China Chillers Market Size & Outlook, 2023-2030
China chillers market, 2018-2030 (US$M)
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China chillers market highlights
- The China chillers market generated a revenue of USD 1,784.1 million in 2023 and is expected to reach USD 2,672.8 million by 2030.
- The China market is expected to grow at a CAGR of 5.9% 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 1,784.1 million |
| Market revenue in 2030 | USD 2,672.8 million |
| Growth rate | 5.9% (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, China accounted for 18.0% of the global chillers market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China chillers market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,672.8 million by 2030.
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Chillers Market Scope
Chillers Market Companies
| Name | Profile | # Employees | HQ | Website |
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China 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 61.58% in 2023. Horizon Databook has segmented the China chillers market based on water-cooled, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
The high urbanization rate reflects the growth in commercial, industrial, and residential building construction sectors. For example, in January 2022 Shanghai Pudong International Airport’s expansion entered into fourth phase and after completion of its expansion, the airport is likely to facilitate annual passenger throughput of 130 million passengers in 2030.
Such new commercial construction measures are likely to generate demand for cool air. Chillers are commonly used in commercial, industrial, and residential buildings to provide cooling for air conditioning systems. Hence with the growth in commercial construction, the demand for air conditioning system is likely to witness growth, which ultimately creating demand for chillers in the market.
China comes under the top 3 most populous countries in the world and its’ rapid economic growth has led to an increase in healthcare spending. Due to these factors the demand as well as manufacturing of various medicines is rising in China. Moreover, pharmaceutical companies are grabbing the Chinese market opportunities by showing confidence in the investment & expansion of their facilities in China.
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Our clientele includes a mix of chillers market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of country-level data and insights on the China chillers market , including forecasts for subscribers. This country databook contains high-level insights into China chillers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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China chillers market size, by by product, 2018-2030 (US$M)
China Chillers Market Outlook Share, 2023 & 2030 (US$M)
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