Modular Chiller Market

Global 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 Region, Industry Analysis and Forecast, 2020 - 2026

Report Id: KBV-5480 Publication Date: March-2021 Number of Pages: 199
Special Offering:
Industry Insights | Market Trends
Highest number of Tables | 24/7 Analyst Support

Market Report Description

The Global Modular Chiller Market size is expected to reach $3.9 billion by 2026, rising at a market growth of 7.8% CAGR during the forecast period. Chillers play an essential role as a HVAC component across various commercial facilities such as hotels, hospitals, industrial, restaurants, sports arenas, & manufacturing units, etc. The chiller systems are the ones that consume maximum energy and various industries have accepted this fact.

In order to create a single large chiller, a modular chiller is integrated with other modules & it is considered as a packaged chiller. Every module has refrigerants, compressors & regulators; if one module unable to work, the rest modules can continue the operations. In order to expand the cooling capacity of a chiller system, these modules are joined in parallel from 6 units to 12 units. A modular chiller is considered as a solution for cooling, tight spaces, and retrofits and aids in keeping an ideal indoor temperature. Modular chillers offer various features such as expandability, high capacity controls, flexibility, serviceability, redundancy, and are energy-efficient.

Modular Chiller Market Size

The growth of the modular chiller market is anticipated to boost due to a high demand for compact, ventilation, small heating, and energy-efficient, air conditioning, and ventilation systems to regulate room temperature. Moreover, the growth of the modular chiller market is expected to stimulate due to high investments in construction activities by developing countries like India, China, Brazil, and others.

Product Type Outlook

Based on Product Type, the market is segmented into Water Cooled Modular Chiller and Air Cooled Modular Chiller. In 2019, the water-cooled modular chiller was the leading segment as they are energy-efficient in comparison to air-cooled products. Water-cooled products have low wet-bulb temperatures as compared to dry-bulb temperature, causing a lower condensing pressure & temperature in water-cooled chillers in comparison to air-cooled. For the water-cooler chiller systems, there is a requirement for a high supply of water so that it can replace the evaporated volume of water.

Application Outlook

Based on Application, the market is segmented into Commercial, Industrial and Residential. In 2019, the commercial sector acquired the highest revenue share of the global market. Commercial facilities such as courts, banks, and corporate offices have massive load variations and need cooling all-round the year. As these facilities cannot be closed, it is simple to install a modular chiller on the basis of cooling needs, assembled on the factory job floor.

Modular Chiller Market Share

Capacity Outlook

Based on Capacity, the market is segmented into More than 300 Tons and Below 300 Tons. In 2019, more than 300 Tons capacity segment dominated the modular chiller market. Modular chillers help in giving cooling throughout the anodizing process, in which a high quantity of heat is produced during the hard coating processes. Moreover, these cooling devices are also used in several machine tools processes like plasma cutting, milling, laser cutting, drilling, turning, and welding machines.

Modular Chiller Market Report Coverage
Report Attribute Details
Market size value in 2019 USD 2.6 Billion
Market size forecast in 2026 USD 3.9 Billion
Base Year 2019
Historical Period 2016 to 2018
Forecast Period 2020 to 2026
Revenue Growth Rate CAGR of 7.8% from 2020 to 2026
Number of Pages 199
Number of Tables 332
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling, Competitive Landscape
Segments covered Product Type, Application, Capacity, Region
Country scope US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria
Growth Drivers
  • The demand for modular chillers is increasing due to home automation
  • The utilization of water-cooled chillers in power plants
  • Limitations related to optimization

Free Valuable Insights: Global Modular Chiller Market to reach a market size of $3.9 billion by 2026

KBV Cardinal Matrix - Modular Chiller Market Competition Analysis

Modular Chiller Market Competition Analysis

Regional Outlook

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. In 2019, the Asia-Pacific appeared as the dominating region in the global modular chiller market. This is credited to the increasing investments in commercial & residential construction activities across the region. Moreover, the regional market is expected to boost due to a high number of construction & residential activities across the region, along with increasing demand for HVAC and refrigeration.

The major strategies followed by the market participants are Product Launches and Acquisitions. Based on the Analysis presented in the Cardinal matrix; Trane Technologies PLC, Mitsubishi Electric Corporation, Daikin Industries Ltd., and Midea Group Co., Ltd. are the forerunners in the Modular Chiller Market. Companies such as Frigel Group, Carrier Global Corporation, and Johnson Controls International PLC are some of the key innovators in the market.

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.

Recent Strategies Deployed in Modular Chiller Market

» Partnerships, Collaborations, and Agreements:

  • Dec-2020: Daikin took over the air handling business of Ahmedabad-based Citizen Industries. This acquisition improved its product position in the commercial air-conditioning market. The acquisition reinforced its presence in the ever-changing commercial air-conditioning market and forecasted the segment to raise its contribution to 35 percent of its turnover in the future.
  • Sep-2019: Trane took over Arctic Chiller Group, a Canadian-based HVAC manufacturer. The acquisition helped Trane to offer more options to their customers for decreasing energy and operating costs.
  • Jan-2018: Ingersoll Rand completed its acquisition of ICS Group Holdings Ltd. (UK), a leading HVAC solution provider in Europe. Following the acquisition, the company caters to a wide range of customers and cemented its growth in the European market.
  • Mar-2018: Mitsubishi Electric took over Topclima of Climaveneta, the manufacturers and distributers air conditioning units. Under this acquisition, Mitsubishi utilized the assets of Topclima efficiently for their business development.

» Product Launches and Product Expansion:

  • Dec-2020: Mitsubishi Electric introduced a new Climaveneta-branded NX2 range of air source scroll chillers. This launch expanded the NX2 family and capabilities enhanced energy efficiency and sustainability.
  • Oct-2020: Carrier launched AquaForce 30XV air-cooled variable-speed screw chiller. The addition of a waterside economizer in the chiller helps the owner to get the benefit of lower outdoor air temperatures to cool down their building or process, hence saving a substantial amount of energy.
  • Jun-2020: Mitsubishi Electric Australia has announced an expansion to one of its ‘off-the-shelf’ high-efficiency chiller ranges, which aims to help managers and owners get closer to complying with government energy legislation.
  • Dec-2019: Daikin unveiled a new modular chiller plant. The Modular Chiller Plant (MCP) solutions integrates+ a chiller system, pumps, cooling tower, and piping in a factory-engineered, factory accumulate package which includes commissioning and after-sales support.
  • Sep-2019: Frigel launched the Ecodry System for the plastics industry. The revolutionary concept combines high-performance mold cooling units, Microgel, linked with each mold with a closed circuit adiabatic central cooling system, Ecodry, for whole plant heat dissipation.
  • Aug-2019: Mitsubishi Electric unveiled an air-cooled heat pump chiller, running on lower GWP refrigerant R32. The DT-RIII embraces an efficient aluminum flat tube heat exchanger technology utilized in its VRF products that allow the new chiller to attain cooling at outside temperatures up to 52°C.
  • Jul-2019: Frigel introduced its 3FR modular air-cooled chillers for plastics processors in North America. These chillers support the requirements from 38 to 130 tons, which provide better control, flexibility, and an industry-leading Energy Efficiency Ratio for customers who need a smart option for a broad variety of processes.
  • May-2019: Frigel launched ModularChiller 3FX Water Cooled Central Chiller Line. These chillers range from 25 to 139 tons each, the modular and energy effective 3FX product portfolio enables easy expansion and offers automatic free cooling as part of a combined closed-loop process cooling system.

Scope of the Study

Market Segments Covered in the Report:

By Product Type

  • Water Cooled Modular Chiller
  • Air Cooled Modular Chiller

By Application

  • Commercial
  • Industrial
  • Residential

By Capacity

  • More than 300 Tons
  • Below 300 Tons

By Geography

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

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
Need a report that reflects how COVID-19 has impacted this market and its growth? Download Free Sample Now

Frequently Asked Questions About This Report

The global modular chiller market size is expected to reach $3.9 billion by 2026.

The major factors that are anticipated to drive the modular chiller industry include demand for modular chillers is increasing due to home automation.

The air-cooled modular chillers segment would display a promising growth rate during the forecast period.

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.



Call: +1(646) 600-5072


  • Buy Sections of This Report
  • Buy Country Level Reports
  • Request for Historical Data
  • Discounts Available for Start-Ups & Universities

Unique Offerings Unique Offerings

  • Exhaustive coverage
  • The highest number of Market tables and figures
  • Subscription-based model available
  • Guaranteed best price
  • Support with 10% customization free after sale

Trusted by over
5000+ clients

Our team of dedicated experts can provide you with attractive expansion opportunities for your business.

Client Logo