North America Chillers Market Forecast to 2030
North America Chillers Market Forecast to 2030 – Regional Analysis – by Technology (Air-Cooled, Water-Cooled, and Steam-Fired), Type (Process Chillers, Scroll Chillers, Screw Chillers, Centrifugal Chillers, Absorption Chillers, Modular Chillers, and Reverse Cycle Chillers), and Application (Commercial, Industrial, and Residential)
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Description
Economic Growth in Countries Across the World Drives North America Chillers Market
The improving economic conditions across the globe coupled with urbanization has led to the growth in the industrial sector. There has been a rise in the construction of medical centres, malls, complexes, hotels, commercial buildings, and manufacturing facilities, which propels the demand for HVAC chillers. Urbanization has changed the lifestyle of the people and increased the inclination towards safety and security. Technological developments along with the modifications in government and organizational regulations for temperature control contributes towards the growth of the Chiller market. Surging disposable income, temperature concerns, and spending on comfort and luxury are a few factors that drive the growth of the chillers market.
North America Chillers Market Overview
Chillers provide cooling in residential, industrial, and commercial places. Chillers provides air conditioning in buildings with the use of chilled water. Roof top chillers usually are air cooled whereas basement chillers are water cooled. The rising humidity concerns in both developed and developing countries, and surging demand for air conditioning systems for safety and comfort are boosting developments in the chiller market across the world. HVAC chillers are widely used across the industries such as pharmaceuticals, electronics & semiconductors, aerospace & defense, food & beverages, cold storage, turbine, and leather. Thus, increased preference for district cooling systems in industries and high-rise buildings is a major factor boosting the chillers market growth. Moreover, rising adoption of HVAC chillers in commercial spaces and residential sector, growing disposable income and rapid pace of urbanization, and continuous proliferation of tourism industries in different regions contribute to the chillers market growth. The construction of new hotels and public infrastructure adds to the demand for HVAC chillers. Green building projects and third-party data centers are among the significant trends creating promising opportunities for the chillers market players. Concerns such as global warming and climatic changes are also contributing to the growth of chillers market.
North America Chillers Market Revenue and Forecast to 2030 (US$ Million)
North America Chillers Market Segmentation
The North America chillers market is segmented into technology, type, application, and country.
Based on technology, the North America chillers market is segmented into air-cooled, water-cooled, and steam-fired. The air-cooled segment held the largest share of the North America chillers market in 2022.
In terms of type, the North America chillers market is segmented into process chillers, scroll chillers, screw chillers, centrifugal chillers, absorption chillers, modular chillers, and reverse cycle chillers. The screw chillers segment held the largest share of the North America chillers market in 2022.
Based on application, the North America chillers market is segmented into industrial, commercial, and residential. The industrial segment held the largest share of the North America chillers market in 2022.
Based on country, the North America chillers market is segmented into the US, Canada, and Mexico. The US dominated the North America chillers market in 2022.
LG Electronics Inc, Mitsubishi Electric Corp, Carrier Global Corp, Daikin Industries Ltd, Thermal Care, Inc, Trane Inc, Kaltra, Airedale International Air Conditioning Ltd, ClimaCool Corp, Multistack LLC, and WaterFurnace International Inc are some of the leading companies operating in the North America chillers market.
Summary Info
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According to the Research Team research, the North America chillers market was valued at US$ 2,223.88 million in 2022 and is expected to reach US$ 2,857.05 million by 2030, registering a CAGR of 3.2% from 2022 to 2030. Rising demand from various industries and increasing number of data centers are the critical factors attributed to the North America chillers market expansion.
Rise in the count of data centers is anticipated to drive the growth of chillers market in near future all over the world. Data centers need a lot of energy and the main driver of data center design engineers’ work is to offer reliable, energy-efficient, and cost-effective HVAC systems. The newest commercial chiller equipment provides proven reliability, competitive energy performance and integral controls in a modular package without the requirement for water. Efficiency is a crucial factor while selecting the chiller for the data center. So, when it comes to finalizing the chiller for this application, the selection of a unit having the right compressor is a primary task. In data centers, free cooling does not always need an extremely cold climate. Whenever the outdoor temperature is sufficient cold, these chillers turn off the compressors and take advantage of the favorable outdoor temperature. Now-a-days, many companies are outsourcing their data operations to the third-party providers which have got expertise in data center operations. Colocation data centers are particularly famous because they offer power, physical space, and cooling systems for local communication systems.
On the contrary, less efficiency in humid environment and high maintenance cost hamper the North America chillers market.
Based on technology, the North America chillers market is segmented into air-cooled, water-cooled, and steam-fired. The air-cooled segment held 51.9% share of North America chillers market in 2022, amassing US$ 1,154.28 million. It is projected to garner US$ 1,434.46 million by 2030 to expand at 2.8% CAGR during 2022-2030.
In terms of type, the North America chillers market is categorized into process chillers, scroll chillers, screw chillers, centrifugal chillers, absorption chillers, modular chillers, and reverse cycle chillers. The screw chillers segment held 39.1% share of North America chillers market in 2022, amassing US$ 868.75 million. It is projected to garner US$ 1,155.74 million by 2030 to expand at 3.6% CAGR during 2022-2030.
Based on application, the North America chillers market is segmented into industrial, commercial, and residential. The industrial segment held 51.4% share of North America chillers market in 2022, amassing US$ 1,143.73 million. It is projected to garner US$ 1,386.49 million by 2030 to expand at 2.4% CAGR during 2022-2030.
By country, the North America chillers market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 68.7% share of North America chillers market in 2022. It was assessed at US$ 1,528.40 million in 2022 and is likely to hit US$ 1,958.84 million by 2030, exhibiting a CAGR of 3.2% during 2022-2030.
Key players operating in the North America chiller market are LG Electronics Inc, Mitsubishi Electric Corp, Carrier Global Corp, Daikin Industries Ltd, Thermal Care, Inc, Trane Inc, Kaltra, Airedale International Air Conditioning Ltd, ClimaCool Corp, Multistack LLC, and WaterFurnace International Inc, among others.
In Apr 2021, TF Solutions is stocking Mitsubishi Electric products in all its branches. These products include e-series chillers, heat pumps, air handling units etc.
o Highlights key business priorities in order to assist companies to realign their business strategies.
o The key findings and recommendations highlight crucial progressive industry trends in North America chiller market, thereby allowing players across the value chain to develop effective long-term strategies.
o Develop modify business expansion plans by using substantial growth offering developed and emerging markets.
o Scrutinize in-depth North America market trends and outlook coupled with the factors driving the market, as well as those hindering it.
o Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing, and distribution.
TABLE OF CONTENTS
1.1 the Research Team Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. North America Chillers Market Landscape
4.1 Overview
4.2 PEST Analysis
4.2.1 North America
4.3 Ecosystem Analysis
5. North America Chillers Market – Key Industry Dynamics
5.1 Chillers Market – Key Industry Dynamics
5.2 Market Drivers
5.2.1 Rising Demand from Various Industries
5.2.2 Increasing Number of Data Centres to Boost Market Growth
5.3 Market Restraints
5.3.1 Less Efficiency in Humid Environment and High Maintenance Cost
5.4 Market Opportunities
5.4.1 Economic Growth in Developing Countries Across the World
5.5 Future Trends
5.5.1 Development of IoT enabled HVAC Chillers
5.6 Impact of Drivers and Restraints:
6. Chillers Market – North America Market Analysis
6.1 Chillers Market Revenue (US$ Million), 2022 – 2030
6.2 Chillers Market Forecast and Analysis
7. North America Chillers Market Analysis – Technology
7.1 Overview
7.1.1 Chillers Market, By Technology (2022 and 2030)
7.2 Air-Cooled
7.2.1 Overview
7.2.2 Air-Cooled Market, Revenue and Forecast to 2030 (US$ Million)
7.3 Water-Cooled
7.3.1 Overview
7.3.2 Water-Cooled Market, Revenue and Forecast to 2030 (US$ Million)
7.4 Steam-Fired
7.4.1 Overview
7.4.2 Steam-Fired Market Revenue and Forecast to 2030 (US$ Million)
8. North America Chillers Market Analysis – Type
8.1 Overview
8.1.1 North America Chillers Market, By Type (2022 and 2030)
8.2 Process Chillers
8.2.1 Overview
8.2.2 Process Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.3 Scroll Chillers
8.3.1 Overview
8.3.2 Scroll Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.4 Screw Chillers
8.4.1 Overview
8.4.2 Screw Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.5 Centrifugal Chillers
8.5.1 Overview
8.5.2 Centrifugal Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.6 Absorption Chillers
8.6.1 Overview
8.6.2 Absorption Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.7 Modular Chillers
8.7.1 Overview
8.7.2 Modular Chillers Market Revenue, and Forecast to 2030 (US$ Million)
8.8 Reverse Cycle Chillers
8.8.1 Overview
8.8.2 Reverse Cycle Chillers Market Revenue, and Forecast to 2030 (US$ Million)
9. North America Chillers Market Analysis – Application
9.1 Overview
9.1.1 North America Chillers Market, By Application (2022 and 2030)
9.2 Commercial
9.2.1 Overview
9.2.2 Commercial Market Revenue and Forecast to 2030 (US$ Million)
9.3 Industrial
9.3.1 Overview
9.3.2 Industrial Market Revenue and Forecast to 2030 (US$ Million)
9.4 Residential
9.4.1 Overview
9.4.2 Residential Market Revenue and Forecast to 2030 (US$ Million)
10. North America Chillers Market – Country Analysis
10.1 North America
10.1.1 Overview
10.1.2 North America Chillers Market, by key country Revenue 2022 (US$ Mn)
10.1.3 North America Chillers Market Revenue and Forecasts and Analysis – By Country
10.1.3.1 North America Chillers Market Revenue and Forecasts and Analysis – By Country
10.1.3.2 US Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.2.1 United States Chillers Market Breakdown by Technology
10.1.3.2.2 United States Chillers Market Breakdown by Type
10.1.3.2.3 United States Chillers Market Breakdown by Application
10.1.3.3 Canada Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.3.1 Canada Chillers Market Breakdown by Technology
10.1.3.3.2 Canada Chillers Market Breakdown by Type
10.1.3.3.3 Canada Chillers Market Breakdown by Application
10.1.3.4 Mexico Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
10.1.3.4.1 Mexico Chillers Market Breakdown by Technology
10.1.3.4.2 Mexico Chillers Market Breakdown by Type
10.1.3.4.3 Mexico Chillers Market Breakdown by Application
11. Company Profiles
11.1 LG Electronics Inc
11.1.1 Key Facts
11.1.2 Business Description
11.1.3 Products and Services
11.1.4 Financial Overview
11.1.5 SWOT Analysis
11.1.6 Key Developments
11.2 Mitsubishi Electric Corp
11.2.1 Key Facts
11.2.2 Business Description
11.2.3 Products and Services
11.2.4 Financial Overview
11.2.5 SWOT Analysis
11.2.6 Key Developments
11.3 Carrier Global Corp
11.3.1 Key Facts
11.3.2 Business Description
11.3.3 Products and Services
11.3.4 Financial Overview
11.3.5 SWOT Analysis
11.3.6 Key Developments
11.4 Daikin Industries Ltd
11.4.1 Key Facts
11.4.2 Business Description
11.4.3 Products and Services
11.4.4 Financial Overview
11.4.5 SWOT Analysis
11.4.6 Key Developments
11.5 Thermal Care, Inc.
11.5.1 Key Facts
11.5.2 Business Description
11.5.3 Products and Services
11.5.4 Financial Overview
11.5.5 SWOT Analysis
11.5.6 Key Developments
11.6 Trane Inc.
11.6.1 Key Facts
11.6.2 Business Description
11.6.3 Products and Services
11.6.4 Financial Overview
11.6.5 SWOT Analysis
11.6.6 Key Developments
11.7 Kaltra
11.7.1 Key Facts
11.7.2 Business Description
11.7.3 Products and Services
11.7.4 Financial Overview
11.7.5 SWOT Analysis
11.7.6 Key Developments
11.8 Airedale International Air Conditioning Ltd
11.8.1 Key Facts
11.8.2 Business Description
11.8.3 Products and Services
11.8.4 Financial Overview
11.8.5 SWOT Analysis
11.8.6 Key Developments
11.9 ClimaCool Corp
11.9.1 Key Facts
11.9.2 Business Description
11.9.3 Products and Services
11.9.4 Financial Overview
11.9.5 SWOT Analysis
11.9.6 Key Developments
11.10 Multistack LLC
11.10.1 Key Facts
11.10.2 Business Description
11.10.3 Products and Services
11.10.4 Financial Overview
11.10.5 SWOT Analysis
11.10.6 Key Developments
11.11 WaterFurnace International Inc
11.11.1 Key Facts
11.11.2 Business Description
11.11.3 Products and Services
11.11.4 Financial Overview
11.11.5 SWOT Analysis
11.11.6 Key Developments
12. Appendix
12.1 About the Research Team
LIST OF TABLES
Table 1. North America Chillers Market Segmentation
Table 2. Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Table 3. North America Chillers Market Revenue and Forecasts to 2030 (US$ Million) – Technology
Table 4. North America Chillers Market Revenue and Forecasts to 2030 (US$ Million) – Type
Table 5. North America Chillers Market Revenue and Forecasts to 2030 (US$ Million) – Application
Table 6. North America Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – By Country
Table 7. United States Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 8. United States Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 9. United States Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
Table 10. Canada Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 11. Canada Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 12. Canada Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
Table 13. Mexico Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Technology
Table 14. Mexico Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Type
Table 15. Mexico Chillers Market Revenue and Forecasts to 2030 (US$ Mn) – Application
LIST OF FIGURES
Figure 1. North America Chillers Market Segmentation, By Country
Figure 2. PEST Analysis
Figure 3. Ecosystem: Chillers market
Figure 4. Impact Analysis of Drivers and Restraints
Figure 5. Chillers Market Revenue (US$ Million), 2022 – 2030
Figure 6. North America Chillers Market Share (%) – Technology, 2022 and 2030
Figure 7. North America Air-Cooled Market Revenue and Forecasts to 2030 (US$ Million)
Figure 8. North America Water-Cooled Market Revenue and Forecasts to 2030 (US$ Million)
Figure 9. North America Steam-Fired Market Revenue and Forecasts to 2030 (US$ Million)
Figure 10. North America Chillers Market Share (%) – Type, 2022 and 2030
Figure 11. North America Process Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 12. North America Scroll Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 13. North America Screw Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 14. North America Centrifugal Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 15. North America Absorption Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 16. Modular Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 17. North America Reverse Cycle Chillers Market Revenue and Forecasts to 2030 (US$ Million)
Figure 18. North America Chillers market, By Application (2022 and 2030)
Figure 19. North America Commercial Market Revenue and Forecasts to 2030 (US$ Million)
Figure 20. North America Industrial Market Revenue and Forecasts to 2030 (US$ Million)
Figure 21. North America Residential Market Revenue and Forecasts to 2030 (US$ Million)
Figure 22. North America Chillers Market, by key Country – Revenue 2022 (US$ Mn)
Figure 23. Chillers Market Breakdown by Key Country, 2022 and 2030 (%)
Figure 24. US Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 25. Canada Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
Figure 26. Mexico Chillers Market Revenue and Forecasts to 2030 (US$ Mn)
The List of Companies – North America Chillers Market
1. LG Electronics Inc
2. Mitsubishi Electric Corp
3. Carrier Global Corp
4. Daikin Industries Ltd
5. Thermal Care, Inc.
6. Trane Inc.
7. Kaltra
8. Airedale International Air Conditioning Ltd
9. ClimaCool Corp
10. Multistack LLC
11. WaterFurnace International Inc
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