Japan Chillers Market Size & Outlook, 2023-2030
Japan chillers market, 2018-2030 (US$M)
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Japan chillers market highlights
- The Japan chillers market generated a revenue of USD 901.3 million in 2023 and is expected to reach USD 1,284.4 million by 2030.
- The Japan market is expected to grow at a CAGR of 5.2% 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 901.3 million |
| Market revenue in 2030 | USD 1,284.4 million |
| Growth rate | 5.2% (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, Japan accounted for 9.1% 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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Japan 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 61.63% in 2023. Horizon Databook has segmented the Japan chillers market based on water-cooled, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
Japanese construction sector has witnessed growth in terms of commencement of new commercial projects. For example, the Niseko hotel project started construction in the third quarter of 2023 and is likely to be completed in 2025. This project involves construction of a six-story hotel building on 1.17 ha of land. Such big commercial projects require proper air-cooling systems to supply cold air.
In addition to that, heavy investments by the Japanese private sector in skyscraper construction projects such as construction of Azabudai Hills Mori JP Tower and Nihonbashi 1-Chome Central District Redevelopment project, with a height of 330 and 284 meters respectively the demand for Chillers is likely to remain high.
In huge skyscrapers, it is very difficult to maintain the cold air supply through HVAC systems. The chillers are used in HVAC systems to supply cold air with reduced humidity. With the growing commercial construction spaces & rising demand for air conditioning, the demand for chillers to reduce the temperature of air is anticipated to grow over the forecast period.
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Horizon Databook provides a detailed overview of country-level data and insights on the Japan chillers market , including forecasts for subscribers. This country databook contains high-level insights into Japan chillers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Japan chillers market size, by by product, 2018-2030 (US$M)
Japan Chillers Market Outlook Share, 2023 & 2030 (US$M)
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