Asia Pacific Rental Chiller Market Research Report Information by Chiller Type (Air-Cooled Rental Chillers, Water-Cooled Rental Chillers), by Capacity Range (Below 50 kW, 51 kW – 200 kW, 201 kW – 500 kW, 501-1000kW, 1001-1500kW, >1501kW), by End-Use Industry (Manufacturing & Industrial (Automotive, Food Beverage Processing, Pharmaceuticals, Electronics Semiconductor, Others), Commercial & Institutional (Data Centers, Healthcare, Hospitality, Corporate Offices Buildings, Others), Energy & Utilities (Power Plants, Oil Gas, Others), Ev

Asia Pacific Rental Chiller Market Overview

The Asia Pacific Rental Chiller Market was valued at USD 1.15 Billion in 2024. The Rental Chiller Market industry is projected to grow from USD 1.22 Billion in 2025 to USD 2.27 Billion by 2035, exhibiting a compound annual growth rate (CAGR) of 6.34% during the forecast period (2025-2035).

The rising demand for temporary cooling in industrial manufacturing processes and expanding data centers increasing need for efficient cooling solutions are driving the growth of the Rental Chiller market.

As per the Analyst at MRFR, the Asia Pacific rental chiller market is witnessing significant growth, driven by rising demand across industries such as food & beverage, healthcare, data centers, and industrial manufacturing. The region's rapid urbanization, coupled with an increasing number of infrastructure development projects, has fueled the need for temporary cooling solutions, particularly in emerging economies like India, China, and Southeast Asian nations. 

Additionally, climate change-induced temperature fluctuations and the need for energy-efficient cooling solutions are further boosting the adoption of rental chillers. Businesses increasingly prefer renting chillers over purchasing them due to lower upfront costs, flexible contract durations, and reduced maintenance expenses. This trend is particularly evident in sectors with fluctuating cooling needs, such as event management, commercial construction, and temporary industrial operations, where rental chillers provide a cost-effective and scalable alternative to permanent installations.

 FIGURE 1: ASIA PACIFIC RENTAL CHILLER MARKET VALUE (2019-2035) USD BILLION

 Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Asia Pacific Rental Chiller Market Opportunity

Increasing Demand for HVAC Systems in Commercial Buildings

The demand for Heating, Ventilation, and Air Conditioning (HVAC) systems in commercial buildings across the Asia Pacific region has been experiencing significant growth. This is primarily driven by rapid urbanization, expansion of commercial infrastructure, and the increasing need for energy-efficient climate control solutions. The rental chiller market, as a key component of the HVAC industry, is benefiting from this trend, as businesses seek cost-effective cooling solutions for offices, shopping malls, hotels, hospitals, and other commercial spaces. 

The preference for rental chillers over permanent installations is growing, particularly in situations where businesses require flexibility, temporary cooling, or a scalable solution for seasonal or project-based needs. One of the major factors contributing to the rising demand for rental chillers in commercial buildings is the increasing awareness of energy efficiency and sustainability. Governments in the Asia Pacific region are implementing stringent regulations to reduce carbon emissions and improve building energy efficiency. 

This has led to the adoption of advanced HVAC technologies, including energy-efficient chillers that can be rented instead of purchased. Many commercial facilities, including office spaces and retail establishments, opt for rental chillers to reduce their capital expenditure while ensuring compliance with green building regulations. Rental chiller providers are also investing in eco-friendly refrigerants and high-efficiency units to align sustainability goals and attract environmentally conscious businesses.

Asia Pacific Rental Chiller Market Segment Insights

Rental Chiller by Chiller Type Insights

Based on Chiller Type, the Asia Pacific Rental Chiller market has been segmented Air-Cooled Rental Chillers and Water-Cooled Rental Chillers. The Air-Cooled Rental Chillers segment dominated the market with a value of USD 721.06 million in 2024 and is expected to reach USD 1,459.23 million by 2035. Further, this segment is likely to register a CAGR of 6.63% during the projected period Air-cooled rental chillers are refrigeration systems that use ambient air to dissipate heat and cool process fluids. 

These chillers are equipped with condenser coils and fans, eliminating the need for a cooling tower, making them highly suitable for temporary cooling applications in locations with limited water availability. They are commonly used in commercial buildings, industrial manufacturing, and emergency cooling situations. Their modular design allows for easy installation and scalability, making them a preferred choice for businesses that require quick deployment.

FIGURE 2: ASIA PACIFIC RENTAL CHILLER MARKET SHARE BY CHILLER TYPE 2024 AND 2035 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Rental Chiller by Capacity Range Insights

Based on Capacity Range, the Asia Pacific Rental Chiller market has been segmented into Below 50 kW, 51 kW – 200 kW, 201 kW – 500 kW, 501-1000kW, 1001-1500kW and >1501kW. The 201 kW – 500 kW segment dominated the market with a value of USD 308.03 million in 2024 and is expected to reach USD 639.36 million by 2035. Further, this segment is expected to witness the highest growth with a CAGR of 6.87% over the forecast duration.  Rental chillers in the 201 kW – 500 kW range cater to mid-to-large-scale cooling applications, making them a preferred choice for industries requiring higher cooling loads. 

These chillers are commonly used in large commercial complexes, industrial plants, and critical infrastructure facilities such as data centers and telecommunications hubs, where maintaining precise temperature control is essential. Their deployment is particularly significant in large-scale food processing units, pharmaceuticals, and automotive manufacturing, where process cooling plays a vital role in ensuring product quality and equipment performance.

Rental Chiller by End-Use Industry Insights

Based on End-Use Industry, the Asia Pacific Rental Chiller market has been segmented into Manufacturing & Industrial (Automotive, Food Beverage Processing, Pharmaceuticals, Electronics Semiconductor and Others), Commercial & Institutional (Data Centers, Healthcare, Hospitality, Corporate Offices  Buildings and Others), Energy & Utilities (Power Plants, Oil Gas and Others), Events & Temporary Cooling (Exhibitions  Conferences, Sports  Entertainment Events and Others), Construction & Infrastructure and Others. 

The Manufacturing & Industrial segment dominated the market with a value of USD 421.45 million in 2024 and is expected to reach USD 842.38 million by 2035. Further, this segment is expected to witness growth with a CAGR of 6.51% over the forecast duration. The manufacturing and industrial sector is one of the largest consumers of rental chillers in Asia Pacific, covering industries such as automotive, food and beverage processing, pharmaceuticals, electronics and semiconductor, and others. 

These industries require precise cooling solutions to maintain process efficiency, ensure product quality, and enhance machinery performance. In the automotive industry, rental chillers are extensively used for cooling industrial processes such as metalworking, plastic molding, and paint curing. Many automotive manufacturing plants operate in high-temperature conditions, necessitating cooling solutions to prevent overheating of equipment. The ability to rent chillers provides flexibility during peak production seasons, plant expansions, or maintenance shutdowns.

Rental Chiller by Rental Duration Insights

Based on Rental Duration, the Asia Pacific Rental Chiller market has been segmented into Short-Term Rental (Up to 6 Months) and Long-Term Rental (Above 6 Months). The Short-Term Rental (Up to 6 Months) segment dominated the market with a value of USD 718.27 million in 2024 and is expected to reach USD 1,459.38 million by 2035. However, this segment is expected to witness the highest growth with a CAGR of 6.67% over the forecast duration.  

The Short-Term Rental segment in the Asia Pacific rental chiller market primarily caters to industries and businesses requiring temporary cooling solutions for a limited duration. This includes emergency cooling needs, seasonal demands, event-based requirements, and temporary cooling during maintenance or repairs of permanent chiller systems. Industries such as manufacturing, construction, healthcare, and data centers often rely on short-term rentals when faced with unexpected equipment failures or peak load demands. 

In regions with extreme summers, businesses opt for short-term rental chillers to handle temporary cooling needs without investing in permanent infrastructure. The ability to quickly deploy rental chillers provides a crucial advantage to businesses dealing with urgent cooling needs, ensuring operational continuity with minimal disruption.

Rental Chiller by Application Insights

Based on Application, the Asia Pacific Rental Chiller market has been segmented into Process Cooling, Comfort Cooling, Emergency Cooling, Seasonal Cooling and Others. The Process Cooling segment dominated the market with a value of USD 456.05 million in 2024 and is expected to reach USD 937.15 million by 2035. Further, this segment is expected to witness the highest growth with a CAGR of 6.78% over the forecast duration.  

Process cooling refers to the use of chillers to remove excess heat generated during industrial processes, ensuring optimal operating conditions for machinery and maintaining product quality. This application is critical in industries such as food & beverage, pharmaceuticals, chemicals, plastics, automotive, and manufacturing. These industries rely on rental chillers to provide precise temperature control for production lines, preventing overheating, maintaining efficiency, and ensuring consistent product quality. 

In chemical and pharmaceutical industries, rental chillers are used to cool reactors, mixers, and condensers, preventing unwanted chemical reactions due to excessive heat. The plastics and rubber industry uses chillers for injection molding and extrusion processes, where precise cooling is necessary to ensure product integrity.

Rental Chiller by Rental Solutions & Services Insights

Based on Rental Solutions & Services, the Asia Pacific Rental Chiller market has been segmented into Equipment Rental Solutions (Chiller Rental with Full Setup, Modular and Scalable Rental Chiller Solutions, Customizable Rental Packages and Others), Installation & Commissioning Services (On-Site Installation  Setup, Integration with Existing HVAC  Cooling Systems, Temporary Piping  Electrical Infrastructure Setup and Others), Operational & Maintenance Services, Energy Efficiency & Optimization Services, Dismantling & Relocation Services and Others. Equipment Rental Solutions dominated the market with a value of USD 634.11 million in 2024 and is expected to reach USD 1,213.17 million by 2035. 

However, Energy Efficiency & Optimization Services segment is expected to witness the highest growth with a CAGR of 7.03% over the forecast duration. Equipment Rental Solutions provide businesses with temporary cooling systems, offering flexibility for short-term or long-term requirements without the need for large capital investment. This segment includes various rental chiller configurations, such as air-cooled and water-cooled chillers, that are deployed based on specific cooling needs. One of the key offerings under this category is Chiller Rental with Full Setup, which involves a comprehensive cooling package, including the chiller unit, necessary auxiliary components like heat exchangers, cooling towers, pumps, and required electrical infrastructure. 

These solutions are often used in emergency cooling situations, planned maintenance periods, or seasonal cooling demands where companies need an immediate and reliable solution. Another significant offering is Modular and Scalable Rental Chiller Solutions, designed for customers who require flexibility in scaling their cooling capacity.

Rental Chiller by Service Type Insights

Based on Service Type, the Asia Pacific Rental Chiller market has been segmented into Equipment Rental Only, Equipment Rental with Installation and Full-Service Rental (Equipment, Installation & Maintenance). The Equipment Rental Only segment dominated the market with a value of USD 448.94 million in 2024 and is expected to reach USD 833.32 million by 2035. However, Full-Service Rental (Equipment, Installation & Maintenance) segment is expected to witness the highest growth with a CAGR of 7.04% over the forecast duration.  

The Equipment Rental Only segment involves the rental of chiller units without any additional services such as installation, maintenance, or technical support. In this model, customers only lease the chiller equipment for a specific period, typically based on their short-term cooling requirements. This segment primarily caters to businesses and industries that already have the expertise and resources to handle installation, operation, and maintenance in-house.

Rental Chiller Regional Insights

Based on Country, the Asia Pacific Rental Chiller Market is Segmented into China, Japan, South Korea, Singapore, Taiwan, Hong Kong, India, Thailand, Malaysia, Vietnam, Indonesia, Philippines, Rest of Asia Pacific. The China dominated the Asia Pacific market in 2024, while the India is projected to be the fastest–growing segment during the forecast period. China dominated the Asia Pacific Rental Chiller Market in 2024, supported by its strong industrial base, rapid urbanization, and large-scale infrastructure development. 

The country’s robust manufacturing sector, expansion of commercial spaces such as offices, malls, and data centers, along with rising demand from construction and healthcare industries, has significantly boosted the adoption of rental chillers. Additionally, the growing emphasis on cost-effective and flexible cooling solutions, coupled with frequent use in temporary projects and events, has further strengthened China’s leading position in the regional market.

Asia Pacific Rental Chiller Key Market Players & Competitive Insights

Many Asia Pacific, regional, and local vendors characterize the Rental Chiller Market. The market is highly competitive, with all the players competing to gain market share. Intense competition, rapid advances in technology, frequent changes in government policies, and environmental regulations are key factors that confront market growth. The vendors compete based on cost, product quality, reliability, and government regulations. Vendors must provide cost-efficient, high-quality products to survive and succeed in an intensely competitive market.

The major competitors in the market are Carrier Rental Systems, Inc, Atlas Copco, Trane Rental Services, Aggreko, ACR Chiller Rental, Tk Rentals SDN BHD, Daikin Industries, Ltd, Johnson Controls International Plc, Active Air Rentals, GEARONRENT among others. The Asia Pacific Rental Chiller Market is a consolidated market due to increasing competition, acquisitions, mergers and other strategic market developments and decisions to improve operational effectiveness.

Key Companies in the Asia Pacific Rental Chiller Market include

• Carrier Rental Systems, Inc
• Atlas Copco
• Trane Rental Services
• Aggreko
• ACR Chiller Rental
• Tk Rentals SDN BHD
• Daikin Industries, Ltd
• Johnson Controls International Plc
• Active Air Rentals
• GEARONRENT

Asia Pacific Rental Chiller Market Industry Developments

January 2025: Johnson Controls launched the YORK YK-CP Centrifugal Chiller, designed for high-efficiency performance and sustainability. It uses ultra-low GWP refrigerant R-1234ze(E) and offers up to 30% more energy efficiency than conventional chillers.

October 2024: Daikin Applied introduced the Magnitude WME-D, a next-generation water-cooled centrifugal chiller featuring a two-stage, oil-free compressor and low-GWP R-515B refrigerant. This chiller offers up to 40% more energy savings than traditional fixed-speed compressors, aligning with Daikin's commitment to sustainable solutions.

October 2022: Atlas Copco introduced its first process cooling chiller range, the TCX range, designed for various industrial segments. This launch expands Atlas Copco's offerings in the industrial cooling market, enhancing efficiency and reliability for customers

December 2021: Aggreko launched a 400kW heat-pump chiller, one of the highest capacity units available, designed for larger projects like manufacturing and major events. This unit offers best-in-class environmental performance and reduces carbon emissions without compromising on cost or space.

Asia Pacific Rental Chiller Market Segmentation

Rental Chiller by Chiller Type Outlook

• Air-Cooled Rental Chillers
• Water-Cooled Rental Chillers

Rental Chiller by Capacity Range Outlook

• Below 50 kW
• 51 kW – 200 kW
• 201 kW – 500 kW
• 501-1000kW
• 1001-1500kW
• >1501kW

Rental Chiller by End-Use Industry Outlook

• Manufacturing & Industrial
  • Automotive
  • Food Beverage Processing
  • Pharmaceuticals
  • Electronics Semiconductor
  • Others
• Commercial & Institutional
  • Data Centers
  • Healthcare
  • Hospitality
  • Corporate Offices Buildings
  • Others
• Energy & Utilities
  • Power Plants
  • Oil Gas
  • Others
• Events & Temporary Cooling
  • Exhibitions Conferences
  • Sports Entertainment Events
  • Others
• Construction & Infrastructure
• Others

Rental Chiller by Rental Duration Outlook

• Short-Term Rental (Up to 6 Months)
• Long-Term Rental (Above 6 Months)

Rental Chiller by Application Outlook

• Process Cooling
• Comfort Cooling
• Emergency Cooling
• Seasonal Cooling
• Others

Rental Chiller by Rental Solutions & Services Outlook

• Equipment Rental Solutions
  • Chiller Rental with Full Setup
  • Modular and Scalable Rental Chiller Solutions
  • Customizable Rental Packages
  • Others
• Installation & Commissioning Services
  • On-Site Installation Setup
  • Integration with Existing HVAC Cooling Systems
  • Temporary Piping Electrical Infrastructure Setup
  • Others
• Operational & Maintenance Services
• Energy Efficiency & Optimization Services
• Dismantling & Relocation Services
• Others

Rental Chiller by Service Type Outlook

• Equipment Rental Only
• Equipment Rental with Installation
• Full-Service Rental (Equipment, Installation & Maintenance)      

Rental Chiller Regional Outlook

• Asia Pacific
  • China
  • Japan
  • South Korea
  • Singapore
  • Taiwan
  • Hong Kong
  • India
  • Thailand
  • Malaysia
  • Vietnam
  • Indonesia
  • Philippines
  • Rest of Asia Pacific

Report Attribute/Metric	Details
Market Size 2024	USD 1.15 Billion
Market Size 2025	USD 1.22 Billion
Market Size 2035	USD 2.27 Billion
Compound Annual Growth Rate (CAGR)	6.34% (2025-2035)
Base Year	2024
Forecast Period	2025-2035
Historical Data	2019-2023
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	By Chiller Type, Capacity Range, End-Use Industry, Rental Duration, Application, Rental Solutions & Services, Service Type
Geographies Covered	Asia Pacific
Countries Covered	The China, Japan, South Korea, Singapore, Taiwan, Hong Kong, India, Thailand, Malaysia, Vietnam, Indonesia, Philippines, Rest of Asia Pacific
Key Companies Profiled	Carrier Rental Systems, Inc, Atlas Copco, Trane Rental Services, Aggreko, ACR Chiller Rental, Tk Rentals SDN BHD, Daikin Industries, Ltd, Johnson Controls International Plc, Active Air Rentals, GEARONRENT
Key Market Opportunities	·         Increasing Demand for HVAC Systems in Commercial Buildings ·         Events and exhibitions requiring short-term cooling solutions
Key Market Dynamics	·         Rising demand for temporary cooling in industrial manufacturing processes ·         Expanding Data Centers Increasing Need for Efficient Cooling Solutions