The global demand for Modular Chiller Market is presumed to reach the market size of nearly USD XX MN by 2027 from USD XX MN in 2020 with a CAGR of XX% under the study period 2021 - 2027.
A modular chiller is a small packaged chiller that can be combined with other chiller modules to build a giant machine to replace an older HVAC system. There are two types of modular chillers: air-cooled and water-cooled. Commercial and industrial chillers are the most common applications for modular chillers. Modular chillers are ideal for controlling and maintaining room temperature in residential, commercial, and industrial settings. Modular chillers are suitable for both heating and cooling. They're also durable, redundant, have more effective capacity management, lightweight, and energy-efficient. Furthermore, the modular chiller is subject to various building code requirements. ISO, for instance, is an environmental standard, which must be considered while installing modular chillers in the buildings.
The modular chiller market is expected to grow due to increased construction activities and government spending on infrastructural construction activities worldwide. Furthermore, increasing government spending on HVAC system installation will likely propel the industry forward. The modular chillers market is being driven by the worldwide commercial construction industry's growth and the competitive benefits of modular chillers. Furthermore, as people's disposable income rises in emerging economies, the modular chiller industry is expected to expand. Moreover, as demand for modular chillers rises in end-user sectors such as food & beverage, medical, mining, and others, the market is expected to expand. However, the cost of installation, setup, and maintenance is relatively high, which is scheduled to hamper the growth of the modular chiller market.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of modular chiller. The growth and trends of modular chiller industry provide a holistic approach to this study.
This section of the modular chiller market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product Type
- Air Cooled Modular Chiller
- Water Cooled Modular Chiller
- Below 300 Tons
- More Than 300 Tons
This section covers the regional outlook, which accentuates current and future demand for the Modular Chiller market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Modular Chiller Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the modular chiller market include Johnson Controls International Inc, Raytheon Technologies (Carrier Corporation), Ingersoll-Rand Plc (Trane Technologies Plc), Daikin Industries Ltd (McQuay Air-Conditioning Ltd), Mitsubishi Electric Corporation, LG Electronics, Midea Group Co. Ltd, Gree Electric Appliances Inc of Zhuhai, Frigel Firenze S.p.A., and Multistack LLC. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
This market research report has been produced by gathering information based on primary and secondary research. Secondary research has been done using various sources, including (but not limited to) Company Websites, Paid Data Sources, Technical Journals, Financial Reports, SEC Filings, and other different industry publications. Additionally, our team conducts extensive primary research with key industry participants to gather first-hand data. The data is then analyzed and validated by industry experts.
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