The Global Chiller Unit Market was valued at USD 7.65 Billion in 2023 and is projected to reach USD 9.79 Billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 4.20% during the forecast period (2024–2029). This steady growth is fueled by rising demand for commercial air conditioning, stringent energy efficiency regulations, and increasing adoption in industrial process cooling applications.

As industries and commercial sectors intensify their focus on operational efficiency and environmental sustainability, the demand for advanced, energy-saving cooling solutions is surging. In this blog, we profile the Top 10 Companies in the Global Chiller Unit Market—a diverse group of industry titans and specialized innovators driving technological advancement and sustainable cooling practices worldwide.

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🔟 1. Trane Technologies plc

Headquarters: Swords, County Dublin, Ireland
Key Offering: CenTraVac® large tonnage chillers, Sintesis® air-cooled chillers, EarthWise™ chillers with low-GWP refrigerants

Trane Technologies is a global leader in the HVAC industry, renowned for its high-efficiency chillers that serve large commercial, industrial, and institutional buildings. The company’s portfolio includes centrifugal, screw, and scroll chillers known for their reliability and advanced controls that optimize energy consumption. Trane’s commitment to innovation is evident in its EarthWise™ portfolio, which utilizes next-generation, environmentally responsible refrigerants.

Sustainability Initiatives:

• Gigaton Challenge: Committed to reducing customer carbon emissions by one billion metric tons by 2030

• Pioneering chillers with ultra-low global warming potential (GWP) refrigerants like R-1233zd(E) and R-513A

• Advanced building automation and connected chiller services for predictive maintenance

Download FREE Sample Report:
Global Chiller Unit Market – View in Detailed Research Report

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9️⃣ 2. Carrier Global Corporation

Headquarters: Palm Beach Gardens, Florida, USA
Key Offering: AquaForce® series, AquaSnap® series, 19DV centrifugal chillers

Carrier, the company that invented modern air conditioning, remains a dominant force in the chiller market. Its extensive product range covers air-cooled and water-cooled chillers for various applications. A key strength lies in its centrifugal chiller technology, particularly the 19DV series, which sets benchmarks for efficiency with its magnetic bearing technology, reducing maintenance needs and energy consumption significantly.

Sustainability Initiatives:

• Commitment to achieving net-zero emissions across its value chain by 2050

• Development and promotion of chillers using Puron Advance® (R-454B), a lower-GWP refrigerant

• Abound™ digital platform for real-time chiller performance monitoring and optimization

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8️⃣ 3. Johnson Controls (including Hitachi)

Headquarters: Cork, Ireland
Key Offering: York® YK centrifugal chillers, YORK® YVAA magnetic bearing chillers, Hitachi screw chillers

Johnson Controls offers one of the broadest chiller portfolios through its YORK® brand and the integration of Hitachi’s advanced scroll and screw chiller technologies. The company specializes in large-capacity centrifugal chillers, with the YVAA model featuring oil-free magnetic bearing technology being a standout for its extreme efficiency and reliability in critical applications like data centers and hospitals.

Sustainability Initiatives:

• Sustainability-linked financing tied to environmental performance targets

• Leadership in chillers compatible with low-GWP refrigerants such as R-1233zd and R-513A

• OpenBlue digital solutions for holistic building and chiller management

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7️⃣ 4. Daikin Industries, Ltd.

Headquarters: Osaka, Japan
Key Offering: Magnitude® magnetic bearing chillers, Rebel® applied rooftop systems, water-cooled screw chillers

Daikin is a global powerhouse in air conditioning, with a strong chiller division that combines Japanese engineering precision with a focus on energy efficiency. The company’s Magnitude® centrifugal chiller is renowned as one of the world’s most efficient, utilizing oil-free magnetic bearing technology and the low-GWP R-1233zd(E) refrigerant. Daikin’s extensive R&D investment ensures continuous innovation in compressor and heat exchanger design.

Sustainability Initiatives:

• Environmental Vision 2050: Aiming for carbon-neutral operations and products

• Leadership in developing and scaling chillers using R-32 and other lower-GWP alternatives

• Daikin Intelligent Manager platform for optimizing chiller plant performance

Download FREE Sample Report:
Global Chiller Unit Market – View in Detailed Research Report

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6️⃣ 5. Mitsubishi Electric Corporation

Headquarters: Tokyo, Japan
Key Offering: City Multi chillers, water-cooled chillers, air-cooled chillers with VRF technology

Mitsubishi Electric leverages its expertise in power electronics and precision manufacturing to produce highly efficient chillers. The company is particularly strong in integrating chillers with Variable Refrigerant Flow (VRF) systems, offering flexible solutions for complex building requirements. Its chillers are known for quiet operation, reliability, and advanced controls that adapt to varying cooling loads.

Sustainability Initiatives:

• Environment Vision 2050: Commitment to creating a sustainable society through technology

• Innovation in heat pump chillers for simultaneous heating and cooling applications

• Focus on IoT-enabled chillers for predictive maintenance and energy savings

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5️⃣ 6. LG Electronics

Headquarters: Seoul, South Korea
Key Offering: Multi V Water, Air-cooled magnetic bearing chillers, High Efficiency Centrifugal Chillers

LG Electronics has made significant strides in the chiller market with its innovative magnetic bearing centrifugal and scroll chiller technologies. The Multi V Water series exemplifies LG’s strength in scalable, modular systems ideal for multi-zone applications. LG’s chillers are distinguished by their compact design, high energy efficiency ratios (EER), and integration with smart building management systems.

Sustainability Initiatives:

• Carbon neutrality goals aligned with global sustainability standards

• Development of chillers optimized for R-32 and R-1234ze refrigerants

• LG ThinQ™ technology for remote monitoring and AI-driven efficiency optimization

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4️⃣ 7. DunAn Environmental Microcha

Headquarters: Hangzhou, Zhejiang, China
Key Offering: Air-cooled screw chillers, Water-cooled chillers, Heat pump chillers

DunAn has grown into a major global player in the HVAC component and system markets. The company offers a comprehensive range of chillers, with a particular focus on energy-efficient screw compressor technology. DunAn’s competitive advantage lies in its vertical integration, manufacturing key components like valves and heat exchangers in-house, which ensures quality control and cost-effectiveness for a wide range of commercial and industrial applications.

Sustainability Initiatives:

• Investment in R&D for natural refrigerant-based chiller systems

• Expansion of product lines compatible with eco-friendly refrigerants

• Focus on high-efficiency models to meet stringent international energy standards

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3️⃣ 8. Dunham-Bush (a division of Mammoth)

Headquarters: Harrisonburg, Virginia, USA
Key Offering: Centrifugal Chillers, Screw Chillers, Condensing Units

With a history spanning over a century, Dunham-Bush is a respected name in commercial and industrial HVAC, known for robust and durable chiller systems. The company specializes in large-tonnage centrifugal and screw chillers designed for heavy-duty applications in hospitals, universities, and manufacturing facilities. Dunham-Bush chillers are engineered for long service life and ease of maintenance.

Sustainability Initiatives:

• Development of chillers for low-GWP refrigerants like R-513A and R-1233zd

• Focus on heat recovery chillers that capture waste heat for other building needs

• Implementation of advanced control systems to minimize energy consumption

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2️⃣ 9. Bosch Thermotechnology

Headquarters: Wernau, Germany
Key Offering: Water-cooled reciprocating chillers, Air-cooled chillers, High-temperature heat pumps

Bosch Thermotechnology combines German engineering with a strong focus on quality and efficiency. The company’s chiller portfolio includes solutions for both comfort cooling and industrial process applications. Bosch is particularly noted for its robust construction, precise temperature control, and seamless integration with other building systems, making it a preferred choice for demanding European and global markets.

Sustainability Initiatives:

• Climate goal: Carbon-neutral production at all locations by 2030

• Leadership in electrically driven compressor technologies for high efficiency

• Development of chillers using propane (R-290), a natural, ultra-low GWP refrigerant

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1️⃣ 10. Smardt Chiller Group Inc.

Headquarters: Montreal, Quebec, Canada
Key Offering: Oil-free centrifugal chillers, High-efficiency chillers with Turbo-Cor® compressors

Smardt Chiller Group is a specialist manufacturer focused exclusively on high-efficiency, oil-free centrifugal chillers. Using its proprietary Turbo-Cor® magnetic bearing compressors, Smardt chillers achieve remarkable energy savings, often 30-50% more efficient than conventional models. The company targets high-value applications like data centers, hospitals, and industrial processes where reliability and low lifetime operating costs are critical.

Sustainability Initiatives:

• Core technology eliminates refrigerant and oil contamination, enhancing environmental performance

• Specialization in chillers designed for low-GWP refrigerants like R-1233zd(E)

• Focus on total lifecycle cost reduction, emphasizing energy and maintenance savings

Read Full Report:
Global Chiller Unit Market – View in Detailed Research Report

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🌍 Outlook: The Future of Chiller Units Is Smarter and More Sustainable

The global chiller unit market is in a significant transition phase. While traditional vapor-compression technology remains the backbone, the industry is rapidly adopting intelligent controls, advanced refrigerants, and new compressor technologies to meet escalating efficiency demands and environmental regulations.

📈 Key Trends Shaping the Market:

• Accelerated adoption of low-GWP refrigerants (R-1233zd, R-513A, R-454B) to comply with global phasedown schedules

• Rising demand for oil-free magnetic bearing centrifugal chillers for superior efficiency and reliability in critical applications

• Integration of IoT and AI-driven predictive maintenance to optimize performance and prevent downtime

• Growing popularity of modular and scalable chiller plants for flexible capacity and redundancy

Read Full Report:
Global Chiller Unit Market – View in Detailed Research Report

The companies profiled above are not merely supplying cooling equipment—they are at the forefront of developing the energy-efficient and environmentally responsible thermal management solutions required for a sustainable future.