Industrial Air Chiller Market Report 2026

The industrial air chiller market size has grown steadily in recent years. It will grow from $5.14 billion in 2025 to $5.39 billion in 2026 at a compound annual growth rate (CAGR) of 5%. The growth in the historic period can be attributed to industrial manufacturing growth, need for equipment cooling, traditional HVAC systems, expansion of food and pharma industries, rising power generation capacity.

The industrial air chiller market size is expected to see strong growth in the next few years. It will grow to $6.56 billion in 2030 at a compound annual growth rate (CAGR) of 5%. The growth in the forecast period can be attributed to smart factory deployment, stricter energy efficiency norms, industrial automation growth, demand for precise process control, investment in sustainable cooling. Major trends in the forecast period include demand for energy efficient cooling systems, adoption of smart temperature control, growth of process cooling applications, shift toward compact chiller designs, expansion of industrial automation.

The rising growth of the pharmaceutical industry is expected to drive the expansion of the industrial air chiller market in the coming years. Pharmaceuticals are companies engaged in the manufacture and sale of drugs for medical use. Industrial air chillers are used to safely store medicines, drugs, and other chemicals, making the growth of the pharmaceutical sector a key driver for the market. For example, in April 2025, according to Eurostat, a Luxembourg-based government agency, EU exports of medicinal and pharmaceutical products increased by 13.5% in 2024 compared to 2023, reaching $316.38 billion (€313.4 billion), while imports rose modestly by 0.5% to $112.7 billion (€119.7 billion). Therefore, the rising growth of the pharmaceutical industry is supporting the growth of the industrial air chiller market.

Leading companies in the industrial air chiller market are concentrating on developing innovative products, such as brine chillers, to improve energy efficiency and lower operational costs for industrial applications. Brine chillers are specialized cooling systems that utilize a saltwater solution, or brine, as a refrigerant to absorb and transfer heat. These systems are widely used in industrial processes, food production, and HVAC systems due to their effectiveness in maintaining low temperatures. For example, in December 2023, Emicon, an India-based manufacturer of cooling solutions, introduced its new R290 brine chiller series. This series utilizes the environmentally friendly R290 refrigerant and is engineered for high energy efficiency and reliability. The new brine chillers are anticipated to serve various industrial applications, offering sustainable cooling solutions that feature advanced technology and a low environmental impact.

In December 2023, Trane Technologies, an Ireland-based company specializing in heating, ventilation, air conditioning, and refrigeration systems, acquired MTA for an undisclosed amount. This acquisition is anticipated to bolster Trane's product offerings and reinforce its market position within the HVAC industry. MTA, an Italian manufacturer, specializes in delivering advanced solutions for cooling and heating systems, aligning perfectly with Trane's dedication to sustainability and innovation.

Major companies operating in the industrial air chiller market are Johnson Controls International PLC, Mitsubishi Electric Corporation, Daikin Industries Ltd., Trane Technologies Company LLC, Carrier Global Corporation, Blue Star Limited, Airedale International Air Conditioning Ltd., Hiver Aircon Pvt. Ltd., GEM Orion Machinery Private Limited, Jiangsu Huazhao Refrigeration Equipment Co. Ltd., Fujitsu General Limited, Haier Group Corporation, Midea Group, Ingersoll Rand Inc., Panasonic Holdings Corporation, Hitema International S.r.l., KKT chillers Inc., Lennox International Inc., LG Electronics Inc., MTA S.p.A., Multistack LLC, Process Cooling Systems Inc., Reynold India Pvt. Ltd., Rittal GmbH & Co. KG, Shanghai Shenglin M&E Technology Co. Ltd., Sterling HVAC Products, Thermal Care Inc., YORK International Corporation.

North America was the largest region in the industrial air chiller market in 2025. The regions covered in the industrial air chiller market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the industrial air chiller market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The industrial air chiller market consists of sales of air-cooled chillers, vapor compressor chillers, and vapor absorption chillers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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