The global modular chillers market is anticipated to grow at a considerable CAGR of 6.5% during the forecast period. The speeding up of the use of energy-efficient systems is one of the prime factors driving the market. The demand associated with energy-efficient systems had been increased due to the consumption of electricity in an efficient manner and supporting reducing the electricity bills. Additionally, energy-efficient systems support decreasing greenhouse gas emissions along with reducing demand for energy imports which is, in turn, is driving the growth of the market.
Moreover, the emerging focus on increasing government initiatives for promoting energy efficiency is also one of the key factors that are creating opportunities in the market. New launches in the market are likely to drive the growth of the global modular chillers market. For instance, in September 2020, Carrier Global Corp. had officially brought out its performance testing lab for a 6000RT capacity water-cooled chiller. This testing lab would be located in its new manufacturing in Shanghai. The newly launched testing lab is considered to be one of the largest in China which is AHRI and GMPI certified offering 50Hz/60Hz power along with support to high voltage applications for fulfilling the requirements.
The key players present in the global modular chillers market had been adopting various strategies that include new launches to gain major market share. For instance, in March 2021, one of the companies named Mitsubishi Electric Corp. had introduced its R32 version of its e-series chillers, which will be provided in 2 units that includes 150kW along with 180kW units. This new modular chiller would be offered in cooling and heat pump variations with a five-year warranty given by the company.
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Market Coverage
- The market number available for – 2023-2030
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Type
- By Application
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Carrier Global Corp., DAIKIN INDUSTRIES, Ltd., JOHNSON CONTROLS – HITACHI AIR CONDITIONING, Midea and Mitsubishi Electric Corp.
Modular Chillers Market Segmentation
By Type
- Water-Cooled
- Air-Cooled
By Application
- Residential
- Commercial
- Industrial
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
Company Profiles
- American Chillers
- Aggreko plc
- Berg Chilling Systems Inc.
- Carrier Global Corp.
- ClimaCool Corp.
- DAIKIN INDUSTRIES, Ltd.
- FRIGEL FIRENZE S.p.A.
- General Air Products, Inc.
- Gree
- Haier A/C
- JOHNSON CONTROLS – HITACHI AIR CONDITIONING
- LG Electronics
- Midea
- Mitsubishi Electric Corp.
- Multistack, LLC.
- NANJING TICA CLIMATE SOLUTIONS CO.,LTD.
- Trane Technologies Co., LLC
- Whaley Products, Inc.
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