Press Release: April 14, 2020
Modular Chillers is a packaged chiller that combined with other modules to make one large chiller. Each module contains compressor, regulators and refrigerant; if one module fails, the remaining modules maintain operational continuously. These modules are connected in parallel from 6 units to 12 units to increase the cooling capacity of the chiller system. It is a solution for retrofits, cooling and tight spaces and to maintain indoor temperature. Modular chillers provide flexibility, expandability, serviceability, redundancy, better capacity controls and energy-efficient.
Advantages and benefits of modular chiller over its substitute and increasing commercial construction projects are the major factors that increase the demand for modular chiller. Additionally, stringent government regulations on energy efficiency and emissions are also propelling market growth during the forecast period. Moreover, operator can stud down any unit of modular chiller when requirement of cooling is low and can switch on the unit of modular chiller when cooling demand is high, these functions define the modularity of chiller which helps to modular chiller operator to reduce downtime which also increases the popularity of modular chiller among various application for commercial, residential and industrial. However, high installation costs and high consumption of electricity are restraining market growth.
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Asia-pacific is expected to dominate the global modular chiller market during the forecast period owing to the presence of countries like China and India, which are the major key market of the modular chiller in Asia-Pacific. Additional due to the presence of a large number of industries, expanding urban cities and rapid adoption of HVAC in a commercial project in Asia-pacific emerging countries which are creating a favorable opportunity for the modular chiller market.
Various notable players in the Modular Chillers market include Multistack, LLC, Frigel Firenze S.p.A., Midea Group, Johnson Controls International plc, Carrier Corporation, Gree Electric Appliances, Inc., Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A., ClimaCool Corp., Ingersoll-Rand, Inc., Arctic Chiller Group, Ltd. and among others. Major players are focussing on product launch, acquisition, collaboration to expand their global reach and become a market competitive.
The Global Modular Chillers market has been segmented based on type, application and Geography. Based on the type market is categorized into water-cooled modular chillers and air-cooled modular chillers. Based on the application market is classified as Commercial, Residential, Industrial and based on geography.
The research report “Global Modular Chillers Market” provides an in-depth analysis of the global modular chillers market based on type, application and major geographies for the forecast period from 2019 to 2026. The report also highlights the major market drivers propelling the growth as well as challenges faced by market participants. The research report provides market size and forecast for the global modular chillers market. In addition, the report also analyses the competitive landscape, major players and their strategies in 2018. The competitive landscape section of the report captures and highlights the recent developments in the market.
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Key questions answered in this research report:
1- At what pace is the global modular chillers market growing? What will be a growth trend in the future?
2- What are the key drivers and restraints in the current market? What will be the impact of drivers and restraints in the future?
3- What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the global modular chillers market?
4- What are the various application areas and how they are poised to grow?
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