Modular Chillers Market Size, Share and Forecast (2019-2026)

SKU: DEU91 | Last Updated On: Oct 15 2019 | No. of Pages: 192 | Available Formats

On 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.

Market Overview

The modular chiller plant is a self-contained chilled water production system. An efficient and affordable alternative to the traditional stick-built chiller plant, the modular chiller plant works equally well in a building mechanical room without an enclosure, and in an open environment with an enclosure to protect the components from the elements. While modular chiller plant is pre-engineered and fabricated with all system components. Packaged in a skid, the module is pre-piped, wired, tested and shipped to the job site where the water and power connections are made.

 

Modular chiller market is divided into type, and application. By type the market is divided into water-cooled modular chillers, and air-cooled modular chillers. Whereas application includes commercial, residential, industrial and others.

 

The increasing tourism in emerging nations is pushing for more construction of hotels and public infrastructure, which make extensive use of district cooling. Another current market driver for HVAC chillers is the growing number of data centers. Therefore, growing commercial construction projects and stringent government regulations on energy efficiency and emissions are the key factors influence the market growth. Moreover, rising industrial applications will provide ample opportunities for the market growth.

Market Dynamics

The use of energy in buildings represents a large share of the total end use of energy. In the United Nations Economic Commission for Europe (UNECE) region, buildings are responsible for approximately one third of total energy consumption and account for almost 40 percent of CO2 emissions from combustion.

 

In U.S commercial buildings consume more energy than the transportation or industry sectors, accounting for nearly 40 percent of total U.S. energy use. Hence designers, developers, and owners search for ways to minimize the operating costs and environmental impacts of buildings.

 

Hence governments across the globe are focusing on energy efficiency and environmentally friendly techniques. In developed nations such as U.S and countries of Europe strict energy efficiency standards are implemented in buildings especially for commercial buildings.

 

The increasing tourism in emerging nations is pushing for more construction of hotels and public infrastructure, which make extensive use of district cooling. Another current market driver for HVAC chillers is the growing number of data centers.

 

Therefore, growing commercial construction projects and stringent government regulations on energy efficiency and emissions are the key factors influence the market growth. Moreover, rising industrial applications will provide ample opportunities for the market growth.

 

Market Segmentation

By type segment, the Modular Chillers  market is segmented into water-cooled modular chillers, and air-cooled modular chillers. The global air-cooled modular chillers market was worth USD XX million in 2018 and is estimated to reach USDXX million by 2026, at a CAGR of XX% during the forecast period.

Air and water are the two main chillers. Air cooled chillers are cooled by utilizing air, whereas water condensers are cooled by using water sources. The compressors may be reciprocating, centrifugal, rotary screw, and rotary scroll type.

 

Through progress in the efficiency of air-cooled chillers over the past few years, the air-cooled market is anticipated to grow at a faster rate and supplant some of the water-cooled part of the chillers market. The market is also seeing strong growth in modular chillers, particularly for heat recovery, heat pump designs, and chillers that are multi-purposed for both heating and cooling.             

  

As a chiller is the main and the biggest energy consumption unit of the entire HVAC system, customers are diligently checking all the aspects of procurement and analyzing the total cost of ownership for 10 years. The lifetime cost of an air-cooled chiller is approximately equal to 20 times its initial cost.

 

Most common developments in air-cooled chillers are with R1234ze that has very low GWP, A2L safety classification, and compatibility with most existing compressors and heat exchangers, which makes it a preferred solution for air-cooled chillers.

 

Geographical Analysis

The Asia Pacific modular chiller market size was worth USD XX million in 2018 and is estimated to reach USD XX million by 2026, at a CAGR of XX % during the forecast period.

 

APAC has the most populous countries, namely, China and India. China, Japan, South Korea, and India are the key markets for Modular Chillers  in APAC. In 2018, China accounted for the largest share of the APAC market, owing to the presence of huge HVAC and construction industries.

 

According to the World Bank, India is expected to be one of the world’s fastest-growing economies with an estimated annual GDP expansion rate of more than 7.0% during the forecast period. In addition, the overall demand for ACs across APAC countries witnessed high growth in 2018.

 

In addition, growing middle class population, rising disposable income along with increasing urbanization and purchasing power are anticipated to boost the market growth of air conditioners, predominantly in the residential and SME segments

Whereas in South-East Asia area strengthening of public infrastructure, establishment of new industries, strong economic growth as well as changing business environment in countries such as Indonesia, Philippines and Vietnam would promote the demand for air conditioners in the region over the next six years. Thus, the overall economic scenario in APAC is favorable for the growth of the Modular Chillers market.

Competitive Landscape

The modular chillers market is moderately competitive with existing players in the market. Some of the major players include Carrier Corporation, McQuay Air-Conditioning Ltd., Johnson Controls, Midea Group, Ingersoll Rand, Gree Electric Appliances, Inc., Frigel Firenze S.p.A., Mitsubishi Electric Corporation, Multistack, LLC, and Haier Group. Companies operating in this market are focusing on product launch, and acquisition to gain the market share.

On March 2018, Mitsubishi Electric Hydronics & IT Cooling Systems acquired chillers distributor Topclima of Climaveneta in Spain. This attainment of Topclima helps the company to use the assets efficiently for business development.

On January 2018, Ingersoll Rand acquired ICS Group Holdings Ltd (UK), a 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.

 

 

Why Purchase the Report?

  • Visualize the composition of the modular chillers in terms of type, and application highlighting the key commercial assets and players.
  • Identify commercial opportunities in modular chillers market by analyzing trends and co-development deals.
  • Excel data sheet with thousands of data points of modular Chillers market - level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key product of all major market players

 

The Modular Chillers report would provide an access to an approx, 53 data tables, 30 figures and 180 pages.

 

Target Audience

  • Service Providers/ Buyers
  • Industry Investors/Investment Bankers
  • Education & Research Institutes
  • Research Professionals
  • Emerging Companies
  • Manufacturers
  1. Global Modular Chillers Market Methodology and Scope

    1. Research Methodology
    2. Research Objective and Scope of the Report
  2. Global Modular Chillers Market – Market Definition and Overview

  3. Global Modular Chillers Market – Executive Summary

    1. Market Snippet by Type
    2. Market Snippet by Application
    3. Market Snippet by Region
  4. Global Modular Chillers Market Dynamics

    1. Market Impacting Factors
      1. Drivers
      2. Stringent government regulations on energy efficiency and emissions.
      3. Restraints
        1. High setup cost is limiting market growth.
      4. Opportunity
      5. Impact Analysis
  5. Global Modular Chillers Market – Industry Analysis

    1. Porter's Five Forces Analysis
    2. Regulatory Analysis
    3. Supply Chain Analysis
  6. Global Modular Chillers Market – By Type

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      2. Market Attractiveness Index, By Type
    2. Water-cooled modular chillers*
      1. Introduction
      2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
    3. Air-cooled modular chillers
  7. Global Modular Chillers Market – By Application

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      2. Market Attractiveness Index, By Application
    2. Commercial*
      1. Introduction
      2. Market Size Analysis, USD Million, 2016-2025 and Y-o-Y Growth Analysis (%), 2018-2026
    3. Residential
    4. Industrial
    5. Others
  8. Global Modular Chillers Market - By Region

    1. Introduction
      1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
      2. Market Attractiveness Index, By Region
    2. North America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. U.S.
        2. Canada
        3. Mexico
    3. Europe
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. Germany
        2. U.K.
        3. France
        4. Italy
        5. Spain
        6. Rest of Europe
    4. South America
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. Brazil
        2. Argentina
        3. Rest of South America
    5. Asia Pacific
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
      5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
        1. China
        2. India
        3. Japan
        4. Australia
        5. Rest of Asia Pacific
    6. Middle East and Africa
      1. Introduction
      2. Key Region-Specific Dynamics
      3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
      4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
  9. Global Modular Chillers Market Competitive Landscape

    1. Competitive Scenario
    2. Market Positioning/Share Analysis
    3. Mergers and Acquisitions Analysis
  10. Global Modular Chillers Market Company Profiles

    1. Carrier Corporation*
      1. Company Overview
      2. Product Portfolio and Description
      3. Key Highlights
      4. Financial Overview
    2. McQuay Air-Conditioning Ltd.
    3. Johnson Controls
    4. Midea Group
    5. Ingersoll Rand
    6. Gree Electric Appliances, Inc.
    7. Frigel Firenze S.p.A.
    8. Mitsubishi Electric Corporation
    9. Multistack, LLC
    10. Haier Group (** List not exhaustive)
  11. Global Modular Chillers Market – DataM

    1. Appendix
    2. About Us and Services
    3. Contact Us

LIST OF TABLES:
Table 1 Global Modular Chillers Market Value, By Type, 2018,2022 & 2026 ($ Million)
Table 2 Global Modular Chillers Market Value, By Application, 2018,2022 & 2026 ($ Million)
Table 3 Global Modular Chillers Market Value, By Region, 2018,2022 & 2026 ($ Million)
Table 4 Global Modular Chillers Market Value, By Type, 2018,2022 & 2026 ($ Million)
Table 5 Global Modular Chillers Market Value, By Type, 2017-2026 ($ Million)
Table 6 Global Modular Chillers Market Value, By Application, 2018,2022 & 2026 ($ Million)
Table 7 Global Modular Chillers Market Value, By Application, 2017-2026 ($ Million)
Table 8 Global Modular Chillers Market Value, By Region, 2018,2022 & 2026 ($ Million)
Table 9 Global Modular Chillers Market Value, By Region, 2017-2026 ($ Million)
Table 10 North America Modular Chillers Market Value, By Type, 2017-2026 ($ Million)
Table 11 North America Modular Chillers Market Value, By Application, 2017-2026 ($ Million)
Table 12 North America Modular Chillers Market Value, By Country, 2017-2026 ($ Million)
Table 13 South America Modular Chillers Market Value, By Type, 2017-2026 ($ Million)
Table 14 South America Modular Chillers Market Value, By Application, 2017-2026 ($ Million)
Table 15 South America Modular Chillers Market Value, By Country, 2017-2026 ($ Million)
Table 16 Europe Modular Chillers Market Value, By Type, 2017-2026 ($ Million)
Table 17 Europe Modular Chillers Market Value, By Application, 2017-2026 ($ Million)
Table 18 Europe Modular Chillers Market Value, By Country, 2017-2026 ($ Million)
Table 19 Asia-Pacific Modular Chillers Market Value, By Type, 2017-2026 ($ Million)
Table 20 Asia-Pacific Modular Chillers Market Value, By Application, 2017-2026 ($ Million)
Table 21 Asia-Pacific Modular Chillers Market Value, By Country, 2017-2026 ($ Million)
Table 22 Middle East & Africa Modular Chillers Market Value, By Type, 2017-2026 ($ Million)
Table 23 Middle East & Africa Modular Chillers Market Value, By Application, 2017-2026 ($ Million)
Table 24 Carrier Corporation: Overview
Table 25 Carrier Corporation: Product Portfolio
Table 26 Carrier Corporation: Key Developments
Table 27 McQuay Air-Conditioning Ltd.: Overview
Table 28 McQuay Air-Conditioning Ltd.: Product Portfolio
Table 29 McQuay Air-Conditioning Ltd.: Key Developments
Table 30 Johnson Controls : Overview
Table 31 Johnson Controls : Product Portfolio
Table 32 Johnson Controls : Key Developments
Table 33 Midea Group : Overview
Table 34 Midea Group : Product Portfolio
Table 35 Midea Group : Key Developments
Table 36 Ingersoll Rand : Overview
Table 37 Ingersoll Rand : Product Portfolio
Table 38 Ingersoll Rand : Key Developments
Table 39 Gree Electric Appliances, Inc.: Overview
Table 40 Gree Electric Appliances, Inc.: Product Portfolio
Table 41 Gree Electric Appliances, Inc.: Key Developments
Table 42 Frigel Firenze S.p.A.: Overview
Table 43 Frigel Firenze S.p.A.: Product Portfolio
Table 44 Frigel Firenze S.p.A.: Key Developments
Table 45 Mitsubishi Electric Corporation: Overview
Table 46 Mitsubishi Electric Corporation: Product Portfolio
Table 47 Mitsubishi Electric Corporation: Key Developments
Table 48 Multistack, LLC: Overview
Table 49 Multistack, LLC: Product Portfolio
Table 50 Multistack, LLC: Key Developments
Table 51 Haier Group: Overview
Table 52 Haier Group: Product Portfolio
Table 53 Haier Group: Key Developments


LIST OF FIGURES:
Figure 1 Global Modular Chillers Market Y-o-Y Growth, By Region, 2018-2026 (%)
Figure 2 North America Modular Chillers Market Value, 2017-2026 ($ Million)
Figure 3 North America Modular Chillers Market Share, By Type, 2018 & 2026 (%)
Figure 4 North America Modular Chillers Market Share, By Application, 2018 & 2026 (%)
Figure 5 North America Modular Chillers Market Share, By Country, 2018 & 2026 (%)
Figure 6 South America Modular Chillers Market Value, 2017-2026 ($ Million)
Figure 7 South America Modular Chillers Market Share, By Type, 2018 & 2026 (%)
Figure 8 South America Modular Chillers Market Share, By Application, 2018 & 2026 (%)
Figure 9 South America Modular Chillers Market Share, By Country, 2018 & 2026 (%)
Figure 10 Europe Modular Chillers Market Value, 2017-2026 ($ Million)
Figure 11 Europe Modular Chillers Market Share, By Type, 2018 & 2026 (%)
Figure 12 Europe Modular Chillers Market Share, By Application, 2018 & 2026 (%)
Figure 13 Europe Modular Chillers Market Share, By Country, 2018 & 2026 (%)
Figure 14 Asia-Pacific Modular Chillers Market Value, 2017-2026 ($ Million)
Figure 15 Asia-Pacific Modular Chillers Market Share, By Type, 2018 & 2026 (%)
Figure 16 Asia-Pacific Modular Chillers Market Share, By Application, 2018 & 2026 (%)
Figure 17 Asia-Pacific Modular Chillers Market Share, By Country, 2018 & 2026 (%)
Figure 18 Middle East & Africa Modular Chillers Market Value, 2017-2026 ($ Million)
Figure 19 Middle East & Africa Modular Chillers Market Share, By Type, 2018 & 2026 (%)
Figure 20 Middle East & Africa Modular Chillers Market Share, By Application, 2018 & 2026 (%)
Figure 21 Carrier Corporation: Financials
Figure 22 McQuay Air-Conditioning Ltd.: Financials
Figure 23 Johnson Controls : Financials
Figure 24 Midea Group : Financials
Figure 25 Ingersoll Rand : Financials
Figure 26 Gree Electric Appliances, Inc.: Financials
Figure 27 Frigel Firenze S.p.A.: Financials
Figure 28 Mitsubishi Electric Corporation: Financials
Figure 29 Multistack, LLC: Financials
Figure 30 Haier Group: Financials

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