The global modular chiller market (モジュラーチラー市場) was estimated at US$ 3.7 billion in 2022, with a forecasted growth to reach US$ 6.2 billion by 2032, expanding at a CAGR of around 5.2% from 2022 to 2032. The market growth is driven by the increasing penetration of automation in industrial operations, propelled by the low cost of cooling technologies.

Advancements in modular chillers are expected to enhance productivity and efficiency in various industries, further boosting demand. Additionally, end-users are focusing on developing energy-efficient buildings to reduce heating and cooling energy requirements, driving the sales of modular chillers.

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The demand for modern infrastructure is increasing in countries like China, Indonesia, and India due to rapid urbanization and improved living standards. This trend is expected to drive the adoption of easy-to-install and lightweight modular chillers.

Technological advancements in cooling technology are creating new growth opportunities, especially in sectors like food and beverages for the storage and prevention of food contamination. Key players are investing significantly in research and development (R&D) to improve the price-to-performance ratio of modular chillers, which is anticipated to drive market growth in the coming years.

Key Takeaways:

The compressor segment is expected to grow 1.6 times, surpassing US$ 2.8 billion by the end of 2022 based on product type.

The industrial modular chiller segment is estimated to reach US$ 4.7 billion, exhibiting a growth rate of 5.4% CAGR over the forecast period in terms of end-use.

The U.S. is expected to account for 88% of the market share in North America due to the rising demand for energy-efficient end-use products in the country.

China is anticipated to surpass US$ 1.4 billion, with sales projected to increase 1.7 times through 2022 and beyond.

By capacity, the above 150-ton modular chillers segment is predicted to account for 47.5% of the overall market share by the end of 2032.

Market Dynamics

The driving forces behind the modular chiller market are multifaceted. Firstly, the escalating need for temperature control across industries such as manufacturing, healthcare, data centers, and commercial spaces has propelled the demand for reliable cooling solutions. Modular chillers offer scalability and adaptability, enabling businesses to meet varying cooling requirements with precision and efficiency.

Moreover, advancements in technology have bolstered the performance and energy efficiency of modular chillers, making them an attractive option for businesses keen on reducing operational costs and environmental impact. The modular design allows for easy installation, maintenance, and expansion, providing businesses with greater flexibility and cost-effectiveness compared to traditional cooling systems.

Market Future Outlook

The future of the modular chiller market (모듈형 냉각기 시장) appears promising, driven by several factors. With rapid urbanization and industrialization worldwide, the demand for cooling solutions is expected to soar, particularly in regions experiencing extreme climates. Additionally, growing awareness regarding environmental sustainability is prompting businesses to invest in energy-efficient cooling technologies, further propelling the adoption of modular chillers.

Furthermore, technological innovations such as predictive maintenance, IoT integration, and smart controls are poised to enhance the performance and reliability of modular chillers, driving their uptake across various industries. As businesses prioritize resilience and adaptability in the face of changing environmental and regulatory landscapes, modular chillers offer a future-proof solution that can seamlessly evolve with evolving needs and requirements.

Key Players

  • Johnson Controls
  • LG Electronics
  • Carrier Corporation
  • Trane Technologies plc
  • Gree Electric Appliances, Inc.

Competitive Landscape:

Key manufacturers operating in the global modular chiller market are advancing their manufacturing facilities to strengthen their foothold in the industry. In addition to this, they are also updating their product portfolio by integrating technologies such as AI and IoT to gain competitive edge.

For instance,

In 2019, Frigel Firenze S.p.A. developed a new modular chiller named “3FX chiller.” They are available in 12 different models, from which 7 are integrated with screw compressors while the rest are scroll compressors.

In 2019, Trane Technologies plc acquired Arctic Chiller Group to upgrade its product portfolio comprising of high-efficiency water-cooled and air-cooled modular chillers. This acquisition also helped advance magnetic bearing chillers for further application in process cooling and commercial HAVCs.

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Key Segments Covered in Modular Chiller (Markt für modulare Kältemaschinen) Industry Research

  • By Product Type :

    • Compressor Chillers

    • Absorption Chillers

  • By Capacity :

    • Up to 30 Ton

    • 30 - 50 Ton

    • 50 -70 Ton

    • 70 - 100 Ton

    • 100 - 150 Ton

    • Above 150 Ton

  • By Cooling Technology:

    • Air-cooled

    • Water-cooled

    • Evaporative Condensed Modular Chillers

  • By Coolant Type :

    • R134A

    • R744

    • R717

    • HCFC (R2, R123, R124, R151) Modular Chillers

    • HCS (R600A, R290) Modular Chillers

    • R407C

    • R404A

    • R410A

    • R448A

    • R449A

    • Others

  • By End-use Sector :

    • Commercial Modular Chillers

    • Industrial Modular Chillers

  • By Region :

    • North America

    • Latin America

    • Europe

    • East Asia

    • South Asia & Oceania

    • MEA

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