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Australia Chiller Market Size, Share, Growth, Forecast: By Type of Cooling: Water Cooled, Air Cooled; By Compressor Type: Screw Chillers, Scroll Chillers, Reciprocating Chillers, Centrifugal Chillers, Absorption Chillers; By End Use: Food and Beverage, Chemicals and Petrochemicals, Others; Regional Analysis; Competitive Landscape; 2024-2032
Australia Chiller Market Size
The Australia chiller market reached a value of approximately USD 371.07 million in 2023. The market is projected to grow at a CAGR of 4.60% between 2024 and 2032, reaching a value of around USD 556.21 million by 2032.
Australia Chiller Market Outlook
- As per industry reports, in 2023, Australia’s import of medical devices reached USD 5334 million due to the ageing population which drives the demand for chillers in the medical sector.
- In October 2022, Euroklimat dispensed an R290 air- cooled propane chiller to a Coles Supermarket for air conditioning. This is Australia’s first retail installation.
- In March 2024, Johnson Controls confirmed cyber security compliance for three chiller solutions certified by exida- a leading company for product certification.
Australia Chiller Market Growth
The chiller market is poised for significant growth due to several factors such as growing environmental concerns, increased consumption of frozen food, demand for efficient storage systems, and continuous innovation in chiller technology. Additionally, there is increased emphasis on manufacturing energy-efficient chillers to conserve energy and reduce global warming-causing emissions.
Rapid automation in industries such as food and beverages has fueled the demand for smart connected chillers that can aid operations through data-driven insights in real time and analytics and improve performance and reduce downtime. Constant improvisation in technology by prominent players is propelling market growth in Australia. For instance, in July 2023, Daikin Industries Ltd. introduced a third-generation R32 scroll chillers equipped with an increased capacity range of 1,012kW. It displays superior performance and has a smaller footprint. The availability of different types of chillers for industry-specific usage is another factor driving market expansion. For instance, the pharmaceutical sector uses reciprocating, centrifugal, and screw-driven chillers in their operations.
Moreover, the government has taken several initiatives to promote energy efficiency and more sustainable chiller systems. For instance, the Heating, Ventilation and Air Conditioning High-Efficiency Systems Strategy (HVAC HESS) has been devised to facilitate long-term improvements in the energy efficiency of HVAC systems including chillers across the country in the next ten years.
Australia Chiller Industry Segmentation
“Australia Chiller Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type of Cooling
- Water Cooled
- Air Cooled
Market Breakup by Compressor Type
- Screw Chillers
- Scroll Chillers
- Reciprocating Chillers
- Centrifugal Chillers
- Absorption Chillers
Market Breakup by End Use
- Food and Beverage
- Chemicals and Petrochemicals
- Medical and Pharmaceutical
- Plastics
- Others
Market Breakup by Region
- New South Wales
- Victoria
- Queensland
- Australian Capital Territory
- Western Australia
- Others
Australia Chiller Market Share
Based on end use, the market is primarily bifurcated into food and beverage, chemicals and petrochemicals, medical and pharmaceutical, and plastics, among others. The chemicals and petrochemicals sector in Australia holds a significant position in terms of the market as chillers prevent overheating of equipment, help in maintaining product quality, and control temperature during chemical and separation processes. Other sectors also deploy chiller systems on a large scale for smooth functioning. Furthermore, as a result of the growing need for chemicals and petrochemicals, new production facilities are being built and existing ones are being expanded, which increases the need for chillers and other cooling equipment.
Leading Companies in Australia Chiller Market
Market players are continuously improving chiller technology to meet regulatory standards and the government’s vision for sustainability.
- Daikin Industries Ltd.
- Carrier Global Corp.
- LG Corp
- Johnson Controls International Plc
- Trane Technologies Plc
- Smardt Chiller Group, Inc.
- Panasonic Holdings Corp.
- Mitsubishi Electric Corporation
- Others
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type of Cooling |
|
| Breakup by Compressor Type |
|
| Breakup by End Use |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 Asia Pacific Chiller Market Overview
8.1 Key Industry Highlights
8.2 Asia Pacific Chiller Historical Market (2018-2023)
8.3 Asia Pacific Chiller Market Forecast (2024-2032)
9 Australia Chiller Market Overview
9.1 Key Industry Highlights
9.2 Australia Chiller Historical Market (2018-2023)
9.3 Australia Chiller Market Forecast (2024-2032)
10 Australia Chiller Market by Type of Cooling
10.1 Water Cooled
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Air Cooled
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
11 Australia Chiller Market by Compressor Type
11.1 Screw Chillers
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Scroll Chillers
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 Reciprocating Chillers
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 Centrifugal Chillers
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Absorption Chillers
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
12 Australia Chiller Market by End Use
12.1 Food and Beverage
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Chemicals and Petrochemicals
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Medical and Pharmaceutical
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Plastics
12.4.1 Historical Trend (2018-2023)
12.4.2 Forecast Trend (2024-2032)
12.5 Others
13 Australia Chiller Market by Region
13.1 New South Wales
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 Victoria
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Queensland
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 Australian Capital Territory
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Western Australia
13.5.1 Historical Trend (2018-2023)
13.5.2 Forecast Trend (2024-2032)
13.6 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Daikin Industries Ltd.
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Carrier Global Corp.
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 LG Corp.
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Johnson Controls International Plc
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Trane Technologies Plc
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Smardt Chiller Group, Inc.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Panasonic Holdings Corp.
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Mitsubishi Electric Corporation
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Asia Pacific Chiller Market: Key Industry Highlights, 2018 and 2032
2. Australia Chiller Market: Key Industry Highlights, 2018 and 2032
3. Australia Chiller Historical Market: Breakup by Type of Cooling (USD Million), 2018-2023
4. Australia Chiller Market Forecast: Breakup by Type of Cooling (USD Million), 2024-2032
5. Australia Chiller Historical Market: Breakup by Compressor Type (USD Million), 2018-2023
6. Australia Chiller Market Forecast: Breakup by Compressor Type (USD Million), 2024-2032
7. Australia Chiller Historical Market: Breakup by End Use (USD Million), 2018-2023
8. Australia Chiller Market Forecast: Breakup by End Use (USD Million), 2024-2032
9. Australia Chiller Historical Market: Breakup by Region (USD Million), 2018-2023
10. Australia Chiller Market Forecast: Breakup by Region (USD Million), 2024-2032
11. Australia Chiller Market Structure
Key Questions Answered in the Report
In 2023, the market reached an approximate value of USD 371.07 million.
The market is estimated to grow at a CAGR of 4.60% between 2024 and 2032.
The Australia chiller market is estimated to witness healthy growth in the forecast period of 2024-2032 to reach a value of USD 556.21 million by 2032.
The major drivers are the growing need for efficient storage, rising frozen food consumption, and innovations in chiller technology.
The key trends of the chiller market in Australia include the rise of smart connected chillers and demand for energy-efficient chillers.
The end use sectors include food and beverage, chemicals and petrochemicals, medical and pharmaceutical, and plastics, among others.
The major players in the market are Daikin Industries Ltd., Carrier Global Corp., LG Corp., Johnson Controls International Plc, Trane Technologies Plc, Smardt Chiller Group, Inc., Panasonic Holdings Corp., and Mitsubishi Electric Corporation, among others.
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