Dublin, May 25, 2021 (GLOBE NEWSWIRE) -- The "Modular Chillers Market Size, Share & Trends Analysis Report by Product (Water-cooled, Air-cooled), by End-use (Commercial, Residential, Industrial), by Region (Middle East & Africa, Asia Pacific) and Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global modular chillers market size is expected to reach USD 4.02 billion by 2028 registering a CAGR of 6.7%.
The growing demand for energy-efficient buildings on account of the rising awareness regarding environmental degradation coupled with stringent government regulations is anticipated to fuel the product demand over the forecast period.
Increasing construction spending in emerging countries, such as China, India, and Brazil, on account of strong economic and industrial development coupled with population expansion, is anticipated to drive the product demand over the forecast period. In addition, rising awareness about energy-efficient systems and the harmful impacts of burning fossil fuels is expected to further boost the market growth over the coming years.
Several initiatives promoting and encouraging energy-efficiency have been adopted and implemented in Europe. For instance, the European Commission's initiative "The European Portal for Energy Efficiency of Buildings" allows exploration and sharing of knowledge and optimal practices offering energy solutions for buildings.
According to the International Trade Administration (ITA), the construction industry in Canada was valued at USD 126.3 billion in 2018 and accounted for over 7% of the country's GDP. The presence of stringent government regulations in Toronto and Vancouver for cooling the overheated markets in the residential sector is expected to drive the product demand over the coming years.
Modular Chillers Market Report Highlights
In terms of revenue, the demand for water-cooled chillers is expected to witness growth at a CAGR of 6.1% from 2021 to 2028.
This growth is attributed to pressure operating features and lower condensing temperature offered by water-cooled systems compared to air-cooled systems.
The commercial sector is estimated to be valued at USD 2.02 billion by 2028 on account of the rising product demand from the healthcare industry.
China accounted for a revenue share of 60.1% of the Asia Pacific market in 2020 and is anticipated to witness steady growth owing to the rising population, urbanization, and government initiatives to enhance the country's infrastructure.
The growing demand for housing projects owing to the rising population in urban areas is expected to drive the construction industry in Brazil, thereby, augmenting the product demand in the country.
Key Topics Covered:
Chapter 1 Methodology And Scope
Chapter 2 Executive Summary
Chapter 3 Market Variables, Trends & Scope
3.1 Market Segmentation & Scope
3.2 Penetration & Growth Prospect Mapping
3.3 Industry Value Chain Analysis
3.3.1 Raw Material Outlook
188.8.131.52 Refrigerants and Cooling Agents
3.4 Technology Overview
3.4.1 Air-cooled chillers
3.4.2 Water-cooled chillers
3.5 Regulatory Framework
3.6 Market Dynamics
3.6.1 Market Driver Analysis
184.108.40.206 Growth of the construction industry
220.127.116.11 Increasing demand for energy-efficient solutions coupled with favorable government regulations
3.6.2 Market Restraint Analysis
18.104.22.168 Potential issues caused due to heat exchangers
3.6.3 Industry Challenges
3.7 Business Environment Analysis: Modular Chillers Market
3.7.1 Industry Analysis-Porter's
22.214.171.124 Supplier Power
126.96.36.199 Buyer Power
188.8.131.52 Threat of Substitutes
184.108.40.206 Threat from New Entrant
220.127.116.11 Competitive Rivalry
3.7.2 PESTEL Analysis
18.104.22.168 Political Landscape
22.214.171.124 Environmental Landscape
126.96.36.199 Social Landscape
188.8.131.52 Technology Landscape
184.108.40.206 Economic Landscape
220.127.116.11 Legal Landscape
3.7.3 Major Deals & Strategic Alliances Analysis
Chapter 4 Covid-19: Impact Analysis
4.1 Covid-19 Spread Globally
4.2 Impact Of Covid-19 On Global Gdp
4.3 Impact Of Covid-19 On Modular Chillers Market
Chapter 5 Modular Chillers Market: Product Estimates & Trend Analysis
5.1 Modular Chillers Market: Product Movement Analysis, 2020 & 2028
Chapter 6 Modular Chillers Market: End-Use Estimates & Trend Analysis
6.1 Modular Chillers Market: End-Use Movement Analysis, 2020 & 2028
Chapter 7 Modular Chillers Market: Regional Estimates & Trend Analysis
7.1 Modular Chillers Market: Regional Movement Analysis, 2020 & 2028
Chapter 8 COMPETITIVE LANDSCAPE
8.1 Key Players & Recent Developments & Their Impact on the Industry
8.2 Key Competition Categorization
8.3 Vendor Landscape
8.4 SWOT Analysis
8.4.1 Trane Technologies plc
8.4.2 Gree Electric Appliances, Inc.
8.4.5 Midea Group
8.4.6 Multistack International Limited
8.4.7 McQuay Air-Conditioning Ltd. (Daikin)
8.4.8 Johnson Controls-Hitachi Air Conditioning
8.4.9 Haier Group
8.4.10 Mitsubishi Electric Corporation
8.5 Public Companies
8.5.1 Company Market Position Analysis
8.6 Competitive Dashboard Analysis
8.7 Private Companies
Chapter 9 COMPANY PROFILES
Ingersoll Rand (Trane Technologies plc)
Gree Electric Appliances, Inc.
Multistack International Limited
McQuay Air-Conditioning Ltd.
Johnson Controls-Hitachi Air Conditioning
Haier Group (Qingdao Haier)
Mitsubishi Electric Corporation (Black Diamond Technologies Limited)
For more information about this report visit https://www.researchandmarkets.com/r/r4tvr7
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900