Europe Modular Chiller Market By Product Type (Water Cooled Modular Chiller and Air Cooled Modular Chiller), By Application (Commercial, Industrial and Residential), By Capacity (More than 300 Tons and Below 300 Tons), By Country, Industry Analysis and Forecast, 2020 - 2026
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The Europe Modular Chiller Market would witness market growth of 7.7% CAGR during the forecast period (2020-2026). Modular chillers are capable of regulating room temperature & maintain comfortable cooling; hence they are extremely appropriate for industrial, residential, and commercial applications. Modular chiller is considered as a major part of HVAC systems. These systems contain parts like compressors, chilling towers, and evaporators. Additionally, these systems are highly reliable, lightweight, redundancy, energy-efficient, and provide superior capacity control.
The remarkable advantages over traditional systems, speeds up commercial construction ventures, and the rising numbers of severe governmental norms about energy efficiency are some of the factors that will boost the growth of the modular chillers market. Using a modular chiller, the operator can close any modular chiller system whenever there is a need for low cooling and can again move to a modular chiller unit when there is a high demand for cooling. These functions identify the modularity of the chiller, which enables modular chiller operators to decrease downtime, hence making it appropriate for several applications in the industrial, commercial, and residential sectors. However, the growth of the modular chiller market is expected to hamper due to the massive cost with respect to the deployment of modular chillers.
Based on Product Type, the market is segmented into Water Cooled Modular Chiller and Air Cooled Modular Chiller. Based on Application, the market is segmented into Commercial, Industrial and Residential. Based on Capacity, the market is segmented into More than 300 Tons and Below 300 Tons. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The Germany market dominated the Europe Air Cooled Modular Chiller Market by Country 2019, growing at a CAGR of 8.3 % during the forecast period. The UK market is experiencing a CAGR of 8.7% during (2020 - 2026). Additionally, The France market is anticipated to witness a CAGR of 10.3% during the forecast period.
The Commercial market dominated the Spain Modular Chiller Market by Application 2019, thereby, achieving a market value of $42.1 million by 2026. The Industrial market is showcasing a CAGR of 9.2% during (2020 - 2026). Additionally, The Residential market is exhibiting highest CAGR of 10.7% during (2020 - 2026).
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Johnson Controls International PLC, Trane Technologies PLC, Midea Group Co., Ltd., Daikin Industries, Ltd., Mitsubishi Electric Corporation, Haier Group Corporation, Carrier Global Corporation, Multistack International Limited, Gree Electric Appliances, Inc., and Frigel Group.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
- Water Cooled Modular Chiller
- Air Cooled Modular Chiller
- More than 300 Tons
- Below 300 Tons
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Johnson Controls International PLC
- Trane Technologies PLC
- Midea Group Co., Ltd.
- Daikin Industries, Ltd.
- Mitsubishi Electric Corporation
- Haier Group Corporation
- Carrier Global Corporation
- Multistack International Limited
- Gree Electric Appliances, Inc.
- Frigel Group
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