Modular Chillers Testing Market Segments, Top Key Players, Drivers And Trends 2022

Precision Business Insights published a research report on "Modular Chillers Market: By Product Type (Air-Cooled Modular Chillers, Water-Cooled Modular Chillers, and High-Temperature Chillers), By Application (Education (K to 12 and Higher Education), Governance, Healthcare, Retail, Real Estate, Commercial, Transportation, and Others) - Global/Region/Country Forecast to 2028"

A modular chiller is a tiny packaged chiller that may be coupled with an HVAC provider and other chiller modules to form bigger equipment inside an HVAC system. The cooling capacity of the HVAC system is increased by using a modular chiller. It employs two or more modules to increase the cooling capacity of the system beyond that of a normal chiller. When the modules are used together, they can produce more capacity than a single normal chiller could. A modular chiller can help a commercial and industrial HVAC system in a variety of ways. They are, for example, smaller than typical chillers, making them ideal for retrofitting outdated heating and air systems.

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One of the major factors driving the modular chillers' overall growth is the increased demand for green buildings, which is converging with the burgeoning construction sector as a result of rising environmental concerns and a growing worldwide population. Furthermore, governments in a number of countries are encouraging the use of energy-saving technologies through incentives such as tax breaks and financial assistance, which is boosting the market growth. Apart from that, the increasing use of HVAC systems in hotels, markets, and airports is fueling the demand for modular chillers all over the world. In the car industry, these technologies are used to reduce heat buildup and improve fuel economy & passenger comfort. Automobile sales are increasing over the world, which is having a favorable impact on the market.

Based on the product type, the modular chillers market is fragmented into Air-Cooled Modular Chillers, Water-Cooled Modular Chillers, and High-Temperature Chillers. Based on the application, the modular chillers market is categorized into education, governance, residential, industrial, retail, transportation, real estate, commercial, and others.

Due to rising awareness about energy-efficient end-use products, rise in developing countries -, increasing rapid industrialization, and increased development of new buildings in the region, North America dominated the global revenue share and is required to keep its lead throughout the forecast period. In the residential building industry, new residential constructions have experienced more substantial output contractions, whereas renovation output has remained stable. Renovation accounts for more than half of all residential construction operations in Europe, and it has played a significant role in the construction sector's recovery since 2014.

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There are several industry players working in the Modular Chillers Testing Market, which include Mitsubishi Electric Corporation (Tokyo, Japan), Trane (Dublin, Ireland), Carrier Corporation (Florida, U.S.), LG Electronics (Seoul, Korea), Daikin Industries, Ltd. (Osaka, Japan), Nanjing tica climate solutions co., ltd (Nanjing, China), Midea Group (Guangdong, China)

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