Modular Chillers Market Overview, Size, Share Analysis, Revenue Profit and Forecast

The Modular Chillers Market research report provides comprehensive study of the industry size and share, upcoming trends, industry demand & detailed information from different sources. The modular chillers market size is estimated to be USD 2.6 billion in 2019 and projected to reach USD 3.5 billion by 2024, at a CAGR of 6.0%, between 2019 and 2024. Modular chillers is mainly used in the commercial, industrial, and residential applications for air conditioning, space cooling, and process cooling. They are energy efficient, compact, and easy to maintain as compared to their substitutes. The growing number of commercial construction projects are also expected to drive the modular chillers market. The market study focuses on analysis by Type (Air-Cooled, Water-Cooled), Application (Commercial, Industrial, Residential), and Region (North America, Europe, APAC, the Middle East & Africa, and South America).

Modular Chillers Market Key Players

  • Carrier Corporation (US)
  • McQuay Air-Conditioning Ltd., (Hong Kong)
  • Johnson Controls- Hitachi Air Conditioning (Japan)
  • Midea Group (China)
  • Ingersoll Rand (Ireland)
  • Gree Electric Appliances, Inc. (China)
  • Frigel Firenze S.p.A. (Italy)
  • Mitsubishi Electric Corporation (Japan)
  • Multistack, LLC. (US)
  • Haier Group (China).

Get Sample Copy of this Report:

Ingersoll Rand (Ireland) is among the key players in the modular chillers market. It is specialized in the manufacturing of HVAC systems through its established brand ‘Trane’. It has a strong foothold across the North American region, contributing around 70.0% of group’s revenue.

Gree Electric Appliances (China) is an international air conditioning company. It has a presence across emerging economies, and thus expected to provide growth opportunities to the company in the near future.

Carrier Corporation (US) is the leading manufacturer and supplier of HVAC solutions. The company owns more than 80 brands, such as Carrier, Chubb, Kidde, and Edwards in the HVAC market. 

Modular Chillers Market Segmentation

The report segments the global modular chillers market on the basis of type, application, and region

By Type:

  • Water-cooled modular chillers
  • Air-cooled modular chillers

The water-cooled segment accounted for the larger share in the modular chillers market

The water-cooled modular chillers use water and heat transfer fluids for cooling, making them very efficient compared to the air-cooled modular chillers, which utilize only ambient air for cooling. This has increased its demand in space and process cooling in the commercial and industrial applications.

By Application:

  • Commercial
    • Corporate Offices
    • Data Centers
    • Public Buildings
  • Residential
    • Multifamily and Hospitality
  • Industrial
    • Cold storages
  • Others

Commercial to be the fastest-growing application segment of the modular chillers market

The demand for modular chillers has been gaining momentum in the HVAC industry as it is lighter, efficient, and lowers the required refrigerant volume as compared to other heat exchangers. Modular chillers are widely used in AC systems and heat pumps for efficient heat transfer between refrigerant and air.

By Region:

  • North America
  • APAC
  • Europe
  • Middle East & Africa
  • South America

View Full Report with TOC & List of Figure:

APAC is projected to be the fastest-growing modular chillers market

APAC is projected to be the fastest-growing market for modular chillers, owing to the presence of highly-populated countries, such as China and India. China, India, Japan, Indonesia, and South Korea are some of the key countries in the modular chillers market in this region. China accounted for the largest share of the APAC market, owing to the presence of huge HVAC industries. The growing sales of HVAC systems and their increasing demand from commercial and residential infrastructure in the region boosts the demand for modular chillers. In addition, growing urbanization and population are mainly driving the demand for modular chillers in the HVAC systems.

Reasons to Buy this Report:

  • Detail analysis of the impact of market drivers, restraints, and opportunities
  • Competitive Intelligence providing the understanding about the ecosystem
  • Investment Pockets and New Business Opportunities
  • Demand-supply gap analysis
  • Strategy Planning

About MarketsandMarkets™

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the ’GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.


Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441