"Catapult Your Business to Fore, Gain Competitive Advantage "

Water Chiller Market Size, Share & Industry Analysis, By Type (Scroll, Screw, Centrifugal), By Capacity (0 – 100 Kw, 101 – 350 Kw, 351 – 700 Kw, >700 Kw) By Industry (Plastic & Rubber, Food & Beverage, Chemical & Petrochemical, Pharmaceuticals and Other) and Regional Forecast, 2019-2032

Last Updated: July 01, 2024 | Format: PDF | Report ID: FBI101990



Play Audio Listen to Audio Version

The global water chillers market size was valued at USD 5.07 billion in 2018 and is projected to reach USD 9.43 billion by 2032, exhibiting a CAGR of 4.4% during the forecast period. Asia Pacific dominated the water chillers market with a market share of 46.74% in 2018.

Water chiller refers to the mechanical device that is utilized to cool the water by removing heat. It has a water-cooled condenser that is connected with the cooling tower. The water chiller is installed internally, where there is an availability of sufficient water. Water chiller possess more efficiency than air conditioners. The primary reason behind this is, the thermal conductivity of water is 23 times more than air.

Growing demand for district cooling over the traditional cooling method is also fueling the water chiller market growth. In addition to this, the demand for water chillers is expected to increase in the developing countries in the near future.

The major application of water chiller is into the plastic & rubber and food and beverage industries and also in cooling equipment, assembly processes, etc.

Request a Free sample to learn more about this report.

Moreover, manufacturers are opting for mergers and acquisitions to maintain their position in the water-cooled chillers market. Also, they are introducing changes in the existing model to improve the performance in terms of high output and minimum sound emission. For instance, in April 2017, Daikin Industries, Ltd. launched its high-efficiency water-cooled screw chiller to handle the minimum emission of sound. Moreover, in 2018, Daikin Industries, Ltd. also launched a mini scroll chiller that removes cold and warm water to meet the heat recovery demands. Subsequently, in Europe, there are strict energy-saving regulations and high environmental awareness regarding emission sound.


“Adoption of Energy Efficient Cooling Solution in Water Chillers to Boost Growth”

In the early 1900s, the emergence of water chiller was due to the utilization of the first centrifugal chiller. The components such as, evaporator, condenser, compressor, and refrigerants such as, R-22, etc. are utilized in water chillers to keep the industrial operations in proper flow without hampering the cooling process. Key parameters such as, high thermal conductivity of water, lower maintenance cost, vibration-less operation and requirement of small space, are expected to fuel the adoption of energy-efficient cooling solutions. In the chemical & petrochemical industry, petrochemicals that flow through pipes require cooling to decrease the heating pressure. Moreover, in the plastic & rubber industry, water chiller assist in cooling the hot plastic that has been extruded or is blown away. It is one of the most important Water Chiller market trends that would accelerate growth.

For instance, in December 2018, Daikin Industries, Ltd. introduced the energy-saving free cooling for its R-32 chiller series with improved seasonal efficiency of up to 97%. Also, in April 2018, Blue star Ltd. introduced a wide range of water-cooled scroll chillers with R22, R407C, and R410A refrigerant options. The water chiller of 65 TR is incorporated with an optional tandem circuit, which increases the operating efficiency whenever the chiller operates under part-load conditions.


By Type Analysis

“Centrifugal Segment to Grow at a Higher CAGR Stoked by the Possession of Various Benefits”

Based on type, the market is classified into scroll, screw, and centrifugal water chiller.  Among these, centrifugal water chiller segment is anticipated to grow exponentially over the forecast period, owing to its low maintenance and manufacturing cost. Centrifugal chillers were introduced in the early 1900s by Mr. Willis Carrier. It was influenced by the tailor hydraulic air compressor. The technology grew rapidly.  Centrifugal chillers remove the heat from entering in the chilled water. For instance, Trane introduced Agility™, a water-cooled centrifugal chiller product line. Agility uses compact, high-performance, integrated, low charge (CHIL) evaporators that decrease the total chiller refrigerant charge by up to 25 percent.

To know how our report can help streamline your business, Speak to Analyst

The screw water chiller segment held the second-highest growth rate in 2018, owing to its positive displacement ability. In this types of chillers, a refrigerant is compressed by reducing the volume of the refrigerant chamber. The utilization of chiller in the plastic & rubber and chemical & petrochemical industries fuels the growth of this segment. Carrier Corporation’s AquaEdge 23 XRV chiller is the integrated variable speed water-cooled screw chiller that offers reliability to achieve high efficiency at operating conditions without compromising the environment.

The scroll water chiller segment is expected to exhibit a low CAGR as compared to the other segments. Therefore, the centrifugal water chillers segment is projected to showcase the highest CAGR in the near future.

By Capacity Analysis

“351 – 700 kW Segment to Acquire the Highest Share Backed by Rising Number of Shipments”

According to the present analytical results provided by the industry experts, water chiller having a capacity range of 351 – 700 kW is anticipated to witness the highest growth in terms of water chiller market share, owing to the number of shipments in the near future. Capacity range of 0 - 100 kW is projected to witness the second-highest market share, owing to the maximum number of shipments. Capacity range of >700 kW and 101 – 350 kW will have moderate and low market growth, respectively.

By Industry Analysis

“Plastic & Rubber Segment to Remain in Forefront Owing to Increasing Adoption of Chillers”

Based on industry type, the plastic & rubber industry is projected to have the highest market share. It is attributable to the wide utilization of water chillers for cooling the machineries that are involved in the manufacturing process of plastic products. The constant demand for plastic products across economies ensures the highest share.

The food & beverage industry is expected to have the second-highest market share, owing to the usage of low temperature for instantly freezing food before storage. The chemical & petrochemical industry is projected to showcase a moderate growth rate, owing to the high demand for chillers for cooling hot oil and chemicals.

The pharmaceutical industry is projected to experience a steady market growth over the forecast period, owing to the utilization of medical water chiller to manufacture drugs or to test drugs before launching them into the market. For instance, in February 2019, Trane, a business of Ingersoll Rand, launched the high-speed magnetic centrifugal chillers equipped with the advanced oil-free bearing compressor to bring down the operations cost. It has diverse benefits in various verticals of the market such as, data centers, pharmaceuticals, etc.


Revenue generated from the sales of water chillers across the Asia Pacific, Europe, North America, the Middle East and Africa, and Latin America is significantly increasing the Water Chiller market value.

Asia Pacific is anticipated to witness the highest CAGR in the near future, owing to the expansion of the industrial sector. Factors such as, increased awareness about energy-efficient products and increased consumption of frozen food are also complimenting the market growth.

In addition to this, key manufacturers are focusing on enhancing their businesses in the Asia Pacific as the region houses multiple ongoing industrial projects. For instance, in July 2019, Blue Star Ltd. won the order of air conditioning and tunnel ventilation system valued at nearly USD 2.83 billion from the Mumbai metro rail corporation. The project requires approximately 8,200 tons of refrigerator of water-cooled screw chillers, magnetic bearing chillers, chilled water, and condenser water pumps for tunnel ventilation, piping, and more.

Asia Pacific Water Chiller market Size, 2018 (USD Billion)

To get more information on the regional analysis of this market, Request a Free sample

Europe is anticipated to witness fast growth in the market, owing to the improved efficiency of water chiller and technological development of the product line. Also, the presence of prominent manufacturers, such as Carrier Corporation, Daikin Industries, Ltd., and Panasonic Corporation, are aiding the progress in the region.

North America is expected to showcase significant growth in the forecast period, owing to the adoption of water chiller in the food & beverage and petroleum industry. For instance, in September 2019, Trane, a subsidiary of Ingersoll Rand acquired the Artic Chiller Group to manufacture the high-efficient water-cooled magnetic bearing chillers for ventilation applications.

The Middle East and Africa and Latin America are expected to grow steadily over the forecast period. Countries such as, Brazil and Argentina are adopting water chiller products mainly in the petroleum industry.


      “Well Established Players Focus on Expanding their Product Line to Broaden Consumer Base

Major players such as Carrier Corporation, Trane, Johnson Controls, and Daikin Industries, Ltd. have gained a significant Water Chillers market revenue, which covers around 50% of the total market. Their dominance is owing to the strong customer base in the Asia Pacific and Europe. The companies are focusing on cost reduction, enhanced energy-saving performance, and expansion of their product line. Also, the key manufacturers are focusing more on water chiller for industrial utilization. For instance, in March 2018, Daikin launched the new generation, inverter-driven, water-cooled screw chillers with R-1233ze (E) refrigerator. This refrigerator allows minimizing the impact of global warming of screw compressor chillers equipped with high efficiency.  Moreover, in April 2017, Trane, a subsidiary of Ingersoll Rand, introduced the ‘Xstream eXcellent’ model to expand its water-cooled chiller portfolio and lower the environmental impact. It uses the R – 1234ze refrigerant, which has a global warming potential value of less than one when used in Xstream eXcellent model.

Moreover, key manufacturers have shifted their production units, particularly in India to ensure competitive prices.

List of Key Companies Profiled:


An Infographic Representation of Water Chiller market

To get information on various segments, share your queries with us

The water chiller market report presents a comprehensive assessment of the market by offering valuable insights, facts, industry-related information, and historical data. Several methodologies and approaches are adopted to make meaningful assumptions and views. Furthermore, the report offers a detailed analysis and information as per segments, helping our readers to get a comprehensive overview of the Water Chillers market. 

Report Scope & Segmentation



Study Period


Base Year


Forecast Period


Historical Period



  Value (USD billion)


By Type

  • Scroll

  • Screw

  • Centrifugal

By Capacity (In Kw)

  • >700

  • 351 – 700

  • 101 – 350

  • 0 - 100

By Industry

  • Plastic & Rubber

  • Food & Beverage

  • Chemical & Petrochemical

  • Pharmaceuticals

  • Other (Metal Forming, etc.)

By Region

  • North America (U.S. and Canada)

  • Europe (U.K., Germany, France, and the Rest of Europe)

  • Asia Pacific (China, India, South Korea, and the Rest of Asia Pacific)

  • Middle East & Africa (South Africa, GCC and the Rest of the Middle East & Africa)

  • Latin America (Brazil, Mexico, and the Rest of Latin America)


  • January 2018: Johnson Controls introduced YORK YZ magnetic bearing centrifugal chiller, the first fully optimized chiller for ultimate performance with low global warming potential refrigerant R-1233zd (E).

Frequently Asked Questions

Fortune Business Insights says that the global market stood at USD 5.07 billion in 2018.

In 2026, the global market is expected to be valued at USD 7.13 billion.

The global market is set to exhibit a compound annual growth rate (CAGR) of 4.4% in the forecast period (2019-2026).

Asia Pacific is anticipated to be the dominant region in the global Water Chiller market and is valued at USD 2.37 billion in 2018.

In the type criterion, the screw segment is expected to lead the Water Chiller market during the forecast period.

Adoption of energy-efficient cooling solutions is anticipated to drive the growth of the Water Chiller market.

Carrier Corporation, Daikin Industries, ltd., Trane, and Johnson Controls are the top players in the Water Chiller market.

The plastic & rubber industry is expected to hold the highest Water Chiller market share owing to the high-quality labelling and rising demand for packaged food.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts

Speak to an Expert
  • 2019-2032
    (In Process)
  • 2023
    (In Process)

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.