Modular Chillers Market Size was valued at USD 2.93 Billion in 2023 and is expected to reach USD 5.07 Billion by 2032 and grow at a CAGR of 6.33% over the forecast period 2024-2032.
The Modular Chillers Market is witnessing tremendous growth with increasing demand for energy-efficient cooling solutions in commercial, industrial, and residential applications. Modular chillers are scalable, redundant, and easy to maintain, which makes them a popular option for HVAC applications. Some of the major drivers of market growth include stringent environmental regulations, rising adoption of smart cooling technologies, and expanding infrastructure development. The study offers in-depth market trend analysis, competitive scenarios, technology advancements, and investment possibilities.
The U.S. Modular Chillers Market stood at USD 0.35 billion in 2023 and is anticipated to increase to USD 0.63 billion by 2032, growing at a CAGR of 6.78% from 2024 to 2032. The Modular Chillers Market is expanding at a fast pace with increasing demand for energy-efficient and scalable cooling solutions. Commercial, industrial, and residential sectors are embracing modular chillers for their cost-effectiveness and flexibility. Developments in smart cooling technologies and strict environmental regulations are also fueling market growth and innovation.
Key Drivers:
Increasing Adoption of Energy-Efficient HVAC Systems Drives Modular Chillers Market Growth
The growing need for energy-efficient HVAC systems due to industries and commercial buildings trying to save on energy usage and operational expenses has increased demand. Modular chillers provide increased efficiency, scalability, and redundancy compared to conventional chillers and thus are a desired option. Stringent energy standards and green building codes from governments across the globe are also hastening market growth. Moreover, technology improvements in intelligent cooling solutions, including IoT-monitored and AI-optimized monitoring, improve system efficiency and decrease maintenance expenses. The increasing trend towards sustainability and carbon footprint mitigation is compelling businesses to invest in modular chillers, leading to their expanding market penetration in all industries.
Restraint:
High Initial Investment Costs Limit the Widespread Adoption of Modular Chillers in Cost-Sensitive Markets
Although they have long-term cost-saving advantages, modular chillers involve a high initial investment, which can be a significant deterrent for companies, particularly in price-sensitive markets. Procurement, installation, and integration of modular chillers involve more capital than traditional cooling systems, and hence affordability becomes a major issue. Small and medium-sized enterprises (SMEs) are reluctant to make the transition due to financial constraints and prefer traditional systems with lower capital costs. In addition, the limited awareness of modular chillers' long-term energy and operational advantages is another limiting factor for their acceptance.
Opportunity:
Growing Smart Building and Green Infrastructure Development Expands Modular Chillers Market Potential
The emerging trend of smart buildings and green infrastructure is a big opportunity for the modular chillers market. Governments and companies are funding sustainable building solutions that incorporate energy-efficient technologies, such as smart HVAC systems. Modular chillers, through their capability to maximize cooling loads and minimize energy wastage, fit right in with these green solutions. In addition, technological developments in building automation systems (BAS) enable the smooth integration of modular chillers to monitor performance in real-time and for predictive maintenance. Increasing demand for LEED-certified structures and green infrastructure will drive the implementation of modular chillers higher, leading to business growth across the world.
Challenge:
Complexity in System Integration and Maintenance Hinders Modular Chillers Market Growth
Modular chillers have benefits such as scalability and energy efficiency, but integrating them with existing HVAC infrastructures can be complicated. Incompatibility issues in systems, different cooling load demands, and technical skills involved in installation and maintenance are obstacles for end-users. Lack of proper training on the part of facility managers and technicians can create inefficiencies that compromise system performance and longevity. Improper balancing of loads and synchronization of control systems can also cause suboptimal energy savings. In order to overcome these obstacles, industry players need to concentrate on delivering holistic training, easy-to-use control systems, and improved after-sales support to ensure smooth adoption and operation of modular chillers in various applications.
By Product
The Water-Cooled modular chillers segment dominated the market with a 61.40% share in revenue terms in 2023, benefiting from high efficiency, better cooling capacity, and extensive use across commercial and industrial sectors. Industry players such as Carrier, Trane, and Daikin have introduced highly advanced water-cooled modular chillers with advanced energy efficiency and intelligent control aspects. For example, Trane's Agility water-cooled chillers concentrate on space-conserving designs and optimized energy efficiency. Growing demand from data centers, healthcare institutions, and commercial buildings drives this segment's dominance. With regulatory pressure and sustainability initiatives favoring energy-efficient cooling, the water-cooled segment continues to be a keystone of the Modular Chillers Market.
The Air-Cooled modular chillers segment is estimated to have the highest CAGR of 6.45% owing to an increase in the demand for economical, flexible, and easy installation cooling solutions. Major industry stakeholders such as Mitsubishi Electric, Johnson Controls, and LG Electronics are innovating on this front. For instance, LG introduced its Inverter Scroll Modular Chiller with superior heat exchange technology for enhanced efficiency as well as minimization of carbon emissions. The segment is supported by growing uptake in small-to-medium commercial establishments, residential complexes, and retrofitting applications where water availability is limited.
By Application
The commercial segment held the largest share of 47.80% in the Modular Chillers Market in 2023, influenced by the growing need for efficient cooling in corporate spaces, data centers, healthcare, and government buildings. Major industry players like Daikin Industries Ltd. and Carrier Global Corporation have been launching innovative modular chiller products to maximize system efficiency and minimize carbon emissions. In 2023, Trane Technologies introduced high-efficiency modular chillers with intelligent controls for energy management in commercial buildings. The fast growth of commercial infrastructure, strict energy policies, and increasing use of smart building technologies continue to drive the dominance of the segment.
Residential application is anticipated to expand at the highest CAGR of 7.44% due to growing urbanization, smart home adoption, and the need for energy-efficient HVAC equipment. Industry leaders such as Mitsubishi Electric Corporation and Johnson Controls have designed modular chillers specific for residential cooling with features like quiet operation and energy efficiency. LG Electronics released an IoT-monitoring-enabled advanced residential modular chiller in 2024. Government policies encouraging energy-efficient homes and the increase in green building certifications also increase demand.
The Asia Pacific region led the Modular Chillers Market with a 40.70% revenue share in 2023 due to fast urbanization, industrial growth, and rising investments in energy-efficient HVAC facilities. India, China, and Japan are observing a growth spurt in commercial developments, such as data centers, office buildings, and healthcare buildings, propelling the demand for modular chillers. Established players such as Daikin, Carrier, and Trane Technologies have introduced smart modular chillers with IoT controls and better energy efficiency to meet increasing demand. The increase in the usage of green building certifications and initiatives by governments towards carbon footprint management further augurs well for regional market growth.
The Middle East & Africa market is expected to witness the significant CAGR of 5.99% over the forecast period with the increasing infrastructure developments, harsh climatic conditions, and growing emphasis on sustainable cooling systems. Increasing developments of smart cities, commercial buildings, and industrial campuses in the UAE, Saudi Arabia, and South Africa are driving demand for modular chillers. Players such as Johnson Controls and LG Electronics have launched high-efficiency modular chiller models designed for high-temperature regions to provide improved cooling performance. Government-supported energy efficiency programs and increased investments in HVAC systems powered by renewable sources are likely to spur additional regional market growth.
Trane Technologies plc – (Modular Series Chillers, Sintesis Air-Cooled Chillers)
GREE ELECTRIC APPLIANCES, INC. – (GMV5 Modular Chiller, Scroll Modular Chiller)
Carrier Corporation – (AquaSnap 30MP Modular Chiller, AquaForce 30XV Air-Cooled Chiller)
FRIGEL FIRENZE S.p.A. – (Microgel Modular Chiller, Aquagel Chiller System)
Midea Group – (MGC-V Modular Air-Cooled Chiller, MWC-W Modular Water-Cooled Chiller)
Multistack International Limited – (MagLev Chiller, Air-Cooled Modular Chiller)
Daikin Industries, Ltd. – (TZ Modular Chiller, EWAT-B Air-Cooled Scroll Chiller)
Johnson Controls – (YVFA Free-Cooling Modular Chiller, YMC Magnetic Bearing Centrifugal Chiller)
Haier Group – (MRV Modular Chiller, Modular Scroll Chiller)
Mitsubishi Electric Corporation – (E-Series Modular Chiller, City Multi Modular Chiller)
McQuay Air-Conditioning Ltd. – (WMC Modular Centrifugal Chiller, Modular Scroll Chiller)
Johnson Controls-Hitachi Air Conditioning – (SAMURAI Modular Chiller, Scroll Chiller Series)
Ingersoll Rand – (Thermo King Modular Chiller, Air-Cooled Scroll Chiller)
Multistack, LLC. – (MS Modular Chiller, MagLev Water-Cooled Chiller)
LG Electronics – (Inverter Scroll Modular Chiller, Air-Cooled Modular Chiller)
Nanjing TICA Climate Solutions Co., Ltd. – (Modular Air-Cooled Chiller, Variable Speed Water-Cooled Chiller)
Gree Electric Appliances, Inc. of Zhuhai – (Modular Scroll Chiller, V6 Air-Cooled Modular Chiller)
January 2024 – Trane Technologies plc introduced the Thermo King Advancer Hybrid Refrigeration System, a state-of-the-art transport refrigeration unit (TRU) designed to enhance energy efficiency, reduce emissions, and support sustainability initiatives.
February 2024 –REE ELECTRIC APPLIANCES, INC. launched its New Generation Modular Air-Cooled Chiller, integrating AI-based optimization technology to enhance energy efficiency, operational flexibility, and intelligent cooling performance. This innovation caters to commercial, industrial, and data center applications, addressing the growing demand for sustainable and energy-efficient HVAC systems.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | USD 2.93 Billion |
| Market Size by 2032 | USD 5.07 Billion |
| CAGR | CAGR of 6.33% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Product – Water-Cooled (<50kW, 51-100kW, 101-200kW, 201-300kW, >301kW), Air-Cooled (<50kW, 51-100kW, 101-200kW, 201-300kW, >301kW) • By Application – Commercial (Corporate Offices, Data Centers, Public Buildings, Mercantile & Service, Healthcare, Others), Residential, Industrial (Chemical, Food & Beverage, Metal Manufacturing & Machining, Medical & Pharmaceutical, Plastics, Others) |
| Regional Analysis/Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Company Profiles | Trane Technologies plc, GREE ELECTRIC APPLIANCES, INC., Carrier Corporation, FRIGEL FIRENZE S.p.A., Midea Group, Multistack International Limited, Daikin Industries, Ltd., Johnson Controls, Haier Group, Mitsubishi Electric Corporation, McQuay Air-Conditioning Ltd., Johnson Controls-Hitachi Air Conditioning, Ingersoll Rand, Multistack, LLC., LG Electronics, Nanjing TICA Climate Solutions Co., Ltd., Gree Electric Appliances, Inc. of Zhuhai |
Ans: The Modular Chillers Market is expected to grow at a CAGR of 6.33% during 2024-2032.
Ans: The Modular Chillers Market size was USD 2.93 billion in 2023 and is expected to Reach USD 5.07 billion by 2032.
Ans: The major growth factor of the Modular Chillers Market is the rising demand for energy-efficient, scalable, and environmentally friendly cooling solutions across commercial, industrial, and residential sectors.
Ans: The commercial segment dominated the Modular Chillers Market.
Ans: Asia Pacific dominated the Modular Chillers Market in 2023.
1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions
2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary
3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews
4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.1.2 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model
5. Statistical Insights and Trends Reporting
5.1 Production & Manufacturing Insights (2023)
5.2 Investment & Financial Metrics (2023)
5.3 Supply-Demand Gap Analysis (2023)
5.4 Digitalization & Smart Technology Integration
6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.3.1 Product specifications and features
6.3.2 Pricing
6.4 Strategic Initiatives
6.4.1 Marketing and promotional activities
6.4.2 Distribution and supply chain strategies
6.4.3 Expansion plans and new product launches
6.4.4 Strategic partnerships and collaborations
6.5 Technological Advancements
6.6 Market Positioning and Branding
7. Modular Chillers Market Segmentation, By Product
7.1 Chapter Overview
7.2 Water-Cooled
7.2.1 Water-Cooled Market Trends Analysis (2020-2032)
7.2.2 Water-Cooled Market Size Estimates and Forecasts to 2032 (USD Billion)
7.2.3 <50kW
7.2.3.1 <50kW Market Trends Analysis (2020-2032)
7.2.3.2 <50kW Market Size Estimates and Forecasts to 2032 (USD Billion)
7.2.4 51-100kW
7.2.4.1 51-100kW Market Trends Analysis (2020-2032)
7.2.4.2 51-100kW Market Size Estimates and Forecasts to 2032 (USD Billion)
7.2.5 101-200kW
7.2.5.1 101-200kW Market Trends Analysis (2020-2032)
7.2.5.2 101-200kW Market Size Estimates and Forecasts to 2032 (USD Billion)
7.2.6 201-300kW
7.2.6.1 201-300kW Market Trends Analysis (2020-2032)
7.2.6.2 201-300kW Market Size Estimates and Forecasts to 2032 (USD Billion)
7.2.7 >301kW
7.2.7.1 >301kW Market Trends Analysis (2020-2032)
7.2.7.2 >301kW Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3 Air-Cooled
7.3.1 Air-Cooled Market Trends Analysis (2020-2032)
7.3.2 Air-Cooled Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3.3 <50kW
7.3.3.1 <50kW Market Trends Analysis (2020-2032)
7.3.3.2 <50kW Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3.4 51-100kW
7.3.4.1 51-100kW Market Trends Analysis (2020-2032)
7.3.4.2 51-100kW Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3.5 101-200kW
7.3.5.1 101-200kW Market Trends Analysis (2020-2032)
7.3.5.2 101-200kW Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3.6 201-300kW
7.3.6.1 201-300kW Market Trends Analysis (2020-2032)
7.3.6.2 201-300kW Market Size Estimates and Forecasts to 2032 (USD Billion)
7.3.7 >301kW
7.3.7.1 >301kW Market Trends Analysis (2020-2032)
7.3.7.2 >301kW Market Size Estimates and Forecasts to 2032 (USD Billion)
8. Modular Chillers Market Segmentation, By Application
8.1 Chapter Overview
8.2 Commercial
8.2.1 Commercial Market Trends Analysis (2020-2032)
8.2.2 Commercial Market Size Estimates and Forecasts to 2032 (USD Billion)
8.2.3 Corporate Offices
8.2.3.1 Corporate Offices Market Trends Analysis (2020-2032)
8.2.3.2 Corporate Offices Market Size Estimates and Forecasts to 2032 (USD Billion)
8.2.4 Data Centers
8.2.4.1 Data Centers Market Trends Analysis (2020-2032)
8.2.4.2 Data Centers Market Size Estimates and Forecasts to 2032 (USD Billion)
8.2.5 Public Buildings
8.2.5.1 Public Buildings Market Trends Analysis (2020-2032)
8.2.5.2 Public Buildings Market Size Estimates and Forecasts to 2032 (USD Billion)
8.2.6 Mercantile & Service
8.2.6.1 Mercantile & Service Market Trends Analysis (2020-2032)
8.2.6.2 Mercantile & Service Market Size Estimates and Forecasts to 2032 (USD Billion)
8.2.7 Healthcare
8.2.7.1 Corporate Offices Market Trends Analysis (2020-2032)
8.2.7.2 Corporate Offices Market Size Estimates and Forecasts to 2032 (USD Billion)
8.2.8 Others
8.2.8.1 Others Market Trends Analysis (2020-2032)
8.2.8.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
8.3 Residential
8.3.1 Residential Market Trends Analysis (2020-2032)
8.3.2 Residential Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4 Industrial
8.4.1 Industrial Trends Analysis (2020-2032)
8.4.2 Industrial Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4.3 Chemical
8.4.3.1 Chemical Market Trends Analysis (2020-2032)
8.4.3.2 Chemical Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4.4 Food & Beverage
8.4.4.1 Chemical Market Trends Analysis (2020-2032)
8.4.4.2 Chemical Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4.5 Metal Manufacturing & Machining
8.4.5.1 Metal Manufacturing & Machining Market Trends Analysis (2020-2032)
8.4.5.2 Metal Manufacturing & Machining Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4.6 Medical & Pharmaceutical
8.4.6.1 Medical & Pharmaceutical Market Trends Analysis (2020-2032)
8.4.6.2 Medical & Pharmaceutical Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4.7 Plastics
8.4.7.1 Plastics Market Trends Analysis (2020-2032)
8.4.7.2 Plastics Market Size Estimates and Forecasts to 2032 (USD Billion)
8.4.8 Others
8.4.8.1 Others Market Trends Analysis (2020-2032)
8.4.8.2 Others Market Size Estimates and Forecasts to 2032 (USD Billion)
9. Regional Analysis
9.1 Chapter Overview
9.2 North America
9.2.1 Trends Analysis
9.2.2 North America Modular Chillers Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.2.3 North America Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.2.4 North America Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.2.5 USA
9.2.5.1 USA Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.2.5.2 USA Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.2.6 Canada
9.2.6.1 Canada Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.2.6.2 Canada Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.2.7 Mexico
9.2.7.1 Mexico Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.2.7.2 Mexico Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3 Europe
9.3.1 Eastern Europe
9.3.1.1 Trends Analysis
9.3.1.2 Eastern Europe Modular Chillers Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.3.1.3 Eastern Europe Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.1.4 Eastern Europe Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.1.5 Poland
9.3.1.5.1 Poland Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.1.5.2 Poland Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.1.6 Romania
9.3.1.6.1 Romania Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.1.6.2 Romania Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.1.7 Hungary
9.3.1.7.1 Hungary Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.1.7.2 Hungary Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.1.8 Turkey
9.3.1.8.1 Turkey Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.1.8.2 Turkey Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.1.9 Rest of Eastern Europe
9.3.1.9.1 Rest of Eastern Europe Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.1.9.2 Rest of Eastern Europe Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2 Western Europe
9.3.2.1 Trends Analysis
9.3.2.2 Western Europe Modular Chillers Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.3.2.3 Western Europe Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.2.4 Western Europe Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.5 Germany
9.3.2.5.1 Germany Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.2.5.2 Germany Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.6 France
9.3.2.6.1 France Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.2.6.2 France Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.7 UK
9.3.2.7.1 UK Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.2.7.2 UK Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.8 Italy
9.3.2.8.1 Italy Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.2.8.2 Italy Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.9 Spain
9.3.2.9.1 Spain Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.2.9.2 Spain Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.10 Netherlands
9.3.2.10.1 Netherlands Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.2.10.2 Netherlands Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.11 Switzerland
9.3.2.11.1 Switzerland Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.2.11.2 Switzerland Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.12 Austria
9.3.2.12.1 Austria Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.2.12.2 Austria Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.3.2.13 Rest of Western Europe
9.3.2.13.1 Rest of Western Europe Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.3.2.13.2 Rest of Western Europe Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4 Asia Pacific
9.4.1 Trends Analysis
9.4.2 Asia Pacific Modular Chillers Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.4.3 Asia Pacific Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.4.4 Asia Pacific Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.5 China
9.4.5.1 China Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.4.5.2 China Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.6 India
9.4.5.1 India Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.4.5.2 India Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.5 Japan
9.4.5.1 Japan Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.4.5.2 Japan Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.6 South Korea
9.4.6.1 South Korea Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.4.6.2 South Korea Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.7 Vietnam
9.4.7.1 Vietnam Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.2.7.2 Vietnam Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.8 Singapore
9.4.8.1 Singapore Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.4.8.2 Singapore Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.9 Australia
9.4.9.1 Australia Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.4.9.2 Australia Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.4.10 Rest of Asia Pacific
9.4.10.1 Rest of Asia Pacific Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.4.10.2 Rest of Asia Pacific Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5 Middle East and Africa
9.5.1 Middle East
9.5.1.1 Trends Analysis
9.5.1.2 Middle East Modular Chillers Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.5.1.3 Middle East Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.5.1.4 Middle East Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.1.5 UAE
9.5.1.5.1 UAE Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.5.1.5.2 UAE Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.1.6 Egypt
9.5.1.6.1 Egypt Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.5.1.6.2 Egypt Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.1.7 Saudi Arabia
9.5.1.7.1 Saudi Arabia Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.5.1.7.2 Saudi Arabia Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.1.8 Qatar
9.5.1.8.1 Qatar Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.5.1.8.2 Qatar Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.1.9 Rest of Middle East
9.5.1.9.1 Rest of Middle East Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.5.1.9.2 Rest of Middle East Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.2 Africa
9.5.2.1 Trends Analysis
9.5.2.2 Africa Modular Chillers Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.5.2.3 Africa Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.5.2.4 Africa Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.2.5 South Africa
9.5.2.5.1 South Africa Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.5.2.5.2 South Africa Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.2.6 Nigeria
9.5.2.6.1 Nigeria Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.5.2.6.2 Nigeria Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.5.2.7 Rest of Africa
9.5.2.7.1 Rest of Africa Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.5.2.7.2 Rest of Africa Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.6 Latin America
9.6.1 Trends Analysis
9.6.2 Latin America Modular Chillers Market Estimates and Forecasts, by Country (2020-2032) (USD Billion)
9.6.3 Latin America Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.6.4 Latin America Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.6.5 Brazil
9.6.5.1 Brazil Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.6.5.2 Brazil Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.6.6 Argentina
9.6.6.1 Argentina Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.6.6.2 Argentina Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.6.7 Colombia
9.6.7.1 Colombia Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.6.7.2 Colombia Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
9.6.8 Rest of Latin America
9.6.8.1 Rest of Latin America Modular Chillers Market Estimates and Forecasts, By Product (2020-2032) (USD Billion)
9.6.8.2 Rest of Latin America Modular Chillers Market Estimates and Forecasts, By Application (2020-2032) (USD Billion)
10. Company Profiles
10.1 Trane Technologies plc
10.1.1 Company Overview
10.1.2 Financial
10.1.3 Products/ Services Offered
110.1.4 SWOT Analysis
10.2 GREE ELECTRIC APPLIANCES, INC
10.2.1 Company Overview
10.2.2 Financial
10.2.3 Products/ Services Offered
10.2.4 SWOT Analysis
10.3 Carrier Corporation
10.3.1 Company Overview
10.3.2 Financial
10.3.3 Products/ Services Offered
10.3.4 SWOT Analysis
10.4 FRIGEL FIRENZE S.p.A.
10.4.1 Company Overview
10.4.2 Financial
10.4.3 Products/ Services Offered
10.4.4 SWOT Analysis
10.5 Midea Group
10.5.1 Company Overview
10.5.2 Financial
10.5.3 Products/ Services Offered
10.5.4 SWOT Analysis
10.6 Multistack International Limited
10.6.1 Company Overview
10.6.2 Financial
10.6.3 Products/ Services Offered
10.6.4 SWOT Analysis
10.7 Daikin Industries, Ltd.
10.7.1 Company Overview
10.7.2 Financial
10.7.3 Products/ Services Offered
10.7.4 SWOT Analysis
10.8 Johnson Controls
10.8.1 Company Overview
10.8.2 Financial
10.8.3 Products/ Services Offered
10.8.4 SWOT Analysis
10.9 Haier Group
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 SWOT Analysis
10.10 Mitsubishi Electric Corporation
10.9.1 Company Overview
10.9.2 Financial
10.9.3 Products/ Services Offered
10.9.4 SWOT Analysis
11. Use Cases and Best Practices
12. Conclusion
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.
The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.
Step 3: Data Bank Validation
Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.
Step 4: QA/QC Process
After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.
Step 5: Final QC/QA Process:
This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.
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