The North America Chillers Market would witness market growth of 3.5% CAGR during the forecast period (2023-2029).
Chillers use absorption or vapor-compression refrigeration cycles to remove heat from a liquid. These are usually used in the industrial sector to keep the environment cool and regulate equipment temperature. Compressors, condensers, evaporators, control panels, expansion valves, and power panels are a few of the chiller's parts. Chillers offer air conditioning by reducing the extra heat from industrial and commercial spaces.
The market is expanding due to an increase in demand across several industry verticals, including food & beverage, petrochemicals, rubber, plastic, and medical. In addition, the rise in new commercial construction projects and the expansion of the aviation sector are expected to fuel the growth of the market.
As a result of increasing demand from numerous end-use industries, the market is anticipated to grow. Due to lower energy use and improved energy efficiency, the industrial sector is likewise experiencing increased demand. Changing industrial government policies also promotes the industrialization of developing nations' economies. Operators can more easily expand their infrastructure when they use chillers. The existing chiller system's capacity could be increased by adding parallel modules. As a result of their numerous advantages, chillers are increasingly in demand.
The demand for easy-to-make foods that save customers both energy and time while they cook, prepare, and clean-up is the main factor driving the frozen food sector in North America. More individuals are predicted to want ready-packed, easy-to-cook, and ready-to-eat goods during the forecast period, increasing demand for frozen meals in North America. Furthermore, it is projected that new product advancements, like multigrain, whole wheat, and low-trans-fat products, will enhance the industry. The expanding demand for and consumption of frozen goods, which must be kept in cooler locations, will lead to significant growth in the region's market.
The US market dominated the North America Chillers Market by Country in 2022 and would continue to be a dominant market till 2029; thereby, achieving a market value of $2,454.2 million by 2029. The Canada market is poised to grow at a CAGR of 5.8% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 4.9% during (2023 - 2029).
Based on Type, the market is segmented into Screw Chiller, Scroll Chiller, Centrifugal Chiller and Others. Based on End User, the market is segmented into Chemicals & Petrochemicals, Food & Beverages, Medical and Others. Based on Product Type, the market is segmented into Water Cooled Chiller and Air Cooled Chiller. Based on Power Range, the market is segmented into More than 200 kW, 50-200 kW and Less than 50 kW. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Chillers Market is Projected to reach USD 13.2 Billion by 2029, at a CAGR of 4%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Carrier Global Corporation, Mitsubishi Electric Corporation, Daikin Industries, Ltd., Dimplex Thermal Solutions, Inc. (GlenDimplex), LG Electronics (LG Corporation), Johnson Controls International PLC, PolyScience (Preston Industries, Inc.), Smardt Chiller Group Inc. (Nanjing TICA Environmental Technology Co., Ltd.), Thermax Limited and Trane Technologies PLC.
Scope of the Study
Market Segments Covered in the Report:
By Type
- Screw Chiller
- Scroll Chiller
- Centrifugal Chiller
- Others
By End User
- Chemicals & Petrochemicals
- Food & Beverages
- Medical
- Others
By Product Type
- Water Cooled Chiller
- Air Cooled Chiller
By Power Range
- More than 200 kW
- 50-200 kW
- Less than 50 kW
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- Carrier Global Corporation
- Mitsubishi Electric Corporation
- Daikin Industries, Ltd.
- Dimplex Thermal Solutions, Inc. (GlenDimplex)
- LG Electronics (LG Corporation)
- Johnson Controls International PLC
- PolyScience (Preston Industries, Inc.)
- Smardt Chiller Group Inc. (Nanjing TICA Environmental Technology Co., Ltd.)
- Thermax Limited
- Trane Technologies PLC
Chapter 1. Market Scope & Methodology
1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Chillers Market, by Type
1.4.2 North America Chillers Market, by End User
1.4.3 North America Chillers Market, by Product Type
1.4.4 North America Chillers Market, by Power Range
1.4.5 North America Chillers Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market Composition & Scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Competition Analysis - Global
3.1 KBV Cardinal Matrix
3.2 Recent Industry Wide Strategic Developments
3.2.1 Partnerships, Collaborations and Agreements
3.2.2 Product Launches and Product Expansions
3.2.3 Acquisition and Mergers
3.2.4 Geographical Expansions
3.3 Market Share Analysis, 2021
3.4 Top Winning Strategies
3.4.1 Key Leading Strategies: Percentage Distribution (2019-2023)
3.4.2 Key Strategic Move: (Product Launches and Product Expansions: 2020, Aug – 2023, Feb) Leading Players
Chapter 4. North America Chillers Market by Type
4.1 North America Screw Chiller Market by Country
4.2 North America Scroll Chiller Market by Country
4.3 North America Centrifugal Chiller Market by Country
4.4 North America Others Market by Country
Chapter 5. North America Chillers Market by End User
5.1 North America Chemicals & Petrochemicals Market by Country
5.2 North America Food & Beverages Market by Country
5.3 North America Medical Market by Country
5.4 North America Others Market by Country
Chapter 6. North America Chillers Market by Product Type
6.1 North America Water Cooled Chiller Market by Country
6.2 North America Air Cooled Chiller Market by Country
Chapter 7. North America Chillers Market by Power Range
7.1 North America More than 200 kW Market by Country
7.2 North America 50-200 kW Market by Country
7.3 North America Less than 50 kW Market by Country
Chapter 8. North America Chillers Market by Country
8.1 US Chillers Market
8.1.1 US Chillers Market by Type
8.1.2 US Chillers Market by End User
8.1.3 US Chillers Market by Product Type
8.1.4 US Chillers Market by Power Range
8.2 Canada Chillers Market
8.2.1 Canada Chillers Market by Type
8.2.2 Canada Chillers Market by End User
8.2.3 Canada Chillers Market by Product Type
8.2.4 Canada Chillers Market by Power Range
8.3 Mexico Chillers Market
8.3.1 Mexico Chillers Market by Type
8.3.2 Mexico Chillers Market by End User
8.3.3 Mexico Chillers Market by Product Type
8.3.4 Mexico Chillers Market by Power Range
8.4 Rest of North America Chillers Market
8.4.1 Rest of North America Chillers Market by Type
8.4.2 Rest of North America Chillers Market by End User
8.4.3 Rest of North America Chillers Market by Product Type
8.4.4 Rest of North America Chillers Market by Power Range
Chapter 9. Company Profiles
9.1 Carrier Global Corporation
9.1.1 Company Overview
9.1.2 Financial Analysis
9.1.3 Segmental and Regional Analysis
9.1.4 Research & Development Expenses
9.1.5 Recent strategies and developments:
9.1.5.1 Product Launches and Product Expansions:
9.1.5.2 Acquisition and Mergers:
9.2 Trane Technologies PLC
9.2.1 Company Overview
9.2.2 Financial Analysis
9.2.3 Regional Analysis
9.2.4 Research & Development Expense
9.2.5 Recent strategies and developments:
9.2.5.1 Partnerships, Collaborations, and Agreements:
9.2.5.2 Product Launches and Product Expansions:
9.2.5.3 Acquisition and Mergers:
9.3 Mitsubishi Electric Corporation
9.3.1 Company Overview
9.3.2 Financial Analysis
9.3.3 Segmental and Regional Analysis
9.3.4 Research & Development Expense
9.3.5 Recent strategies and developments:
9.3.5.1 Product Launches and Product Expansions:
9.3.5.2 Acquisition and Mergers:
9.3.6 SWOT Analysis
9.4 Daikin Industries Ltd.
9.4.1 Company Overview
9.4.2 Financial Analysis
9.4.3 Regional & Segmental Analysis
9.4.4 Research & Development Expenses
9.4.5 Recent strategies and developments:
9.4.5.1 Product Launches and Product Expansions:
9.4.5.2 Acquisition and Mergers:
9.5 Dimplex Thermal Solutions, Inc. (GlenDimplex)
9.5.1 Company overview
9.6 Johnson Controls International PLC
9.6.1 Company Overview
9.6.2 Financial Analysis
9.6.3 Segmental & Regional Analysis
9.6.4 Research & Development Expenses
9.6.5 Recent strategies and developments:
9.6.5.1 Product Launches and Product Expansions:
9.6.5.2 Acquisition and Mergers:
9.6.6 SWOT Analysis
9.7 LG Electronics, Inc. (LG Corporation)
9.7.1 Company Overview
9.7.2 Financial Analysis
9.7.3 Regional & Segmental Analysis
9.7.4 Research & Development Expenses
9.7.5 Recent strategies and developments:
9.7.5.1 Partnerships, Collaborations, and Agreements:
9.7.5.2 Product Launches and Product Expansions:
9.7.1 SWOT Analysis
9.8 Thermax Limited
9.8.1 Company Overview
9.8.2 Financial Analysis
9.8.3 Segmental and Regional Analysis
9.8.4 Research & Development Expenses
9.8.5 Recent strategies and developments:
9.8.5.1 Geographical Expansions:
9.9 PolyScience (Preston Industries, Inc.)
9.9.1 Company Overview
9.10. Smardt Chiller Group Inc. (Nanjing TICA Environmental Technology Co., Ltd.)
9.10.1 Company Overview
TABLE 1 North America Chillers Market, 2019 - 2022, USD Million
TABLE 2 North America Chillers Market, 2023 - 2029, USD Million
TABLE 3 Partnerships, Collaborations and Agreements– Chillers Market
TABLE 4 Product Launches And Product Expansions– Chillers Market
TABLE 5 Acquisition and Mergers– Chillers Market
TABLE 6 Geographical Expansions– Chillers Market
TABLE 7 North America Chillers Market by Type, 2019 - 2022, USD Million
TABLE 8 North America Chillers Market by Type, 2023 - 2029, USD Million
TABLE 9 North America Screw Chiller Market by Country, 2019 - 2022, USD Million
TABLE 10 North America Screw Chiller Market by Country, 2023 - 2029, USD Million
TABLE 11 North America Scroll Chiller Market by Country, 2019 - 2022, USD Million
TABLE 12 North America Scroll Chiller Market by Country, 2023 - 2029, USD Million
TABLE 13 North America Centrifugal Chiller Market by Country, 2019 - 2022, USD Million
TABLE 14 North America Centrifugal Chiller Market by Country, 2023 - 2029, USD Million
TABLE 15 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 16 North America Others Market by Country, 2023 - 2029, USD Million
TABLE 17 North America Chillers Market by End User, 2019 - 2022, USD Million
TABLE 18 North America Chillers Market by End User, 2023 - 2029, USD Million
TABLE 19 North America Chemicals & Petrochemicals Market by Country, 2019 - 2022, USD Million
TABLE 20 North America Chemicals & Petrochemicals Market by Country, 2023 - 2029, USD Million
TABLE 21 North America Food & Beverages Market by Country, 2019 - 2022, USD Million
TABLE 22 North America Food & Beverages Market by Country, 2023 - 2029, USD Million
TABLE 23 North America Medical Market by Country, 2019 - 2022, USD Million
TABLE 24 North America Medical Market by Country, 2023 - 2029, USD Million
TABLE 25 North America Others Market by Country, 2019 - 2022, USD Million
TABLE 26 North America Others Market by Country, 2023 - 2029, USD Million
TABLE 27 North America Chillers Market by Product Type, 2019 - 2022, USD Million
TABLE 28 North America Chillers Market by Product Type, 2023 - 2029, USD Million
TABLE 29 North America Water Cooled Chiller Market by Country, 2019 - 2022, USD Million
TABLE 30 North America Water Cooled Chiller Market by Country, 2023 - 2029, USD Million
TABLE 31 North America Air Cooled Chiller Market by Country, 2019 - 2022, USD Million
TABLE 32 North America Air Cooled Chiller Market by Country, 2023 - 2029, USD Million
TABLE 33 North America Chillers Market by Power Range, 2019 - 2022, USD Million
TABLE 34 North America Chillers Market by Power Range, 2023 - 2029, USD Million
TABLE 35 North America More than 200 kW Market by Country, 2019 - 2022, USD Million
TABLE 36 North America More than 200 kW Market by Country, 2023 - 2029, USD Million
TABLE 37 North America 50-200 kW Market by Country, 2019 - 2022, USD Million
TABLE 38 North America 50-200 kW Market by Country, 2023 - 2029, USD Million
TABLE 39 North America Less than 50 kW Market by Country, 2019 - 2022, USD Million
TABLE 40 North America Less than 50 kW Market by Country, 2023 - 2029, USD Million
TABLE 41 North America Chillers Market by Country, 2019 - 2022, USD Million
TABLE 42 North America Chillers Market by Country, 2023 - 2029, USD Million
TABLE 43 US Chillers Market, 2019 - 2022, USD Million
TABLE 44 US Chillers Market, 2023 - 2029, USD Million
TABLE 45 US Chillers Market by Type, 2019 - 2022, USD Million
TABLE 46 US Chillers Market by Type, 2023 - 2029, USD Million
TABLE 47 US Chillers Market by End User, 2019 - 2022, USD Million
TABLE 48 US Chillers Market by End User, 2023 - 2029, USD Million
TABLE 49 US Chillers Market by Product Type, 2019 - 2022, USD Million
TABLE 50 US Chillers Market by Product Type, 2023 - 2029, USD Million
TABLE 51 US Chillers Market by Power Range, 2019 - 2022, USD Million
TABLE 52 US Chillers Market by Power Range, 2023 - 2029, USD Million
TABLE 53 Canada Chillers Market, 2019 - 2022, USD Million
TABLE 54 Canada Chillers Market, 2023 - 2029, USD Million
TABLE 55 Canada Chillers Market by Type, 2019 - 2022, USD Million
TABLE 56 Canada Chillers Market by Type, 2023 - 2029, USD Million
TABLE 57 Canada Chillers Market by End User, 2019 - 2022, USD Million
TABLE 58 Canada Chillers Market by End User, 2023 - 2029, USD Million
TABLE 59 Canada Chillers Market by Product Type, 2019 - 2022, USD Million
TABLE 60 Canada Chillers Market by Product Type, 2023 - 2029, USD Million
TABLE 61 Canada Chillers Market by Power Range, 2019 - 2022, USD Million
TABLE 62 Canada Chillers Market by Power Range, 2023 - 2029, USD Million
TABLE 63 Mexico Chillers Market, 2019 - 2022, USD Million
TABLE 64 Mexico Chillers Market, 2023 - 2029, USD Million
TABLE 65 Mexico Chillers Market by Type, 2019 - 2022, USD Million
TABLE 66 Mexico Chillers Market by Type, 2023 - 2029, USD Million
TABLE 67 Mexico Chillers Market by End User, 2019 - 2022, USD Million
TABLE 68 Mexico Chillers Market by End User, 2023 - 2029, USD Million
TABLE 69 Mexico Chillers Market by Product Type, 2019 - 2022, USD Million
TABLE 70 Mexico Chillers Market by Product Type, 2023 - 2029, USD Million
TABLE 71 Mexico Chillers Market by Power Range, 2019 - 2022, USD Million
TABLE 72 Mexico Chillers Market by Power Range, 2023 - 2029, USD Million
TABLE 73 Rest of North America Chillers Market, 2019 - 2022, USD Million
TABLE 74 Rest of North America Chillers Market, 2023 - 2029, USD Million
TABLE 75 Rest of North America Chillers Market by Type, 2019 - 2022, USD Million
TABLE 76 Rest of North America Chillers Market by Type, 2023 - 2029, USD Million
TABLE 77 Rest of North America Chillers Market by End User, 2019 - 2022, USD Million
TABLE 78 Rest of North America Chillers Market by End User, 2023 - 2029, USD Million
TABLE 79 Rest of North America Chillers Market by Product Type, 2019 - 2022, USD Million
TABLE 80 Rest of North America Chillers Market by Product Type, 2023 - 2029, USD Million
TABLE 81 Rest of North America Chillers Market by Power Range, 2019 - 2022, USD Million
TABLE 82 Rest of North America Chillers Market by Power Range, 2023 - 2029, USD Million
TABLE 83 Key Information – Carrier Global Corporation
TABLE 84 Key Information – Trane Technologies PLC
TABLE 85 key information – Mitsubishi Electric Corporation
TABLE 86 Key information – Daikin Industries, Ltd.
TABLE 87 Key Information – Dimplex Thermal Solutions, Inc.
TABLE 88 Key Information – Johnson Controls International PLC
TABLE 89 Key information – LG Electronics, Inc.
TABLE 90 Key Information – Thermax Limited
TABLE 91 Key Information – PolyScience
TABLE 92 Key Information – Smardt Chiller Group Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 KBV Cardinal Matrix
FIG 3 Market Share Analysis, 2021
FIG 4 Key Leading Strategies: Percentage Distribution (2019-2023)
FIG 5 Key Strategic Move: (Product Launches and Product Expansions: 2020, Aug – 2023, Feb) Leading Players
FIG 6 North America Chillers Market Share by Type, 2022
FIG 7 North America Chillers Market Share by Type, 2029
FIG 8 North America Chillers Market by Type, 2019 - 2029, USD Million
FIG 9 North America Chillers Market Share by End User, 2022
FIG 10 North America Chillers Market Share by End User, 2029
FIG 11 North America Chillers Market by End User, 2019 - 2029, USD Million
FIG 12 North America Chillers Market Share by Product Type, 2022
FIG 13 North America Chillers Market Share by Product Type, 2029
FIG 14 North America Chillers Market by Product Type, 2019 - 2029, USD Million
FIG 15 North America Chillers Market Share by Power Range, 2022
FIG 16 North America Chillers Market Share by Power Range, 2029
FIG 17 North America Chillers Market by Power Range, 2019 - 2029, USD Million
FIG 18 North America Chillers Market Share by Country, 2022
FIG 19 North America Chillers Market Share by Country, 2029
FIG 20 North America Chillers Market by Country, 2019 - 2029, USD Million
FIG 21 Recent strategies and developments: Carrier Global Corporation
FIG 22 Recent strategies and developments: Trane Technologies PLC
FIG 23 Recent strategies and developments: Mitsubishi Electric Corporation
FIG 24 SWOT Analysis: Mitsubishi Electric Corporation
FIG 25 Recent strategies and developments: Daikin Industries, Ltd.
FIG 26 swot analsyis: Johnson controls international plc
FIG 27 Swot analysis: LG Corporation