08 October 2019

Modular Chillers - Global Market Outlook (2018-2027)

The Global Modular Chillers market accounted for $2.40 billion in 2018 and is expected to reach $4.84 billion by 2027 growing at a CAGR of 8.1% during the forecast period. Growing commercial construction projects and stringent government regulations on energy efficiency and emissions are the key factors influence the market growth. Moreover, rising industrial applications will provide ample opportunities for the market growth. However, high setup cost is limiting market growth.

Modular chillers are ideal for space cooling and process cooling in commercial, residential, and industrial applications. Modular chillers are dependable, cost-effective chillers available in water-cooled and air-cooled types ranging in size from 20 to 60 nominal tons each. Modular chillers are compact in size, energy-efficient, and flexible in function. These chillers come in compact modules and can be connected in parallel from 6 units to 12 units to increase the overall cooling capacity of chiller systems.

By Application, water-cooled modular chillers segment is constantly enhancing due to its superior performance. These chillers are ideal for cooling at large commercial places. Asia Pacific is going to have a lucrative growth during the forecast period owing to presence of HVAC industries and growing population.

Some of the key players profiled in the Modular Chillers Market are Ingersoll Rand, Gree Electric Appliances, Carrier Corporation, Frigel Firenze, Midea Group, Multistack, Mcquay Air-Conditioning, Johnson Controls-Hitachi Air Conditioning, Qingdao Haier, Mitsubishi Electric Hydronics & It Cooling Systems, Aermec, Climacool, Kingair Machinery, LG Electronics, Suzhou Sujing Bush Refrigeration Equipment, Tica Climate Solutions and Withair Industries.

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