Modular Chiller Market to Exceed US$ 3.7 Bn Amid Rising Demand for Cost-Effective Cooling Systems in Industrial Facilities, Fact.MR Report

NEW YORK, March 18, 2022 /PRNewswire/ -- The global modular chiller market is estimated to surpass US$ 3.7 bn in 2022, growing at a CAGR of 5.2% during the forecast period (2022-2032). The global sales of modular chiller are expected to reach US$ 6.2 Bn by the end of 2032.

Increasing penetration of automation in industrial operations due to low cost of cooling technologies will aid the growth in the market. In addition to this, advancements in modular chillers are anticipated to increase the productivity and efficiency in various industries, thereby propelling the demand.

Also, end users are focusing on the development of energy-efficient buildings to reduce the energy requirement for heating and cooling in several countries. A slew of such efforts to reduce carbon emissions is likely to drive the sales of modular chiller.

With rapid urbanization and improved standard of living in China, Indonesia, and India, the demand for modern infrastructure is burgeoning. This is expected to increase the adoption of easy to install and light weight modular chillers.

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Further, technological advancements for developing advanced industrial dynamics in terms of cooling technology is projected to open new growth avenues for key players. Hence, demand for advanced modular chiller in the various sectors, especially food & beverages, for the storage and prevention of contamination of food products is estimated to drive the market.

On account of this, key players are extensively investing in the research and development (R&D) activities to develop price-to-performance ratio of modular chillers. This is anticipated to bolster the growth in the market in the coming years.

Key Takeaways:

Growth Drivers:

Restraints:

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Competitive Landscape:

According to Fact.MR, key players including Johnson Controls, LG Electronics, Carrier Corporation, Trane Technologies plc, and Gree Electric Appliances, Inc. are anticipated to account for majority of the share in the market.

Key manufacturers operating in the global modular chiller market are advancing their manufacturing facilities to strengthen their foothold in the industry. In addition to this, they are also updating their product portfolio by integrating technologies such as AI and IoT to gain competitive edge.

For instance,

Key Companies Profiled by Fact.MR

More Valuable Insights on Modular Chiller Market

Fact.MR, in its report, offers a market analysis on the global modular chiller market providing unbiased analysis for the forecast period of 2022 to 2032. This survey also reveals the growth of technology in the modular chiller market with detailed segmentation as follows:

By Product Type

By Capacity:

By Cooling Technology:

By Coolant Type:

By End-Use Sector:

By Region:

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Key Questions Covered in the Modular Chiller Market Report

Explore Fact.MR's Coverage on the Industrial Goods Domain

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