North America Industrial Chillers Market is expected to reach US$ 931.20 Million by 2031

Growth of Market for Renting and Leasing Industrial Chillers to Fuel North America Industrial Chillers Market Growth During Forecast Period 

According to our latest study, "North America Industrial Chillers Market Size and Forecast (2021–2031), Regional Share, Trend, and Growth Opportunity Analysis – by Chiller Type, Process, Application, and Country," the market was valued at US$ 646.39 million in 2023 and is expected to reach US$ 931.20 million by 2031; it is estimated to record a CAGR of 4.7% from 2023 to 2031. The report includes growth prospects owing to the current North America industrial chillers market trends and their foreseeable impact during the forecast period.

North America consists of various large enterprises and SMEs in various industries. They adopt several growth strategies that help them save costs and boost their revenue sales. One such strategy is renting and leasing industrial chillers.

North America Industrial Chillers Market

Renting or leasing industrial chillers offers a cost-effective solution to the market players in food and beverage processing, medical equipment manufacturing, and other industrial manufacturing. It gives them the leverage to rent high-cost equipment according to their needs and fluctuating product demand in the market. The manufacturers can use industrial chillers by renting them or returning them as the demand for the product increases or decreases. In addition, leasing or renting allows the market players to use technologically advanced industrial chillers and save costs on the significant investment for upgrading their equipment. The companies providing leasing and renting industrial chillers take responsibility for maintenance, repairs, and upgrades of these industrial chillers. It helps the market players using industrial chillers save on the cost of in-house expertise in industrial chiller maintenance and further helps them reduce operational costs. Such benefits of the rental and leasing solutions contribute to the market growth. The market players providing renting and leasing solutions include Berg Chilling Systems Inc. and Atlas Copco Group.  

Haskris; Dimplex Thermal Solutions; Thermo Fisher Scientific Inc.; Advantage Engineering, Inc.; HYDAC International GmbH; MTA S.p.A.; KKT chillers, Inc.; Drake Refrigeration Inc; Atlas Copco AB; Daikin Industries Ltd; Carrier Global Corp; Friulair Srl; Smardt Chiller Group Inc; Trane Technologies Plc; and Blue Star Ltd are among the key players profiled in the North America industrial chillers market report. Several other major players were also studied and analyzed during the market study to get a holistic view of the market and its ecosystem.

The North America industrial chillers market is segmented on the basis of chiller type, process, and application. Based on chiller type, the industrial chiller market is segmented into water cooled chillers and air cooled chillers. In terms of process, the industrial chiller market is segmented into continuous flow chillers and immersion chillers. Based on application, the industrial chiller market is segmented into food & beverage processing, medical equipment, industrial manufacturing, and others. The scope of the North America industrial chillers market report focuses on North America (the US, Canada, and Mexico).

Dynamic variations in food preferences, a rise in population, and an increase in demand for quality food and beverages have been driving the food and beverages industry. E-commerce has also been a driving force in the food and beverages industry. North American Free Trade Agreement (NAFTA), a trilateral trade agreement between Canada, Mexico, and the US, fosters the trade of food and beverages products among these countries with lesser tariffs and fuels the import activities in the food and beverages industry. NAFTA eliminated most Mexican and Canadian tariffs on exports of foods and beverages processed in the US. This factor has provided the US a competitive advantage in the global market. NAFTA has also benefitted Mexico in setting up and fostering its food and beverages industry by leveraging US technology and capital. This factor has contributed to the opening of new food and beverage plants across Mexico. For example, in September 2024, snack foods company Chomps announced the opening of a new, state-of-the-art processing plant in Mexico in 2025. In April 2024, Mission Foods Mexico, a subsidiary of Gruma SAB de CV, planned to invest US$ 46.5 million over the next five years to build a new snack plant in Puebla and expand its existing Huejotzingo tortilla, toast and fried food plant. Thus, the construction of new food plants generates the demand for industrial chillers in North America.  

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