A rise in construction activities and government spending on infrastructural construction activities globally is anticipated to boost the market growth.

PORTLAND, OR, UNITED STATES, January 5, 2022 /EINPresswire.com/ -- The modular chiller market has witnessed significant growth over the past decade, owing to rise in greenhouse effect globally and increase in global warming effect, which in turn boost the demand for heating, ventilation, and air conditioning systems; thereby, driving the growth of the modular chiller market. In addition, growth in commercial sector and growing demand for HVAC system in various end users such as food & beverages, mining, and others are driving the development of the modular chiller market.

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.

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The report analyzes the modular chiller market based on product type, capacity, application, and region. The product type covered in this report is the air-cooled modular chiller and water-cooled modular chiller. The capacity taken into consideration in the report are the below 300 tons and more than 300 tons. On the basis of application, the market is categorized into residential, commercial, and industrial.

An increase demand for compact, energy efficient, and small heating, ventilation, and air conditioning systems to control room atmosphere is anticipated to stimulate the growth of the modular chiller industry. In addition, increase in construction spending in emerging countries such as India, China, Brazil, and others is anticipated to fuel the growth of the modular chiller market. For instance, India government planned to spend $1.4 trillion on infrastructure development from year 2020 to 2025. In addition, modular chillers are best suitable for food & beverages, automotive, die casting, plastics, and others.

An increase in demand for modular chillers globally owing to growing construction activities is expected to lead to the growth of the modular chiller market. A rise in tourism sector globally has led to increase in demand for commercial buildings such as hotels and public buildings. This in turn is estimated to fuel the growth of the modular chiller market. For instance, tourism industry in Japan is expected to grow by over 10% from 2020 to 2030.

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Key Market Players

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.
Multistack LLC.

Key Benefits

The report provides an extensive analysis of the current and emerging modular chiller market trends and dynamics.

An in-depth analysis of the market is conducted by estimations for the key segments between 2019 and 2027.

Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.

A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.

The global modular chiller market forecast analysis from 2020 to 2027 is included in the report.

The key players operating in the market of modular chiller are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the modular chiller industry.

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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 domain.

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Allied Analytics LLP
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