The global industrial chillers market is projected to grow from $4.1 billion in 2021 to $4.8 billion by 2026, at a CAGR of 3.0 percent during the forecast period.

According to a study by MarketsandMarkets, the increasing demand for chillers is attributed to regulations related to energy efficiency and emission standards imposed by governments, along with the competitive advantages of chillers in comparison to their substitute products. The report also stated that scroll chillers accounted for the larger market share, while absorption chillers are projected to be the faster-growing type of chillers. 

The full report can be accessed here.