According to our latest study on "Air Cooled Chillers Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis - by Process, Application, and Type," the back of cab market size was valued at US$ 971.42 million in 2024 and is expected to reach US$ 1614.43 million by 2031; it is estimated to record a CAGR of 7.6% from 2025 to 2031.

The air cooled chillers market is segmented into five major regions-North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America. Aisa Pacific dominated the market in 2024, followed by Asia Pacific and Europe respectively. The air cooled chillers market in North America is segmented into the US, Canada, and Mexico. The region's mature economy supports continuous investment in commercial real estate, including office buildings, data centers, hospitals, and shopping malls, all of which require efficient HVAC systems. Air-cooled chillers are favored in suburban areas or areas with limited space where the installation of cooling towers and the associated water treatment for water-cooled systems is impractical or prohibitively expensive. The evolving regulatory landscape, exemplified by standards such as ASHRAE 90.1 and Department of Energy (DOE) regulations, mandates increasingly higher energy efficiency levels. In response, manufacturers are innovating with variable speed drives (VSDs), advanced compressors, and intelligent controls that enable chillers to modulate capacity precisely to match the load, thereby reducing energy consumption during partial-load conditions -the predominant operating state for most buildings.

Data centers across the US and Canada require 24/7 cooling with extreme reliability. Air cooled chillers offer a simpler, more contained system with lower maintenance requirements compared to water-cooled alternatives, mitigating risks associated with water leaks in critical environments. The trend toward retrofitting and replacing aging HVAC infrastructure in existing buildings contributes significantly to demand, as building owners seek to lower operational costs and improve sustainability profiles with modern, efficient air cooled chiller plants.

The HVAC sector, particularly in commercial and institutional buildings, seeks air cooled chillers due to their ease of installation, lower maintenance costs, and adaptability to varied climates. Additionally, stricter environmental regulations encourage the adoption of energy-efficient cooling technologies, prompting manufacturers to innovate with advanced refrigerants and intelligent controls. The growing emphasis on sustainability and green building certifications, such as LEED, fuels demand. Regions with extreme temperature variations, including the South and Southwest, require reliable cooling solutions. The surge in data centers and healthcare infrastructure accentuates the need for air cooled chillers, which offer flexible operation without extensive water usage, aligning with water conservation efforts.

Key Findings of the Air Cooled Chillers Market Study:

The air cooled chillers market is segmented into process, application, and type. Based on process, the global air cooled chillers market is segmented into continuous flow chillers and immersion chillers. The continuous flow chillers segment held the largest share of the air cooled chillers market in 2024. By application, the market is segmented into fuel tanks and general storage. The fuel tanks segment held the largest share of the back of cab market in 2024. By application, the market is segmented into industrial manufacturing, food and beverage processing, medical equipment, and others. The industrial manufacturing segment held the largest share of the air cooled chillers market in 2024. By type, the market is segmented into machine tool, laser systems, and others. The machine tool segment held the largest share of the air cooled chillers market in 2024. By geography, the air cooled chillers market is segmented into North America, Asia Pacific, Europe, the Middle East & Africa, and South & Central America.

Stulz SpA, Mitsubishi Heavy Industries Ltd, Daikin Industries Ltd, Johnson Controls International Plc, Panasonic Holdings Corp, HYDAC International GmbH, Blue Star Ltd, Carrier Global Corp, Trane Technologies Plc, and Thermo Fisher Scientific Inc. are among the key players profiled in the air cooled chillers market report. Several other major players were studied and analyzed during the air cooled chillers market analysis to get a holistic view of the market and its ecosystem. The air cooled chillers market also provides detailed market insights, which help the key players strategize their growth. The report includes growth prospects owing to the current air cooled chillers market trends and their foreseeable impact during the forecast period.

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