Recirculating Chillers Market to Grow at 10.8% CAGR from 2025-2029

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The Business Research Company’s Recirculating Chillers Global Market Report 2025 - Market Size, Trends, And Global Forecast 2025-2034

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What Is The Recirculating Chillers Market Size And Growth?
In recent years, there has been a swift expansion in the market size for recirculating chillers¹. The market, which was worth $1.65 billion in 2024, is projected to increase to $1.83 billion in 2025, boasting a compound annual growth rate (CAGR) of 11.2%. Multiple factors have contributed to this growth during the historic period, including the surge in automation across industrial processes, rising application in research and educational institutions, elevated usage in semiconductor manufacturing, substantial investment in healthcare infrastructure, and an increased awareness regarding the necessity of precise temperature control.

In the coming years, the recirculating chillers market is projected to experience a significant expansion. By 2029, it will expand to $2.76 billion, with a compound annual growth rate (CAGR) of 10.8%. Factors contributing to the estimated growth during the forecast period include the development of healthcare and diagnostic facilities, increasing investments in laboratories and research infrastructure, the expansion of industrial and electronics manufacturing, the increasing demand for IoT-enabled chillers, and a surge in the use of environmentally friendly refrigerants. Forecasted trends include advancements in IoT-enabled chillers, the development of energy-efficient cooling technologies, the usage of eco-friendly refrigerants, enhancements in user-friendly interface designs, and innovative practices in creating compact and portable chillers.

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What Are The Current Leading Growth Drivers For Recirculating Chillers Market?
The anticipated growth of the recirculating chillers market is linked to the growing utilisation of medical imaging equipment. Devices like MRI machines, CT scanners, and PET scanners, which generate detailed images of the body's internal structures and functions for diagnostic purposes, make up what falls under the definition of medical imaging equipment. Factors such as the escalating demand for precise and timely diagnosis, healthcare infrastructure development, and enhancements in imaging technology that demand strict temperature control for excellent performance are leading to their increased usage. Recirculating chillers offer uniform cooling and temperature regulation to the medical imaging equipment, guaranteeing consistent performance and prolonging the sensitive components' lifespan. For example, a forecast by Vizient Inc., a Healthcare performance enhancement firm in the US, suggests that standard outpatient imaging volumes will likely see a growth of around 10% in the next decade, while growth in advanced imaging procedures is expected at nearly 14%, as of November 2023. Thus, the increasing adoption of medical imaging equipment is fuelling the growth of the recirculating chillers market.

Which Companies Are Currently Leading In The Recirculating Chillers Market?
Major players in the Recirculating Chillers Global Market Report 2025 include:
• Thermo Fisher Scientific Inc.
• SMC Corporation
• VWR International LLC
• Glen Dimplex Group Plc
• Boyd Group
• BÜCHI Labortechnik GmbH
• Cole-Parmer Instrument Company LLC
• Peter Huber Kältemaschinenbau SE
• Polysciences Inc.
• ICS Cool Energy Limited.

What Are The Key Trends And Market Opportunities In The Recirculating Chillers Sector?
Key participants in the recirculating chillers industry are putting their efforts into creating compact thermoelectric recirculating chillers to boost accurate and effective temperature regulation in advanced sensing and imaging applications. A compact thermoelectric recirculating chiller is a cooling system in a closed circuit that utilizes thermoelectric modules to provide a high degree of temperature control accuracy while keeping the physical size compact, which is ideal for delicate electronic, laboratory, and optical devices. For example, in August 2025, Tark Thermal Solutions, a Chinese firm specializing in advanced thermal management technologies, introduced the NRC400 from Nextreme. The product, with its compact layout, provides highly consistent cooling performance, enabling precise temperature control in imaging and camera-based systems. The design prioritizes enhanced energy efficiency, dependable operation, and its applicability in high-performing laboratory and sensing scenarios.

How Is The Recirculating Chillers Market Segmented?
The recirculating chillers market covered in this report is segmented –

1) By Type: Air-Cooled, Water-Cooled
2) By Technology: IoT-Enabled Chillers, Energy-Efficient Chillers, Eco-Friendly Refrigerant Chillers
3) By Distribution Channel: Direct Sales, Distributors, Online Retail
4) By Application: Laboratory Equipment Cooling, Semiconductor Manufacturing, Medical Imaging Systems, Industrial Processes
5) By End User: Healthcare, Industrial, Research And Academic Institutions, Electronics

Subsegments:
1) By Air-Cooled: Single Compressor Units, Dual Compressor Units, Portable Air-Cooled Chillers, Rack-Mounted Air-Cooled Chillers
2) By Water-Cooled: Closed-Loop Water-Cooled Chillers, Open-Loop Water-Cooled Chillers, Modular Water-Cooled Chillers, High-Capacity Water-Cooled Chillers

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Which Is The Dominating Region For The Recirculating Chillers Market?
In the 2025 Recirculating Chillers Global Market Report, North America was identified as the most dominant region for the given year. It is anticipated that Asia-Pacific will witness the swiftest growth during the forecast period. The report incorporates regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

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