Modular Chillers Market To Surpass $6.5 Bn By 2032, Says Global Market Insights Inc.

(MENAFN- GlobeNewsWire - Nasdaq) Major modular chillers market participants include Johnson Controls, Carrier Corporation, Trane Technologies, Mitsubishi Electric, Daikin Industries, Ingersoll Rand, LG Electronics, Bosch Thermotechnology, Airedale International Air Conditioning Ltd., Multistack, Midea Group, Gree Electric Appliances, Dunham-Bush, Shuangliang Eco-Energy Systems Co., Smardt Chiller Group.

Selbyville, Delaware, Jan. 22, 2025 (GLOBE NEWSWIRE) -- The modular chillers market is predicted to exceed USD 6.5 billion by 2032, as reported in a research study by Global Market Insights Inc. This growth is primarily fueled by the increasing demand for energy-efficient solutions as businesses and industries seek ways to lower energy consumption and operational costs. Modular chillers provide a flexible and scalable cooling solution that adapts to varying cooling needs, optimizing performance and reducing energy waste.

The modular chillers market is also benefitting from the rise in urbanization and infrastructure development, especially in emerging markets. With the ongoing construction of residential complexes, commercial buildings, and industrial facilities, modular chillers are gaining popularity for their adaptability and ease of installation in phases, which aligns with the dynamic requirements of modern construction projects.

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The modular chillers market from the air-cooled modular chillers segment is anticipated to reach USD 3.9 billion by 2032. These systems are valued for their simple installation process, low maintenance needs, and cost-effectiveness. They are particularly suitable for facilities in regions with limited water resources or moderate climates. The modular nature of these chillers allows for easy scalability, making them an ideal choice for commercial and residential properties that require flexibility and efficient use of space. However, air-cooled systems may be less energy-efficient than their water-cooled counterparts, especially for larger industrial applications, which limits their use in sectors with high cooling demands.

The modular chillers market from the industrial sector is projected to witness more than 9.9% CAGR from 2024 to 2032. In the commercial sector, modular chillers are widely used in office buildings, retail centers, and hotels, owing to their energy efficiency and ability to meet varying cooling needs. As urbanization continues and commercial infrastructure expands, the demand for adaptable and affordable cooling systems grows, driven by environmental regulations and sustainability goals.

U.S. modular chillers market held 77.8% share in 2023, driven by the increasing adoption of energy-efficient cooling systems across both commercial and industrial sectors. The demand is also fueled by urbanization and stricter environmental regulations. Additionally, technological advancements, such as the integration of IoT-based controls and smart infrastructure, are enhancing the appeal of modular chillers by supporting energy savings and improving operational efficiency.

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Partial chapters of report table of contents (TOC):

Chapter 1 Methodology & Scope

1.1 Market scope & definitions

1.2 Base estimates & calculations

1.3 Forecast calculations

1.4 Data sources

1.4.1 Primary

1.4.2 Secondary

1.4.2.1 Paid sources

1.4.2.2 Public sources

Chapter 2 Executive Summary

2.1 Industry synopsis, 2021-2032

Chapter 3 Modular Chillers Market Insights

3.1 Industry ecosystem analysis

3.1.1 Factor affecting the value chain

3.1.2 Profit margin analysis

3.1.3 Disruptions

3.1.4 Future outlook

3.1.5 Manufacturers

3.1.6 Distributors

3.2 Supplier landscape

3.3 Profit margin analysis

3.4 Key news & initiatives

3.5 Regulatory landscape

3.6 Impact forces

3.6.1 Growth drivers

3.6.1.1 Increasing demand for energy efficiency

3.6.1.2 Rising urbanization and infrastructure development

3.6.1.3 Growing focus on environmental sustainability

3.6.1.4 Advancements in IoT and automation technologies

3.6.1.5 Rising industrialization in emerging markets

3.6.2 Industry pitfalls & challenges

3.6.2.1 High initial capital investment

3.6.2.2 Complexity in system integration

3.7 Growth potential analysis

3.8 Porter's analysis

3.9 PESTEL analysis

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About Global Market Insights Inc.

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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