Latest Update: Impact of current COVID-19 situation has been considered in this report while making the analysis.
Global Commercial HVAC Chillers Market by Type (Air-cooling, Water cooling), By Application (Hospitals, Schools, Shopping Centers, Office Building, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030-report

Global Commercial HVAC Chillers Market by Type (Air-cooling, Water cooling), By Application (Hospitals, Schools, Shopping Centers, Office Building, Others) And By Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast From 2022 To 2030

Report ID: 159270 3300 Machinery & Equipment 377 237 Pages 4.9 (34)

Market Overview:

The global commercial HVAC chillers market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The growth in this market can be attributed to the increasing demand for energy-efficient and environment-friendly cooling solutions across various end-use industries. Additionally, the growing construction industry is also expected to drive the demand for commercial HVAC chillers in the coming years. On the basis of type, air-cooling chillers are expected to dominate the global commercial HVAC chiller market during the forecast period, followed by water cooling chillers. Air cooled systems are more efficient and consume less power as compared to water cooled systems; hence, they are increasingly being adopted by various end users across different regions. On account of their high efficiency and low power consumption rates, air cooled systems are also preferred in applications such as hospitals and schools where there is a need for reliable yet energy-efficient cooling solutions. In terms of application, shopping centers are estimated to be one of fastest growing segments in terms of adoption rate for commercial HVAC Chillers over next few years owing rising consumerism around world with increase disposable income levels that fuels spending on malls & retail spaces which will require better climate control infrastructure .

Global Commercial HVAC Chillers Industry Outlook

Product Definition:

A chiller is a piece of commercial HVAC equipment that uses refrigerant to cool water or another liquid. This liquid is then circulated through the building's piping system to provide cooling for the air conditioning system. Commercial HVAC chillers are important because they provide an efficient and reliable way to cool large buildings.


The air-cooling concept is to remove heat from the equipment by allowing free flow of air around it. The concept was innovated by a French Physiologist, Henri Coanda in the early 20th century. It has been used for many years in various applications such as cooling towers and nuclear power plants.

Water cooling:

Water cooling is the process of removing heat from a system by using water or some other liquid as a medium for convection. The process is used in various applications such as data centers, power plants, and even household refrigeration. In the case of residential HVAC systems, it can be used to cool down a hot water dispenser or an electric hot-water tank.

Application Insights:

The commercial buildings application segment accounted for the largest revenue share of over 50% in 2017. The growth is attributed to the increasing construction activities in various industries, such as healthcare, retail and office space. Furthermore, demand for HVAC chillers is expected to increase due to rising investments by governments in infrastructure projects across the globe.

The shopping centers are projected to be one of the fastest-growing segments during forecast years owing to an increase in consumer spending on entertainment and recreational activities such as gymnasiums and swimming pools. In addition, growing urbanization along with a rise in disposable income levels has resulted in increased spending on products from fashion brands among other luxury goods at shopping malls around the world. This trend will positively influence market growth over next few years.

Regional Analysis:

Asia Pacific dominated the global commercial HVAC chillers market in 2016 and is expected to continue its dominance over the forecast period. The growth of this region can be attributed to increasing construction activities in emerging economies, such as China and India. In addition, rising demand for air-cooled chiller units in countries like Japan is anticipated to drive regional market growth during the forecast period.

The Asia Pacific was followed by North America with a share of over 20% in 2016 owing to presence of prominent players operating within this region along with high consumer awareness regarding energy conservation practices associated with cooling equipment installation. Furthermore, growing adoption rate of technologically advanced products for energy conservation purposes is further expected boost regional product demand during the forecast period.

Europe also held a significant share within global commercial HVAC chillers market on account of rising construction activities mainly driven by recovering economic conditions post recession which are likely to benefit product sales across this region particularly Germany and U.K.

Growth Factors:

  • Increasing demand for energy-efficient chillers in the commercial sector
  • Growing popularity of variable refrigerant flow (VRF) technology
  • Proliferation of data centers and other large commercial buildings
  • Rising awareness about the benefits of chilled water systems over traditional air conditioning systems
  • Emerging markets in Asia Pacific and Latin America presenting opportunities for growth

Scope Of The Report

Report Attributes

Report Details

Report Title

Commercial HVAC Chillers Market Research Report

By Type

Air-cooling, Water cooling

By Application

Hospitals, Schools, Shopping Centers, Office Building, Others

By Companies

Trane, Johnson Controls - Hitachi, Carrier, Mitsubshi, LG Electronics, Daikin, DunAn, Dunham-Bush, TICA, Bosch, Ebara, Lennox

Regions Covered

North America, Europe, APAC, Latin America, MEA

Base Year


Historical Year

2019 to 2020 (Data from 2010 can be provided as per availability)

Forecast Year


Number of Pages


Number of Tables & Figures


Customization Available

Yes, the report can be customized as per your need.

Global Commercial HVAC Chillers Market Report Segments:

The global Commercial HVAC Chillers market is segmented on the basis of:


Air-cooling, Water cooling

The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.


Hospitals, Schools, Shopping Centers, Office Building, Others

The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.

Some of the companies that are profiled in this report are:

  1. Trane
  2. Johnson Controls - Hitachi
  3. Carrier
  4. Mitsubshi
  5. LG Electronics
  6. Daikin
  7. DunAn
  8. Dunham-Bush
  9. TICA
  10. Bosch
  11. Ebara
  12. Lennox

Global Commercial HVAC Chillers Market Overview

Highlights of The Commercial HVAC Chillers Market Report:

  1. The market structure and projections for the coming years.
  2. Drivers, restraints, opportunities, and current trends of market.
  3. Historical data and forecast.
  4. Estimations for the forecast period 2030.
  5. Developments and trends in the market.
  6. By Type:

    1. Air-cooling
    2. Water cooling
  1. By Application:

    1. Hospitals
    2. Schools
    3. Shopping Centers
    4. Office Building
    5. Others
  1. Market scenario by region, sub-region, and country.
  2. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
  3. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
  4. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Commercial HVAC Chillers Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.

Regional Analysis

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.

The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.

How you may use our products:

  • Correctly Positioning New Products
  • Market Entry Strategies
  • Business Expansion Strategies
  • Consumer Insights
  • Understanding Competition Scenario
  • Product & Brand Management
  • Channel & Customer Management
  • Identifying Appropriate Advertising Appeals

Global Commercial HVAC Chillers Market Statistics

8 Reasons to Buy This Report

  1. Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
  2. Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
  3. Implemented Robust Methodology to Prepare the Report
  4. Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
  5. Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
  6. Provides Information About the Top-winning Strategies Implemented by Industry Players.
  7. In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
  8. Customization of the Report Available

Frequently Asked Questions?

Commercial HVAC Chillers are used to lower the temperature of a building's air. They work by using refrigerant to create a cold air stream that is then sent into the building. This cold air stream lowers the temperature of the air in the building, which helps reduce energy costs and improve comfort levels.

Some of the key players operating in the commercial hvac chillers market are Trane, Johnson Controls - Hitachi, Carrier, Mitsubshi, LG Electronics, Daikin, DunAn, Dunham-Bush, TICA, Bosch, Ebara, Lennox.

The commercial hvac chillers market is expected to grow at a compound annual growth rate of 5.5%.

1. Executive Summary

2. Assumptions and Acronyms Used

3. Research Methodology

4. Commercial HVAC Chillers Market Overview
   4.1. Introduction
      4.1.1. Market Taxonomy
      4.1.2. Market Definition
   4.2. Macro-Economic Factors
      4.2.1. Industry Outlook
   4.3. Commercial HVAC Chillers Market Dynamics
      4.3.1. Market Drivers
      4.3.2. Market Restraints
      4.3.3. Opportunity
      4.3.4. Market Trends
   4.4. Commercial HVAC Chillers Market - Supply Chain
   4.5. Global Commercial HVAC Chillers Market Forecast
      4.5.1. Commercial HVAC Chillers Market Size (US$ Mn) and Y-o-Y Growth
      4.5.2. Commercial HVAC Chillers Market Size (000’ Units) and Y-o-Y Growth
      4.5.3. Commercial HVAC Chillers Market Absolute $ Opportunity

5. Global Commercial HVAC Chillers Market Analysis and Forecast by Type
   5.1. Market Trends
   5.2. Introduction
      5.2.1. Basis Point Share (BPS) Analysis by Type
      5.2.2. Y-o-Y Growth Projections by Type
   5.3. Commercial HVAC Chillers Market Size and Volume Forecast by Type
      5.3.1. Air-cooling
      5.3.2. Water cooling
   5.4. Absolute $ Opportunity Assessment by Type
   5.5. Market Attractiveness/Growth Potential Analysis by Type

6. Global Commercial HVAC Chillers Market Analysis and Forecast by Application
   6.1. Market Trends
   6.2. Introduction
      6.2.1. Basis Point Share (BPS) Analysis by Application
      6.2.2. Y-o-Y Growth Projections by Application
   6.3. Commercial HVAC Chillers Market Size and Volume Forecast by Application
      6.3.1. Hospitals
      6.3.2. Schools
      6.3.3. Shopping Centers
      6.3.4. Office Building
      6.3.5. Others
   6.4. Absolute $ Opportunity Assessment by Application
   6.5. Market Attractiveness/Growth Potential Analysis by Application

7. Global Commercial HVAC Chillers Market Analysis and Forecast by Sales Channel
   7.1. Market Trends
   7.2. Introduction
      7.2.1. Basis Point Share (BPS) Analysis by Sales Channel 
      7.2.2. Y-o-Y Growth Projections by Sales Channel
   7.3. Commercial HVAC Chillers Market Size and Volume Forecast by Sales Channel 
      7.3.1. Manufacturer/Distributor/Service Provider
      7.3.2. Aftermarket
   7.4. Absolute $ Opportunity Assessment by Sales Channel
   7.5. Market Attractiveness/Growth Potential Analysis by Sales Channel

8. Global Commercial HVAC Chillers Market Analysis and Forecast by Region
   8.1. Market Trends
   8.2. Introduction
      8.2.1. Basis Point Share (BPS) Analysis by Region
      8.2.2. Y-o-Y Growth Projections by Region
   8.3. Commercial HVAC Chillers Market Size and Volume Forecast by Region
      8.3.1. North America
      8.3.2. Latin America
      8.3.3. Europe
      8.3.4. Asia Pacific
      8.3.5. Middle East and Africa (MEA)
   8.4. Absolute $ Opportunity Assessment by Region
   8.5. Market Attractiveness/Growth Potential Analysis by Region
   8.6. Global Commercial HVAC Chillers Demand Share Forecast, 2019-2026

9. North America Commercial HVAC Chillers Market Analysis and Forecast
   9.1. Introduction
      9.1.1. Basis Point Share (BPS) Analysis by Country
      9.1.2. Y-o-Y Growth Projections by Country
   9.2. North America Commercial HVAC Chillers Market Size and Volume Forecast by Country
      9.2.1. U.S.
      9.2.2. Canada
   9.3. Absolute $ Opportunity Assessment by Country
   9.4. North America Commercial HVAC Chillers Market Size and Volume Forecast by Application
      9.4.1. Hospitals
      9.4.2. Schools
      9.4.3. Shopping Centers
      9.4.4. Office Building
      9.4.5. Others
   9.5. Basis Point Share (BPS) Analysis by Application
   9.6. Y-o-Y Growth Projections by Application
   9.7. North America Commercial HVAC Chillers Market Size and Volume Forecast by Type
      9.7.1. Air-cooling
      9.7.2. Water cooling
   9.8. Basis Point Share (BPS) Analysis by Type
   9.9. Y-o-Y Growth Projections by Type
   9.10. Market Attractiveness/Growth Potential Analysis
      9.10.1. By Country
      9.10.2. By Product Type
      9.10.3. By Application
      9.10.4. By Sales Channel
   9.11. North America Commercial HVAC Chillers Demand Share Forecast, 2019-2026

10. Latin America Commercial HVAC Chillers Market Analysis and Forecast
   10.1. Introduction
      10.1.1. Basis Point Share (BPS) Analysis by Country
      10.1.2. Y-o-Y Growth Projections by Country
      10.1.3. Latin America Average Pricing Analysis
   10.2. Latin America Commercial HVAC Chillers Market Size and Volume Forecast by Country
      10.2.1. Brazil
      10.2.2. Mexico
      10.2.3. Rest of Latin America
   10.3. Absolute $ Opportunity Assessment by Country
   10.4. Latin America Commercial HVAC Chillers Market Size and Volume Forecast by Application
      10.4.1. Hospitals
      10.4.2. Schools
      10.4.3. Shopping Centers
      10.4.4. Office Building
      10.4.5. Others
   10.5. Basis Point Share (BPS) Analysis by Application
   10.6. Y-o-Y Growth Projections by Application
   10.7. Latin America Commercial HVAC Chillers Market Size and Volume Forecast by Type
      10.7.1. Air-cooling
      10.7.2. Water cooling
   10.8. Basis Point Share (BPS) Analysis by Type
   10.9. Y-o-Y Growth Projections by Type
   10.10. Market Attractiveness/Growth Potential Analysis
      10.10.1. By Country
      10.10.2. By Product Type
      10.10.3. By Application
      10.10.4. By Sales Channel
   10.11. Latin America Commercial HVAC Chillers Demand Share Forecast, 2019-2026

11. Europe Commercial HVAC Chillers Market Analysis and Forecast
   11.1. Introduction
      11.1.1. Basis Point Share (BPS) Analysis by Country
      11.1.2. Y-o-Y Growth Projections by Country
      11.1.3. Europe Average Pricing Analysis
   11.2. Europe Commercial HVAC Chillers Market Size and Volume Forecast by Country
      11.2.1. Germany
      11.2.2. France
      11.2.3. Italy
      11.2.4. U.K.
      11.2.5. Spain
      11.2.6. Russia
      11.2.7. Rest of Europe
   11.3. Absolute $ Opportunity Assessment by Country
   11.4. Europe Commercial HVAC Chillers Market Size and Volume Forecast by Application
      11.4.1. Hospitals
      11.4.2. Schools
      11.4.3. Shopping Centers
      11.4.4. Office Building
      11.4.5. Others
   11.5. Basis Point Share (BPS) Analysis by Application
   11.6. Y-o-Y Growth Projections by Application
   11.7. Europe Commercial HVAC Chillers Market Size and Volume Forecast by Type
      11.7.1. Air-cooling
      11.7.2. Water cooling
   11.8. Bsis Point Share (BPS) Analysis by Type
   11.9. Y-o-Y Growth Projections by Type
   11.10. Market Attractiveness/Growth Potential Analysis
      11.10.1. By Country
      11.10.2. By Product Type
      11.10.3. By Application
      11.10.4. By Sales Channel
   11.11. Europe Commercial HVAC Chillers Demand Share, 2019-2026

12. Asia Pacific Commercial HVAC Chillers Market Analysis and Forecast
   12.1. Introduction
      12.1.1. Basis Point Share (BPS) Analysis by Country
      12.1.2. Y-o-Y Growth Projections by Country
      12.1.3. Asia Pacific Average Pricing Analysis
   12.2. Asia Pacific Commercial HVAC Chillers Market Size and Volume Forecast by Country
      12.2.1. China
      12.2.2. Japan
      12.2.3. South Korea
      12.2.4. India
      12.2.5. Australia
      12.2.6. Rest of Asia Pacific (APAC)
   12.3. Absolute $ Opportunity Assessment by Country
   12.4. Asia Pacific Commercial HVAC Chillers Market Size and Volume Forecast by Application
      12.4.1. Hospitals
      12.4.2. Schools
      12.4.3. Shopping Centers
      12.4.4. Office Building
      12.4.5. Others
   12.5. Basis Point Share (BPS) Analysis by Application
   12.6. Y-o-Y Growth Projections by Application
   12.7. Asia Pacific Commercial HVAC Chillers Market Size and Volume Forecast by Type
      12.7.1. Air-cooling
      12.7.2. Water cooling
   12.8. Basis Point Share (BPS) Analysis by Type
   12.9. Y-o-Y Growth Projections by Type
   12.10. Market Attractiveness/Growth Potential Analysis
      12.10.1. By Country
      12.10.2. By Product Type
      12.10.3. By Application
      12.10.4. By Sales Channel
   12.11. Asia Pacific Commercial HVAC Chillers Demand Share, 2019-2026

13. Middle East & Africa Commercial HVAC Chillers Market Analysis and Forecast
   13.1. Introduction
      13.1.1. Basis Point Share (BPS) Analysis by Country
      13.1.2. Y-o-Y Growth Projections by Country
      13.1.3. Asia Pacific Average Pricing Analysis
   13.2. Middle East & Africa Commercial HVAC Chillers Market Size and Volume Forecast by Country
      13.2.1. Saudi Arabia
      13.2.2. South Africa
      13.2.3. UAE
      13.2.4. Rest of Middle East & Africa (MEA)
   13.3. Absolute $ Opportunity Assessment by Country
   13.4. Middle East & Africa Commercial HVAC Chillers Market Size and Volume Forecast by Application
      13.4.1. Hospitals
      13.4.2. Schools
      13.4.3. Shopping Centers
      13.4.4. Office Building
      13.4.5. Others
   13.5. Basis Point Share (BPS) Analysis by Application
   13.6. Y-o-Y Growth Projections by Application
   13.7. Middle East & Africa Commercial HVAC Chillers Market Size and Volume Forecast by Type
      13.7.1. Air-cooling
      13.7.2. Water cooling
   13.8. Basis Point Share (BPS) Analysis by Type
   13.9. Y-o-Y Growth Projections by Type
   13.10. Market Attractiveness/Growth Potential Analysis
      13.10.1. By Country
      13.10.2. By Product Type
      13.10.3. By Application
      13.10.4. By Sales Channel
   13.11. Middle East & Africa Commercial HVAC Chillers Demand Share, 2019-2026

14. Competition Landscape
   14.1. Global Commercial HVAC Chillers Market: Market Share Analysis
   14.2. Commercial HVAC Chillers Distributors and Customers
   14.3. Commercial HVAC Chillers Market: Competitive Dashboard
   14.4. Company Profiles (Details – Overview, Financials, Developments, Strategy) 
      14.4.1. Trane Overview Financials Developments Strategic Outlook
      14.4.2. Johnson Controls - Hitachi Overview Financials Developments Strategic Outlook
      14.4.3. Carrier Overview Financials Developments Strategic Outlook
      14.4.4. Mitsubshi Overview Financials Developments Strategic Outlook
      14.4.5. LG Electronics Overview Financials Developments Strategic Outlook
      14.4.6. Daikin Overview Financials Developments Strategic Outlook
      14.4.7. DunAn Overview Financials Developments Strategic Outlook
      14.4.8. Dunham-Bush Overview Financials Developments Strategic Outlook
      14.4.9. TICA Overview Financials Developments Strategic Outlook
      14.4.10. Bosch Overview Financials Developments Strategic Outlook
      14.4.11. Ebara Overview Financials Developments Strategic Outlook
      14.4.12. Lennox Overview Financials Developments Strategic Outlook
      14.4.13. COMPANY 13 Overview Financials Developments Strategic Outlook
      14.4.14. COMPANY 14 Overview Financials Developments Strategic Outlook
      14.4.15. COMPANY 15 Overview Financials Developments Strategic Outlook
      14.4.16. COMPANY 16 Overview Financials Developments Strategic Outlook
      14.4.17. COMPANY 17 Overview Financials Developments Strategic Outlook
      14.4.18. COMPANY 18 Overview Financials Developments Strategic Outlook
      14.4.19. COMPANY 19 Overview Financials Developments Strategic Outlook
      14.4.20. COMPANY 20 Overview Financials Developments Strategic Outlook

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