India Chiller Market Size, Share and Growth Analysis Report - Forecast Trends and Outlook (2025-2034)

India Chiller Market Growth

In February 2024, DPIIT mandated the issuance of BIS certification for self-contained water coolers with the objective of improving their performance and ensuring safe access to water within households.

Major market players in India’s HVAC industry are expected to bolster their production capacities to manufacture oil-free centrifugal compressors, which can deliver energy-efficient performance in air conditioning systems and minimise carbon emissions.

The establishment of modern testing facilities that simulate the different operating conditions for chillers as per their individual design and purpose is expected to witness a surge in demand for performance-tested chillers. This is because various government agencies, such as the Air Conditioning, Heating, and Refrigeration Institute (AHRI) are certifying such companies which are receiving increasing consumer attention.

The introduction of the Chiller Star Labelling Programme by the Indian government is expected to drive the growth of sustainably designed chillers delivering energy-efficient performance. Since chillers account for nearly 40% of electricity consumption in commercial buildings, the implementation of this regulation is expected to promote sustainability. Under this programme, the government has created an online registration platform where companies can get registered for getting their equipment rated on a scale of 1-5. This is expected to result in savings of four billion electricity units by 2030 and reduce carbon dioxide emissions by 3.5 million tons.

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Purchase the Regional Overview for USD 1099

If you choose to purchase the full report at a later stage, the amount already paid will be adjusted, and you will only need to pay the remaining balance.

Key Trends and Developments

India Chiller Market Trends

The robust growth of the food and beverage industry is boosting the India chiller market revenue. As per the Indian Brand Equity Foundation, the food processing sector in India is estimated to reach USD 1,274 billion in 2027 amid rising disposable incomes, changing lifestyles, and rapid urbanisation. Chillers play an essential role in maintaining precise temperatures during food and beverage packaging and production. With the growing trend of sustainability in the food and beverage sector, manufacturers are adopting chillers that use advanced technologies and eco-friendly refrigerants to minimise resource usage and lower their environmental impact.

India Chiller Industry Segmentation

India Chiller Market Share

Based on the type of cooling, the market is segmented into air cooled and water cooled. Air cooled chillers are projected to grow at a CAGR of 6.1% during the forecast period of 2025-2034 as they are affordable and easy to install and maintain. They do not require a dedicated water supply to cooling towers, making them more flexible to install in existing buildings. Meanwhile, water cooled chillers, more efficient than their air cooled counterparts, are effective in hotter climates, occupy less space, and are energy efficient.

Leading Companies in the India Chiller Market

Other major players in the India chiller market are Johnson Controls International Plc, Trane Technologies Plc, Smardt Chiller Group, Inc., Panasonic Holdings Corp., Mitsubishi Electric Corporation, and HYDAC International GmbH, among others.