Centrifugal Chiller Market to Reach $6 billion, Globally, by 2034 at 6% CAGR: Allied Market Research

WILMINGTON, Del., Oct. 16, 2025 /PRNewswire/ -- Allied Market Research published a report, titled, "Centrifugal Chiller Market by Capacity (Below 500 to 1,000 Tons, 1,001 to 2,000 Tons, and Above 2,000 Tons), Compressor Type (Single Stage, Two Stage, and Multi Stage), and End User (Chemicals and Petrochemicals, Food and Beverages, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2025-2034". According to the report, the "centrifugal chiller market" was valued at $3.4 billion in 2024, and is estimated to reach $6 billion by 2034, growing at a CAGR of 6% from 2025 to 2034.

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Prime determinants of growth

Centrifugal chillers are large-scale cooling systems that utilize centrifugal force for heat exchange and are widely used in HVAC systems across commercial buildings, industrial facilities, and data centers.

Rise in emphasis on green buildings, sustainable practices, and energy efficiency has boosted the adoption of centrifugal chillers that offer high cooling capacity with low energy consumption. Moreover, their ability to function efficiently under partial loads makes them ideal for variable demand settings in modern commercial infrastructure. However, high upfront installation and maintenance costs along with the need for skilled professionals to operate and maintain these systems restrain the market growth.

Report coverage & details:

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Trade War Scenario

• The ongoing trade tensions between major economies have created fluctuations in raw material prices and disrupted global supply chains, especially for critical components like compressors and refrigerants. These disruptions have temporarily affected the production schedules and cost structures for centrifugal chiller manufacturers. In addition, tariffs on imported components have increased the cost for end users, delaying procurement decisions in price-sensitive sectors

The "Above 2,000 Tons" Segment to Dominate the market during the forecase period

Based on capacity, the above 2,000 tons segment is poised to experience the fastest growth during the forecast period. This is largely driven by the growing deployment of large-scale cooling systems in applications such as district cooling plants, petrochemical complexes, and hyperscale data centers. The increasing emphasis on energy efficiency and the shift toward centralized cooling infrastructure in urban hubs is further propelling demand in this category.

The "Multi Stage" Segment to to Dominate the market during the forecase period

By compressor type, the multi stage segment is expected to register the strongest growth during the forecast period. This is attributed to their ability to deliver greater operational efficiency and performance stability in mission-critical environments such as pharmaceutical manufacturing, high-tech cleanrooms, and research laboratories.

The "Healthcare" Segment to to Dominate the market during the forecase period

By end-user industry, the healthcare segment is expected to emerge as one of the fastest-growing segment during the forecast period. Rise in demand for centrifugal chillers in the healthcare segment is fueled by expanding healthcare infrastructure, a growing emphasis on climate-controlled environments for medical equipment and pharmaceuticals, and rise in specialized treatment facilities that require precise thermal management.

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LAMEA to Lead Regional Growth

Regionally, the LAMEA (Latin America, Middle East, and Africa) region is projected to witness the fastest growth rate during the forecast period. This is driven by rise in urbanization, increase in investments in industrial infrastructure, and large-scale government-led cooling projects, particularly in the Middle East.

Meanwhile, Asia-Pacific remains the largest and most dynamic regional market, fueled by rapid industrialization, ongoing smart city developments, and high demand across commercial and manufacturing sectors. North America and Europe are also expected to witness steady growth, underpinned by sustainability mandates, retrofitting of older buildings, and investments in energy-efficient HVAC technologies.

Leading Market Players: 

• Johnson Controls
• Trane Technologies plc
• Daikin
• Haier
• Midea
• Smardt Chiller Group, Inc.
• Carrier
• MITSUBISHI HEAVY INDUSTRIES, LTD.
• LG Electronics
• TopChiller

The report provides a detailed analysis of these key players in the centrifugal chillers market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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Centrifugal Chiller Market Segments:

By Capacity

• Below 500 to 1,000 Tons
• 1,001 to 2,000 Tons
• Above 2,000 Tons

By Compressor Type

• Single Stage
• Two Stage
• Multi Stage

By End User

• Chemicals and petrochemicals
• Food and beverages
• Healthcare
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (UK, Germany, France, Italy, Rest of Europe)
• Asia-Pacific (China, Japan, India, Australia, Rest of Asia-Pacific)
• LAMEA (Latin America, Middle East, Africa)

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