Press release
Modular Chiller Market Size, Share, Forecast, 2020–2027 | by Product Type, Capacity, Application
Modular Chiller Market
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According to a new report published by Allied Market Research, titled, “Modular Chiller Market by Product Type, Capacity, and End User: Opportunity Analysis and Industry Forecast, 2020–2027,” the global modular chiller market size was $2.7 billion in 2019, and is projected to reach $3.7 billion by 2027, registering a CAGR of 6.2% from 2020 to 2027.
Modular chillers are of two types such as air-cooled and water-cooled. These chillers are mainly used in commercial and industrial areas. A rise in construction activities and government spending on infrastructural construction activities globally is anticipated to boost the growth of the modular chiller market. For instance, Australian government planned to spend $ 110 billion by 2030 on transport infrastructure across Australia country.
In addition, rise in government spending on installing HVAC systems is expected to boost the growth of the market. For instance, in October 2020, Germany government funded around $603.4 million for upgrading HVAC systems in public buildings. In addition, the modular chiller is dependent on various standards of building codes. ISO for instance is an environmental standard, which must be considered while installing modular chiller in the buildings.
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Key Segments
By Product Type
Air Cooled Modular Chiller
Water Cooled Modular Chiller
By Capacity
Below 300 Tons
More than 300 Tons
By Application
Residential
Commercial
Industrial
By Region
North America
Europe
Asia-Pacific
LAMEA
Key Players
The key players profiled in the global modular chiller market report included Johnson Controls International Inc, Raytheon Technologies (Carrier Corporation), Ingersoll-Rand Plc (Trane Technologies Plc), Daikin Industries Ltd (McQuay Air-Conditioning Ltd), Mitsubishi Electric Corporation, LG Electronics, Midea Group Co. Ltd, Gree Electric Appliances Inc of Zhuhai, Frigel Firenze S.p.A., and Multistack LLC.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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