The Europe Modular Chiller Market is estimated to witness a rise in revenue from US$ 529.2 Mn in 2021 to US$ 724.0 Mn by 2027. The market is registering a CAGR of 5.4% during the forecast period 2022-2027. In terms of volume, the market is registering a CAGR of 4.5% over the forecast period 2022-2027. Whereas, South East Asia Modular Chiller Market is estimated to witness a rise in revenue from US$ 40.50 Mn in 2021 to US$ 59.40 Mn by 2027. The market is registering a CAGR of 6.6% during the forecast period 2022-2027. In terms of volume, the market is registering a CAGR of 5.7% over the forecast period 2022-2027. 

Modular chillers have emerged recently as a more cost-effective and customized chillers in HVAC systems. It’s a small packaged chiller that your HVAC provider can combine with other chiller modules to make a single larger machine within your HVAC system. The main types of modular chillers are modular water-cooled chillers and modular air-cooled chillers. However, both types have the same central parts, including a compressor, a condenser, an expansion device and an evaporator. 

The major factor responsible for the growth of the Europe and SEA modular chiller market includes increasing government spending on upgrading public infrastructure and concurrent heating and cooling ability. A rise in construction activities and government spending on infrastructural construction activities is anticipated to boost the growth of the modular chiller market. Moreover, in modular chillers, no idle time in HVAC applications is required as it offers modularity, it’s capacity can be increased by adding a parallel module. Furthermore, rising investment in innovation technologies for developing advanced industrial dynamics in terms of cooling technology is projected to open new growth opportunities in the modular chiller market. However, factors such as stringent regulations, high initial cost in industrial applications and increasing awareness regarding environment safety are expected to hinder the growth of the market over the forecast period. 

Report Summary

The study of the Europe and SEA Modular Chiller Market considers various market determinants, industry value chain analysis and competitor analysis of the market. The report discusses the analysis of the modular chiller industry for the period 2017-2027, where the base year is 2021 and the forecast period is 2022-2027. The report provides a detailed analysis of the Europe and SEA Modular Chiller Market across 16 Chapters and 260 pages. The report includes data presentation across 56 tables and 74 statistical figures. 

The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein bargaining power of buyers and competitive rivalry is high.

The subsequent section provides details of the market analysis based on different segments such as product type, demand, application and region. The report includes detailed study of value chain of the industry. It includes raw material provider, manufacturer, distributors and end users. The report also covers extensively about the key competitors in the market for modular chiller.

Covid-19 Impact Assessment on Europe and SEA Modular Chiller Market 

Due to the outbreak of the COVID-19 pandemic, the Europe & SEA modular chiller witnessed a sudden downfall in the market. During lockdown, owing to the COVID-19 pandemic, various major players in the modular chiller market stopped their business production due to lockdown implemented in countries such as UK, Germany, Italy and other countries. This break directly impacted the sales of modular chiller companies. Also, lack of manpower and raw materials have halted the supply of modular chillers. Moreover, stoppage in infrastructure development buildings construction is anticipated to impact the sales of modular chiller market.

Key Takeaways from the Europe and SEA Modular Chiller Market Report

• Based on product type, the water-cooled segment holds the highest market share in 2021 owing to its superior performance as compared to the air-cooled modular chillers. Moreover, the air-cooled segment is projected to grow at the highest CAGR during the forecast period. 
• In terms of demand, the replacement market segment is estimated to have the highest market share during the forecast period owing to the high adoption of replacement modular chillers. Moreover, the new market segment is projected to grow at the highest CAGR during the forecast period.  
• By application, the commercial segment is estimated to have the highest market share in 2021 owing to increasing usage of modular chillers in hospitals and other healthcare facilities. Moreover, the industrial segment is anticipated to grow at the highest CAGR over the forecast period owing to the growing demand of modular chillers in medical & pharmaceutical industry and food & beverage industry. 
• By country, Italy is the highest share holder country in 2021 in the Europe modular chiller market and is also anticipated to project the highest CAGR over the forecast period due to high growth rate of emerging and developing economies across the region. Whereas, Vietnam is expected to project the highest CAGR in the SEA modular chiller market during the forecast period. 

Strategic Outlook of Major Companies 

• Carrier is a company in high-technology heating, air-conditioning and refrigeration solutions. The company provides sustainable solutions, integrating energy-efficient products, building controls and energy services for residential, commercial, retail, transport and food service customers. The company focusses on launching products and expanding its geographic presence to enhance its industry presence. 
• Midea Group manufactures, markets and installs household electrical appliances such as water heaters, dishwashers, food waste disposal units and household sewing machines, compressors and components. 

Moreover, Midea group focusses on improving products, implementing the core strategy of “Comprehensive Digitalization and Comprehensive Intellectualization”. 

• The Frigel group is primarily engaged in manufacturing industrial and commercial blowers, industrial and commercial exhaust and ventilating fans, and attic fans and others. Moreover, the company believes in launching new products. For instance, Frigel introduces the industrial grade self-contained portable air-cooled chillers.

Competitive Landscape

The key players in the Europe and SEA Modular Chiller Market are 1st Cooling Inc., AEC Inc., Carrier Corporation, ClimaCool Corp., Croll Reynolds, Delta T Systems, Frigel, Gree Electric Appliances Inc., HIVER Aircon Pvt. Ltd, Mcquay Air-Conditioning Limited, Midea Group, Multistack, LLC, Trane Technologies plc., Haier Group Corp., Ware Mechanical, Inc., Ingersoll-Rand and LG Electronics Inc. among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip of emerging market. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

Segmentation Overview 

Europe and SEA Modular Chiller Market is segmented based on product type, demand, application and region. The industry trends in the modular chiller market are sub-divided into different categories in order to get a holistic view of the Europe and SEA marketplace. 

Following are the different segments of the Europe and SEA Modular Chiller Market:

By Product Type segment of the Europe and SEA Modular Chiller Market is sub-segmented into:

• Water-Cooled
  • <50kW
  • 51-100kW
  • 101-200kW
  • 201-300kW
  • >301kW
• Air-Cooled
  • <50kW
  • 51-100kW
  • 101-200kW
  • 201-300kW
  • >301kW

By Demand segment of the Europe and SEA Modular Chiller Market is sub-segmented into:

• New Market
• Replacement Market

By Application segment of the Europe and SEA Modular Chiller Market is sub-segmented into:

• Commercial
  • Data Centers
  • Corporate Offices
  • Public Buildings
  • Mercantile & Service
  • Healthcare
  • Others
• Industrial
  • Chemical
  • Food & Beverage
  • Metal Manufacturing & Machining
  • Medical & Pharmaceutical
  • Plastics
  • Others
• Residential
  • Multistorey
  • Bungalows/ Villas

By Region segment of the Europe and SEA Modular Chiller Market is sub-segmented into:

• Europe
  • The UK
  • Germany
  • France
  • Italy
  • Spain
  • Netherlands
  • Rest of Europe
• South East Asia
  • Indonesia
  • Thailand
  • Singapore
  • Malaysia
  • Philippines
  • Vietnam
  • Myanmar
  • Rest of SEA