Modular Chiller Market to Reach USD 6.13 billion by 2026; Increasing Number of Commercial Buildings to Propel Growth

The global modular chiller market size is projected to reach USD 6.13 billion by 2026. It is set to gain traction from their increasing application in commercial buildings owing to the easy installation and removal process.

Fortune Business Insights™ published the information mentioned above in a recent study, titled, “Modular Chiller Market Size, Share & Industry Analysis, By Type (Air-cooled modular chiller, Water-cooled modular chiller), By Application (Industrial, Commercial, Residential) and Regional Forecasts, 2019-2026.” The study further mentions that the market stood at USD 3.82 billion in 2018. However, it is set to exhibit a CARG of 6.2% during the forecast period between 2019 to 2026.

Additionally, manufacturers are striving to examine the sustainability and energy aspects of buildings as per the leadership in energy and environmental design (LEED) certification. It was first introduced by the U.S. Green Building Council for lowering carbon emissions in the environment.

To Get the detailed report summary and research scope of this market, click here:

https://www.fortunebusinessinsights.com/modular-chiller-market-102294

Trane Acquires Arctic Chiller Group to Broaden Product Offerings

In September 2019, Trane, a manufacturer of air conditioning, ventilating, and heating systems based in Dublin, completed its acquisition of Arctic Chiller Group, a global leader in the manufacturing of chiller systems. This acquisition would help Trane in delivering more product choices to the consumers for cutting off operating costs and energy. The Arctic, on the other hand, can also widen the distribution and availability of its products and serve its huge consumer base in a better way. The Arctic is headquartered in Canada. Facilities located across the world rely on its products and services, including city water filtration systems, data centers, renowned research hubs, military bases, hospitals, and U.S. government agencies.

Rising Focus on Module Design to Accelerate Growth

One of the most significant advantages of modular chillers is that they are capable of providing cooling capacity without substantial downtime. If one unit fails, then the additional parallel unit can be switched on for fulfilling cooling requirements. Hence, manufacturers are taking into consideration the aggregate size of the system, as well as the module design to offer the consumers sufficient cooling capacity.

Key Players Aim to Increase Geographic Presence Through Acquisitions

The market consists of numerous companies that are currently focusing on the strategy of mergers and acquisitions to increase their geographical presence. Companies, such as ClimaCool Corp, are introducing startup and service training programs for software loading and OEM control applications. It is also set to boost their growth in the market.

Significant Industry Development-

• March 2017: Mitsubishi Electric Australia, a prominent manufacturer of electrical and electronic products, announced the launch of its wide range of unique, inverter-driven chillers. It is specially designed to fulfill the need for energy-efficient, controllable heating, and cooling with decreased plant size. It also consists of a host of innovative benefits and features directly taken from Mitsubishi’s experience in the industry.  

Fortune Business Insights™ lists out some of the most reputed organizations present in the modular chiller market. They are as follows:

• Midea Group (Guangdong, China)


• Trane (Dublin, Ireland)


• Haier Group (Shandong, China)


• Gree Electric Appliances, Inc. of Zhuhai (Guangdong, China)


• Mitsubishi Electric Corporation (Tokyo, Japan)


• Frigel Firenze S.p.A. (Tuscany, Italy)


• LG Electronics (Seoul, Korea)


• Nanjing tica climate solutions co., ltd (Nanjing, China)


• Carrier Corporation (Florida, U.S.)


• Daikin Industries, Ltd. (Osaka, Japan)


• Other key market players

Further Report Findings-

• Asia Pacific to exhibit the highest CAGR backed by rapid industrialization.


• Based on application, the commercial segment generated a modular chillers market share of 39.0% in 2018.


• In terms of type, the water-cooled modular chiller segment is expected to showcase astonishing growth stoked by their superior performance.

The modular chiller market can be segmented in the following manner: