North America Chillers Market Size & Outlook, 2023-2030
North America chillers market, 2018-2030 (US$M)
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North America chillers market highlights
- The North America chillers market generated a revenue of USD 1,664.3 million in 2023.
- The market is expected to grow at a CAGR of 4.7% 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.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
North America data book summary
| Market revenue in 2023 | USD 1,664.3 million |
| Market revenue in 2030 | USD 2,292.0 million |
| Growth rate | 4.7% (CAGR from 2023 to 2030) |
| Largest segment | Water-cooled |
| Fastest growing segment | Air-Cooled |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, North America region accounted for 16.8% of the global chillers market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 6,494.4 million by 2030.
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Chillers Market Scope
Chillers Market Companies
| Name | Profile | # Employees | HQ | Website |
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North America 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 61.35% in 2023. Horizon Databook has segmented the North America chillers market based on water-cooled, air-cooled covering the revenue growth of each sub-segment from 2018 to 2030.
North America, led by the U.S., Canada, and Mexico accounted for a significant share in terms of revenue of the chillers market in 2023. The growth of the market in this region can be attributed to the expansion of urban areas, the presence of industrially developed countries, and the stringent implementation of rules and regulations in North America.
These regulations specify minimum performance requirements that chillers must meet to be sold or installed. For instance, the U.S. Department of Energy (DOE) sets efficiency standards for commercial and industrial chillers, encouraging the adoption of technologies that minimize energy consumption.
Moreover, with the rapid growth of residential and commercial buildings along with the introduction of Green Building Certification in the U.S. are expected to drive the market demand over the forecast period in North America.
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Horizon Databook provides a detailed overview of continent-level data and insights on the North America chillers market , including forecasts for subscribers. This continent databook contains high-level insights into North America chillers market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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North America chillers market size, by country, 2018-2030 (US$M)
North America Chillers Market Outlook Share, 2023 & 2030 (US$M)
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