US Chillers Market to Grow from USD 1.57 Billion in 2026 to USD 1.93 Billion by 2031, at a CAGR of 4.2% — MarketsandMarkets™
Delray Beach, FL, July 06, 2026 (GLOBE NEWSWIRE) -- MarketsandMarkets™ projects that the US Chillers Market will grow from USD 1.57 billion in 2026 to USD 1.93 billion by 2031, registering a CAGR of 4.2% during the forecast period. Growth is primarily driven by increasing construction activities across commercial, industrial, and residential sectors, rising demand for energy-efficient HVAC systems, expanding data center infrastructure, and stricter environmental regulations encouraging the adoption of sustainable cooling technologies. Water-cooled chillers currently dominate the market, while absorption chillers are expected to witness the fastest growth over the forecast period.
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Key Market Highlights
- Market size, 2026: USD 1.57 billion
- Market forecast, 2031: USD 1.93 billion
- Growth rate: CAGR of 4.2% from 2026 to 2031
- Largest Medium Segment: Water-cooled chillers
- Fastest-growing Type: Absorption chillers
- Largest End-Use Industry: Commercial
- Report Scope: 250 Market Data Tables, 50 Figures, 212 Pages
- Leading Companies: Daikin Industries, Trane Technologies, Carrier, Johnson Controls, Mitsubishi Electric, Smardt Chiller Group, Drake Refrigeration, PolyScience, Dimplex Thermal Solutions, and LG Electronics.
Why This Market Matters
The US cooling infrastructure is undergoing significant transformation as businesses prioritize sustainability, energy efficiency, and operational resilience. Chillers remain one of the most critical components of HVAC systems, delivering precise temperature control across commercial buildings, manufacturing facilities, healthcare institutions, educational campuses, data centers, and pharmaceutical facilities.
Market Overview
The US chillers market continues to benefit from increasing modernization of commercial and industrial infrastructure. Chillers serve as the backbone of centralized cooling systems by removing heat from liquids or air through vapor-compression or absorption refrigeration cycles. They are extensively deployed for comfort cooling, industrial process cooling, medical applications, food processing, chemical manufacturing, and mission-critical environments requiring precise temperature control.
Analyst Perspective
The US chillers market is evolving beyond conventional HVAC equipment toward becoming a strategic component of energy management and sustainable building operations. Purchasing decisions are increasingly influenced not only by equipment capacity but also by lifecycle operating costs, environmental performance, refrigerant compliance, and digital connectivity.
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Segment Analysis
By Medium, Water-cooled chillers accounted for the largest share of the US chillers market in 2025, representing 49.5% of total market value. Their superior energy efficiency, higher cooling capacities, and lower long-term operating costs make them the preferred choice for large commercial buildings, hospitals, airports, universities, manufacturing facilities, and data centers. Existing infrastructure incorporating cooling towers also supports widespread replacement demand for water-cooled systems across the United States.
By Type, among all product categories, absorption chillers are projected to register the highest CAGR of 4.6% during the forecast period. Increasing investments in combined heat and power systems, waste heat recovery, district cooling networks, and sustainable building initiatives are driving adoption. Unlike conventional vapor-compression chillers, absorption systems utilize thermal energy sources such as natural gas, steam, or waste heat, significantly reducing electricity consumption while supporting organizational carbon reduction goals.
Regional Analysis
Although the report focuses exclusively on the United States, market demand varies across regions based on industrial activity, commercial construction, climate conditions, and investments in critical infrastructure. High-growth states continue to witness increasing installations of advanced chiller systems in commercial complexes, healthcare institutions, manufacturing facilities, educational campuses, and hyperscale data centers.
Key Industry Trends
- Transition Toward Low-GWP Refrigerants
- Rising Demand from Data Centers
- Growth in Smart Building Technologies
- Increasing Adoption of Absorption Chillers
- Modernization of Aging HVAC Infrastructure
- Focus on Lifecycle Cost Optimization
Competitive Landscape
The US chillers market remains highly competitive, with leading manufacturers emphasizing innovation, sustainability, and digitalization to strengthen their market positions. Companies are investing heavily in research and development to improve cooling efficiency, expand the use of environmentally friendly refrigerants, and integrate smart monitoring capabilities into their product portfolios.
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