Canada Chillers Market Size & Outlook, 2023-2030
Canada chillers market, 2018-2030 (US$M)
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Canada chillers market highlights
- The Canada chillers market generated a revenue of USD 262.3 million in 2023 and is expected to reach USD 347.3 million by 2030.
- The Canada market is expected to grow at a CAGR of 4.1% from 2024 to 2030.
- In terms of segment, water-cooled was the largest revenue generating by product in 2023.
- Air-Cooled is the most lucrative by product segment registering the fastest growth during the forecast period.
Chillers market data book summary
| Market revenue in 2023 | USD 262.3 million |
| Market revenue in 2030 | USD 347.3 million |
| Growth rate | 4.1% (CAGR from 2023 to 2030) |
| Largest segment | Water-cooled |
| Fastest growing segment | Air-Cooled |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Water-Cooled, Air-Cooled |
| Key market players worldwide | Trane Technologies PLC Class A, Carrier Global Corp Ordinary Shares, Daikin Industries Ltd, Johnson Controls International PLC, Rite-Hite, Air Products & Chemicals Inc, Honeywell International Inc, ClimaCool, Fluid Chillers, General Air Products, Rite-Temp |
Other key industry trends
- In terms of revenue, Canada accounted for 2.6% of the global chillers market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. chillers market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 176.0 million by 2030.
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Chillers Market Scope
Chillers Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada chillers market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to chillers market will help companies and investors design strategic landscapes.
Water-cooled was the largest segment with a revenue share of 59.44% in 2023. Horizon Databook has segmented the Canada chillers market based on water-cooled, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
According to the World Economic Outlook of the International Monetary Fund (IMF), the GDP growth rate of Canada was 4.6% in 2021 owing to improved trade terms of the country with its trade partners. Moreover, the reopening of the U.S. economy had a positive impact on the economy of Canada owing to the surging exchange of goods and services between both countries.
Chillers market in Canada is growing owing to the flourishing construction industry in the country. The growth of the construction industry in Canada can be attributed to the surged demand for residential, commercial, and industrial spaces in the country.
As per Statistics Canada, the Canadian government is actively promoting innovation in the construction industry through initiatives like the Housing Supply Challenge. With a budget of USD 300 million, this fund is aiding projects nationwide aimed at enhancing productivity within Canada's construction sector.
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada chillers market , including forecasts for subscribers. This country databook contains high-level insights into Canada chillers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada chillers market size, by by product, 2018-2030 (US$M)
Canada Chillers Market Outlook Share, 2023 & 2030 (US$M)
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