The Vietnam chiller market is projected to grow at a CAGR of 5.20% between 2025 and 2034.
Base Year
Historical Year
Forecast Year
Growing infrastructural development in Vietnam, the rise of end-use sectors such as food and beverage and manufacturing, and increased demand for cooling systems in residential and commercial sectors are some of the prominent market drivers that are expected to positively influence the Vietnam chiller market dynamics and trends in the future.
Vietnam's tropical climate, known for its high temperatures and humidity, requires effective cooling solutions in different industrial sectors, leading to an increased demand for chillers. Additionally, the growing number of infrastructure facilities is also aiding in the market development. Furthermore, increased efforts by the government to encourage the growth of smart cities are anticipated to enhance the demand for energy-efficient cooling solutions such as chillers.
Advancements in chiller technology such as the development of energy-efficient and eco-friendly chillers are some of the crucial trends in the market as these innovations can reduce the operational costs of chillers and ensure compliance with environmental regulations. Hence the sales of chillers are witnessing significant growth and increasing the Vietnam chiller market revenue.
Growth of end consumer sectors, a surge in demand for air conditioning and refrigeration, and an increasing number of government initiatives are expected to shape the chiller demand growth.
With the rapid expansion of manufacturing industries, particularly those of food & beverages and pharmaceuticals as well data centers have been driving the chiller demand as energy saving is of paramount importance. Vietnam is undergoing rapid urbanisation and construction of new commercial spaces like shopping malls, office buildings and hotels which is increasing the demand for effective cooling solutions.
Growing food and beverage and pharmaceutical industries in Vietnam have opened up a lot of opportunities for the cooling systems which use chiller as an important element. These are industries that demand strict standards and quality adherence with regards to temperature controlling, so that the product or service is not affected. The development of tourism and hospitality sector in Vietnam is also propelling the demand for chillers. Chillers are in great demand for hotels, resorts and other entertainment industries.
As per Vietnam chiller industry analysis, in H1 2024, Vietnam’s Gross Domestic Product (GDP) grew by 6.42% on a year-on-year basis. The rising incomes in Vietnam combined with the high economic growth have both led to more and more people buying air conditioning systems and refrigeration systems for their houses and businesses. This has been a key factor in propelling the chiller market sales, due to the greater need for air conditioners and refrigeration units.
To tackle environmental pollution and increase efficiency in power consumption, the Vietnamese government is encouraging buildings that use cooling systems operating on green energy supply. This is being accomplished through initiatives like the Vietnam Green Cooling Programme operated by the Vietnamese Energy and Environment Consultancy (VNECC). In addition, the country has imposed more stringent requirements for the coefficient of performance (COP) of chillers. This ensures that only the most efficient cooling systems are produced and utilized leading to reduced energy consumption and pollution.
“Vietnam Chiller Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:
Market Breakup by Type of Cooling:
Market Breakup by Compressor Type:
Market Breakup by End Use:
Based on end use, the market is divided into food and beverage, chemicals and petrochemicals, medical and pharmaceutical, and plastics, among others. The food and beverage sector occupies a substantial market share to meet the rising demand for processed and packaged goods both locally and internationally. Additionally, the demand for chillers is on the rise as several large-scale production facilities in Vietnam seek efficient and dependable cooling solutions.
The market participants are producing eco-efficient chillers to reduce their operational costs.
*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.*
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The market is estimated to grow at a CAGR of 5.20% between 2025 and 2034.
The market is being driven due to growing infrastructural development in Vietnam, the rise of end-use sectors such as food and beverage and manufacturing, and increased demand for cooling systems in the residential and commercial sectors.
The key trends aiding the market include Vietnam's tropical climate requiring effective cooling solutions in different industrial sectors, increased efforts by the government to encourage the growth of smart cities, and advancements in chiller technology.
Based on the type of cooling, market segmentations include water cooled and air cooled.
Various end uses are 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, Panasonic Holdings Corp., Mitsubishi Electric Corporation, and Ebara Corp., among others.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2024 |
| Historical Period | 2018-2024 |
| Forecast Period | 2025-2034 |
| 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 |
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| Breakup by Compressor Type |
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| Breakup by End Use |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-723-689-1189
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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