The APAC chiller market growth is facilitated by the growing hospitality sector in the region. The hospitality industry is flourishing due to the growing tourism sector in Vietnam, India, Thailand, Indonesia, Japan, and China. Additionally, the expansion of the food and beverage industry due to the booming population is boosting the market growth. China and India are emerging as the largest consumer bases for food and beverage companies, both domestic and international.

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Chillers are used here to keep not only the factory cool, but also the ingredients and final products. The chiller type segment of the APAC chiller market is categorized into screw, absorption, scroll, reciprocating, and centrifugal. Among these, the screw category accounted for the largest market share in 2018. This category is further bifurcated into water-cooled and air-cooled. The growth of the screw category can be attributed to the widescale adoption of water-cooled screw chillers in hotels, retail outlets, hospitals, and small factories due to their cost-effective and environment-friendly features.

In APAC, China generated the highest demand for such chillers in 2018 owing to the rising focus of the government on adopting R-134a, an eco-friendly refrigerant. Currently, the APAC chiller industry is highly competitive owing to the presence of an umpteen number of regional and global players. Key companies offering such appliances in the region are Ingersoll-Rand plc, Daikin Industries Ltd., United Technologies Corporation, Johnson Controls International plc, and Midea Group Co. Ltd.

One of the leading players, Daikin Industries Ltd. has a strong presence in India, Thailand, Japan, Australia, and China. Other major players in the market include Mitsubishi Electric Corporation, Multistack LLC, Thermal Care Inc., Smardt Chiller Group Inc., and Thermax Limited. Thus, the growth of the infrastructure and hospitality sectors will stimulate the demand for chillers in APAC in the future.