In terms of value, the chillers market in China was valued at US$ XX million in 2022 and is projected to reach US$ XX million by 2030; it is expected to grow at a CAGR of 4.6% during the forecast period.
Rising disposable income, increasing technological advancements, rise in real estate construction for residential purpose, and growing commercial space across the country are the factors driving the Chiller market. The growth of the construction industry plays a significant role in boosting the Chinese Chiller market. New constructions in the residential, commercial, and industrial sectors have increased the demand for HVAC systems, cumulating into demand for HVAC chiller. Innovations in building design and the increased focus on energy efficiency in buildings have created an opportunity for HVAC chiller manufacturers to expand their foothold in the market. Moreover, ongoing initiatives such as green building construction by several emerging and developed countries is providing huge growth opportunities for the market. Furthermore, People’s Republic of China had the fastest growth in space cooling energy consumption worldwide in the last two decades, driven by increasing income and growing demand for thermal comfort due to which the total number of installed residential cooling units (including dehumidifier, fans, and HVAC chillers) are expected to reach over 1.1 billion in 2030 are supporting the growth of the market.
are the key Chillers Market players profiled in the report.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ XX Million |
| Market Size by 2030 | US$ XX Million |
| Global CAGR (2022 - 2030) | 4.6% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2030 |
| Segments Covered |
By Chiller Technology
|
| Regions and Countries Covered | China
|
| Market leaders and key company profiles |
The List of Companies - Chillers Market