Centrifugal Chiller Refrigerants

Global Centrifugal Chiller Refrigerants Market to Reach US$5.2 Billion by 2030

The global market for Centrifugal Chiller Refrigerants estimated at US$4.2 Billion in the year 2024, is expected to reach US$5.2 Billion by 2030, growing at a CAGR of 3.6% over the analysis period 2024-2030. Single Stage Compressors, one of the segments analyzed in the report, is expected to record a 4.3% CAGR and reach US$3.2 Billion by the end of the analysis period. Growth in the Multistage Compressors segment is estimated at 2.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$1.2 Billion While China is Forecast to Grow at 6.9% CAGR

The Centrifugal Chiller Refrigerants market in the U.S. is estimated at US$1.2 Billion in the year 2024. China, the world`s second largest economy, is forecast to reach a projected market size of US$1.1 Billion by the year 2030 trailing a CAGR of 6.9% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.4% and 2.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.1% CAGR.

Global Centrifugal Chiller Refrigerants Market - Key Trends & Drivers Summarized

How Are Centrifugal Chiller Refrigerants Revolutionizing Cooling Systems?

Centrifugal chiller refrigerants are a crucial component of large-scale cooling systems used in commercial buildings, industrial facilities, and district cooling applications. These refrigerants are vital in maintaining energy efficiency and operational performance, making them an essential part of modern HVAC systems. With the increasing demand for high-capacity cooling solutions, the adoption of advanced centrifugal chiller refrigerants is on the rise, ensuring enhanced thermal efficiency and reduced environmental impact. Stricter environmental regulations targeting refrigerant emissions have led to a significant shift toward low-global warming potential (GWP) and non-ozone depleting refrigerants. The transition from conventional hydrofluorocarbon (HFC) refrigerants to next-generation alternatives, such as hydrofluoroolefins (HFOs) and natural refrigerants like ammonia and CO2, is transforming the centrifugal chiller market. This transition is critical for meeting international sustainability goals and improving compliance with evolving regulatory frameworks.

Why Is the Demand for Centrifugal Chiller Refrigerants Growing?

The rising demand for energy-efficient cooling solutions in commercial and industrial sectors is a key driver behind the growth of the centrifugal chiller refrigerants market. Increasing urbanization, expanding data centers, and the need for efficient climate control in commercial buildings are contributing to the surge in adoption. Businesses are prioritizing refrigerants that offer improved thermodynamic properties, reduce operational costs, and comply with stringent environmental regulations. Furthermore, advancements in chiller technology, including the development of magnetic bearing compressors and variable-speed drive technology, are optimizing refrigerant performance and efficiency. As companies focus on sustainability and cost-effectiveness, the market for high-performance centrifugal chiller refrigerants is expected to witness steady growth. Additionally, the growing adoption of district cooling systems, particularly in urban centers, is further fueling the demand for advanced refrigerant solutions.

Which Regions Are Leading the Centrifugal Chiller Refrigerants Market?

North America and Europe are at the forefront of the centrifugal chiller refrigerants market due to strict environmental policies and strong investments in energy-efficient cooling solutions. The United States, Canada, and several European countries are actively transitioning to low-GWP refrigerants to meet the Paris Agreement and other sustainability goals. The presence of leading HVAC manufacturers and government incentives for eco-friendly refrigeration technologies further support market expansion in these regions. Asia-Pacific is emerging as a rapidly growing market, driven by increased industrialization, infrastructure development, and rising demand for cooling in commercial and residential sectors. Countries such as China, India, and Japan are investing heavily in sustainable cooling solutions to accommodate their growing urban populations. Meanwhile, the Middle East is witnessing an upsurge in demand for centrifugal chiller refrigerants due to extreme climatic conditions and the need for large-scale cooling applications in commercial complexes and industrial facilities.

What Are the Key Factors Driving Market Growth?

The growth in the centrifugal chiller refrigerants market is driven by several factors, including regulatory mandates for environmentally friendly refrigerants, the growing demand for energy-efficient cooling solutions, and technological advancements in chiller design. The transition to low-GWP refrigerants, influenced by the Kigali Amendment to the Montreal Protocol, is reshaping the market landscape and accelerating the adoption of sustainable alternatives. Moreover, the expansion of smart buildings, data centers, and industrial cooling applications is fueling the demand for high-performance refrigerants that offer superior efficiency and reliability. Increased investment in research and development (R&D) for next-generation refrigerants and advancements in heat exchange technologies are further contributing to market expansion. As industries continue to prioritize sustainability and operational efficiency, the centrifugal chiller refrigerants market is poised for consistent growth in the coming years.

SCOPE OF STUDY:

The report analyzes the Centrifugal Chiller Refrigerants market in terms of units by the following Segments, and Geographic Regions/Countries:

Segments:
Compressor Type (Single Stage Compressors, Multistage Compressors); End-Use (Oil and Gas End-Use, Power Sector End-Use, Chemical End-Use, Food and Beverages End-Use, Electronics and Electrical End-Use, Other End-Uses)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 44 Featured) -

• A-Gas
• Air Liquide S.A.
• Arkema S.A.
• Baltimore Aircoil Company
• Carrier Global Corporation
• Chemours Company
• Daikin Industries Ltd.
• Danfoss Group
• Dongyue Group
• Emerson Electric Co.
• Enex Technologies
• Evapco, Inc.
• Frigo Group
• GEA Group AG
• Gujarat Fluorochemicals Limited
• Hitachi Cooling & Heating
• Honeywell International Inc.
• Johnson Controls International plc
• Kirloskar Chillers Pvt. Ltd.
• Koura Global

TARIFF IMPACT FACTOR

Our new release incorporates impact of tariffs on geographical markets as we predict a shift in competitiveness of companies based on HQ country, manufacturing base, exports and imports (finished goods and OEM). This intricate and multifaceted market reality will impact competitors by artificially increasing the COGS, reducing profitability, reconfiguring supply chains, amongst other micro and macro market dynamics.

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We expect this chaos to play out over the next 2-3 months and a new world order is established with more clarity. We are tracking these developments on a real time basis.

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APRIL 2025: NEGOTIATION PHASE

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JULY 2025 FINAL TARIFF RESET

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JAPAN
INDIA
176 OTHER COUNTRIES.

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