The “Europe & South East Asia (SEA) Modular Chiller Market” 2022-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period.
The Europe & South East Asia (SEA) modular chiller market held a market value of USD 548.8 Million in 2020 and is forecasted to reach USD 783.4 Million by the year 2027. The market is expected to grow at a CAGR of 5.6% over the forecast period. The market volume in 2020 was around 30,423 units.
Request To Download Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=ARS146
Modular chillers are small packaged chillers with which a HVAC provider can combine with other chillers in order to build a single large machine into a HVAC system. The market is anticipated to be driven by the rising government spending on upgrading the public infrastructure coupled with concurrent heating & cooling ability. Furthermore, increasing awareness regarding energy-efficient equipment owing to growing awareness regarding environmental degradation is also expected to fuel the market growth.
However, the high initial cost along with stringent regulations is estimated to hinder the market growth. The high initial cost includes installation cost as well as electricity consumption.
Growth Influencers:
Concurrent heating and cooling ability
Heating, ventilation, and air conditioning (HVAC) applications require no idle time in modular chillers. This is because the capacity of these systems can be raised by adding a parallel module. This enables increased cooling capacity with no substantial downtime. The operator of a modular chiller can also switch to the additional parallel unit in case one unit stops working and cooling is required. Hence, concurrent cooling and heating ability is expected to boost the market growth.
Segments Overview
The Europe & South East Asia (SEA) modular chiller market is classified into type, demand, and application.
By Type,
• Water-Cooled
o <50kW
o 51-100kW
o 101-200kW
o 201-300kW
o >301kW
• Air-Cooled
o <50kW
o 51-100kW
o 101-200kW
o 201-300kW
o >301kW
The water-cooled segment is expected to hold the dominant market share of around 53.8% owing to its superior performance as compared to the air-cooled modular chillers. Within the water-cooled segment, <50kW segment is estimated to surpass a market volume of about 12000 units by 2022. The air-cooled segment is anticipated to reach a market size of USD 352.10 million in 2027 owing to their increasing demand in the market due to their low cost as compared to the water-cooled modular chillers. Within the air-cooled segment, the 51-100kW segment witnessed a volume CAGR of around 5.4% and the >301kW segment is expected to hit a volume of 691 units by 2027.
Download Free Sample of This Strategic Report:- https://reportocean.com/industry-verticals/sample-request?report_id=ARS146
By Demand,
• New Market
• Replacement Market
The replacement market segment held the dominant value market share of about 65% owing to the high adoption of replacement modular chillers. The new market segment is also estimated to witness significant growth during the forecast period.
By Application,
• Commercial
o Corporate Offices
o Data Centers
o Public Buildings
o Mercantile & Service
o Healthcare
o Others
• Industrial
o Chemical
o Food & Beverage
o Metal Manufacturing & Machining
o Medical & Pharmaceutical
o Plastics
o Others
• Residential
o Multistorey
o Bungalows & Villas
The commercial segment is expected to hold the largest market share of about 50% owing to increasing usage of modular chillers in hospitals and other healthcare facilities. Within this segment, the corporate offices segment is estimated witness a growth rate of 6.7% and the healthcare segment is expected to reach a market volume of 2,540 units in 2025. On the other hand, the industrial segment is expected to grow at a CAGR of 6% owing to the growing demand of modular chillers in medical & pharmaceutical industry and food & beverage industry. The medical and pharmaceutical industry is anticipated to reach a market value of USD 31.4 million by 2027.
Regional Overview
On a regional basis, the Europe region is segmented into the UK, Germany, France, Italy, Spain, Netherlands, and Rest of Europe. The South-East Asia region is classified into Indonesia, Thailand, Singapore, Malaysia, Philippines, Vietnam, Myanmar, and rest of SEA.
Within Europe, Italy held the largest value share of about 16% owing to the rising adoption of energy efficient products. Netherlands is estimated to surpass a market volume of about 824 units in 2027 owing to the rapid industrialization and growing development of new buildings in the country.
The South East Asian region is anticipated to surpass a market volume of about 2,900 thousand units in 2025 owing to the increasing energy consumption due to growing number of construction activities in the region. Furthermore, increasing awareness amongst the consumers and favourable government policies are also expected to fuel the market growth.
To Get More Business Strategies For Request Sample Report:- https://reportocean.com/industry-verticals/sample-request?report_id=ARS146
Competitive Landscape
Key players operating in the Europe & South East Asia (SEA) modular chiller market include 1st Cooling Inc., AEC, Inc., Carrier Corporation, ClimaCool Corporation, Croll Reynolds Company, Delta T Systems, Frigel Firenze S.p.A., Gree Electric Appliances, Inc., Haier Inc., Hiver, Ingersoll-Rand Inc., Johnson Controls-Hitachi Air Conditioning, LG Electronics, McQuay Air-Conditioning Ltd. (Daikin), Midea Group, Mitsubishi Electric Corp., Multistack, LLC., Trane Technologies plc, WARE, and other prominent players.
The approximate market share of the seven major players is close to 59%. These market players are involved in partnerships, mergers & acquisitions, new product launches, to strengthen their market presence. For instance, in January 2021, LG launched a super convertible 5-in-1 air conditioners range which delivers hygiene and health related smart benefits.
The Europe & South East Asia (SEA) modular chiller market report provides insights on the below pointers:
• Market Penetration: Provides comprehensive information on the market offered by the prominent players
• Market Development: The report offers detailed information about lucrative emerging markets and analyzes penetration across mature segments of the markets
• Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
• Competitive Landscape Assessment: Mergers & acquisitions, certifications, product launches in the Europe & South East Asia (SEA) modular chiller market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
• Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The Europe & South East Asia (SEA) modular chiller market report answers questions such as:
• What is the market size and forecast of the Europe & South East Asia (SEA) modular chiller Market?
• What are the inhibiting factors and impact of COVID-19 on the Europe & South East Asia (SEA) modular chiller Market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the Europe & South East Asia (SEA) modular chiller Market?
• What is the competitive strategic window for opportunities in the Europe & South East Asia (SEA) modular chiller Market?
• What are the technology trends and regulatory frameworks in the Europe & South East Asia (SEA) modular chiller Market?
• What is the market share of the leading players in the Europe & South East Asia (SEA) modular chiller Market?
• What modes and strategic moves are considered favorable for entering the Europe & South East Asia (SEA) modular chiller Market?
Request Full Report- https://reportocean.com/industry-verticals/sample-request?report_id=ARS146
About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean is the world’s leading research company, known for its informative research reports. We are committed to providing our clients with both quantitative and qualitative research results. As a part of our global network and comprehensive industry coverage, we offer in-depth knowledge, allowing informed and strategic business conclusions to report. We utilize the most recent technology and analysis tools along with our own unique research models and years of expertise, which assist us to create necessary details and facts that exceed expectations.
Get in Touch with Us:
Report Ocean:
Email:sales@reportocean.com
Address: 500 N Michigan Ave, Suite 600, Chicago, Illinois 60611 – UNITED STATES
Tel:+1888 212 3539 (US – TOLL FREE)
Website:https://reportocean.com