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Chillers Market to Grow by $2 Billion During 2026-2030 Reaching $13.3 Billion: Carrier, Daikin Industries, Trane Technologies, Hitachi Air Conditioning Co., and Johnson Controls Lead the Industry

globenewswire.com
CARR Carrier Corporation is mentioned as a key player in the growing chillers market, which is expected to reach $13.3 billion by 2030. The article highlights the overall market growth and doesn't provide specific sentiment for Carrier. TT Trane Technologies plc is listed as a major industry player in the expanding chillers market. The article focuses on the overall market growth and does not offer specific sentiment for Trane Technologies. JCI Johnson Controls International plc is identified as a prominent company in the chillers market, which is projected to grow significantly. The article provides a general overview of the market and does not express specific sentiment towards Johnson Controls. TGEN Tecogen Inc. is highlighted for launching the innovative Tecochill Hybrid-Drive air-cooled chiller, which offers significant energy efficiency and cost reductions. This product launch suggests positive momentum and innovation for the company.

Dublin, Jan. 27, 2026 (GLOBE NEWSWIRE) -- The "Chillers Market Report 2026" has been added to ResearchAndMarkets.com's offering. The report offers a comprehensive analysis of industry statistics, covering market size, regional shares, competitive landscape, and future opportunities.

The global chillers market is witnessing substantial growth, marked by an increase in size from $10.94 billion in 2025 to $13.3 billion by 2030, reflecting a robust compound annual growth rate (CAGR) of 4%. This positive trend is driven by rising demand for energy-efficient and sustainable cooling solutions, alongside significant advancements in digital monitoring and smart temperature management systems. The sector's expansion is further fueled by the escalating adoption of air-cooled and water-cooled chillers across commercial, industrial, and residential applications. Additionally, the integration of screw and centrifugal compressors is contributing to market developments.

Key growth drivers include the burgeoning food and beverage industry, which relies heavily on chillers for precise temperature management in food processing, storage, and transportation. In Europe, the savoury snacks market alone reached a retail value of approximately €40 billion in 2023, underscoring the demand for efficient cooling solutions. Accordingly, the chillers market is evolving to support this sector with enhanced capabilities.

Prominent companies are investing strategically in innovative technologies to maintain a competitive edge. Notably, Tecogen Inc. launched the Tecochill Hybrid-Drive air-cooled chiller in 2023, a pioneering product that combines natural gas and electricity to achieve significant energy efficiency and cost reductions. Similarly, Schneider Electric, aiming to strengthen its position in the data center value chain, acquired Motivair Corporation in 2024 to leverage specialized liquid cooling technologies.

Major industry players in the chillers market include Carrier Corporation, Daikin Industries Ltd., Trane Technologies plc, Johnson Controls International plc, Mitsubishi Electric Corporation, and more. These companies are focusing on developing cutting-edge solutions to enhance their market presence.

Despite its impressive growth trajectory, the chillers industry is subject to challenges such as fluctuating trade relations and tariffs, impacting costs for imported components. However, this situation is also stimulating innovations in local manufacturing and energy-efficient solutions, demonstrating the sector's resilience and adaptability.

Report Scope

Markets Covered:

Subsegments:

Companies Mentioned: Carrier Corporation, Daikin Industries Ltd., Trane Technologies plc, Hitachi Air Conditioning Company Ltd., Johnson Controls International plc, and more.

Regions: Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Time Series: Five years historic and ten years forecast.

Data: Ratios of market size to related markets, GDP proportions.

Key Attributes

The companies featured in this Chillers market report include:

For more information about this report visit https://www.researchandmarkets.com/r/phvzbb

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ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

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