3.4. Overview of Key Regions/Countries
3.5. Overview of Market Drivers, Challenges, Trends

4. VOICE OF CUSTOMER

5. GLOBAL HVAC CHILLERS MARKET OUTLOOK

5.1. Market Size & Forecast
  5.1.1. By Value
5.2. Market Share & Forecast
  5.2.1. By Product Type (Screw chillers, Scroll chillers, Centrifugal chillers and Others)
  5.2.2. By End-User (Industrial sector and Commercial Sector)
  5.2.3. By Region
  5.2.4. By Company (2025)
5.3. Market Map

6. NORTH AMERICA HVAC CHILLERS MARKET OUTLOOK

6.1. Market Size & Forecast
  6.1.1. By Value
6.2. Market Share & Forecast
  6.2.1. By Product Type
  6.2.2. By End-User
  6.2.3. By Country
6.3. North America: Country Analysis
  6.3.1. United States HVAC Chillers Market Outlook
    6.3.1.1. Market Size & Forecast
      6.3.1.1.1. By Value
    6.3.1.2. Market Share & Forecast
      6.3.1.2.1. By Product Type
      6.3.1.2.2. By End-User
  6.3.2. Canada HVAC Chillers Market Outlook
    6.3.2.1. Market Size & Forecast
      6.3.2.1.1. By Value
    6.3.2.2. Market Share & Forecast
      6.3.2.2.1. By Product Type
      6.3.2.2.2. By End-User
  6.3.3. Mexico HVAC Chillers Market Outlook
    6.3.3.1. Market Size & Forecast
      6.3.3.1.1. By Value
    6.3.3.2. Market Share & Forecast
      6.3.3.2.1. By Product Type
      6.3.3.2.2. By End-User

7. EUROPE HVAC CHILLERS MARKET OUTLOOK

7.1. Market Size & Forecast
  7.1.1. By Value
7.2. Market Share & Forecast
  7.2.1. By Product Type
  7.2.2. By End-User
  7.2.3. By Country
7.3. Europe: Country Analysis
  7.3.1. Germany HVAC Chillers Market Outlook
    7.3.1.1. Market Size & Forecast
      7.3.1.1.1. By Value
    7.3.1.2. Market Share & Forecast
      7.3.1.2.1. By Product Type
      7.3.1.2.2. By End-User
  7.3.2. France HVAC Chillers Market Outlook
    7.3.2.1. Market Size & Forecast
      7.3.2.1.1. By Value
    7.3.2.2. Market Share & Forecast
      7.3.2.2.1. By Product Type
      7.3.2.2.2. By End-User
  7.3.3. United Kingdom HVAC Chillers Market Outlook
    7.3.3.1. Market Size & Forecast
      7.3.3.1.1. By Value
    7.3.3.2. Market Share & Forecast
      7.3.3.2.1. By Product Type
      7.3.3.2.2. By End-User
  7.3.4. Italy HVAC Chillers Market Outlook
    7.3.4.1. Market Size & Forecast
      7.3.4.1.1. By Value
    7.3.4.2. Market Share & Forecast
      7.3.4.2.1. By Product Type
      7.3.4.2.2. By End-User
  7.3.5. Spain HVAC Chillers Market Outlook
    7.3.5.1. Market Size & Forecast
      7.3.5.1.1. By Value
    7.3.5.2. Market Share & Forecast
      7.3.5.2.1. By Product Type
      7.3.5.2.2. By End-User

8. ASIA PACIFIC HVAC CHILLERS MARKET OUTLOOK

8.1. Market Size & Forecast
  8.1.1. By Value
8.2. Market Share & Forecast
  8.2.1. By Product Type
  8.2.2. By End-User
  8.2.3. By Country
8.3. Asia Pacific: Country Analysis
  8.3.1. China HVAC Chillers Market Outlook
    8.3.1.1. Market Size & Forecast
      8.3.1.1.1. By Value
    8.3.1.2. Market Share & Forecast
      8.3.1.2.1. By Product Type
      8.3.1.2.2. By End-User
  8.3.2. India HVAC Chillers Market Outlook
    8.3.2.1. Market Size & Forecast
      8.3.2.1.1. By Value
    8.3.2.2. Market Share & Forecast
      8.3.2.2.1. By Product Type
      8.3.2.2.2. By End-User
  8.3.3. Japan HVAC Chillers Market Outlook
    8.3.3.1. Market Size & Forecast
      8.3.3.1.1. By Value
    8.3.3.2. Market Share & Forecast
      8.3.3.2.1. By Product Type
      8.3.3.2.2. By End-User
  8.3.4. South Korea HVAC Chillers Market Outlook
    8.3.4.1. Market Size & Forecast
      8.3.4.1.1. By Value
    8.3.4.2. Market Share & Forecast
      8.3.4.2.1. By Product Type
      8.3.4.2.2. By End-User
  8.3.5. Australia HVAC Chillers Market Outlook
    8.3.5.1. Market Size & Forecast
      8.3.5.1.1. By Value
    8.3.5.2. Market Share & Forecast
      8.3.5.2.1. By Product Type
      8.3.5.2.2. By End-User

9. MIDDLE EAST & AFRICA HVAC CHILLERS MARKET OUTLOOK

9.1. Market Size & Forecast
  9.1.1. By Value
9.2. Market Share & Forecast
  9.2.1. By Product Type
  9.2.2. By End-User
  9.2.3. By Country
9.3. Middle East & Africa: Country Analysis
  9.3.1. Saudi Arabia HVAC Chillers Market Outlook
    9.3.1.1. Market Size & Forecast
      9.3.1.1.1. By Value
    9.3.1.2. Market Share & Forecast
      9.3.1.2.1. By Product Type
      9.3.1.2.2. By End-User
  9.3.2. UAE HVAC Chillers Market Outlook
    9.3.2.1. Market Size & Forecast
      9.3.2.1.1. By Value
    9.3.2.2. Market Share & Forecast
      9.3.2.2.1. By Product Type
      9.3.2.2.2. By End-User
  9.3.3. South Africa HVAC Chillers Market Outlook
    9.3.3.1. Market Size & Forecast
      9.3.3.1.1. By Value
    9.3.3.2. Market Share & Forecast
      9.3.3.2.1. By Product Type
      9.3.3.2.2. By End-User

10. SOUTH AMERICA HVAC CHILLERS MARKET OUTLOOK

10.1. Market Size & Forecast
  10.1.1. By Value
10.2. Market Share & Forecast
  10.2.1. By Product Type
  10.2.2. By End-User
  10.2.3. By Country
10.3. South America: Country Analysis
  10.3.1. Brazil HVAC Chillers Market Outlook
    10.3.1.1. Market Size & Forecast
      10.3.1.1.1. By Value
    10.3.1.2. Market Share & Forecast
      10.3.1.2.1. By Product Type
      10.3.1.2.2. By End-User
  10.3.2. Colombia HVAC Chillers Market Outlook
    10.3.2.1. Market Size & Forecast
      10.3.2.1.1. By Value
    10.3.2.2. Market Share & Forecast
      10.3.2.2.1. By Product Type
      10.3.2.2.2. By End-User
  10.3.3. Argentina HVAC Chillers Market Outlook
    10.3.3.1. Market Size & Forecast
      10.3.3.1.1. By Value
    10.3.3.2. Market Share & Forecast
      10.3.3.2.1. By Product Type
      10.3.3.2.2. By End-User

11. MARKET DYNAMICS

11.1. Drivers
11.2. Challenges

12. MARKET TRENDS & DEVELOPMENTS

12.1. Merger & Acquisition (If Any)
12.2. Product Launches (If Any)
12.3. Recent Developments

13. GLOBAL HVAC CHILLERS MARKET: SWOT ANALYSIS

14. PORTER'S FIVE FORCES ANALYSIS

14.1. Competition in the Industry
14.2. Potential of New Entrants
14.3. Power of Suppliers
14.4. Power of Customers
14.5. Threat of Substitute Products

15. COMPETITIVE LANDSCAPE

15.1. Carrier Global Corporation
  15.1.1. Business Overview
  15.1.2. Products & Services
  15.1.3. Recent Developments
  15.1.4. Key Personnel
  15.1.5. SWOT Analysis
15.2. Trane Technologies plc
15.3. Johnson Controls International plc
15.4. Daikin Industries, Ltd.
15.5. Mitsubishi Electric Corporation
15.6. LG Electronics Inc.
15.7. Danfoss A/S
15.8. Gree Electric Appliances Inc.
15.9. Hitachi, Ltd.
15.10. Blue Star Limited

16. STRATEGIC RECOMMENDATIONS

17. ABOUT US & DISCLAIMER