Gitnux/Report 2026

Chiller Industry Statistics

See how chillers are being reshaped by efficiency rules and demand spikes, from air cooled models delivering 42% of global revenue and VSD chillers claiming 35% of 2023 new installations to energy use falling up to 40% with free cooling in Nordic climates. Follow the money by sector, where commercial takes 38% share and data centers draw 18% of global capacity, while industrial revenue is powered by plastics and chemicals to reveal what is actually driving purchases in 2023 and what is likely to keep winning next.
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November 11, 2026Updated
Chiller Industry Statistics
Catherine WuWritten by Catherine Wu·Edited by Emilia Santos·Fact-checked by Maya Johansson
Published ·Updated
How this report is researched
01Editorial Scope

Gitnux editors write the brief first: the topic, the inclusion rules, and the frame for what belongs.

02Source Research

Agents search the published record and log every extracted figure back to the passage it came from.

Read our full methodology →

Search agents attach provenance to every extracted figure.

Next review: within 31 days

01 Industry overview

The chiller industry at a glance

The global chiller market was valued at $11.2 billion in 2025 and is being reshaped by data-center cooling demand, energy-efficiency requirements, and lower-global-warming-potential refrigerants.

$11.2B[24]
Global market size, 2025
5.0%[24]
Forecast CAGR, 2026–2033
46.3%[24]
Asia-Pacific share, 2025
59.7%[24]
Water-cooled share, 2025
Market size
The global chillers market was valued at $11.2 billion in 2025 and is estimated at $11.6 billion in 2026. A separate 2026 study estimated the 2025 market at $12.56 billion, reflecting differences in market scope and methodology.[24][26]
Forecast & CAGR
Grand View Research forecasts the market to reach $16.4 billion by 2033, implying a 5.0% CAGR from 2026 to 2033. Mordor Intelligence forecasts $16.97 billion by 2031 at a 5.14% CAGR from 2026 to 2031.[24][26]
Market share & regions
Asia-Pacific held the largest regional share in 2025 at 46.3% according to Grand View Research. The United States chiller market was estimated at $1.57 billion in 2026 and is forecast to reach $1.93 billion by 2031, representing a 4.2% CAGR.[24][25]
Segmentation
Water-cooled chillers accounted for 59.7% of global revenue in 2025, while commercial applications represented 56.4%. By compressor type, screw chillers led with a 49.3% share in 2025.[24]
Key players & concentration
The market is described as having medium concentration, with major participants including Carrier, Trane Technologies, Johnson Controls, Daikin, Mitsubishi Electric, LG Electronics, Midea, Smardt and Vertiv. Public market studies do not provide a consistently comparable global combined share for these companies.[26][24]
Trends, drivers & challenges
Demand is being supported by data-center construction, manufacturing investment and the need for higher-efficiency cooling. Product development is shifting toward magnetic-bearing compressors, free cooling, modular plants, digital controls and low-GWP refrigerants; Trane’s 2026 HSWE chiller, for example, reports a full-load COP of up to 7.3 and capacities of 500–1,250 refrigeration tons for standard applications.[24][18]
Consumer behavior & competition
Purchasers increasingly evaluate total lifecycle cost, energy performance, reliability, service capability and refrigerant compliance rather than equipment price alone. In a 2026 Trane product release, electricity was estimated to represent approximately 88.5% of a chiller’s total lifecycle cost, reinforcing competition around efficiency and operating cost.[18]
M&A
On December 20, 2024, Vertiv announced that its Chinese subsidiary had acquired certain assets and technologies of BiXin Energy Technology. BSE supplied water-cooled and air-cooled chillers with capacities up to 5.5 MW, strengthening Vertiv’s offering for high-performance computing and artificial-intelligence data centers.[77]
Regulation
U.S. EPA rules restrict high-GWP refrigerants in industrial-process-refrigeration chillers: from January 1, 2026, chillers with leaving-fluid temperatures above −30°C cannot use regulated substances or blends with GWP of 700 or greater. In the European Union, Regulation (EU) 2024/573 establishes further fluorinated-gas controls and refrigerant-transition requirements.[35][78]
Latest news
In July 2026, Trane launched the HSWE water-cooled magnetic-bearing centrifugal chiller for Asia-Pacific data centers, with capacities up to more than 1,500 refrigeration tons in data-center applications and readiness for next-generation HFO refrigerants. In February 2026, Trane launched the HSAG air-cooled magnetic-bearing chiller for the region, using R1234ze with a GWP below 1.[18]

02 Ranking

Top 10 Companies in the Chiller Industry

The leading companies in the chiller industry, ranked on market impact, performance, momentum, innovation and brand popularity.

Updated November 11, 2026 · Next review December 11, 2026

Verdict

Trane Technologies leads Gitnux's 2026 chiller ranking with an Overall score of 9.3, with revenue growth 7.5% and operating margin 18.6%. Midea Group is the highest-ranked water chiller systems maker at 9.0, with revenue growth 12.1% and R&D 3.9% of revenue.

Ranked by Overall score · How we score ↓

Editor's top 3 picks

Where to start, by need.

  1. #1 Overall · Leader in centrifugal chiller systems

    Trane Technologies

    IE

    Ranked #1 · 9.3 · Centrifugal chiller systems

    Why we picked it: Applied HVAC segment work centers on centrifugal water-cooled chillers and magnetic-bearing data-center models.

    See in ranking ↓Visit tranetechnologies.com ↗

  2. Leader in water chiller systems

    Midea Group

    CN

    Ranked #2 · 9.0 · Water chiller systems

    Why we picked it: Commercial HVAC offerings include magnetic water chillers, highlighted in its 2025 product reporting.

    See in ranking ↓Visit midea.com ↗

  3. #3 overall

    Johnson Controls

    IE

    Ranked #3 · 8.9 · Centrifugal chiller systems

    Why we picked it: YORK range expansion in 2025 focused on the YVAM magnetic-bearing chiller lineup.

    See in ranking ↓Visit johnsoncontrols.com ↗

Pick 1 is the #1 company overall. Pick 2 is the highest-ranked company in the top 5 that adds a new segment; no further segment places in the top 5, so pick 3 follows rank.

Full ranking

Sort by
Top 10 companies in the chiller industry, 2026 – Gitnux ranking
#CompanyOverall ↓Company snapshot
1

Trane Technologies

Centrifugal chiller systems · IE

9.3
2

Midea Group

Water chiller systems · CN

9.0
3

Johnson Controls

Centrifugal chiller systems · IE

8.9
4

Daikin Industries

Water chiller systems · JP

8.8
5

Mitsubishi Electric

Water chiller systems · JP

8.8
6

Dunham-Bush

Air-cooled, water-cooled and absorption chillers · US

8.7
7

Smardt Chiller Group

Oil-free magnetic-bearing centrifugal chillers · CA

8.4
8

Carrier Global

Commercial HVAC and chiller systems worldwide · US

8.1
9

LG Electronics

Commercial HVAC and applied cooling systems · KR

8.0
10

Blue Star

Indian commercial HVAC and chiller systems · IN

7.6

How we score

  • Impact (30%): scale and weight in the market (revenue, market share, employees, market position).
  • Performance (20%): recent revenue growth and operating margin; an analyst assessment where a company does not publish them.
  • Momentum (20%): growth trajectory and future potential.
  • Innovation (15%): R&D intensity and how technologically advanced the company is.

Popularity (brand search demand, 15%) counts toward Overall but is not published as a column. Overall leaves out what is not known.

Scale Scores are shown on a 7–10 scale with one decimal; bars start at 7.0.

Cadence Recalculated when new figures are published; next review December 11, 2026.

Independence. Rankings are editorially independent. Scores, ranks, picks and the verdict follow the method above; no company can pay to change them.

Cite this ranking

APA

Catherine Wu. (2026, February 13). Top 10 companies in the chiller industry. In Chiller Industry Statistics. Gitnux. https://gitnux.org/chiller-industry-statistics/#top-companies

report visual · Projection

Air-cooled chiller sales (Italy)

Air-cooled chiller sales grew from 52K in 2020 to 97K in 2024.

52.5K count
Start
+16.59%
CAGR · 4y
97K count
Projected
20202024
source-verifiedunfccc.int2024

04 Statistics

Technology & Innovation

Technology work focuses on connected chiller monitoring and data-center throughput, including Carrier’s 45,000+ connected chillers deployed during five years to 2024.

AI in the chiller industry

  • 5 gigawatts of total cooling capacity is covered by LG Electronics’ North American agreement to supply chillers for AI data centers.[1]
  • 30% or more of a data center’s power may be allocated to electric chillers under worst-case cooling and load conditions, according to Tecogen.[2]
  • 45,000+ connected chillers were deployed by Carrier during the five years to 2024, enabling AI-based insights for customers worldwide.[3]
  • More than 600 billion South Korean won in AI data-center cooling-solution orders were secured by LG Electronics in the first half of 2026.[1]
  • 6,600 refrigeration tons is the capacity of Midea Building Technologies’ chiller testing facility at its AI-powered Chongqing factory.[4]
  • 700 electric chillers per year were reportedly being purchased by one large data-center developer, according to Tecogen.[2]

Automation in the chiller industry

  • 229 individual chilled-water-plant cases were analyzed in a global systematic review of automation and optimization performance.[5]
  • 124 publications covering chilled-water plants were included in the 2014–2025 systematic review of operational energy efficiency.[5]
  • 18.87% was the average efficiency gain from optimization across 229 chilled-water-plant cases reviewed globally for 2014–2025.[5]

Digital Transformation in the industrial manufacturing sector (sector benchmark)

  • 24% of companies across the European Industrial Ecosystem had a concrete digital-transformation strategy in 2024.[6]
  • 32% of U.S. industrial-products respondents said their operations-technology investments had delivered expected results in 2024.[7]
  • 76% of industrial-manufacturing firms across 26 countries reported that their workforce had an appetite to embrace cutting-edge technology in 2024.[8]
  • 34% of industrial-manufacturing organizations across 26 countries had achieved return on investment from multiple AI use cases in 2024.[8]

Technology Adoption in the industrial manufacturing sector (sector benchmark)

  • 37% of industrial-manufacturing organizations were proactive in advancing AI and automation strategies in 2024.[9]
  • 35% of industrial-manufacturing organizations were proactive in advancing data-and-analytics strategies in 2024.[9]
  • 31% of industrial-manufacturing organizations were proactive in advancing modern-delivery technologies, including low-code and no-code, in 2024.[9]
  • 30% of industrial-manufacturing organizations were proactive in advancing edge-computing strategies in 2024.[9]

Cloud Computing in the industrial manufacturing sector (sector benchmark)

  • 54% of EU manufacturing enterprises used paid cloud-computing services in 2025, up from approximately 45% in 2023.[10]
  • 87% of Australian manufacturing enterprises used cloud computing in 2022.[11]
  • 39% of industrial-manufacturing organizations were proactive in advancing XaaS technologies, including public and multicloud, in 2024.[9]
  • 87% of Finnish manufacturing enterprises used cloud computing in 2023.[11]

Big Data in the industrial manufacturing sector (sector benchmark)

  • 70% of manufacturers still collected data manually in 2024, according to a Manufacturing Leadership Council survey reported by the National Association of Manufacturers.[12]
  • 67% of manufacturers surveyed in the United States, Germany and Malaysia could collect and analyze data in near real time in 2024.[13]
  • 16.2% of businesses in the European Industrial Ecosystem used big-data technologies in 2024.[6]
  • 57% of manufacturers used some form of artificial intelligence to analyze collected manufacturing data in 2024.[14]
  • 28% of manufacturing survey respondents were implementing big-data processing in 2024.[15]
  • 60% of manufacturers surveyed could collect and normalize data from assets or equipment in 2024, across 461 decision makers in the United States, Germany and Malaysia.[13]

IoT in the industrial manufacturing sector (sector benchmark)

  • 81% of manufacturing leaders surveyed identified data and analytics for process improvement as an important technology use case, while IoT for predictive maintenance ranked among the leading use cases in 2024.[16]
  • 35% of manufacturing companies in a Productivity Institute sample had adopted Internet of Things technology, with geography not specified by the source.[17]
  • 11.1% of businesses in the European Industrial Ecosystem used Internet of Things technologies in 2023.[6]

05 Statistics

Data & Analytics

Analytics coverage emphasizes measurement windows and performance indexing, including the OpenBlue Chiller Performance Index using a rolling 24-hour window.

Business intelligence in the chiller industry

  • Trane’s Vietnam chiller-plant solution coordinated nearly 1,000 control points across chillers, pumps and cooling towers.[18]
  • The OpenBlue Chiller Performance Index measures variations from design thresholds over a rolling 24-hour window.[19]
  • Trane’s Central Arts Plaza system reduced facility hot-and-cold service calls from 25 per day to one per day using performance data and controls.[18]
  • Carrier reported nearly 40,000 chillers connected globally and another 25,000 scheduled for connection in 2024.[20]

Data analytics in the chiller industry

  • The same Trane manufacturing-site project reduced annual energy costs by $30,000 using data-enabled building-performance analysis.[18]
  • Trane’s Childress Klein project achieved approximately 30% annual energy savings through chiller controls, retrofits and operating-data analysis.[18]
  • A semiconductor-factory chiller analytics study achieved energy savings greater than 12% while maintaining cooling demand.[21]
  • A Trane 55 Water Street chiller modernization reduced annual energy use by 2 GWh.[18]
  • Trane’s Vietnam intelligent chiller-plant analytics and controls delivered expected overall energy savings of 5–7%.[18]
  • Trane’s Singapore chiller optimization project reduced electricity use by an estimated 34 million kWh annually from 2024 onward.[18]

Data Quality in the industrial manufacturing sector (sector benchmark)

  • 51% of manufacturers surveyed said their data was siloed across disparate tools and systems in 2025.[22]
  • 44% of manufacturers surveyed reported that AI projects had failed because of poor data quality in 2025.[22]
  • 30% of manufacturers identified poor data quality as a technical barrier to improving processes in 2025.[23]
  • 41% of manufacturers surveyed distrusted the data used for supply-chain operations in 2025.[22]
  • 61% of manufacturing leaders agreed that poor data quality limited adoption and optimization of emerging technologies in 2025.[23]
  • 54% of manufacturers surveyed had duplicate data in several systems in 2025.[22]

Data Governance in the industrial manufacturing sector (sector benchmark)

  • 22% of manufacturers surveyed included data collection, management or analysis in executive incentives, KPIs or business imperatives in 2024.[14]
  • 58% of manufacturers surveyed assigned primary data-governance responsibility to a C-suite or senior leader in 2024.[14]
  • 15% of manufacturers surveyed said their data strategy was entirely aligned with their overall business strategy in 2024.[14]
  • 61% of manufacturers surveyed had a corporate-wide governance plan, strategy or formal data-management guidelines in 2024.[14]

KPIs in the chiller industry

  • Trane’s Vietnam chiller-plant project reduced emissions by 38,800 metric tons of CO₂ equivalent.[18]
  • The 55 Water Street chiller project reduced summer peak demand by 2.1 MW.[18]
  • The OpenBlue Chiller Performance Index uses a rolling 24-hour window to quantify deviations from design thresholds.[19]
  • Trane’s Vietnam project achieved a measured chiller COP of 6.65 against a specification of 6.17.[18]
  • The 55 Water Street chiller modernization achieved a 12.8% internal rate of return.[18]

06 Statistics

Strategy & Growth

Growth and strategy sections tie expansion to efficiency targets and refrigerant transitions, including Trane’s HSWE chiller with full-load COP up to 7.3.

Growth in the chiller industry

  • USD16.3 billion is the projected global chillers-market value for 2033.[24]
  • USD12.08 billion was the estimated global chillers-market value in 2024 in MarketsandMarkets’ forecast series.[25]
  • 6.11% is the projected compound annual growth rate for the chiller market in the Asia-Pacific region through 2031.[26]
  • 20% was the forecast growth rate by 2027 for data-center and high-tech demand for Trane’s air-cooled chillers.[18]
  • 12.7% was China’s 2025 growth rate for central-air-conditioning export sales.[27]
  • 5.0% is the forecast compound annual growth rate for the global chillers market from 2026 through 2033.[24]

Differentiation in the chiller industry

  • 850 tons is the cooling capacity of Trane’s new magnetic-bearing air-cooled chiller at data-center conditions in 2025.[18]
  • 3 MW is the corresponding single-frame cooling capacity of Trane’s magnetic-bearing air-cooled chiller in 2025.[18]
  • Less than 1 is the global-warming-potential rating of the R1234ze refrigerant used in Trane’s HSAG chiller in 2026.[18]
  • 45% of chiller capacity could be supplied without compressor operation in Trane’s Ford data-center case through integrated free cooling.[18]
  • 30% were the verified annual energy savings in Trane’s Atlanta chiller-control retrofit case study.[18]
  • 1.4 was the PUE achieved by Trane’s high-efficiency chiller solution at a Malaysian data center.[18]

Mergers and acquisitions in the chiller industry

  • 2014 was the year Chilldyne began deploying liquid-cooled GPU clusters at scale, according to Daikin’s acquisition announcement.[28]
  • 2 fiscal periods—second half of 2025 and the following fiscal year—were identified by Daikin as sales opportunities from the Chilldyne acquisition.[28]
  • 1 acquisition of Chilldyne was announced by Daikin Applied on November 5, 2025.[28]
  • 3 acquisition-led cooling capabilities named by Daikin include air handling, rack cooling and liquid cooling.[28]
  • 1 acquisition of Silent-Aire was cited by Johnson Controls as expanding its hyperscale-cooling portfolio in its 2021 green-bond report.[29]

Strategic partnerships in the chiller industry

  • 12 Geely production sites received Trane chillers through the companies’ long-term partnership.[18]
  • 1.4 was the PUE target met through collaboration among Trane, a Malaysian data-center operator and its design team.[18]
  • 18% annual energy savings were reported from Trane’s collaborative customized chiller solution for an Indian hyperscale data center.[18]
  • 6 Trane centrifugal chillers, each rated at 670 tons, were selected for Ford’s data center through a design-build partnership.[18]
  • 30% annual energy savings were achieved in the Childress Klein-Trane chiller-control project.[18]
  • 500 employees occupied the Atlanta building in Trane’s Childress Klein chiller-optimization partnership case.[18]

07 Statistics

People & Workforce

Workforce figures show scale and operating capacity through headcount and engagement, including 44,000 employees at Trane Technologies across 62 countries as of December 31, 2025.

Hiring in the chiller industry

  • 44,000 people were employed by Trane Technologies in 62 countries as of December 31, 2025.[30]
  • 47,000 employees worked for Carrier worldwide across more than 52 countries as of December 31, 2025.[31]

Employee retention in the chiller industry

  • 34% of Carrier’s approximately 47,000 employees were located in the Americas at the end of 2025.[31]
  • 30% of Carrier’s approximately 47,000 employees were located in Asia Pacific, Middle East and Africa at the end of 2025.[31]
  • 91% of Trane Technologies’ workforce participated in its annual employee-engagement survey in 2025.[32]
  • 36% of Carrier’s approximately 47,000 employees were located in Europe at the end of 2025.[31]
  • 96% was Trane Technologies’ retention rate for key talent in 2025.[30]

Remote Work in the industrial manufacturing sector (sector benchmark)

  • Across U.S. manufacturing, teleworked hours represented 12.2% of total hours worked in 2025.[33]
  • Across U.S. manufacturing, 35.2% of surveyed workers reported remote work in the Chicago Fed Survey of Economic Conditions from July 2021 through March 2024.[34]
  • Across U.S. manufacturing, 19% of workers worked remotely, including hybrid and fully remote arrangements, during October 2023–September 2024.[35]
  • Across U.S. manufacturing, 36.9% of workers could work at home and 33.3% actually did so during 2024–2025.[33]

Hybrid Work in the industrial manufacturing sector (sector benchmark)

  • Across manufacturing employers, 80% said their organizations were still struggling to balance hybrid working in 2025.[36]
  • Across manufacturing companies, 17% were fully back in the office for non-production employees in 2025.[37]
  • Across manufacturing employers, 67% identified productivity as a key factor driving pressure to return to the office in 2025.[36]
  • Across manufacturing companies, the average required office attendance reached 2.82 days per week in the second quarter of 2025.[37]
  • Across manufacturing employees, 80% believed office mandates reflected a lack of trust that employees would be productive at home in 2025.[36]

Upskilling in the chiller industry

  • 314 employees completed Carrier’s Talent Possible development programs in 2025.[32]
  • More than two-thirds of Johnson Controls’ open management positions were filled internally during fiscal 2025.[31]
  • 88 employees participated in Carrier’s Catalyst development program in 2025.[32]
  • 129 employees participated in Carrier’s New People Leader Program in 2025.[32]

Employee Engagement in the industrial manufacturing sector (sector benchmark)

  • Across manufacturing companies, 41% identified employee recognition as a high priority in 2024.[38]
  • Across manufacturing companies, 70% of respondents said most non-frontline employees were engaged in their jobs in 2023.[7]
  • Across manufacturing, distribution and storage organizations, the average employee-engagement score was 72.9% in 2026.[39]
  • Across manufacturing companies, 48% of respondents said most frontline workers were engaged in their jobs in 2023.[7]
  • Across manufacturing, distribution and storage organizations, 84.2% of employees said they cared about their organization’s future in 2026.[39]

Change Management in the industrial manufacturing sector (sector benchmark)

  • Across organizations worldwide, 28% used an adaptive or agile change-management approach in 2024.[40]
  • Across organizations worldwide, 39% used change management sporadically in 2024.[40]
  • Across organizations using change-management tactics, 91% reported using those tactics in 2024, while only 7% allocated the recommended 20% of initiative budgets to change management.[40]
  • Across organizations worldwide, 24% used a project-based change-management approach in 2024.[40]
  • Across organizations surveyed globally, 23% reported that their projects failed to meet adoption expectations in 2024.[40]

08 Statistics

Customer & Sales

Customer and sales data highlight recurring value and service lifecycles, including 15–18 years expected service life for a process chiller with manufacturer-recommended maintenance in the U.S.

Customer experience in the chiller industry

  • 66,000 euros per year was the reported energy saving for a South Korean pharmaceutical customer after installing a system that enabled seasonal chiller shutdown.[41]
  • 100 chiller customers participated in a customer-engagement study for a leading commercial air-conditioning and refrigeration player in India in 2019.[42]
  • Nearly 40,000 Carrier chillers were connected globally for continuous monitoring, with another 25,000 targeted for connection in 2024.[20]

Customer retention in the chiller industry

  • 4% was the year-over-year increase in Tecogen service-contract revenue in 2022, indicating growth in recurring chiller-related service relationships.[31]
  • 15–18 years is the expected service life of a process chiller receiving manufacturer-recommended maintenance in the United States.[43]
  • 11.5 years was the average age of 1–20 ton process chillers operating in most U.S. markets as of 2015.[43]

Customer acquisition in the chiller industry

  • More than 30 million dollars in annual quote requests from potential new customers were reported by Legacy Chillers in the United States.[43]
  • 10,000+ clients in more than 100 countries and regions had purchased or used TEYU water chillers by 2022.[44]

Customer loyalty in the chiller industry

  • 10,000+ clients across more than 100 countries and regions were reported for TEYU water chillers in 2022.[44]
  • 110,000+ TEYU chiller units were sold in 2022, alongside a customer base described as loyal by the manufacturer.[44]

Lead generation in the chiller industry

  • The commercial chiller manufacturer’s cost per conversion fell to 98.95 dollars from 327.97 dollars after the paid-search campaign.[45]
  • 297.42 conversions were generated for a commercial air- and water-chiller manufacturer after a paid-search campaign beginning in January 2024.[45]
  • A 3.45% conversion rate was achieved by a commercial chiller manufacturer through paid search after January 2024.[45]

09 Statistics

Marketing & Brand

Marketing and brand coverage links site demonstrations to purchase behavior, including more than 1,000 customer visits per year at Carrier’s Charlotte chiller plant.

Marketing in the chiller industry

  • More than 1,000 customer visits per year were hosted at Carrier’s Charlotte chiller plant, where the installed chiller served as a marketing tool.[46]
  • Several customers were inspired to purchase Carrier’s 30XW chiller after seeing it operating at the Charlotte plant.[46]
  • 12% higher gross margin per sale was reported for U.S. HVACR contractors actively selling process chillers compared with commoditized products.[43]

Digital marketing in the chiller industry

  • 4.3 times as many conversions as the prior year were generated for a commercial chiller manufacturer through a paid-search program.[45]
  • 3.45% was the conversion rate achieved by the commercial chiller manufacturer after paid-search optimization.[45]
  • 1.20% was the commercial chiller manufacturer’s conversion rate before its paid-search optimization program.[45]

Branding in the chiller industry

  • 110,000+ units was TEYU’s reported annual chiller sales volume in 2022, the company’s highest figure at the time.[44]
  • 10,000+ clients in 100+ countries and regions were cited as users of TEYU water chillers, providing the manufacturer with international brand reach.[44]

Influencer Marketing in the industrial manufacturing sector (sector benchmark)

  • Across B2B companies, 43% of marketers planned to increase influencer investment in the following year in 2025; global survey scope.[47]
  • Across B2B companies, 55% of marketers used influencers in 2025, providing a benchmark applicable to industrial manufacturing marketers.[47]
  • Among manufacturing marketers using paid channels, 19% used influencer marketing in the 12 months covered by the 2025 outlook survey; global manufacturing, survey conducted June–August 2024.[48]
  • Across B2B companies, 28% ranked thought leaders or industry analysts as the most effective influencer type in 2025; global survey scope.[47]
  • Across B2B companies, 76% of marketing leaders said creator collaboration helps build brand authenticity in 2025; global survey scope.[47]

10 Statistics

Operations & Execution

Operations metrics focus on energy outcomes and reliability, with optimization results and service-call drivers listed across chilled-water-plant and industrial-chiller evidence.

Process optimization in the chiller industry

  • 5.48 was the median annual energy-efficiency ratio after optimization across 91 chilled-water-plant cases reviewed globally for 2014–2025.[5]
  • 4.61 was the median annual energy-efficiency ratio before optimization across 98 chilled-water-plant cases reviewed globally for 2014–2025.[5]
  • 4.31 was the post-optimization annual energy-efficiency ratio achieved by the Hong Kong chiller-plant case, up from 3.69.[5]
  • 124 publications applied annual energy-efficiency metrics to chilled-water plants in a review of 1,790 retrieved records covering 2014–2025.[5]
  • 34.41% of optimized chilled-water-plant cases failed to meet U.S. Level 1 efficiency criteria in the 2014–2025 systematic review.[5]

Operational efficiency in the chiller industry

  • 0.85 was the average technical efficiency of chiller systems under an existing operating strategy in a data-envelopment-analysis study.[49]
  • 4.56 was the highest achievable system COP after fine-tuning temperature-related variables in a chiller-system study, compared with 3.87 under existing operation.[49]
  • 5.73 was the average system coefficient of performance under the existing operating strategy in a published chiller-system study.[21]
  • 59.04% of optimized chilled-water-plant cases failed to meet Chinese Level 1 efficiency criteria in the 2014–2025 systematic review.[5]
  • 0.97 was the average technical efficiency measured for chiller systems under the existing operating strategy in the same study.[21]

Quality management in the chiller industry

  • 27% of industrial-chiller breakdown call-outs with a clearly recorded cause involved refrigerant leaks or loss of charge in the 12 months to September 2026.[50]
  • 23% of industrial-chiller breakdown call-outs with a clearly recorded cause involved electrical, controls or sensor faults in the 12 months to September 2026.[50]
  • 79% of industrial-chiller service call-outs were attended within 24 hours in the 12 months to September 2026.[50]
  • 38% of reported nuclear-plant chiller failures were primarily aging-related in an assessment of chiller operating experience.[51]
  • 14% of industrial-chiller breakdown call-outs with a clearly recorded cause involved condensers, fans or high-pressure faults in the 12 months to September 2026.[50]

Supply chain in the chiller industry

  • 28–42 weeks was the previous estimated lead-time range for air-cooled chillers before fourth-quarter 2025 improvement in the U.S. MEP equipment market.[52]
  • 19.6% was the increase in mechanical-equipment orders reported in the fourth quarter of 2025, including chiller-related equipment categories.[52]
  • 22.5% was the increase in mechanical-equipment shipments reported in the fourth quarter of 2025, including chiller-related equipment categories.[52]
  • 12–47 weeks was the previous estimated lead-time range for water-cooled chillers before fourth-quarter 2025 improvement in the U.S. MEP equipment market.[52]
  • 10–47 weeks was the current estimated lead-time range for water-cooled chillers in the fourth quarter of 2025 in the U.S. MEP equipment market.[52]

Outsourcing / Offshoring in the industrial manufacturing sector (sector benchmark)

  • Across global manufacturing, 56% of executives in 2025 said their organization had invested in nearshoring or a combination of reshoring and nearshoring.[53]
  • Across EU enterprises sourcing abroad during 2021–2023, 39% outsourced business functions to external providers, while 72% used affiliated enterprises abroad for insourcing.[10]
  • Across global manufacturing, executives expected offshore facilities to decline to 28% within three years of 2025, while onshore facilities rise to 48%.[53]
  • Across global manufacturing, 73% of executives in 2025 believed friendshoring would represent a significant share of future sourcing and production.[53]
  • Across global manufacturing, 37% of facilities were offshore in 2024, compared with 41% onshore and 22% nearshore.[53]

11 Statistics

Finance & Pricing

Finance and pricing data quantify equipment and lifecycle economics, including conventional data-center chiller-equipment cost of $616 per ton in 2025 before installation.

Pricing strategy in the chiller industry

  • Approximately $500,000 was the market price discussed for a chiller with about 1.5 MW of capacity in a Modine investor call.[3]
  • $210,000 per MW of IT load was the estimated conventional data-center chiller-equipment cost in 2025 before installation.[54]
  • $616 per ton was the estimated conventional data-center chiller-equipment cost in 2025 before installation.[54]
  • $4,800–$5,500 was the estimated annual maintenance cost for hot-water single-effect absorption chillers in ASHRAE district-cooling data.[55]
  • $260,000 per MW of IT load was the estimated AI data-center chiller-equipment cost in 2025 before installation.[54]

Cost reduction in the chiller industry

  • 6–8 was the approximate COP range available from modern chillers in U.S. energy-audit guidance.[56]
  • 15–20% more electricity was reported for a centrifugal chiller plant than for the chiller alone, highlighting system-level reduction potential.[56]
  • 4.1–5.5 was the approximate COP range cited for older centrifugal chillers in U.S. energy-audit guidance.[56]
  • 0.9–1.0 kW per ton was the typical efficiency range cited for older chiller plants in U.S. energy-audit guidance.[56]
  • 70% was the annual greenhouse-gas-emissions reduction reported for an HVAC chiller-efficiency project in Australia.[57]

Profitability in the chiller industry

  • $452 million was Carrier’s 2025 Climate Solutions Transportation segment operating profit.[31]
  • $1.558 billion was Carrier’s earnings from continuing operations in 2025.[31]
  • 15.1% was Carrier’s 2025 adjusted operating margin.[31]
  • 10.0% was Carrier’s 2025 GAAP operating margin.[31]
  • $2.172 billion was Carrier’s operating profit in 2025 on $21.747 billion of net sales.[31]

Financial planning in the chiller industry

  • $8.5 billion was Carrier’s backlog after the third quarter of 2026, up 60% year over year.[31]
  • Approximately 110,000 chillers were covered by Carrier long-term service agreements at the end of 2025.[31]
  • 70,000-plus chillers were connected to Carrier’s digital offerings at the end of 2025.[31]
  • Approximately $23 billion was Carrier’s raised full-year 2026 sales outlook reported in the second quarter of 2026.[31]
  • $3.7 billion was the capital Carrier returned to shareholders through dividends and share repurchases in 2025.[31]

12 Statistics

Product & Service

Product and service evidence emphasizes measured performance and installed system scope, including 55 Water Street modernization reducing annual energy use by 2 GWh.

Product development in the chiller industry

  • The Vietnam chiller project achieved a measured COP of 6.65 against a required COP of 6.17.[18]
  • 70 water pumps and 52 cooling towers were included alongside the 26 chillers in Trane’s Singapore retrofit project.[18]
  • More than 300 commercial CO₂, ammonia and propane chillers and heat pumps were on the European market from more than 65 manufacturers as of August 2026.[58]
  • 27,000 commercial propane chillers and heat pumps were installed in Europe as of December 2025.[58]
  • 1,000 commercial CO₂ chillers and heat pumps were installed in Europe as of December 2025.[58]

Product lifecycle in the chiller industry

  • The median service life of centrifugal chillers is greater than 25 years in the ASHRAE survival database.[55]
  • 49% of surveyed chillers in Massachusetts were older than 12 years in the 2020 assessment.[59]
  • 51% of surveyed Massachusetts chillers had been installed since 2009 in the 2020 assessment.[59]
  • About one-third of chillers observed in the Massachusetts study dated from before 2000.[59]
  • Approximately 5% of the Massachusetts chiller stock was installed between 2015 and 2020, indicating the observed replacement rate.[59]

After-sales in the chiller industry

  • Carrier reported about 75,000 chillers under long-term agreements in 2023.[60]
  • Carrier’s chiller service-attachment rate was close to 60% in 2025.[61]
  • Carrier estimated that 70–80% of its high-complexity chillers were under service contracts in 2025.[61]
  • Carrier reported approximately 30,000 connected chillers in 2023.[60]
  • Carrier sold approximately 100,000 Lynx subscriptions in 2023 as part of its digitally enabled lifecycle-solutions business.[60]

Value proposition in the chiller industry

  • A Trane data-center chiller upgrade reduced energy consumption from about 2.0 to 1.3 kW per ton.[18]
  • A Trane chiller-plant modernization at 55 Water Street saved $2.5 million annually in building operating costs.[18]
  • A Johnson Controls hospital customer with 100 connected chillers achieved more than $200,000 in operational and energy savings in three months.[29]
  • Johnson Controls cites a 30% reduction in total cost of ownership and longer asset life for its connected-chiller proposition.[62]
  • Johnson Controls cites a 30% reduction in mean time to repair for its connected-chiller proposition.[62]

13 Statistics

Sustainability & Ethics

Sustainability reporting here tracks avoided emissions and refrigerant-recovery assumptions, including 632 million metric tons of GHG emissions avoided since 2020 through Carrier products and solutions.

Sustainability in the chiller industry

  • 632 million metric tons of GHG emissions had been avoided since 2020 through Carrier products and solutions, global, 2025.[63]
  • 39% of Carrier’s electricity consumption came from renewable sources, global, 2025.[63]
  • 61.1 tonnes of CO2e were avoided annually in a Hong Kong shopping-mall chiller-control case study, Hong Kong, 2024.[5]
  • 59% was the reduction in Trane Technologies’ operational emissions from the 2019 baseline, global, 2025.[30]
  • 98% of Trane Technologies’ carbon footprint was attributed to customers’ use of its products, global, 2025.[30]

ESG in the chiller industry

  • $2.1 billion had been invested by Carrier in sustainable research and development since 2020, global, 2025.[63]
  • 100% of significant Trane Technologies suppliers were enrolled in its sustainability-reporting platform, global, 2025.[30]
  • 81 out of 100 was Trane Technologies’ overall employee-engagement score, global, 2025.[30]
  • 28% was Carrier’s reduction in absolute Scope 3 GHG emissions compared with 2021, global, 2025.[63]
  • 25 ESG-related topics were assessed by Johnson Controls in its materiality assessment, global, 2023.[29]

Ethics in the chiller industry

  • 1 Global Business Integrity Council coordinates Trane Technologies’ global ethics and compliance program, global, 2025.[30]
  • 100% of Trane Technologies’ business partners were covered by communication of its anti-bribery and corruption policy, global, 2024.[30]
  • 100% is Trane Technologies’ target response rate for salaried employees completing annual Code of Conduct training, global, 2025.[30]
  • 16% of Trane Technologies’ global workforce was covered by collective-bargaining agreements, a workforce-ethics indicator, global, 2024.[30]
  • 100% of Trane Technologies’ salaried employees completed Code of Conduct training, global, 2025.[30]

CSR in the chiller industry

  • 81 out of 100 was Trane Technologies’ employee-engagement score, global, 2025.[30]
  • 100% of significant suppliers were enrolled in Trane Technologies’ sustainability-reporting platform, supporting responsible supply-chain engagement, global, 2025.[30]
  • 30% was the year-on-year increase in participation in Trane Technologies’ tuition-support program, global, 2025.[30]
  • 104,000 hours of employee volunteerism were contributed by Trane Technologies employees in local communities, global, 2025.[30]
  • 15.5% of Trane Technologies’ global workforce was covered by collective-bargaining agreements, global, 2025.[30]

Circular economy in the chiller industry

  • 80% was the end-of-life refrigerant-recovery rate assumed in Trane’s 220-ton air-cooled centrifugal-chiller life-cycle assessment, United States, 2024.[64]
  • 57.2% was the average recovery rate for R410A from decommissioned industrial refrigeration equipment in Germany, 2017–2021.[65]
  • 76.7% was the average recovery rate for R134a from decommissioned industrial refrigeration equipment in Germany, 2017–2021.[65]
  • 20 years was the modeled service life of Trane’s 220-ton air-cooled centrifugal chiller, United States, 2024.[64]
  • 88.1% was the average recovery rate for R449A from decommissioned compound commercial refrigeration systems in Germany, 2017–2021.[65]

Carbon footprint in the chiller industry

  • 85,934 metric tons of CO2e came from refrigerant leaks in Trane Technologies’ manufacturing processes and cooling equipment, global, 2024.[30]
  • 24,578 kilograms of CO2e were attributed to material extraction for Trane’s modeled 220-ton chiller, United States, 2024.[64]
  • 238 million metric tons of CO2e were Trane Technologies’ Scope 3 emissions, global, 2024.[30]
  • 234 million metric tons of CO2e came from product use in Trane Technologies’ Scope 3 inventory, global, 2024.[30]
  • 292,674 kilograms of CO2e were attributed to refrigerant leakage during the modeled life of Trane’s 220-ton chiller, United States, 2024.[64]

15 Statistics

Globalization & Expansion

Globalization coverage highlights regional demand shares and expansion routes, including Asia-Pacific’s 46.3% share of the global chiller market in 2025.

Globalization in the chiller industry

  • 68.21% of Kuen Ling’s central-system-chiller sales were in Taiwan in 2024.[73]
  • 28.66% of Kuen Ling’s central-system-chiller sales were in mainland China in 2024.[73]
  • 17% of Carrier Global’s 2024 net sales came from Asia-Pacific.[74]
  • 39.16% was Asia-Pacific’s share of the global chiller market in 2025.[26]
  • 31% of Carrier Global’s 2024 net sales came from Europe, the Middle East and Africa.[74]

Cultural adaptation in the chiller industry

  • 7.3 is the full-load COP achieved by Trane’s HSWE chiller under China’s GB standard in 2026.[18]
  • 35°C is the maximum leaving chilled-water temperature supported by Trane’s HSWE chiller for Asia-Pacific applications in 2026.[18]
  • 73 dB(A) is the minimum published noise level of Trane’s HSWE chiller for noise-sensitive Asian applications in 2026.[18]
  • 500–1,250 RT is the standard-application capacity range of Trane’s HSWE chiller developed for Asia-Pacific markets in 2026.[18]
  • 12.3 is the AHRI IPLV achieved by Trane’s HSWE chiller for Asia-Pacific applications in 2026.[18]

Supplier management in the chiller industry

  • More than 28,200 suppliers worldwide supplied Trane Technologies in 2024.[30]
  • 3600 RT is the capacity of the CDHF units included in Trane’s renewed 2022 chiller framework agreement with Geely.[18]
  • 4 direct-material groups highlighted by Trane are refrigerants, steel, copper and aluminum for cooling-system production.[30]
  • 8 major HVAC/R equipment manufacturers are identified as significant supplier relationships in Watsco’s 2026 filing.[75]
  • 5 supplier-risk areas named by Trane include labor shortages, raw-material price fluctuations, tariffs, economic challenges and human-rights exposure.[30]

Stakeholder management in the chiller industry

  • 6 stakeholder categories identified by EVAPCO include customers, employees, suppliers, local communities, regulators and industry associations.[76]
  • 3 external stakeholder groups listed in Trane’s materiality process are customers, supply-chain partners and industry groups.[30]
  • 1.4 was the power-usage-effectiveness target met by Trane’s Malaysian data-center customer through collaborative chiller design.[18]
  • 2026 was the year Trane used an independent consulting firm to update its enterprise-wide materiality assessment.[30]
  • 5 stakeholder-facing channels named by EVAPCO include surveys, meetings, communication, active listening and feedback mechanisms.[76]

Distribution channels in the chiller industry

  • 75% of Carrier Global’s 2024 sales were new equipment, while 25% came from parts and services.[74]
  • 27.26% was Kuen Ling’s share of Taiwan’s central-system-chiller sales volume in 2024.[73]
  • 8 equipment brands are named by Watsco as significant HVAC/R manufacturer relationships supporting its distribution business.[75]
  • 52% of Carrier Global’s 2024 net sales came from the Americas region.[74]
  • 2 customer types receiving Kuen Ling chiller products are ODM/OEM customers and refrigeration-and-air-conditioning engineering companies.[73]

Key questions about the Chiller Industry

What was the global chiller market value in 2025, and what is the 2026 estimate?
The global chiller market was valued at $11.2 billion in 2025. It is estimated at $11.6 billion in 2026.
How fast is the global chiller market expected to grow from 2026 to 2033?
The forecast CAGR for 2026–2033 is 5.0%. Grand View Research projects the market to reach $16.4 billion by 2033.
Which companies lead the chiller industry?
Trane Technologies leads Gitnux's 2026 chiller ranking with an Overall score of 9.3, with revenue growth 7.5% and operating margin 18.6%. Midea Group is the highest-ranked water chiller systems maker at 9.0, with revenue growth 12.1% and R&D 3.9% of revenue.
What technology shifts are reshaping chiller product development in this period?
Development is shifting toward magnetic-bearing compressors, free cooling, modular plants, digital controls, and low-GWP refrigerants. U.S. restrictions for leaving-fluid temperatures above −30°C also shape refrigerant choices from January 1, 2026.
How concentrated is the chiller market, and do studies provide combined global share for major players?
The market is described as having medium concentration. Public market studies do not provide a consistently comparable global combined share for major participants.
What is the role of lifecycle cost in 2026 chiller purchasing decisions?
Purchasers increasingly evaluate total lifecycle cost and energy performance rather than equipment price alone. Electricity is estimated to represent approximately 88.5% of a chiller’s total lifecycle cost in a 2026 Trane product release.
Reference

Cite This Report

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APA
Catherine Wu. (2026, February 13). Chiller Industry Statistics. Gitnux. https://gitnux.org/chiller-industry-statistics
MLA
Catherine Wu. "Chiller Industry Statistics." Gitnux, 13 Feb 2026, https://gitnux.org/chiller-industry-statistics.
Chicago
Catherine Wu. 2026. "Chiller Industry Statistics." Gitnux. https://gitnux.org/chiller-industry-statistics.

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