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Global Modular Chiller Market: By Product Type: Air Cooled Modular Chiller, Water Cooled Modular Chiller; By Capacity: Below 300 Tons, More than 300 tons; By Application; Regional Analysis; Historical Market and Forecast (2016-2026); Market Dynamics: SWOT Analysis; Competitive Landscape; Industry Events and Developments

Global Modular Chiller Market Outlook

The global modular chiller market attained a value of nearly USD 2.4 billion in 2020. The market is further expected to grow in the forecast period of 2021-2026 at a CAGR of 5.9% to reach about USD 3.4 billion 2026.

 

Rising Demand for Water-Cooled Modular Chillers to Boost the Market Growth

Due to the high performance of water-cooled modular chillers over air-cooled systems, the water-cooled type segment of the global market for modular chiller accounted for a   significant proportion of the market share. Large commercial buildings, including corporate offices, schools, retail malls, and hospitals, among others, benefit from water-cooled modular chillers, thereby invigorating the industry growth of modular chillers. Furthermore, the air-cooled category of modular chillers is expected to generate robust market growth in the coming years due to its lower operating costs and compact design.

 

Global Modular Chiller Market

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Asia Pacific Region to Hold a Significant Share in the Market Growth of Modular Chillers

In APAC, China, Japan, South Korea, and India are the most important markets for modular chillers. Owing to rapid industrialisation and urbanisation in the region and favourable government policies and investments, the construction projects in the region are rising, further augmenting the demand for modular chillers in various sectors. In addition, due to the existence of big heating, ventilation, and air conditioning (HVAC) and construction industries, China accounted for a substantial share of the APAC market in the historical period. Furthermore, the overall demand for air conditioners in APAC countries can be attributed to rising disposable incomes and improved purchasing power of the people.   Thus, the market for modular chillers is witnessing steady demand from the Asia Pacific region, thereby adding to the overall market growth.

 

Modular Chiller: Industry Definition and Segmentation

Modular chiller systems are a modern alternative to classic chiller systems, providing building owners, system designers, and installers with creative solutions. Modular chillers in HVAC systems have lately developed as a more cost-effective, mass-produced alternative to totally tailored chillers.

Based on product type, the market can be divided into:

  • Air Cooled Modular Chiller
  • Water Cooled Modular Chiller

By capacity, the industry can be segmented into:

  • Below 300 Tons
  • More than 300 tons

On the basis of its application, the market can be classified into:

  • Residential
  • Commercial
  • Industrial

The EMR report looks into regional markets of modular chiller like North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Rising Commercial Applications of  Modular Chillers to Augment Market Growth

The commercial application segment holds a significant market share in the overall market growth of modular chillers and is expected to grow at the fastest rate throughout the forecast period. Its strong application in HVAC systems owing to growing demand from the commercial sector, including air conditioning in business offices, government buildings, schools, hospitals, shopping malls, and hotels, among others, is propelling industry growth. Demand for commercial development projects is likely to increase with the rising levels of population, which, in turn, is anticipated to augment the demand for modular chillers.

The energy efficiency and reduced environmental effect of modular chillers are also significant advantages of the product, which are contributing to its demand and the consequent market growth. The ability of modular chillers to be converted into heat pumps, allowing them to supply both cooling and heating capacity for use in various commercial or industrial applications, is further aiding the market growth. Furthermore, owing to rising concerns regarding environmental degradation, modular chillers easily meet the criteria for sustainable living with characteristics like non-ozone-depleting refrigerants. These features lessen the negative environmental effect of modular chillers and ensure the safety of the users, hence invigorating the industry growth.

 

Key Industry Players in the Global Modular Chiller Market

The report presents a detailed analysis of the following key players in the global modular chiller market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

  • Johnson Controls International Plc.
  • Daikin Industries, Ltd
  • LG Electronics
  • Multistack, LLC
  • Frigel Firenze S.p.A.
  • Others

The comprehensive report looks into the macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.

 

REPORT FEATURES DETAILS
Base Year 2020
Historical Period 2016-2020
Forecast Period 2021-2026
Scope of the Report Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Product Type, Capacity, Application, Region
Breakup by Product Type Air Cooled Modular Chiller, Water Cooled Modular Chiller
Breakup by Capacity Below 300 Tons, More than 300 tons
Breakup by Application Residential, Commercial, Industrial
Breakup by Region North America, Europe, Asia Pacific, Latin America, Middle East and Africa
Market Dynamics SWOT, Porter's Five Forces, EMR’s Key Indicators for Price and Demand
Competitive Landscape Market Structure, Company Profiles- Company Overview, Product Portfolio, Demographic Reach and Achievements, Certifications
Companies Covered Johnson Controls International Plc., Daikin Industries, Ltd, LG Electronics, Multistack, LLC, Frigel Firenze S.p.A., Others
Report Price and Purchase Option Explore our purchase options that are best suited to your resources and industry needs.
Delivery Format Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option.

 

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

1    Preface    
2    Report Coverage – Key Segmentation and Scope
3    Report Description

    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary

    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Modular Chiller Market Analysis

    8.1    Key Industry Highlights
    8.2    Global Modular Chiller Historical Market (2016-2020) 
    8.3    Global Modular Chiller Market Forecast (2021-2026)
    8.4    Global Modular Chiller Market by Product Type
        8.4.1    Air Cooled Modular Chiller
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Water Cooled Modular Chiller
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
    8.5    Global Modular Chiller Market by Capacity
        8.5.1    Below 300 Tons
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    More than 300 tons
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
    8.6    Global Modular Chiller Market by Application
        8.6.1    Residential
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    Commercial
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Industrial
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
    8.7    Global Modular Chiller Market by Region
        8.7.1    Market Share
            8.7.1.1    North America
            8.7.1.2    Europe
            8.7.1.3    Asia Pacific
            8.7.1.4    Latin America
            8.7.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country 
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price  
11    Value Chain Analysis 
12    Competitive Landscape

    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Johnson Controls International Plc.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Daikin Industries, Ltd
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    LG Electronics
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Multistack, LLC 
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Frigel Firenze S.p.A.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    Others
13    Industry Events and Developments

 

List of Figures and Tables

1.    Global Modular Chiller Market: Key Industry Highlights, 2016 and 2026
2.    Global Modular Chiller Historical Market: Breakup by Product Type (USD Million), 2016-2020
3.    Global Modular Chiller Market Forecast: Breakup by Product Type (USD Million), 2021-2026
4.    Global Modular Chiller Historical Market: Breakup by Capacity (USD Million), 2016-2020
5.    Global Modular Chiller Market Forecast: Breakup by Capacity (USD Million), 2021-2026
6.    Global Modular Chiller Historical Market: Breakup by Application (USD Million), 2016-2020
7.    Global Modular Chiller Market Forecast: Breakup by Application (USD Million), 2021-2026
8.    Global Modular Chiller Historical Market: Breakup by Region (USD Million), 2016-2020
9.    Global Modular Chiller Market Forecast: Breakup by Region (USD Million), 2021-2026
10.    North America Modular Chiller Historical Market: Breakup by Country (USD Million), 2016-2020
11.    North America Modular Chiller Market Forecast: Breakup by Country (USD Million), 2021-2026
12.    Europe Modular Chiller Historical Market: Breakup by Country (USD Million), 2016-2020
13.    Europe Modular Chiller Market Forecast: Breakup by Country (USD Million), 2021-2026
14.    Asia Pacific Modular Chiller Historical Market: Breakup by Country (USD Million), 2016-2020
15.    Asia Pacific Modular Chiller Market Forecast: Breakup by Country (USD Million), 2021-2026
16.    Latin America Modular Chiller Historical Market: Breakup by Country (USD Million), 2016-2020
17.    Latin America Modular Chiller Market Forecast: Breakup by Country (USD Million), 2021-2026
18.    Middle East and Africa Modular Chiller Historical Market: Breakup by Country (USD Million), 2016-2020
19.    Middle East and Africa Modular Chiller Market Forecast: Breakup by Country (USD Million), 2021-2026  
20.    Global Modular Chiller Market Structure

Key Questions Answered in the Report

The global modular chiller market attained a value of nearly USD 2.4 billion in 2020.

The market is projected to grow at a CAGR of 5.9% between 2021 and 2026.

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 3.4 billion by 2026.

The industry is being driven by the increasing deployment of water-cooled modular chillers in various end-use sectors, and the rising demand from major developing countries owing to its cost-effectiveness.

The global market for modular chillers is augmented by its rising application in the commercial sector owing to energy efficient and environment friendly characteristics.

The major regional markets for modular chillers are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

The different product types of modular chillers are air cooled modular chiller and water cooled modular chiller.

The various capacity segments of the product are below 300 tons and more than 300 tons.

The different applications of modular chillers include residential, commercial, and industrial.

The major players in the industry are Johnson Controls International Plc, Daikin Industries, Ltd, LG Electronics, Multistack, LLC, and Frigel Firenze S.p.A., among others.

Analyst Review

The global modular chiller market attained a value of about USD 2.4 billion in 2020, driven by the rising demand for water cooled modular chillers. Aided by the growing applications in the commercial sector, the market is expected to grow at a CAGR of 5.9% during 2021-2026 to reach nearly USD 3.4 billion by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on product type, the  modular chiller industry can be segmented into air cooled modular chiller and water cooled modular chiller. By capacity, the industry is categorised into below 300 tons and more than 300 tons. On the basis of application, the market can be segmented into residential, commercial, and industrial.  The major regional markets for modular chiller are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Johnson Controls International Plc, Daikin Industries, Ltd, LG Electronics, Multistack, LLC, and Frigel Firenze S.p.A., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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