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

United States Chiller Market Growth

Nearly 16% of American households use heat pumps for heating/cooling their spaces. In September 2023, the United States Climate Alliance agreed to enhance their efforts to reach 20 million installations of heat pumps by 2030. Heat pumps powered by renewable sources of energy are comparatively more sustainable than conventional fossil fuel-based heat pumps as they emit 80% lesser carbon emissions and can result in annual savings worth $1000.

The federal government is encouraging the adoption of heat pumps among US households by providing a 30% tax credit on the total cost of purchase and installation (up to $2000 annually). Many regions like Connecticut, New York, and Maine are also providing additional financial incentives for low-income households if they choose to install air-source heat pumps. This is expected to drive the demand for chillers over the forecast period.

High-capacity chillers which are ideal for below-ground and above-ground installation and can withstand the impact of seismic waves during the occurrence of natural disasters like earthquakes are expected to become increasingly popular for a wide range of industrial and commercial applications in the United States.

Chillers which adhere to the quality standards prescribed by statutory bodies or government agencies like the Department of HCAI in California are expected to garner increasing consumer appeal in the forecast period.

Key Trends and Developments

United States Chiller Market Trends

In the United States chiller market, hybrid cooling systems, combining the benefits of both water and air cooled chillers, are gaining prominence. Such systems boast improved performance and flexibility, making them ideal for use in businesses requiring varying environmental conditions. Besides, there is a growing utilisation of advanced materials and coatings in chiller manufacturing to improve their strength and corrosion resistance and contribute to longer hardware life. In the forecast period, key players are expected to deploy innovative technologies such as augmented reality (AR) for the maintenance of chillers by gaining access to real-time information and guidance regarding investigation and repairs to minimise downtime.

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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.

United States Chiller Industry Segmentation

United States Chiller Market Share

Based on the type of cooling, the market is segmented into air cooled and water cooled. The air cooled segment is projected to grow at a CAGR of 4.3% during the forecast period of 2025-2034. Air cooled chillers are easy to install and maintain, can be easily operated in smaller spaces, and do not require a water supply to function. This makes them ideal for use in small to medium-sized commercial buildings and industrial settings with limited water resources. Meanwhile, water cooled chillers require a loop and a cooling tower and are ideal for installations for large buildings and industrial plants.

Leading Companies in the United States Chiller Market

Other major players in the United States chiller market are LG Corp., Fluid Chillers, Inc., Panasonic Holdings Corp., Mitsubishi Electric Corporation, Midea Group Co. Ltd., and HYDAC International GmbH, among others.