India Chiller Market to Grow with a CAGR of 8.35% through 2030F
The India Chiller Market is driven by rapid
industrialization, increasing demand for cooling in sectors like manufacturing,
HVAC, and healthcare, along with rising temperatures.
According
to TechSci Research report, “India Chiller Market – By Region, Competition, Forecast & Opportunities, 2020-2030F”, the India Chiller Market was valued at USD 627.79 Million in 2024
and is expected to reach USD 1,015.14 Million by 2030 with a CAGR of 8.35% during
the forecast period. The
India Chiller market has experienced substantial growth in recent years, owing
to the rapid growth of industrial and commercial sectors, which significantly
increases the demand for energy-efficient and reliable cooling systems. As
industries like manufacturing, pharmaceuticals, and food processing expand, the
need for high-performance chillers to maintain optimal temperatures and ensure
smooth operations becomes more critical. Also, the rising construction of
commercial infrastructure such as office buildings, malls, and hotels further
boost the demand for chillers in HVAC systems. Government incentives promoting
energy efficiency, alongside a growing focus on sustainability, are encouraging
businesses to adopt advanced, eco-friendly chiller solutions. This shift toward
energy-efficient and sustainable cooling technologies is a key factor driving
market growth in India.
The India Chiller market is driven by
the growing expansion of corporate offices is a significant driver for the
India Chiller market. As businesses continue to establish new offices and
expand existing ones, the demand for efficient and reliable cooling systems has
surged. Corporate offices, especially in urban centers like Bengaluru, Delhi,
and Mumbai, require robust HVAC systems to maintain comfortable working
environments for employees, which is where chillers play a crucial role.
Chillers are favored for their ability to provide consistent and
energy-efficient cooling across large office spaces, reducing operational costs
while ensuring optimal indoor climate control. As the demand for commercial
real estate grows, particularly in the IT, finance, and service sectors, the
chiller market sees increased adoption driven by the need for high-capacity,
energy-efficient cooling systems to meet the cooling requirements of expanding
office spaces.
Browse
over xx market data Figures spread through xx Pages and an in-depth TOC on
" India Chiller Market”
The India Chiller
Market is segmented into product type, end user, and region.
Based
on product type, scroll is the fastest-growing segment in the India Chiller
market, primarily due to their energy efficiency, compact design, and
reliability. These systems are increasingly favored in commercial and
industrial applications where space constraints and energy savings are key
considerations. Scroll chillers offer several advantages, including lower
operational costs, quieter operation, and minimal maintenance needs compared to
other types of chillers. With rising demand for energy-efficient and
environmentally friendly solutions, scroll chillers are becoming a preferred
choice for sectors like IT, healthcare, and hospitality. Their scalability and
ability to provide consistent cooling in diverse applications contribute to
their rapid market growth in India.
Based on region, South region of India is the fastest
growing in the Chiller market, driven by rapid industrialization, urbanization,
and an increasing demand for energy-efficient cooling solutions. Cities like
Chennai, Hyderabad, and Bengaluru are experiencing significant growth in
commercial, industrial, and IT infrastructure, leading to a higher demand for
chillers. Also, sectors like pharmaceuticals, manufacturing, and hospitality in
the region require reliable and energy-efficient cooling systems. The South's focus
on sustainability and government incentives further supports the adoption of
advanced chiller technologies. As the region continues to expand, the demand
for chillers is expected to rise, making it a key growth area in the market.
Major companies
operating in India Chiller Market are:
- Daikin
Air Conditioning India Pvt Ltd
- Blue
Star Limited
- Voltas
Limited
- Carrier
Airconditioning & Refrigeration Ltd
- Johnson
Controls-Hitachi Air Conditioning India Limited
- Kirloskar
Chillers Pvt Ltd
- LG
Electronics India Pvt. Ltd.
- Mitsubishi
Electric India Pvt. Ltd. (Climaveneta)
- Flamingo
Chillers
- Thermax
Limited
Download Free Sample Report
Customers can
also request for 10% free customization in this report.
“The India Chiller Market is driven due
to an increased focus on sustainability and rapid urbanization. As the country
works toward reducing its carbon footprint and meeting energy efficiency goals,
there is a growing demand for energy-efficient and eco-friendly cooling
solutions, driving the adoption of advanced chiller technologies. The shift
towards low-GWP refrigerants and energy-efficient systems is particularly
evident in industrial, commercial, and residential sectors. Also, urbanization
is fuelling demand for chillers in the expanding infrastructure, such as
residential complexes, office buildings, hospitals, and retail spaces. With
more people moving to urban centers, there is a greater need for reliable and
efficient cooling systems, making the focus on sustainability and urbanization
key drivers in the India Chiller market”, said Mr. Karan
Chechi, Research Director of TechSci Research, a research-based management
consulting firm.
“India Chiller Market By
Product Type (Screw, Centrifugal, Scroll, Absorption), By End Use (Industrial, Commercial), By Region, Competition, Forecast
& Opportunities, 2020-2030F”, has evaluated the future growth potential
of India Chiller Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in the India Chiller
Market.
Contact Us-
TechSci
Research LLC
420 Lexington
Avenue, Suite 300,
New York, United
States- 10170
M: +13322586602
Email: sales@techsciresearch.com
Website: www.techsciresearch.com