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Modular Chiller Market

Modular Chiller Market Expanding On Back of Rising Demand for HVAC Solutions across Commercial End Uses, States Fact.MR

Published : 22 Feb 2022 Industry: Industrial Goods

As per detailed industry analysis by Fact.MR, a market research and competitive intelligence provider, the global modular chiller market is estimated to exceed a valuation of US$ 4 Bn in 2022, and expand at a significant CAGR of 5% by value over the assessment period (2022-2032).

Expansion of privately-owned construction firms in China, India, and the UAE is expected to supplement spending in the construction industry over the assessment period. As per the Global Construction 2030 report, the construction industry is projected to reach US$ 15.5 trillion by 2030. This leads the U.S., China, and India to hold more than 57% share in the overall growth.

Rising demand for HVAC and energy-efficient solutions, increasing disposable income, and lightweight modular chillers are driving market expansion. Rising urbanization and industrialization in emerging countries such as China and India is also helping boosting demand growth of modular chillers.

Key Takeaways from Market Study

  • By product type, compressed chillers is expected to remain most attractive segment in the global modular chiller market and surpass a valuation of US$ 4 Bn by 2032.
  • By capacity, above 150 ton modular chillers are projected to account for the highest valuation of US$ 3 Bn, increasing at a promising CAGR of 4.5% over the forecast period.
  • On the basis of cooling technology, water cooled modular chillers are likely to grow 1.6X in value and create revenue worth US$ 3 Bn by 2032.  
  • The Middle East & Africa region is expected to generate a valuation of US$ 91 Mn by 2032.
  • The North America market is set to witness a CAGR of 3.9% over the same period.
  • Utilization of modular chillers in the industrial sector is projected to surge 1.6X by 2032.

“Increasing installation of cooling systems for commercial purposes to surge demand for modular chillers in the near future,” says a Fact.MR analyst.

Winning Strategy

Leading manufacturers of modular chillers are collaborating with several end-use industries to establish a strong customer base. In addition to this, rising heat problems in South Asia & Oceania, Latin America, and East Asia are anticipated to create ample opportunities for strategic capital expansions and collaborations over the coming years.

More Valuable Insights Available

Fact.MR, in its new offering, presents an unbiased analysis of the global modular chiller market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of basis of product type (compressor chillers, absorption chillers), capacity (up to 30 tons, 30 - 50 tons, 50 -70 tons, 70 - 100 tons, 100 - 150 tons, above 150 tons), cooling technology (air cooled, water cooled, evaporative condensed), coolant type (R134A, R744, R717, HCFC [R2, R123, R124, R151], HCS [R600A, R290], R407C, R404A, R410A, R448A, R449A, others), and end-use sector (commercial, industrial), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and MEA).

Fact.MR’s Domain Knowledge in Industrial Division

Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs

With a repertoire of over thousand reports and 1 million-plus data points, the team has analysed the industrial domain across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help

For more information, refer to our market research report or contact the PR author.

Shubham Patidar

Fact.MR

Consultant – Industrial

E-mail: shubham@factmr.com

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Modular Chiller Market

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Modular Chiller Market Analysis by Product Type (Compressor Chillers, Absorption Chillers), by Cooling Technology (Air-cooled, Water-cooled, Evaporative Condensed Modular Chillers), by Coolant Type, by Capacity, by End-use Sector, by Region - Global Forecast 2022-2032