Modular Chillers Market Size To Reach $5,280.8 Million By 2033

Modular Chillers Market Growth & Trends

The global modular chillers market size is expected to reach USD 5,280.8 million by 2033, registering a CAGR of 5.5% from 2025 to 2033, according to a new report by Grand View Research, Inc. The growing demand for energy-efficient buildings on account of the rising awareness regarding environmental degradation coupled with stringent government regulations is anticipated to fuel the product demand over the forecast period.

Increasing construction spending in emerging countries, such as China, India, and Brazil, on account of strong economic and industrial development coupled with population expansion, is anticipated to drive the product demand over the forecast period. In addition, rising awareness about energy-efficient systems and the harmful impacts of burning fossil fuels is expected to further boost the market growth over the coming years.

Several initiatives promoting and encouraging energy-efficiency have been adopted and implemented in Europe. For instance, the European Commission’s initiative “The European Portal for Energy Efficiency of Buildings” allows exploration and sharing of knowledge and optimal practices offering energy solutions for buildings.

According to the International Trade Administration (ITA), the construction industry in Canada was valued at USD 126.3 billion in 2018 and accounted for over 7% of the country’s GDP. The presence of stringent government regulations in Toronto and Vancouver for cooling the overheated markets in the residential sector is expected to drive the product demand over the coming years.

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Modular Chillers Market Report Highlights

• Water-cooled dominated the modular chillers market in 2024, with the highest revenue share of 58.0% due to its higher energy efficiency and suitability for large-scale commercial and industrial applications.

• The commercial segment dominated the modular chillers industry in 2024, with the largest revenue share of 44.9%, driven by increasing demand from office buildings, shopping malls, hotels, and hospitals.

• Asia Pacific dominated the modular chillers industry with a revenue share of 45.9% in 2024, due to urbanization, industrial expansion, and increasing demand for energy-efficient cooling solutions.

Modular Chillers Market Segmentation

Grand View Research has segmented the global modular chillers market based on product, application, and region:

Modular Chillers Modular Capacity Outlook (Revenue, USD Million, 2021 - 2033)

• Water-Cooled

  • <50kW

  • 51-100kW

  • 101-200kW

  • 201-300kW

  • >301kW

• Air-Cooled

  • <50kW

  • 51-100kW

  • 101-200kW

  • 201-300kW

  • >301kW

Modular Chillers Application Outlook (Revenue, USD Million, 2021 - 2033)

• Commercial

  • Corporate Offices

  • Data Centers

  • Public Buildings

  • Mercantile & Service

  • Healthcare

  • Others

• Residential

• Industrial

  • Chemical

  • Food & Beverage

  • Metal Manufacturing & Machining

  • Medical & Pharmaceutical

  • Plastics

  • Others

Modular Chillers Regional Outlook (Revenue, USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Russia

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Thailand

  • Indonesia

  • Malaysia

• Central & South America

  • Brazil

  • Argentina

• Middle East and Africa

  • Saudi Arabia

  • UAE

  • South Africa

List of Key Players of Modular Chillers Market

• Trane Technologies plc

• GREE ELECTRIC APPLIANCES, INC.

• Carrier

• FRIGEL FIRENZE S.p.A.

• Midea Group

• Multistack International Limited.

• Daikin

• Johnson Controls

• Haier Group

• Mitsubishi Electric Corporation

• Nanjing TICA climate solutions co., ltd

• Arctic Chiller Group

• LG Electronics

• Aermec S.p.A.

• Smardt