Malaysia Chillers Market Size & Outlook, 2023-2030

The chillers market in Malaysia is expected to reach a projected revenue of US$ 187.0 million by 2030. A compound annual growth rate of 3.7% is expected of Malaysia chillers market from 2024 to 2030.
Revenue, 2023 (US$M)
$145.4
Forecast, 2030 (US$M)
$187.0
CAGR, 2024 - 2030
3.7%
Report Coverage
Malaysia

Malaysia chillers market highlights

  • The Malaysia chillers market generated a revenue of USD 145.4 million in 2023 and is expected to reach USD 187.0 million by 2030.
  • The Malaysia market is expected to grow at a CAGR of 3.7% 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 2023USD 145.4 million
Market revenue in 2030USD 187.0 million
Growth rate3.7% (CAGR from 2023 to 2030)
Largest segmentWater-cooled
Fastest growing segmentAir-Cooled
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationWater-Cooled, Air-Cooled
Key market players worldwideTrane 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, Malaysia accounted for 1.5% 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 segmentation & scope
<50kW
51-100kW
101-500kW
501-1000kW
1001-1500kW
>1501kW
<50kW
51-100kW
101-500kW
501-1000kW
1001-1500kW
>1501kW
Corporate Offices
Data Centers
Public Buildings
Mercantile & Service
Healthcare
Others
Chemicals and Petrochemicals
Food & Beverage
Metal Manufacturing & Machining
Medical & Pharmaceutical
Plastics
Others
Residential
Screw Chillers
Centrifugal Chillers
Absorption Chillers
Scroll Chillers
Reciprocating Chillers

Chillers Market Companies

Name Profile # Employees HQ Website

Malaysia 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 56.88% in 2023. Horizon Databook has segmented the Malaysia chillers market based on water-cooled, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.


The Twelfth Malaysia Plan (2021-2025), a five-year development plan by the government, is expected to boost the number of construction projects. The growth of the construction sector is expected to be driven by increasing demand for affordable housing and investments by the private sector in the construction of industrial infrastructure.


According to the report published by the Malaysia Convention and Exhibition Bureau, Malaysia observed opening of nine new rebranded hotels. Further, new 4 hotels are likely to start their operation in the upcoming years.


Malaysia's expanding tourism and hospitality sector contributes significantly to the demand for chillers. Hotels, resorts, restaurants, and entertainment venues require reliable and efficient cooling solutions to ensure visitors' comfortable and inviting atmosphere. The growth in industrialization and urbanization in Malaysia is driving the growth of the chillers market in the country.

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Target buyers of Malaysia chillers market databook

  • Our clientele includes a mix of chillers market companies, investment firms, advisory firms & academic institutions.
  • 30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
  • Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Malaysia chillers market , including forecasts for subscribers. This country databook contains high-level insights into Malaysia chillers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.

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Malaysia chillers market size, by by product, 2018-2030 (US$M)

Malaysia Chillers Market Outlook Share, 2023 & 2030 (US$M)

Malaysia chillers market size, by by product, 2018-2030 (US$M)

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