Modular Chillers Market Size - By Type, Capacity, Application Analysis, Share, Growth Forecast, 2024 - 2032

Major players in the modular chillers industry include Johnson Controls, Carrier Corporation, Trane Technologies, Mitsubishi Electric, Daikin Industries, Ingersoll Rand, LG Electronics, Bosch Thermotechnology, Airedale International Air Conditioning Ltd., Multistack, Midea Group, Gree Electric Appliances, Dunham-Bush, Shuangliang Eco-Energy Systems Co., Ltd., and Smardt Chiller Group.

The U.S. modular chillers market dominated with a 77.8% share in 2023, propelled by rising urbanization, environmental regulations, and technological advancements in IoT-enabled controls.

The global market for modular chillers was reached USD 3.3 billion in 2023 and is estimated to grow at a 7.8% CAGR from 2024 to 2032, driven by increasing demand for energy efficiency.

The air-cooled modular chillers segment is expected to reach USD 3.9 billion by 2032, due to their ease of installation, low maintenance requirements, and cost-effectiveness.

The industrial segment is likely to register more than 9.9% CAGR between 2024 and 2032, led by the need for scalable and energy-efficient cooling solutions.