Modular chiller is a bundled chiller that integrates with other modules to create one big chiller. Each module includes a compressor, regulator, and coolant, if any one module fails, then the remaining other modules can work continuously. These modules are interconnected in parallel between 6-12 units to improve the cooling capacity of the chiller system. The system is used to retrofit, ventilate and cover gaps and to regulate temperature indoors. Modular chillers offer versatility, serviceability, reliability, expandability, energy efficiency, and improved power control.

The major factors driving the growth of global modular chillers market includes growing number of projects in the commercial construction industry and superior benefits of modular chillers associated with commercial applications when compared with traditional chillers. In addition, strict government standard on energy efficiency and policies on emission across the globe other important factors, which is expected to drive the growth of modular chiller market during forecast period. Moreover, increasing adoption of energy efficient solution in HVAC and refrigeration applications will propel the demand of modular chillers in the market. The chiller in HVAC system is used to cool and dehumidify air in commercial, industrial and institutional facilities. The commercial construction projects include air conditioning in commercial infrastructures, such as commercial offices, schools, hospitals, hotels, shopping malls, and others,which in turns propel the demand for modular chillers in the construction industry, which will further drive the growth of global modular chillers market. Additionally, rising industrial applications and increasing replacement of existing chillers installed in the buildings are some factors that are anticipated to create several opportunities for the growth of global modular chillers market in upcoming years. However, factors including huge consumption of electricity, is hampering the growth of global modular chillers market.

Based on region, Asia-Pacific is expected to dominate the market during forecast period. Population growth is anticipated to create demand of commercial construction projects, which in turn, propelling the demand of modular chillers in the market.
Also, presence of huge number of HVAC and construction companies in this region is expected to drive the growth of modular chillers market in Asia-Pacific.

Global modular chillers market has been segmented on the basis of type and application. Based on type, the market is segmented into water-cooled modular chillers and air-cooled modular chillers. Based on application, the market is segmented into commercial, residential, industrial and others. On the basis of commercial, the market is further segmented into corporate offices, data centers and public buildings. On the basis of residential, the market is further segmented into multifamily building and hospitality. On the basis of industrial, the market is further segmented into cold storage.

Some of the major players of global modular chillers market are Ingersoll-Rand plc, Gree Electric Appliances, Inc., Carrier Corporation, Frigel Firenze S.p.A., Midea Group, Multistack, LLC, Mcquay Air-Conditioning Ltd., Johnson Controls–Hitachi Air Conditioning, Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A. and Haier lnc. among others.

Market Segmentation:

Global Modular Chillers Market by Type

• • Water-Cooled Modular Chillers
  • Air-Cooled Modular Chillers

Global Modular Chillers Market by Application

• • Commercial
  • Corporate Offices
  • Data Centers
  • Public Buildings
  • Residential
  • Multifamily Building & Hospitality
  • Industrial
  • Cold Storages
  • Others

Global Modular Chillers Market by Region

• • North America Modular Chillers Market
  • Europe Modular Chillers Market
  • Asia-Pacific Modular Chillers Market
  • ROW Modular Chillers Market

Leading Market Players

• • Ingersoll-Rand plc
  • Gree Electric Appliances, Inc.
  • Carrier Corporation
  • Frigel Firenze S.p.A.
  • Midea Group
  • Multistack, LLC
  • Mcquay Air-Conditioning Ltd.
  • Johnson Controls–Hitachi Air Conditioning
  • Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A.
  • Haier lnc.