Modular Chillers Market |Future Trends, Industry Size & Share, Market Growth and Major Players
The Global Modular Chillers Market is Projected to Grow USD 6.13 billion at a CAGR of 6.2% During the Forecast Period | No of Pages 120
Global "Modular Chillers Market" study 2023, the industry landscape is covered from driving factors to upstream markets and the overall state of the market. An in-depth analysis of the overall growth prospects for the global and regional market was provided which was based on an in-depth analysis of key industry players, primary and secondary data.
Modular Chiller Market size stood at USD 3.82 billion in 2018 and is anticipated to reach USD 6.13 billion by 2026, exhibiting a CARG of 6.2% during the forecast period.
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List Of Top Key Player Of Modular Chillers Market:
- Mitsubishi Electric Corporation (Tokyo, Japan)
- Trane (Dublin, Ireland)
- Carrier Corporation (Florida, U.S.)
- LG Electronics (Seoul, Korea)
- Daikin Industries, Ltd. (Osaka, Japan)
- Nanjing tica climate solutions co., ltd (Nanjing, China)
- Midea Group (Guangdong, China)
- Gree Electric Appliances, Inc. of Zhuhai (Guangdong, China)
- Haier Group (Shandong, China)
- Frigel Firenze S.p.A. (Tuscany, Italy)
Global Modular Chillers Market Growth report serves as an ideal solution for a better understanding of the Market. It is helpful in finding out the size of the Market for specific products. These major players operating in this Market are in strong competition in terms of technology, innovation, product development, and product pricing. The Market study aids in making sales forecasts for its products and thereby, establishing harmonious adjustment between demand and supply of its products.
Modular Chillers Market Segmentations:
By Type Analysis
- Based on type, the market is divided into the water-cooled modular chiller and air-cooled modular chiller. The water-cooled modular chiller segment is expected to grow exponentially over the anticipated period, owing to their high energy efficiency and superior performance as compared to the air-cooled modular chiller.
By Application Analysis
- Based on the application, the market is divided into industrial, commercial, and residential. The commercial application segment is expected to grow with substantial CAGR during the forecast period.
Market Drivers:
In modular chillers, no idle time in HVAC applications is required as it offers modularity, i.e., the capacity can be increased by adding a parallel module. Ultimately, it will provide cooling capacity with no substantial downtime.
Geographically, the report includes research on production, consumption, revenue, market share, and growth rate in following regions:
- North America
- Europe
- Asia-Pacific
- South America
- The Middle East and Africa
Recent Developments
- Trane (a business brand of Ingersoll Rand), acquired Arctic Chiller Group to expand the product portfolio of high-efficiency water-cooled and air-cooled modular chillers and magnetic bearing chillers for process cooling applications and commercial HVAC applications.
- Carrier Corporation introduced the latest version of AquaSnap 30 MP, a water-cooled and condenserless modular chiller. 30 MP features an enhanced HVAC system to resolve difficult chilled-water systems.
Research Methodology:
We follow a robust research methodology that involves data triangulation based on top-down, bottom-up approaches, and validation of the estimated market numbers through primary research. The information used to estimate the market size and forecast for various segments at the global, regional, and country-level is derived from the most credible published sources and through interviews with the right stakeholders.
The Growth rate or CAGR exhibited by a market for a certain forecast period is calculated on the basis of various factors and their level of impact on the market. These factors include market drivers, restraints, industry challenges, market and technological developments, market trends, etc.
Key Benefits of This Market Research:
- Industry drivers, restraints, and opportunities covered in the study
- Neutral perspective on the market performance
- Recent industry trends and developments
- Competitive landscape & strategies of key players
- Potential & niche segments and regions exhibiting promising growth covered
- Historical, current, and projected market size, in terms of value
- In-depth analysis of the Modular Chillers Market
- Overview of the Regional Outlook of the Modular Chillers Market
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