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Global modular chillers market is set to witness a substantial CAGR of 6.15% in the forecast period of 2019- 2026

Global modular chillers market is set to witness a substantial CAGR of 6.15% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Increasing industrial application and replacement of current installed chillers are the factor for the market growth

Global Modular Chillers Market By Type (Water-Cooled Modular Chillers, Air-Cooled Modular Chillers), Application (Commercial, Residential, Industrial, Others), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026.

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Market Analysis: Global Modular Chillers Market

Global modular chillers market is set to witness a substantial CAGR of 6.15% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Increasing industrial application and replacement of current installed chillers are the factor for the market growth

Market Definition: Global Modular Chillers Market

Modular chiller is used in industrial procedures and construction to cool the brine and water and dehumidify the atmosphere. They can work on their own or in conjunction with other chiller modules to boost the ability of cooling as required. Using the evaporator, modular chillers have the ability to cool and also have an inner or remote condenser installed with suitable checks. They are of types water cooled modular chillers and air- cooled modular chiller. They are widely used in commercial, industrial and residential.

Market Drivers:

  • Increasing commercial construction project is driving the market growth
  • Rising awareness of modular chiller will also enhance the market
  • Growing demand for low GWP refrigerants will also contribute as a factor for the market
  • Increasing demand for high quality modular chiller will also accelerate the market growth

Market Restraints:

  • High initial investment and setup cost contributes as a market restraint
  • Low compression ratio and small single cooling capacity will also hamper the market growth
  • High consumption of electricity is another factor restricting this market growth

Segmentation: Global Modular Chillers Market

By Type

  • Water-Cooled Modular Chillers
  • Air-Cooled Modular Chillers

By Application

  • Commercial
    • Corporate Offices
    • Data Centers
    • Public Buildings
  • Residential
    • Multifamily Building and Hospitality
  • Industrial
    • Cold Storages
  • Others

Key Developments in the Market:

  • In May 2019, Frigel announced the launch of their ModularChiller line of central chillers which consist of modular and highly energy efficient 3FX water-cooled chillers ranging from 25 to 139 tons each. Each full modular system provides an unrivalled amount of flexibility that allows industrial consumers to readily extend and satisfy their changing system cooling needs cost-effectively, or satisfy the need for system redundancy
  • In June 2015, Mitsubishi Electric announced the launch of their e-series inverter-driven range which will help them to enter UK market. They use two DC inverter-driven scroll compressors in each 90kW module to offer a capability variety of 8% to 100% from the VRF (Variable Refrigerant Flow) industry. They have the ability to provide market-leading efficiency rates with the capacity of units to function alone or in tandem with others

Competitive Analysis:

Global modular chillers market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of modular chillers market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

New Business Strategies, Challenges & Policies are mentioned in Table of Content, Request Detailed TOC:https://www.databridgemarketresearch.com/toc?dbmr=global-modular-chillers-market

Key Market Competitors:

Few of the major competitors currently working in the global modular chillers market are GREE ELECTRIC APPLIANCES, INC., Carrier Corporation, FRIGEL FIRENZE S.p.A., Midea, Multistack, LLC., 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, among others.

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