Modular Chillers Market Share Analysis Report, 2027

 


Modular Chillers Market

According to GMI Research, the modular chillers market is predicted to grow at a CAGR of 4% during the forecast period (2020-2027) and is expected to reach USD 4,777 million by 2027.

The factors driving the growth of Modular Chillers Market includes, increasing demand for energy efficient buildings, strict Government regulations about carbon emissions and growing use of modular chillers in residential, commercial, and Industrial areas. Moreover, Modular Chillers provides benefits such as enhanced cooling capacity, extra redundancy to the system, energy efficiency, adaptability to heat pumps and reduces the negative impact on environment. The increasing growth of construction industry along with rising Government support for the installation of HVAC systems and growing disposable incomes around the world, are some of the factors augmenting the growth of Modular Chillers Market. According to ICRA, the mining and construction equipment industry is expected to grow by 15-20% in FY-2021, which will increase the Modular Chiller Market size in India.

However, the growth of Modilar Chillers Market is hindered due to high cost linked with the installation of modular chillers.

The major key players operating in the market includes Mitsubishi Electric Hydronics & IT Cooling Systems S.p.A., ClimaCool Corporation, Multistack LLC., Frigel Firenze S.p.A., Carrier, Gree Electric Appliances Inc., Ingersoll-Rand Inc., Ingersoll-Rand Inc., Midea, Johnson and Armec among others.

Type: Segment Analysis

Based on the type, water-cooled modular chiller segment held the highest market share in 2019 majorly due to its superior performance as compared to traditional air-cooled systems and its capability to transfer heat more efficiently. The increasing use of water-cooled modular chillers by commercial end-users because it provides longer lifespan and increased storing capacity, are some of the factors fueling the growth of this segment.

Application: Segment Analysis

Based on Application the Commercial segment, dominated the market in 2019 and is anticipated to grow at the fastest rate over the forecast period due to increasing installation of modular chillers in commercial buildings, malls, offices, hotels restaurants, Government buildings and schools.

Regional: Segment Analysis

Based on Region, Asia-pacific is projected to lead the global modular chillers market over the forecast period. The increasing construction activities, growing demand for Air-Conditioners, coupled by rapid urbanization and extensive installation of HVAC systems, are additional factors propelling the Modular Chillers Market Share in Asia-Pacific.

Market Segmentation

Global Modular Chillers Market by Type

  • Water-Cooled
  • Air-Cooled

Global Modular Chillers Market by Application

  • Commercial
  • Residential
  • Industrial

Global Modular Chillers Market by Region

  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of APAC
  • North America
    • United States of America
    • Canada
  • Europe
    • United Kingdom
    • Germany
    • France
    • Spain
    • Rest of Europe
  • RoW
    • Brazil
    • South Africa
    • Saudi Arabia
    • UAE

About GMI Research

GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.

Media Contact
Company Name: GMI RESEARCH
Contact Person: Sarah Nash
Email: enquiry@gmiresearch.com
Phone: Europe – +353 1 442 8820; US – +1 860 881 2270
Address: Dublin, Ireland
Website: www.gmiresearch.com

Location: New York, NY, USA

Comments

Post a Comment

Popular posts from this blog

Restaurant Point Of Sale Terminal Market Share Report & Forecast 2029

Image
  The Restaurant Point-of-Sale Terminal Market is estimated to witness a growth of CAGR 8.5% during the forecast period, 2022-2029. The factors driving growth of the Restaurant Point-of-Sale Terminal Market includes increasing deployment of point-of-sale systems at restaurants, breweries, and nightclubs, rise in the volume of contactless payment transactions, growing popularity of online food delivery applications such as Swiggy, Zomato and Uber Eats and improvements in the living standards. Moreover, technological advancements in point-of-sale systems, Point of Sale Terminals offer online orders, e-wallets, table reservations and loyalty programs, rising focus by restaurants on streamlining operations, increase in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the market growth. In addition, the increasing investments by major corporations on research and development, strategic collaborations between enterprises and growing
Read more

Managed Print Services Market Size, Share, & Growth Analysis - 2020-2027

Image
  Managed Print Services Market The Managed Print Services Market is estimated to reach USD 70 billion by 2027, growing at a CAGR of 8.2% over the forecast period (2020-2027). The factors driving the growth of Managed Print Services Market includes digital transformation across the industry verticals such as Banking, Financial Services, and Insurance (BFSI), Healthcare and Telecommunication, emerging need to reduce paper wastage and growing trend of Bring Your-Own Device (BYOD). According to the report published by Environmental Paper Network, the consumption of paper worldwide has drastically increased by 400% over the last four decades, on an average a citizen in the United States uses more than 700 pounds of paper every year, which will boost the Managed Print Services Market Growth in the approaching years. Moreover, the growing adoption of Cloud Computing and Big Data Analytics by the major organizations, increasing investments by the leading players on research and development
Read more

Crypto Asset Management Market size, share & Trends Forecast 2028

Image
  The Crypto Asset Management Market was estimated around USD 315 million in 2020 and is predicted to grow at a CAGR of 21.1%, over the forecast period (2021-2028). The factors driving growth of the market includes rise in the number of institutional investors and wealth managers investing first time in crypto currency, surge in the volumes of online transactions around the world, emerging need to secure cryptocurrency assets, Government initiatives promoting digitalization and improvements in the living standards. Cryptocurrency asset management platforms allow investors to manage different wallets in one spot, simplifies the management of the developing crypto asset for seasoned traders, and helps users to increase their portfolio, are some of the features pushing the Crypto Asset Management Market size . Moreover, increasing adoption of cryptocurrency across industry verticals such as Healthcare, Retail and Commerce, BSFI, advancements in Internet of Things (IoT) and Artificial Inte
Read more