Modular Chillers Market Analysis | Recent Market Developments | Industry Forecast to 2019-2024

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Modular Chillers Market worth 3.5 billion by 2024
The report "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" The modular chillers market is projected to
grow from USD 2.6 billion in 2019 to USD 3.5
billion by 2024, at a CAGR of 6.0 
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Introduction
Modular chillers have a compact design, which is
ideal for buildings where space is limited. It
has control systems, which can be operated from
remote places. Also, the biggest advantage of
modular chillers is modularity, which means,
operators can shut down any unit when cooling
requirements are low and switch on any number of
units when the requirement is high. Therefore,
the modular chiller operators, can reduce the
downtime to zero hours, as it is highly unlikely
that all modules malfunction. In addition,
modular chillers offers superior expandability,
when operators plan infrastructure expansion. The
modular chiller system capacity can be increased
by adding parallel modules with the currently
installed chiller system. These overall
advantages of modular chillers have increased
their demand.
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Recent Developments

• In May 2019, Frigel Firenze launched new modular
  chillers 3FX chillers. These chillers are
  available in 12 models. Seven models come with
  screw compressors and the remaining five come
  with scroll compressors. These chillers cater to
  industrial applications.
• In March 2018, Mitsubishi Electric Hydronics IT
  Cooling Systems acquired chillers distributor
  Topclima of Climaveneta in Spain. This
  acquisition of Topclima helps the company to use
  the assets efficiently for business development.
• In January 2018, Ingersoll Rand acquired ICS
  Group Holdings Ltd (UK), a leading HVAC solution
  provider in Europe. This acquisition enables the
  company to cater to a broad range of customers
  and strengthen its growth in the European market.

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Key Questions Addressed by the Report

• What are the upcoming hot bets for the modular
  chillers market?
• What are the market dynamics for different types
  of modular chillers?
• What are the major applications of modular
  chillers?
• Who are the major manufacturers of modular
  chillers?
• What are the factors driving the modular chillers
  market in each region?

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Most active players in the modular chillers
market
Carrier Corporation (US), McQuay Air-Conditioning
(Hong Kong), Johnson Controls- Hitachi Air
Conditioning (Japan), Midea Group (China),
Ingersoll Rand (Ireland), Gree Electric
Appliances (China), Frigel Firenze (Italy),
Mitsubishi Electric Corporation (Japan),
Multistack (US), and Haier Group (China) are a
few active players in the modular chillers
market.
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On The Basis Of Region
APAC is projected to be the fastest-growing
modular chillers market Owing to the presence of
highly-populated countries, such as China and
India. China, India, Japan, Indonesia, and South
Korea are some of the key countries in the
modular chillers market in this region. In
2018, China accounted for the largest share of
the APAC market, owing to the presence of huge
HVAC industries. The growing sales of HVAC
systems and their increasing demand from
commercial and residential infrastructure in the
region boosts the demand for modular chillers.
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