Global Modular Chillers Market, By Type (Water-Cooled Modular Chillers, Air-Cooled Modular Chillers), Application (Commercial, Residential, Industrial, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028
The modular chillers market is expected to witness market growth at a rate of 5.67% in the forecast period of 2021 to 2028. Data Bridge Market Research report on modular chillers market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product for various industrial applications is escalating the growth of modular chillers market.
Modular chiller refers to the equipment that is utilized in industrial procedures and construction for cooling the brine and water and dehumidifying the atmosphere. To boost the ability of cooling as required, modular chiller work on their own or in conjunction with other chiller modules. Modular chillers possess the ability to cool and also have an inner or remote condenser installed with suitable checks. These chillers are widely used in commercial, industrial and residential, and are available in two type including water cooled modular chillers and air- cooled modular chiller.
The increase in in the number of commercial construction projects across the globe acts as one of the major factors driving the growth of modular chillers market. The increase in demand for energy-efficient buildings owning to the rising awareness regarding environmental degradation, and governments offering tax rebates and financial support for the implementation of energy-saving technologies accelerate the market growth. The presence of stringent government regulations and growth of awareness regarding energy-efficient systems and the harmful impacts of burning fossil fuels supporting energy-efficient technological innovations further influence the market. Additionally, high adoption of the product because of advantages of modular chillers over traditional chillers, rapid industrialization, and surge in spending in the construction industry positively affect the modular chillers market. Furthermore, technological advancements and replacement of currently installed chillers extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, high setup cost of modular chillers and high electricity consumption are expected to obstruct the market growth. Disruption of supply chains resulting in shortages of construction equipment and materials is projected to challenge the modular chillers market in the forecast period of 2021-2028.
This modular chillers market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on modular chillers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Modular Chillers Market Scope and Market Size
The modular chillers market is segmented on the basis of type and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the modular chillers market is segmented into water-cooled modular chillers and air-cooled modular chillers.
- On the basis of application, the modular chillers market is segmented into commercial, residential, industrial and others.
Modular Chillers Market Country Level Analysis
The modular chillers market is analyzed and market size, volume information is provided by country, type and application as referenced above.
The countries covered in the modular chillers market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the modular chillers market due to the development of new constructions and buildings within the region. Europe is expected to be the fastest growing market during the forecast period of 2021 to 2028 because of the increase in residential construction schemes offered by the government in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Modular Chillers Market Share Analysis
The modular chillers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to modular chillers market.
The major players covered in the modular chillers market report are Danfoss, Tandem Chillers, Johnson Controls–Hitachi Air Conditioning., Haier Inc., Mitsubishi Electric Corporation., ClimaCool Corp., Aermec S.p.A, LG Electronics, NANJING TICA CLIMATE SOLUTIONS CO.,LTD., TICA Climate Solutions Malaysia Sdn Bhd, MCQUAY AIR-CONDITIONING LTD., Ingersoll-Rand (India) Ltd., Arctic Chiller Group, Ltd., Schneider Electric, GREE ELECTRIC APPLIANCES, INC., Carrier Corporation, FRIGEL FIRENZE S.p.A., Midea, and Multistack, LLC., among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.