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Modular Chillers Market Trends

  • Report ID: GMI12348
  • Published Date: Nov 2024
  • Report Format: PDF

Modular Chillers Market Trends

The modular chillers industry is experiencing a notable shift towards energy efficiency and sustainability, driven by increasing regulatory pressures and corporate commitments to reducing carbon footprints. Companies across various sectors are prioritizing environmentally friendly cooling solutions, leading to heightened demand for modular chillers that utilize eco-friendly refrigerants and advanced energy-saving technologies.
 

This trend aligns with global initiatives to combat climate change, pushing manufacturers to innovate and enhance the energy performance of their products. For instance, in October 2023 , ThermalWorks globally launched its waterless, modular cooling system for data centers, reducing energy usage by 73% and eliminating water consumption. Designed to handle high-density loads up to 200 kW per rack, the chiller efficiently operates in temperatures over 135°F. Featuring advanced compressors and optimization controls, it offers a sustainable solution for the growing demands of AI and GPU-based computing.
 

Another significant trend is the integration of smart technologies into modular chillers, with a focus on IoT and automation. These advancements enable real-time monitoring and predictive maintenance, allowing operators to optimize performance and minimize operational costs. As industries adopt smarter systems, the ability to remotely control and monitor chiller performance becomes increasingly critical, enhancing operational efficiency and reducing downtime. This technological integration not only improves the functionality of modular chillers but also aligns with the broader industry movement toward digital transformation.

Authors: Suraj Gujar , Saptadeep Das

Frequently Asked Questions (FAQ) :

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.

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.

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.

Modular Chillers Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 23
  • Tables & Figures: 280
  • Countries covered: 18
  • Pages: 220
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