Worldwide modular chiller sales in 2022 are estimated at USD 3.7 billion. According to a detailed industry analysis, the global modular chiller market is expected to grow at a CAGR of approximately 5.2% from 2022 to 2032, reaching $6.2 billion by 2032.
As infrastructure development increases, the world is moving toward energy-efficient buildings designed to reduce the energy required for heating and cooling. These energy-efficient buildings help reduce carbon emissions, which parallels the demand for modular cooling systems.
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The main meaning of market research
- By product type, compression chillers remain the most attractive segment of the global modular chiller market, projected to exceed $4 billion by 2032.
- By capacity, modular chillers over 150 tonnes are projected to grow at a promising CAGR of 4.5% over the forecast period, accounting for the highest value of $3 billion.
- Water-cooled modular chillers based on cooling technology are expected to increase in value by 1.6 times and generate $3 billion in sales by 2032.
- The Middle East and Africa region is expected to create a value of US$ 91 million by 2032.
- The North American market is expected to grow at a CAGR of 3.9% over the same period.
- The use of modular chillers in the industrial sector is expected to soar 1.6 times by 2032.
“The installation of commercial refrigeration systems is increasing, with a view to surging demand for modular chillers in the near future,” says a Fact.MR analyst .
winning strategy
The leading manufacturer of modular chillers is working with multiple end-use industries to build a strong customer base. In addition to this, increasing heat issues in South America and Oceania, Latin America and East Asia are expected to create ample opportunities for strategic capital expansion and cooperation in the coming years.
market trend
- Growing Demand for Energy Efficient Solutions: The global demand for energy efficient solutions has been increasing in recent years and the modular chiller market is no exception. Many manufacturers are focusing on producing chillers with higher efficiency classes and advanced technologies, such as inverter driven compressors and water cooling systems. This has led to increased adoption of modular chillers.
- Growing Demand for Smart Chiller Systems: The demand for smart chiller systems is increasing because they improve efficiency, reduce energy costs and increase productivity. Smart chillers are equipped with sensors and controllers that can monitor and adjust the system according to environmental conditions. This helps reduce energy costs and improve system performance.
- Growing adoption of green chillers: Green chillers are gaining popularity because they are more energy efficient and emit less. These chillers use natural refrigerants such as carbon dioxide, ammonia and hydrocarbons that are more environmentally friendly than conventional refrigerants. This has led to increased adoption of green chillers.
- Increased Use of Variable Refrigerant Flow (VRF) Systems : VRF systems are becoming increasingly popular in the modular chiller market because they provide superior temperature control, flexibility and energy savings. The system is equipped with multiple evaporators and compressors, allowing the cooling and heating levels to be adjusted according to environmental needs. This helps reduce energy costs and improve system performance.
major pioneers
- johnson control
- LG Electronics
- carrier corporation
- Train Technologies plc
- Gree Electric Appliances, Inc.
market development
Some of the recent market developments include:
- Frigel Firenze SpA launched a new modular chiller in 2019 called the 3FX chiller. These chillers are available in 12 models, 7 of which come with screw compressors and the rest are scroll compressors.
- Trane Technologies plc acquired Arctic Chiller Group in 2019 to strengthen its product portfolio of high-efficiency water-cooled and air-cooled modular chillers and enhance its magnetic bearing chillers for process cooling and commercial HAVC applications .
Key Segments Covered in the Modular Chiller Industry Study
- Modular Chiller Market, By Product Type:
- compressor cooler
- screw cooler
- centrifugal cooler
- scroll cooler
- reciprocating cooler
- absorption chiller
- compressor cooler
- Modular Chiller Market by Capacity:
- Up to 30 ton modular chillers
- 30 – 50 ton modular chillers
- 50-70 ton modular chiller
- 70 – 100 ton modular chillers
- 100 – 150 ton modular chillers
- Modular chillers over 150 tons
- Modular Chiller Market by Cooling Technology:
- Air Cooled Modular Chiller
- Water Cooled Modular Chiller
- Evaporative Condensation Modular Chiller
- Modular Chiller Market by Coolant Type:
- R134A Modular Chiller
- R744 Modular Chiller
- R717 Modular Chiller
- HCFC (R2, R123, R124, R151) Modular Chiller
- HCS (R600A, R290) Modular Chiller
- R407C Modular Chiller
- R404A Modular Chiller
- R410A Modular Chiller
- R448A Modular Chiller
- R449A Modular Chiller
- etc.
- Modular Chiller Market by End-Use Segment :
- Commercial Modular Chiller
- corporate office
- data center
- hospitality sector
- Industrial Modular Chiller
- Chemistry and Petrochemical
- health care
- plastics and polymers
- food and drink
- oil and gas
- energy and power
- automobile
- individual manufacturing
- Commercial Modular Chiller
- Modular Chiller Market by Region :
- North American modular chiller market
- Latin American modular chiller market
- European modular chiller market
- East Asian modular chiller market
- South Asia and Oceania Modular Chiller Market
- MEA Modular Chiller Market
Key Questions Answered in Modular Cooling Units Market Report Study:
- Sales and Demand of Modular Chiller
- Growth of the modular chiller market
- Modular Chiller Market Analysis
- Market insights on modular chillers
- Key drivers influencing the modular chiller market
- What are the key drivers impacting the modular chiller market?
- limiting market growth
- Modular Chiller Market Research
More Valuable Insights into the Modular Chiller Market
Fact.MR analyzes forecast statistics through 2019 and beyond in a new report to provide an unbiased market analysis of modular chillers, sales and demand for modular chillers. This study presents growth prospects according to different criteria.
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