Chillers market forecast tops $13 billion by 2030

The Business Research Company says the global chillers market will surpass $13 billion in 2030, led by Asia-Pacific and China as demand rises for energy-efficient cooling across data centers, industrial sites and commercial buildings. Air-cooled chillers are expected to remain the biggest product segment as HVAC replacement and infrastructure buildout accelerate.

Why it matters: - The chillers market is on track to exceed $13 billion by 2030, signaling steady demand for cooling equipment across commercial, industrial and infrastructure projects. - Growth in chillers also tracks broader spending in air-conditioning equipment and the machinery sector, where chillers remain a small but important slice of the market. - Energy efficiency, data-center expansion and urban construction are becoming the main demand drivers.

What happened: - The Business Research Company published its Chillers Global Market Report 2026 – Market Size, Trends, And Forecast 2026-2035 on July 14, 2026. - The report forecasts the global chillers market will surpass $13 billion in 2030. - The report estimates the parent air-conditioning equipment market at about $273 billion by 2030. - The report places the broader machinery industry at $5,280 billion by 2030. - The report says chillers will represent around 5% of the air-conditioning equipment market and nearly 0.2% of the machinery market.

The details: - Asia-Pacific is expected to be the largest region in 2030, with a market value of $6.4 billion. - Asia-Pacific chillers demand is projected to rise from $5.0 billion in 2025 to $6.4 billion in 2030, a 5% CAGR. - China is expected to be the largest country market in 2030, at $3.4 billion. - China’s market is projected to grow from $2.8 billion in 2025 to $3.4 billion in 2030, a 4% CAGR. - The largest product segment in 2030 is expected to be air-cooled chillers, at 58% of the market or about $8 billion. - The report says air-cooled chillers benefit from lower installation and maintenance needs than water-cooled systems. - The report also points to growing adoption in commercial buildings and small industrial facilities. - Other support for air-cooled chillers includes demand for compact systems, lower water use, environmentally friendly refrigerants and energy-optimization technologies. - The market is also segmented by power range into less than 50 kW, 50-200 kW and more than 200 kW. - The market is segmented by compressor type into screw, centrifugal, absorption and reciprocating chillers. - The market is segmented by end user into commercial, industrial and residential. - The expected CAGR for the global chillers market through 2030 is 4%. - Rising demand for energy-efficient cooling systems is projected to add 2.5% annual growth. - Expansion of data centers, healthcare and industrial facilities is projected to add around 2.2% annual growth. - Increasing urbanization and commercial infrastructure development is projected to add about 1.8% annual growth. - The report says the biggest growth opportunities in 2030 are likely to be in air-cooled and water-cooled chillers. - Those two segments are expected to add more than $2 billion in combined market value by 2030. - The report projects the air-cooled chiller market will grow by $1 billion from 2025 to 2030. - The report projects the water-cooled chiller market will also grow by $1 billion over the same period.

Between the lines: - The forecast reflects a market being pulled by structural cooling needs, not just cyclical demand. - Data centers, semiconductor manufacturing, cold storage and healthcare are increasingly tied to chiller demand because they need continuous temperature control. - The emphasis on energy-efficient and low-emission systems suggests buyers are prioritizing operating cost savings and sustainability compliance. - The report’s strongest regional numbers point to Asia-Pacific as the center of future chiller demand, with China the single largest national market.

What's next: - The Business Research Company says its 2026 reports include market attractiveness scoring, TAM analysis, company scoring matrix graphics, Excel-based forecasting dashboards and updated trend graphics. - The company also offers a free sample report and the full chillers market report. - The firm says the next phase of growth will be shaped by adoption of variable-speed compressors, smart monitoring systems and replacement of aging HVAC infrastructure.

The bottom line: - Chillers are moving from a niche equipment category to a steady-growth market anchored by urbanization, digital infrastructure and efficiency-driven cooling upgrades.