Malaysia Chillers Market Size & Outlook, 2023-2030
Malaysia chillers market, 2018-2030 (US$M)
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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 2023 | USD 145.4 million |
| Market revenue in 2030 | USD 187.0 million |
| Growth rate | 3.7% (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, 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 Companies
| Name | Profile | # Employees | HQ | Website |
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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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Our clientele includes a mix of chillers market companies, investment firms, advisory firms & academic institutions.
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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)
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