Global Modular Chillers Market is valued approximately at USD 2.5 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2019-2026. Modular chiller is used to cool the brine and water and to dehumidify the air in industrial processes and buildings. Modular chillers are capable of this cooling by using the evaporator and also have an installed internal or remote condenser with appropriate controls. The modular chillers have gained popularity due to its wide range of applications from space cooling to process purposes. Growing number of commercial construction projects and advantages of chillers over traditional chillers are key driving factors of the market growth. Further, growing industrial application is expected to create significant growth opportunity in the market over the forecast period. However, high setup cost of modular chillers is expected to hamper the market growth over the forecast period of 2019-2026.
The regional analysis of global Modular Chillers market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia pacific is the leading region across the world. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as presence of huge HVAC and construction industries would create lucrative growth prospects for the Modular Chillers market across Asia-Pacific region.
Major market player included in this report are:
Johnson Controls- Hitachi Air Conditioning
Gree Electric Appliances
Mitsubishi Electric Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2016, 2017
Base year - 2018
Forecast period - 2019 to 2026
Target Audience of the Global Modular Chillers Market in Market Study: