
North America Chiller Market Report and Forecast 2025-2034
Description
The North America chiller market reached around USD 2.58 Billion in 2024. The market is projected to grow at a CAGR of 4.10% between 2025 and 2034, reaching almost USD 3.86 Billion by 2034.
North America Chiller Market Growth
As per the US Energy Information Administration, the demand for household cooling within the United States is expected to register a 71% growth by 2050. States like Texas, Arizona, Florida, Nevada, and Utah are experiencing a significant growth in the number of CDD (cooling degree days), which refers to the minimum cooling required to maintain indoor temperature.
Driven by climate change and rising global temperatures, the cooling requirements of commercial establishments are also expected to record a growth of 30% by 2050. The Inflation Reduction Act is expected to subsidise the adoption of heat pumps, which minimise carbon emissions and are relatively more eco-friendly than existing HVAC systems. This is expected to drive the demand for cost-effective chillers in the coming years.
With the Environmental Protection Agency’s increasing emphasis on minimising the use of hydrocarbons, major manufacturers are developing refrigerant-free chillers which utilise Peltier technology to provide heating and cooling effects simultaneously. Moreover, consumers are exhibiting an increasing preference for NRTL-certified electrical products in the region, which is prompting chiller manufacturing companies to develop state-of-the-art testing facilities to ensure their products adhere to the highest quality standards. Modern chillers are also expected to witness a surge in demand from the food processing industry, which is growing at a faster rate than the overall US economy.
North America Chiller Industry Segmentation
North America Chiller Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type of Cooling
Water Cooled
Air Cooled
Market Breakup by Compressor Type
Screw Chillers
Scroll Chillers
Reciprocating Chillers
Centrifugal Chillers
Absorption Chillers
Market Breakup by End Use
Food and Beverage
Chemicals and Petrochemicals
Medical and Pharmaceutical
Plastics
Others
Market Breakup by Country
United States
Canada
North America Chiller Market Share
Based on type of cooling, the market is divided into water-cooled and air-cooled chillers. Over the forecast period, water-cooled chillers are projected to grow at a CAGR of 4.3% during 2025-2034 as they deliver a comparatively higher energy-efficient performance (15%) than air-cooled chillers.
Leading Companies in the North America Chiller Market
Major market players are shifting towards the usage of low GWP (global warming potential) refrigerants in their products, which is lowering their carbon footprint and driving sustainability within production practices.
Daikin Industries Ltd.
Carrier Global Corp.
LG Corp.
Johnson Controls International Plc
Trane Technologies Plc
Fluid Chillers, Inc.
Panasonic Holdings Corp.
Mitsubishi Electric Corporation
Midea Group Co. Ltd.
HYDAC International GmbH
Others
North America Chiller Market Growth
As per the US Energy Information Administration, the demand for household cooling within the United States is expected to register a 71% growth by 2050. States like Texas, Arizona, Florida, Nevada, and Utah are experiencing a significant growth in the number of CDD (cooling degree days), which refers to the minimum cooling required to maintain indoor temperature.
Driven by climate change and rising global temperatures, the cooling requirements of commercial establishments are also expected to record a growth of 30% by 2050. The Inflation Reduction Act is expected to subsidise the adoption of heat pumps, which minimise carbon emissions and are relatively more eco-friendly than existing HVAC systems. This is expected to drive the demand for cost-effective chillers in the coming years.
With the Environmental Protection Agency’s increasing emphasis on minimising the use of hydrocarbons, major manufacturers are developing refrigerant-free chillers which utilise Peltier technology to provide heating and cooling effects simultaneously. Moreover, consumers are exhibiting an increasing preference for NRTL-certified electrical products in the region, which is prompting chiller manufacturing companies to develop state-of-the-art testing facilities to ensure their products adhere to the highest quality standards. Modern chillers are also expected to witness a surge in demand from the food processing industry, which is growing at a faster rate than the overall US economy.
North America Chiller Industry Segmentation
North America Chiller Market Report and Forecast 2025-2034 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type of Cooling
Water Cooled
Air Cooled
Market Breakup by Compressor Type
Screw Chillers
Scroll Chillers
Reciprocating Chillers
Centrifugal Chillers
Absorption Chillers
Market Breakup by End Use
Food and Beverage
Chemicals and Petrochemicals
Medical and Pharmaceutical
Plastics
Others
Market Breakup by Country
United States
Canada
North America Chiller Market Share
Based on type of cooling, the market is divided into water-cooled and air-cooled chillers. Over the forecast period, water-cooled chillers are projected to grow at a CAGR of 4.3% during 2025-2034 as they deliver a comparatively higher energy-efficient performance (15%) than air-cooled chillers.
Leading Companies in the North America Chiller Market
Major market players are shifting towards the usage of low GWP (global warming potential) refrigerants in their products, which is lowering their carbon footprint and driving sustainability within production practices.
Daikin Industries Ltd.
Carrier Global Corp.
LG Corp.
Johnson Controls International Plc
Trane Technologies Plc
Fluid Chillers, Inc.
Panasonic Holdings Corp.
Mitsubishi Electric Corporation
Midea Group Co. Ltd.
HYDAC International GmbH
Others
Table of Contents
125 Pages
- 1 Executive Summary
- 1.1 Market Size 2024-2025
- 1.2 Market Growth 2025(F)-2034(F)
- 1.3 Key Demand Drivers
- 1.4 Key Players and Competitive Structure
- 1.5 Industry Best Practices
- 1.6 Recent Trends and Developments
- 1.7 Industry Outlook
- 2 Market Overview and Stakeholder Insights
- 2.1 Market Trends
- 2.2 Key Verticals
- 2.3 Key Countries
- 2.4 Supplier Power
- 2.5 Buyer Power
- 2.6 Key Market Opportunities and Risks
- 2.7 Key Initiatives by Stakeholders
- 3 Economic Summary
- 3.1 GDP Outlook
- 3.2 GDP Per Capita Growth
- 3.3 Inflation Trends
- 3.4 Democracy Index
- 3.5 Gross Public Debt Ratios
- 3.6 Balance of Payment (BoP) Position
- 3.7 Population Outlook
- 3.8 Urbanisation Trends
- 4 Country Risk Profiles
- 4.1 Country Risk
- 4.2 Business Climate
- 5 Global Chiller Market Overview
- 5.1 Key Industry Highlights
- 5.2 Global Chiller Historical Market (2018-2024)
- 5.3 Global Chiller Market Forecast (2025-2034)
- 5.4 Global Chiller Market Breakup by Region
- 5.4.1 North America
- 5.4.2 Europe
- 5.4.3 Asia Pacific
- 5.4.4 Latin America
- 5.4.5 Middle East and Africa
- 6 North America Chiller Market Overview
- 6.1 Key Industry Highlights
- 6.2 North America Chiller Historical Market (2018-2024)
- 6.3 North America Chiller Market Forecast (2025-2034)
- 7 North America Chiller Market by Type of Cooling
- 7.1 Water Cooled
- 7.1.1 Historical Trend (2018-2024)
- 7.1.2 Forecast Trend (2025-2034)
- 7.2 Air Cooled
- 7.2.1 Historical Trend (2018-2024)
- 7.2.2 Forecast Trend (2025-2034)
- 8 North America Chiller Market by Compressor Type
- 8.1 Screw Chillers
- 8.1.1 Historical Trend (2018-2024)
- 8.1.2 Forecast Trend (2025-2034)
- 8.2 Scroll Chillers
- 8.2.1 Historical Trend (2018-2024)
- 8.2.2 Forecast Trend (2025-2034)
- 8.3 Reciprocating Chillers
- 8.3.1 Historical Trend (2018-2024)
- 8.3.2 Forecast Trend (2025-2034)
- 8.4 Centrifugal Chillers
- 8.4.1 Historical Trend (2018-2024)
- 8.4.2 Forecast Trend (2025-2034)
- 8.5 Absorption Chillers
- 8.5.1 Historical Trend (2018-2024)
- 8.5.2 Forecast Trend (2025-2034)
- 9 North America Chiller Market by End Use
- 9.1 Food and Beverage
- 9.1.1 Historical Trend (2018-2024)
- 9.1.2 Forecast Trend (2025-2034)
- 9.2 Chemicals and Petrochemicals
- 9.2.1 Historical Trend (2018-2024)
- 9.2.2 Forecast Trend (2025-2034)
- 9.3 Medical and Pharmaceutical
- 9.3.1 Historical Trend (2018-2024)
- 9.3.2 Forecast Trend (2025-2034)
- 9.4 Plastics
- 9.4.1 Historical Trend (2018-2024)
- 9.4.2 Forecast Trend (2025-2034)
- 9.5 Others
- 10 North America Chiller Market by Country
- 10.1 United States
- 10.1.1 Historical Trend (2018-2024)
- 10.1.2 Forecast Trend (2025-2034)
- 10.2 Canada
- 10.2.1 Historical Trend (2018-2024)
- 10.2.2 Forecast Trend (2025-2034)
- 11 Market Dynamics
- 11.1 SWOT Analysis
- 11.1.1 Strengths
- 11.1.2 Weaknesses
- 11.1.3 Opportunities
- 11.1.4 Threats
- 11.2 Porter’s Five Forces Analysis
- 11.2.1 Supplier’s Power
- 11.2.2 Buyer’s Power
- 11.2.3 Threat of New Entrants
- 11.2.4 Degree of Rivalry
- 11.2.5 Threat of Substitutes
- 11.3 Key Indicators for Demand
- 11.4 Key Indicators for Price
- 12 Value Chain Analysis
- 13 Price Analysis
- 14 Competitive Landscape
- 14.1 Supplier Selection
- 14.2 Key Global Players
- 14.3 Key Regional Players
- 14.4 Key Player Strategies
- 14.5 Company Profiles
- 14.5.1 Daikin Industries Ltd.
- 14.5.1.1 Company Overview
- 14.5.1.2 Product Portfolio
- 14.5.1.3 Demographic Reach and Achievements
- 14.5.1.4 Certifications
- 14.5.2 Carrier Global Corp.
- 14.5.2.1 Company Overview
- 14.5.2.2 Product Portfolio
- 14.5.2.3 Demographic Reach and Achievements
- 14.5.2.4 Certifications
- 14.5.3 LG Corp.
- 14.5.3.1 Company Overview
- 14.5.3.2 Product Portfolio
- 14.5.3.3 Demographic Reach and Achievements
- 14.5.3.4 Certifications
- 14.5.4 Johnson Controls International Plc
- 14.5.4.1 Company Overview
- 14.5.4.2 Product Portfolio
- 14.5.4.3 Demographic Reach and Achievements
- 14.5.4.4 Certifications
- 14.5.5 Trane Technologies Plc
- 14.5.5.1 Company Overview
- 14.5.5.2 Product Portfolio
- 14.5.5.3 Demographic Reach and Achievements
- 14.5.5.4 Certifications
- 14.5.6 Fluid Chillers, Inc.
- 14.5.6.1 Company Overview
- 14.5.6.2 Product Portfolio
- 14.5.6.3 Demographic Reach and Achievements
- 14.5.6.4 Certifications
- 14.5.7 Panasonic Holdings Corp.
- 14.5.7.1 Company Overview
- 14.5.7.2 Product Portfolio
- 14.5.7.3 Demographic Reach and Achievements
- 14.5.7.4 Certifications
- 14.5.8 Mitsubishi Electric Corporation
- 14.5.8.1 Company Overview
- 14.5.8.2 Product Portfolio
- 14.5.8.3 Demographic Reach and Achievements
- 14.5.8.4 Certifications
- 14.5.9 Midea Group Co. Ltd.
- 14.5.9.1 Company Overview
- 14.5.9.2 Product Portfolio
- 14.5.9.3 Demographic Reach and Achievements
- 14.5.9.4 Certifications
- 14.5.10 HYDAC International GmbH
- 14.5.10.1 Company Overview
- 14.5.10.2 Product Portfolio
- 14.5.10.3 Demographic Reach and Achievements
- 14.5.10.4 Certifications
- 14.5.11 Others
Pricing
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