Modular Chillers Market to see Rapid Growth by 2028
The global modular chillers market is growing at a considerable CAGR of 6.5% during the forecast period. Increasing demand associated with lightweight modular chillers, rising technological advancements are two of the prime factors affecting and driving the market. Additionally, the increasing disposable income along with growing activities related to construction are also estimated to be the key factors that are contributing significantly towards the growth of the market. However, changes in the price of raw materials and high installation costs are the major factors constraints that are hindering the growth of the global modular chillers market across the globe.
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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.
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· Market Coverage
· Market number available for – 2022-2028
· Base year- 2021
· Forecast period- 2022-2028
· Segment Covered- By Source, By Product Type, By Applications
· Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
· Inc., and others
Market Segmentation
Global Modular Chillers Market By Type
o Water-Cooled
o Air-Cooled
Global Modular Chillers Market By Application
o Residential
o Commercial
o Industrial
Regional Analysis
o North America
o United States
o Canada
o Europe
o UK
o Germany
o Italy
o Spain
o France
o Rest of Europe
o Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
o Rest of the World
Company Profiles
o American Chillers
o Aggreko plc
o Berg Chilling Systems Inc.
o Carrier Global Corp.
o ClimaCool Corp.
o DAIKIN INDUSTRIES, Ltd.
o FRIGEL FIRENZE S.p.A.
o General Air Products, Inc.
o Gree
o Haier A/C
o JOHNSON CONTROLS - HITACHI AIR CONDITIONING
o LG Electronics
o Midea
o Mitsubishi Electric Corp.
o Multistack, LLC.
o NANJING TICA CLIMATE SOLUTIONS CO.,LTD.
o Trane Technologies Co., LLC
o Whaley Products, Inc.
The Report Covers
• Market value data analysis of 2020 and forecast to 2027.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global modular chillers market based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where in the market.
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