Canada Chiller Market Report and Forecast 2024-2032

Canada Chiller Market Size

The Canada chiller market reached around USD 149.56 million in 2023. The market is projected to grow at a CAGR of 3.8% between 2024 and 2032, reaching almost USD 208.91 million by 2032.

Canada Chiller Market Outlook

• As per Statistics Canada, 64% of Canadian households owned air conditioning systems in 2021.

• Around 55% of carbon emissions in Vancouver come from heating buildings with natural gas.

• Eco-friendly chillers are expected to witness a surge in sales over the forecast period.

Canada Chiller Market Growth

Major Canadian universities, including the University of Windsor, are introducing emission reduction programmes to enhance the students’ on-campus experience and facilitate the achievement of national net zero goals by 2050. As a part of this plan, the installation of hybrid chillers, which run on both electricity and steam, is expected to witness a significant increase in adoption. As this can result in significant annual savings, the government of Canada is expected to incentivise such initiatives, thereby contributing to the market growth.

The food and beverage sector is expected to emerge as one of the leading end users of chillers in Canada. Major market players are introducing high-quality chillers for refrigerating wine bottles in compact spaces, including homes, restaurants, and tiny entertainment rooms. To ensure alcohol is stored at optimum temperature conditions, such chillers are integrated with LED displays and intuitive touchpad controls, which enhance the user experience and impart a visually appealing look to the machine. Customisable storage is also a key feature of such chillers and the presence of notable characteristics like secure door lock, auto defrost setting, and QR code for obtaining product information are expected to drive the consumer demand for such products in the forecast period.

Canada Chiller Industry Segmentation

Canada 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

• British Columbia

• Alberta

• The Prairies

• Central Canada

• Atlantic Canada

Canada Chiller Market Share

Based on the type of cooling, the market is divided into water cooled and air cooled. Over the forecast period of 2024-2032, water cooled chillers are estimated to grow at a CAGR of 4.2% as they boast longer lifespan, energy efficiency, quiet operation, and safety.

Leading Companies in the Canada Chiller Market

Major market players are launching energy-efficient models of chillers for various commercial and residential uses.

• Daikin Industries Ltd.

• Carrier Global Corp.

• LG Corp.

• Johnson Controls International Plc

• Trane Technologies Plc

• Fluid Chillers, Inc.

• Panasonic Holdings Corp.

• Mitsubishi Electric Corporation

• Midea Group Co. Ltd.

• HYDAC International GmbH

• Others

Key Highlights of the Report