Modular Chillers Market by Type (Air-Cooled, Water-Cooled), Application (Commercial, Industrial, Residential), and Region (North America, Europe, APAC, the Middle East & Africa, and South America)

The modular chillers market is projected to register a CAGR of 6.0% between 2019 and 2024.

This growth is attributed to the advantages and benefits of modular chillers over its substitutes. Also, the demand for modular chillers is driven by growth in the number of construction projects. However, the high initial setup cost is hindering the growth of the modular chillers market. In addition, the high consumption of electricity is expected to be a major challenge for modular chillers market during the forecast period.

The commercial application segment accounted for the largest market share.

The commercial application for space cooling at various commercial places, such as shopping malls, government, and private offices, schools, hospitals, and airports, dominates the modular chillers market and is projected to register a high CAGR during the forecast period. This growth is because of the growing number of commercial construction projects and urbanization in emerging countries. Commercial buildings require HVAC systems for maintaining a comfortable and dry atmosphere inside. Thus, the demand for modular chillers in a commercial application is projected to grow during the forecast period.

APAC is the largest and fastest-growing modular chillers market.

In 2018, APAC was estimated to account for the largest share of the modular chillers market, owing to the rapid increase in commercial infrastructure projects, growing population, and expanding urban cities. China accounted for the largest share of the APAC market, owing to the presence of HVAC industries and rapid growth in the construction industry by transforming suburban cities into urban cities. Moreover, in the past few years, APAC countries registered an annual growth of more than 17.0% year-on-year. This scenario in the region is favorable for the growth of the modular chillers market during the forecast period.
Extensive primary interviews were conducted in the process of determining and verifying sizes of several segments and subsegments of the modular chillers market gathered through secondary research.

The breakdown of primary interviews has been given below.

By Company Type: Tier 1 - 55%, Tier 2 - 27%, and Tier 3 - 18%
By Designation: C Level Executives - 36%, Director Level - 18%, Others - 46%
By Region: APAC - 37%, Europe - 27% North America - 18%, Middle East & Africa -- 9% , South America - 9%

The key companies profiled in this report include Carrier Corporation (US), McQuay Air-Conditioning Ltd., (Hong Kong), Johnson Controls- Hitachi Air Conditioning (Japan), Midea Group (China), Ingersoll Rand (Ireland), Gree Electric Appliances, Inc. (China), Frigel Firenze S.p.A. (Italy), Mitsubishi Electric Corporation (Japan), Multistack, LLC. (US), and Haier Group (China).

Research Coverage

This report covers the modular chillers market and forecasts its market size until 2024. The market has been segmented based on type, application, and region. The report also provides detailed information on company profiles and competitive strategies adopted by the key players to strengthen their positions in the market. The report also provides insights into the driving and restraining factors in the modular chillers market, along with opportunities and challenges across these industries. It also includes profiles for top manufacturers in the market.

Reasons to Buy the Report

The report is expected to help market leaders/new entrants in the following ways:
1. This report segments the modular chillers market and provides the closest approximations of overall market size for its segments across different verticals and regions.
2. This report is expected to help stakeholders understand the pulse of the market and provide information on key drivers, restraints, challenges, and opportunities influencing the growth of the market.
3. This report is expected to help stakeholders obtain an in-depth understanding of the competitive landscape of the market and gain insights to improve the position of their businesses. The competitive landscape section includes detailed information on strategies, such as joint venture, new product launch, acquisition, and expansion.

1 Introduction

1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Market Segmentation
1.3.2 Regions Covered
1.3.3 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders

2 Research Methodology

2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.1.2.3 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Limitations
2.4.1 Methodology Limitations
2.5 Assumptions

3 Executive Summary

4 Premium Insights

4.1 Attractive Opportunities in the Modular Chillers Market
4.2 Modular Chillers Market, By Type
4.3 Modular Chillers Market, By Application
4.4 APAC Modular Chillers Market, By Application and Country
4.5 Modular Chillers Market, By Key Countries

5 Market Overview

5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growth in the Number of Commercial Construction Projects
5.2.1.2 Advantages of Modular Chillers Over Traditional Chillers
5.2.2 Restraint
5.2.2.1 High Setup Cost of Modular Chillers
5.2.3 Opportunity
5.2.3.1 Growing Industrial Applications
5.2.3.2 Replacement of Currently Installed Chillers
5.2.4 Challenge
5.2.4.1 High Electricity Consumption
5.3 Porter's Five Forces Analysis
5.3.1 Threat of New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry

6 Macroeconomic Overview

6.1 Introduction
6.1.1 Real GDP Growth Rate and Per Capita GDP of Major Economies
6.2 Trends of HVAC Industry
6.2.1 Ac Units Demand in North America
6.2.2 Ac Units Demand in Europe
6.2.3 Ac Units Demand in APAC

7 Modular Chillers Market, By Type

7.1 Introduction
7.1.1 Water-Cooled Modular Chillers
7.1.1.1 Water-Cooled Modular Chillers Have High Demand Owing to the High Efficiency
7.1.2 Air-Cooled Modular Chillers
7.1.2.1 Low Operating Cost and Environmental Footprint is Driving the Demand for Air-Cooled Modular Chillers

8 Modular Chillers Market, By Application

8.1 Introduction
8.2 Commercial
8.2.1 Corporate Offices
8.2.1.1 Transformation of Suburban Cities to Urban Cities is Majorly Driving the Number of Corporate Offices
8.2.2 Data Centers
8.2.2.1 Data Centers are One of the Largest Consumers of Modular Chillers System
8.2.3 Public Buildings
8.2.3.1 Growth in the Population is Driving the Number of Public Buildings
8.3 Residential
8.3.1 Multifamily Building and Hospitality
8.3.1.1 Growing Demand for Luxury Apartment is Expected to Drive the Modular Chillers Market in the Multifamily and Hospitality Segment
8.4 Industrial
8.4.1 Cold Storages
8.4.1.1 Use of Ac in Food Storage Facilities is Likely to Create A Huge Demand for Modular Chillers
8.5 Others

9 Modular Chillers Market, By Region

9.1 Introduction
9.2 APAC
9.2.1 China
9.2.1.1 China is the Largest Producer and Consumer of Ac Units
9.2.2 Japan
9.2.2.1 Modular Chillers Demand is Majorly Driven By the Moderate Growth in the Commercial Infrastructure Sector
9.2.3 India
9.2.3.1 Growth in Commercial Construction is Likely to Influence the Demand for Modular Chillers Positively
9.2.4 South Korea
9.2.4.1 The Modular Chillers Market is Affected Positively By the Increasing Demand for Ac Systems
9.2.5 Rest of APAC
9.3 North America
9.3.1 US
9.3.1.1 Transformation of Suburban Cities Into Urban Cities is Providing A Boost to the Modular Chillers Market
9.3.2 Canada
9.3.2.1 Canada's Modular Chillers Market is Majorly Driven By Its Booming Construction Industry
9.3.3 Mexico
9.3.3.1 Growth in Commercial Construction Driven By Urbanization is Influencing the Market Positively
9.4 Europe
9.4.1 Italy
9.4.1.1 Ongoing Infrastructural Developments in Basilicata and Puglia Regions are Increasing the Demand for Modular Chillers
9.4.2 Germany
9.4.2.1 Government's Goal to Complete Climate-Neutral Infrastructure Across the Country By 2050 is A Major Opportunity for the Market
9.4.3 France
9.4.3.1 The Impressive Growth of the HVAC Industry in Recent Years is Promising for the Market
9.4.4 UK
9.4.4.1 The Recovering Construction Industry and Steady HVAC Systems Demand are Likely to Propel the Market
9.4.5 Russia
9.4.5.1 The Growing Demand for Ac Units in the HVAC Industry is Fueling the Market Growth
9.4.6 Spain
9.4.6.1 The Market is Driven By the Positive Scenario in the Residential Construction Sector, Which Includes New Building Permits Across the Country
9.4.7 Rest of Europe
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.1.1 Upcoming Infrastructural Development Projects in Various Sectors, Including Transportation, Will Generate Potential Growth Opportunities for the Market
9.5.2 UAE
9.5.2.1 Infrastructural Development in All the Major Cities of the Country is Propelling the Demand for Modular Chillers
9.5.3 South Africa
9.5.3.1 Increasing Population and Subsequent Growth in Residential and Commercial Construction are Driving the Market
9.5.4 Rest of Middle East & Africa
9.6 South America
9.6.1 Brazil
9.6.1.1 Growing Residential and Non-Residential Construction is Driving the HVAC Industry Increasing the Demand for Modular Chillers
9.6.2 Rest of South America

10 Competitive Landscape

10.1 Overview
10.2 Competitive Leadership Mapping, 2018
10.2.1 Terminology/Nomenclature
10.2.1.1 Visionary Leaders
10.2.1.2 Innovators
10.2.1.3 Dynamic Differentiators
10.2.1.4 Emerging Companies
10.2.2 Strength of Product Portfolio
10.2.3 Business Strategy Excellence
10.3 Market Ranking of Key Players, 2018
10.4 Competitive Scenario
10.4.1 New Product Launch
10.4.2 Expansion
10.4.3 Acquisition & Joint Venture

11 Company Profiles

11.1 Ingersoll Rand
11.2 Gree Electric Appliances
11.3 Carrier Corporation
11.4 Frigel Firenze
11.5 Midea Group
11.6 Multistack
11.7 Mcquay Air-Conditioning
11.8 Johnson Controls-Hitachi Air Conditioning
11.9 Qingdao Haier
11.10 Mitsubishi Electric Hydronics & It Cooling Systems
11.11 Other Players
11.11.1 Aermec
11.11.2 Climacool
11.11.3 Kingair Machinery
11.11.4 LG Electronics
11.11.5 Suzhou Sujing Bush Refrigeration Equipment
11.11.6 Tica Climate Solutions
11.11.7 Withair Industries

12 Appendix

12.1 Discussion Guide
12.2 Knowledge Store: Subscription Portal
12.3 Available Customizations
12.4 Related Reports
12.5 Author Details

List of Tables

Table 1 Annual Percent Change of Real GDP Growth Rates (2016-2023)
Table 2 Trends and Forecast of GDP Per Capita, By Country, 2016-2020 (USD)
Table 3 Overall Ac Demand in North America, 2015-2017 (Thousand Units)
Table 4 Overall Ac Demand in Europe, 2015-2017 (Thousand Units)
Table 5 Overall Ac Demand in APAC, 2015-2017 (Thousand Units)
Table 6 Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 7 Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 8 Modular Chillers Market Size, By Region, 2017-2024 (USD Million)
Table 9 APAC: Modular Chillers Market Size, By Country, 2017-2024 (USD Million)
Table 10 APAC: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 11 APAC: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 12 China: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 13 China: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 14 Japan: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 15 Japan: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 16 India: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 17 India: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 18 South Korea: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 19 South Korea: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 20 Rest of APAC: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 21 Rest of APAC: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 22 North America: Modular Chillers Market Size, By Country, 2017-2024 (USD Million)
Table 23 North America: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 24 North America: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 25 US: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 26 US: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 27 Canada: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 28 Canada: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 29 Mexico: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 30 Mexico: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 31 Europe: Modular Chillers Market Size, By Country, 2017-2024 (USD Million)
Table 32 Europe: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 33 Europe: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 34 Italy: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 35 Italy: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 36 Germany: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 37 Germany: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 38 France: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 39 France: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 40 UK: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 41 UK: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 42 Russia: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 43 Russia: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 44 Spain: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 45 Spain: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 46 Rest of Europe: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 47 Rest of Europe: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 48 Middle East & Africa: Modular Chillers Market Size, By Country, 2017-2024 (USD Million)
Table 49 Middle East & Africa: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 50 Middle East & Africa: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 51 Saudi Arabia: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 52 Saudi Arabia: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 53 UAE: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 54 UAE: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 55 South Africa: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 56 South Africa: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 57 Rest of Middle East & Africa: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 58 Rest of Middle East & Africa: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 59 South America: Modular Chillers Market Size, By Country, 2017-2024 (USD Million)
Table 60 South America: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 61 South America: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 62 Brazil: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 63 Brazil: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 64 Rest of South America: Modular Chillers Market Size, By Type, 2017-2024 (USD Million)
Table 65 Rest of South America: Modular Chillers Market Size, By Application, 2017-2024 (USD Million)
Table 66 New Product Launch, 2015-2019
Table 67 Expansion, 2015-2019
Table 68 Acquisition & Joint Venture, 2015-2019

List of Figures

Figure 1 Modular Chillers Market: Research Design
Figure 2 Modular Chillers Market: Bottom-Up Approach
Figure 3 Modular Chillers Market: Top-Down Approach
Figure 4 Modular Chillers Market: Data Triangulation
Figure 5 Water-Cooled Type Accounted for the Larger Market Share in 2018
Figure 6 Commercial to Be the Fastest-Growing Application
Figure 7 APAC to Be the Fastest-Growing Modular Chillers Market
Figure 8 Increasing Demand for Space Cooling to Drive the Modular Chillers Market
Figure 9 Water-Cooled to Be the Larger Type Segment in the Modular Chillers Market
Figure 10 Commercial to Be the Largest Application of Modular Chillers By 2024
Figure 11 Commercial Was the Largest Application Segment and China the Largest Market in APAC in 2018
Figure 12 India to Register the Highest CAGR in the Market
Figure 13 Drivers, Restraints, Opportunities, and Challenges in the Modular Chillers Market
Figure 14 Porter's Five Forces Analysis: Modular Chillers Market
Figure 15 Water-Cooled to Be the Larger Type Segment in the Modular Chillers Market
Figure 16 Commercial to Be the Largest Application Segment
Figure 17 APAC to Register the Highest CAGR in the Modular Chillers Market
Figure 18 APAC: Modular Chillers Market Snapshot
Figure 19 North America: Modular Chillers Market Snapshot
Figure 20 Europe: Modular Chillers Market Snapshot
Figure 21 Companies Adopted Acquisition as the Key Strategy Between 2015 and 2019
Figure 22 Modular Chillers Market: Competitive Leadership Mapping, 2018
Figure 23 Market Ranking, 2018
Figure 24 Ingersoll Rand: Company Snapshot
Figure 25 Ingersoll Rand: SWOT Analysis
Figure 26 Gree Electric Appliances: SWOT Analysis
Figure 27 Carrier Corporation: Company Snapshot
Figure 28 Carrier Corporation: SWOT Analysis
Figure 29 Frigel Firenze: SWOT Analysis
Figure 30 Midea Group: Company Snapshot
Figure 31 Midea Group: SWOT Analysis
Figure 32 Qingdao Haier: Company Snapshot

Executive Summary

Companies Mentioned

Aermec
Carrier Corporation
Climacool
Frigel Firenze
Gree Electric Appliances
Ingersoll Rand
Johnson Controls-Hitachi Air Conditioning
Kingair Machinery
LG Electronics
Mcquay Air-Conditioning
Midea Group
Mitsubishi Electric Hydronics & It Cooling Systems
Multistack
Qingdao Haier
Suzhou Sujing Bush Refrigeration Equipment
Tica Climate Solutions
Withair Industries

Methodology

LOADING...

License	Format	Properties	Price
SINGLE USER LICENSE PDF	The product is a PDF.	This is a single user license, allowing one user access to the product.	€4816EUR$4,950USD£4,126GBP
1 - 5 USER LICENSE PDF	The product is a PDF.	This is a 1-5 user license, allowing up to five users have access to the product.	€6470EUR$6,650USD£5,543GBP
SITE LICENSE PDF	The product is a PDF.	This is a site license, allowing all users within a given geographical location of your organization access to the product.	€7930EUR$8,150USD£6,793GBP
ENTERPRISE LICENSE PDF	The product is a PDF.	This is an enterprise license, allowing all employees within your organization access to the product.	€9730EUR$10,000USD£8,335GBP

Modular Chillers Market by Type (Air-Cooled, Water-Cooled), Application (Commercial, Industrial, Residential), and Region (North America, Europe, APAC, the Middle East & Africa, and South America) - Global Forecast to 2024

Table of Contents

Executive Summary

Companies Mentioned

Methodology

Table of Contents

Executive Summary

Companies Mentioned

Methodology

Related Topics

Related Reports

Global Modular Chillers Market by Type (Air-Cooled Modular Chillers, Water-Cooled Modular Chillers), Application (Commercial, Industrial, Residential) - Forecast 2024-2030

Modular Chillers Market Size, Share & Trends Analysis Report By Product (Water-cooled, Air-cooled), By Application (Commercial, Residential, Industrial), By Region, And Segment Forecasts, 2023 - 2030

Modular Chillers - Global Strategic Business Report

2024 Modular Chillers Market Outlook Report: Industry Size, Market Shares Data, Insights, Growth Trends, Opportunities, Competition 2023 to 2031

Global Absorption Chiller Market (2023-2028) Competitive Analysis, Impact of Economic Slowdown & Impending Recession, Ansoff Analysis