PUBLISHER: The Business Research Company | PRODUCT CODE: 1659160
PUBLISHER: The Business Research Company | PRODUCT CODE: 1659160
An industrial air chiller serves as a mechanism that absorbs heat from industrial process water and subsequently dissipates that heat into the surrounding air near the chiller unit.
Diverse types of industrial air chillers are available, such as centrifugal chillers, reciprocating chillers, scroll compressor chillers, and screwdriver chillers. Centrifugal chillers operate on the vapor compression cycle to efficiently cool water, generating large volumes of chilled water suitable for high-capacity cooling applications. They are commonly employed in district energy plants or various process plants. These chillers function in both stationery and transport capacities, finding use across multiple industries including food and beverage, pharmaceuticals, utility and power, oil and gas, among others.
The industrial air chillers market research report is one of a series of new reports from The Business Research Company that provides industrial air chillers market statistics, including industrial air chillers industry global market size, regional shares, competitors with an industrial air chillers market share, detailed industrial air chillers market segments, market trends and opportunities, and any further data you may need to thrive in the industrial air chillers industry. This industrial air chillers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The industrial air chiller market size has grown strongly in recent years. It will grow from $4.99 billion in 2024 to $5.24 billion in 2025 at a compound annual growth rate (CAGR) of 5.0%. The growth in the historic period can be attributed to incentives and rebates, geopolitical factors, maintenance practices, industry demand shifts, refrigerant regulations.
The industrial air chiller market size is expected to see strong growth in the next few years. It will grow to $6.51 billion in 2029 at a compound annual growth rate (CAGR) of 5.6%. The growth in the forecast period can be attributed to adoption of renewable energy, after-sales services, resilience to climate change, investment in R&D, replacement cycle, urbanization, and infrastructure development. Major trends in the forecast period include energy efficiency, environmental regulations, demand from end-use industries, urbanization and infrastructure development, focus on precision cooling.
The expanding pharmaceutical industry is anticipated to significantly boost the growth of the industrial air chiller market in the coming years. Pharmaceutical companies focus on the manufacturing and sale of medications for medical use, and industrial air chillers play a crucial role in the safe storage of medicines, drugs, and other chemicals within this sector. Consequently, the growth of the pharmaceutical industry will likely drive demand for air chillers. For example, in January 2023, the European Federation of Pharmaceutical Industries and Associations (EFPIA), a Belgium-based organization advocating for the pharmaceutical sector in Europe, reported a substantial increase in research and development (R&D) spending. This rose from $30.5 billion in 2020 to $46.5 billion in 2021 and further to $48.6 billion in 2022, indicating a significant rise in R&D investment in the pharmaceutical field. Thus, the continued expansion of the pharmaceutical industry is fueling the growth of the industrial air chiller market.
The growth of the food and beverage (F&B) industry is expected to significantly drive the industrial air chillers market in the coming years. The F&B sector is extensive and intricate, encompassing all aspects of the food production and distribution chain, from farming and processing to packaging, transportation, and retail sales. Industrial air chillers are essential in this industry, as they maintain precise temperatures during various production and storage stages. They are involved in cooling processes such as mixing, fermentation, and packaging, which ensures product quality and safety. Additionally, industrial air chillers extend the shelf life of perishable goods by regulating temperatures during storage and transportation, thereby preventing spoilage and preserving freshness. For instance, in August 2023, the Department of Economic Planning and Statistics from the Ministry of Finance and Economy in Brunei reported a significant year-on-year growth of 12.7% in the food and beverage sector in Q1 2023, following a remarkable 33.3% increase in Q4 2022. Thus, the ongoing expansion of the food and beverage industry is driving the growth of the industrial air chillers market.
Leading companies in the industrial air chiller market are concentrating on developing innovative products, such as brine chillers, to improve energy efficiency and lower operational costs for industrial applications. Brine chillers are specialized cooling systems that utilize a saltwater solution, or brine, as a refrigerant to absorb and transfer heat. These systems are widely used in industrial processes, food production, and HVAC systems due to their effectiveness in maintaining low temperatures. For example, in December 2023, Emicon, an India-based manufacturer of cooling solutions, introduced its new R290 brine chiller series. This series utilizes the environmentally friendly R290 refrigerant and is engineered for high energy efficiency and reliability. The new brine chillers are anticipated to serve various industrial applications, offering sustainable cooling solutions that feature advanced technology and a low environmental impact.
Major players within the industrial air chillers sector are focusing on innovative offerings like high-performance industrial process cooling chillers to gain a competitive edge. Carrier's launch of the AquaForce Vision 30KAV in March 2022 signifies this trend. This new line of industrial process cooling chillers, designed for sectors like food manufacturing and pharmaceuticals, utilizes environmentally friendly refrigerant R-1234ze, offering exceptional energy efficiency and compact design while aligning with Carrier's sustainability goals.
In December 2023, Trane Technologies, an Ireland-based company specializing in heating, ventilation, air conditioning, and refrigeration systems, acquired MTA for an undisclosed amount. This acquisition is anticipated to bolster Trane's product offerings and reinforce its market position within the HVAC industry. MTA, an Italian manufacturer, specializes in delivering advanced solutions for cooling and heating systems, aligning perfectly with Trane's dedication to sustainability and innovation.
Major companies operating in the industrial air chiller market are Johnson Controls International PLC, Mitsubishi Electric Corporation, Daikin Industries Ltd., Trane Technologies Company LLC, Carrier Global Corporation, Blue Star Limited, Airedale International Air Conditioning Ltd., Hiver Aircon Pvt. Ltd., GEM Orion Machinery Private Limited, Jiangsu Huazhao Refrigeration Equipment Co. Ltd., Fujitsu General Limited, Haier Group Corporation, Midea Group, Ingersoll Rand Inc., Panasonic Holdings Corporation, Hitema International S.r.l., HYDAC Technology GmbH, KKT chillers Inc., Lennox International Inc., LG Electronics Inc., MTA S.p.A., Multistack LLC, Parker-Hannifin Corporation, Process Cooling Systems Inc., Reynold India Pvt. Ltd., Rittal GmbH & Co. KG, Shanghai Shenglin M&E Technology Co. Ltd., Sterling HVAC Products, Thermal Care Inc., YORK International Corporation
North America was the largest region in the industrial air chiller market in 2024. The regions covered in the industrial air chiller market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the industrial air chiller market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The industrial air chiller market consists of sales of air-cooled chillers, vapor compressor chillers, and vapor absorption chillers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Industrial Air Chiller Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on industrial air chiller market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for industrial air chiller ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The industrial air chiller market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.