Thursday, December 8 2022

Reports and data

High demand for HVAC solutions and growing construction of energy-efficient buildings are key factors driving the market revenue growth

NEW YORK, NEW YORK, USA, March 22, 2022 /EINPresswire.com/ — The Global modular chiller market size is expected to reach USD 3.99 billion in 2028 and register a CAGR of 6.5% over the forecast period, according to a latest report by Reports and Data. Growing demand for HVAC solutions from residential and commercial sectors is expected to drive the market revenue growth over the forecast period. Moreover, the high need to address indoor air quality is driving an increasing demand for energy efficient HVAC systems across the world. The modular chiller, being an integral part of the HVAC system, is becoming more and more popular. The demand for chillers is decreasing along with the growing demand for HVAC systems.

Modular chillers are considered the ideal solution for retrofitting old heating and air conditioning equipment and offer energy efficiency and reduced environmental impact. Conventional chillers are difficult to install in small places, take up valuable space, are expensive and complex to maintain, noisy, inconvenient and polluting. This results in a high demand for modular chillers across the world. In addition, the increase in the construction of energy-efficient buildings, due to the presence of stringent government regulations regarding energy consumption, is expected to drive the demand for HVAC systems and, in turn, drive the adoption of chillers. modules during the forecast period. Integrated modular chillers with free cooling capabilities, variable rate pumping, and low refrigerant changes are significantly more energy, refrigerant, and water efficient, and comply with existing stringent energy codes and regulations. Rising consumer disposable income is also leading to increased sales of air conditioners, especially in developing countries, which is driving the demand for modular chillers.

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Some major companies profiled in the market report are Ingersoll Rand (Trane Technologies plc), Gree Electric Appliances Inc., Carrier Global Corporation, FRIGEL FIRENZE SpA, Midea Group, Multistack, McQuay Air-conditioning Limited, Johnson Controls-Hitachi Air Conditioning, Haier Group Corporation and Mitsubishi Electric Corporation.

Some key highlights of the report:

In March 2021, Frigel introduced the MRS industrial-grade self-contained portable air-cooled coolers to its product line. With cooling capacities from 3.5 to 15.5 tons, the eight-model product line offers the widest operating temperature range available, from 23°F to 77°F. In addition, MRS chillers are specially designed for indoor and outdoor applications. These coolers also provide efficient performance in high ambient conditions as they are designed for maximum ambient temperatures. These coolers also outperform competitive models in low ambient conditions by using brushless fans with speed control to avoid shutting down in cold temperatures, allowing manufacturers in cold weather environments to move these coolers outside. outside, freeing up workshop capacity for production.
The water-cooled modular chillers segment is expected to account for the largest revenue share in the global modular chillers market over the forecast period, owing to superior performance and high energy efficiency compared to water-cooled modular chillers. air. Growing demand for water-cooled modular chillers for power generation, as well as for the food and beverage, automotive, and mining industries is also expected to drive the revenue growth of this industry. segment during the forecast period.
The power generation segment is expected to register a robust revenue CAGR during the forecast period. Growing demand for energy efficient solutions for residential applications in the power generation sector is expected to drive the demand for modular chillers over the forecast period.

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For the purposes of this report, Reports and Data has segmented the global modular chiller market based on type, end-use, application, and region:

Type Outlook (Revenue, USD Billion; 2018-2028)

Air-Cooled Modular Chillers
Water-cooled modular chillers

End-Use Outlook (Revenue, USD Billion; 2018-2028)

energy production
Mining
Automotive
food and drinks

Application Outlook (Revenue, USD Billion; 2018-2028)

Residential
Commercial
Industrial

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About reports and data:

Reports and Data is a market research and consulting firm that provides syndicated research reports, custom research reports and consulting services. Our solutions are uniquely focused on your goal of locating, targeting and analyzing changes in consumer behavior across demographics, across industries and helping customers make a smarter business decision. We offer market intelligence research ensuring relevant, fact-based research across many industries including healthcare, technology, chemicals, power and energy. We are constantly updating our search offerings to ensure that our clients are aware of the latest trends existing in the market. Reports and Data has a strong base of experienced analysts in various areas of expertise.

Tushar Rajput
Reports and data
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