Centrifugal Chillers Market Increasing Demand, Growth Analysis and Future Outlook by 2031

Centrifugal chillers market is anticipated to grow at a moderate CAGR of 3.5% during the forecast period (2024-2031). The market growth is driven by the rising demand of chillers in the end-user industries, such as hospitals, hotels, manufacturing plants and more. The market growth in the industrial sector is attributed to the lower energy usage and higher energy efficiencies offered by centrifugal chillers. The growing industrialization in the developing economies, due to supporting government policies is also expanding the need for thechillers. The benefits offered the chillers such as low procurement and maintenance cost, have also contributed to thedemand of chillers.

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In industrial environments, the purpose of a chiller is to provide precision temperature control to ensure safe, productive, and efficient working processes.  The rising demand for centrifugal chillers is also driven by growth in manufacturing industries across domains including pharmaceuticals, food & beverage, chemicals, and others. For instance, as per the International Trade Administration, by 2025, 84.0% of German manufacturers plan to invest $10.5 billion annually into smart manufacturing technologies, including the automotive industry at approx. $1.2 billion per year, machinery & equipment and plant engineering and construction at $1.5 billion, the electronics and microelectronics industry at approximately $817.0 million per year, and the metalworking industry at $424.0 million per year.  Further, 15 million employees are directly and indirectly involved in advanced manufacturing industries in Germany.

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  • Market Coverage

  • Market number available for – 2024-2031

  • Base year- 2024

  • Forecast period- 2024-2031

  • Segment Covered- By Source, By Product Type, By Applications

  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill

  • , and others


Global Centrifugal Chillers Market Report Segment

By Type

  • Air Cooled

  • Water Cooled


By Tonnage

  • Less than 1000

  • 1000 - 2000

  • More than 2000


By Industry

  • Food & Beverage

  • Pharmaceutical

  • Plastics

  • Chemicals &Petrochemicals

  • Data Centers

  • Others (Commercial, Rubber, etc.)


Global Centrifugal Chillers Market Report Segment by Region

North America

  • United States

  • copyright


Europe

  • UK

  • Germany

  • Italy

  • Spain

  • France

  • Rest of Europe


Asia-Pacific

  • China

  • India

  • Japan

  • South Korea

  • Rest of Asia-Pacific


Rest of the World

  • Latin America

  • The Middle East and Africa


The Report Covers 

  • Market value data analysis of 2023 and forecast to 2031.

  • Annualized market revenues ($ million) for each market segment.

  • Country-wise analysis of major geographical regions.

  • Key companies operating in the global centrifugal chillers market. Based on the availability of data, information related to new Type launches, and relevant news is also available in the report.

  • Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

  • Analysis of market-entry and market expansion strategies.

  • Competitive strategies by identifying ‘who-stands-where’ in the market.


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