US Chillers Market

The US chillers market is projected to grow from USD 1.57 billion in 2026 to USD 1.93 billion in 2031, at a CAGR of 4.2% during the forecast period. The construction of industrial, commercial, and residential buildings has experienced unprecedented growth in the US, encouraging the growth of this market segment. In addition to advancements in cooling systems, the introduction of new technologies within HVAC will continue to drive growth in the chillers market.

In March 2025, LG Electronics announced that they are introducing a new energy-efficient chiller designed for the commercial market. This product launch initiative will further enhance LG’s capability and contribute to its development of sustainable cooling and heating solutions. This initiative will further develop LG's portfolio and optimize the energy efficiency and the environmental performance of LG’s HVAC refrigerants, therefore continuing to develop LG’s position as one of the leading suppliers of chillers in the US.

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Daikin Industries received approval to sell its modular chiller developed to support data centers in June 2024. The approval means that Daikin can now promote its advanced cooling solutions in the US market and has already developed and launched a complete product line in response to the increased cooling needs of the technology industry.

Daikin Industries (Japan), Trane Technologies (Ireland), Carrier (US), Johnson Controls (Ireland), Mitsubishi Electric (Japan), Smardt Chiller Group (Canada), Drake Refrigeration (US), PolyScience (US), Dimplex Thermal Solutions (US), and LG Electronics (South Korea), among others, are some key players in the market. They focus on increasing their market shares through new product launches and other expansions.

Daikin Industries (Japan) is one of the main contributors to the chillers market over the previous years due to its vast stock of high-tech products. In conjunction with being a leader in HVAC technology, Daikin's recent innovations have resulted in many new and advanced cooling systems that provide superior energy efficiency and high performance in temperature control for critical application requirements. Daikin's product developments for chillers, specifically modular chillers for data centers, are continuing to support its record of successful product performance and customer satisfaction.

Trane Technologies (Ireland) holds one of the largest market shares for the US chillers sector due to its innovative business model, climate control experience, and an extensive product portfolio. Trane Technologies specializes in providing HVAC solutions and has developed into a major climate-control solution partner since its inception by delivering superior products and energy-efficient cooling solutions while providing facilities with a controlled environment due to their need for precise temperature regulation. Further, over the past years, Trane Technologies has established market awareness and representation with customers in the industrial and commercial space by developing strategic partnerships with leading renewable energy companies across the United States; thus, enhancing knowledge and understanding of their chilled water product lines and introducing more people to advanced chiller technologies and sustainable cooling solutions.

US CHILLERS MARKET: COMPANY EVALUATION MATRIX

The key players within the chillers market in the US have developed diverse product lines and are consistently innovating with technology. Daikin Industries (Japan), Trane Technologies (Ireland), Carrier (US), and Johnson Controls (Ireland) are four of the largest companies within the US chillers market. Daikin Industries and Carrier are known for providing sophisticated air conditioning systems that offer energy efficiency for both commercial and industrial uses. Trane Technologies and Johnson Controls dominate the market via their integrated chiller systems, which provide high-performance capabilities, are precise in temperature control, and facilitate quick decisions by providing real-time data about how a chiller operates during both regular and critical scenarios. Several other leading businesses also assist in expanding and enhancing the overall chillers market by providing innovative products that allow for greater workflow efficiency and greater levels of environmental protection.

Leading manufacturers have significantly impacted the growth of chiller systems throughout the entire country.

US CHILLERS MARKET: MARKET RANKING

The ranking of companies is based on several key factors that reflect their market position, capabilities, and overall contribution to the industry. The top 5 players in the US chillers market have been identified based on their revenue, market share, product offerings, production capacity, innovation, technological advancements, geographical presence, strategic partnerships, financial performance, and sustainability efforts. These key players continue to lead the market by maintaining a competitive edge and delivering high-quality chillers to various end-use industries. Major players operating in the market include Daikin Industries (Japan), Trane Technologies (Ireland), Carrier (US), Johnson Controls (Ireland), Mitsubishi Electric (Japan), Smardt Chiller Group (Canada), Drake Refrigeration (US), PolyScience (US), Dimplex Thermal Solutions (US), and LG Electronics (South Korea).

Related Reports:

US Chillers Market by Type (Scroll, Screw, Centrifugal, Reciprocating, Absorption), Medium (Air Cooled, Water Cooled, Liquid Coolant), End-Use Industry (Commercial, Plastics, Food & Beverage, Chemicals, Pharmaceuticals) - Forecast to 2031

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