Amid the COVID-19 crisis, the global market for Modular Chillers estimated at US$2.5 Billion in the year 2020, is projected to reach a revised size of US$3.7 Billion by 2027, growing at a CAGR of 5.7% over the period 2020-2027.
Water-Cooled, one of the segments analyzed in the report, is projected to record 5.3% CAGR and reach US$2.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Air-Cooled segment is readjusted to a revised 6.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $677.9 Million, While China is Forecast to Grow at 9.3% CAGR
The Modular Chillers market in the U.S. is estimated at US$677.9 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$807.5 Million by the year 2027 trailing a CAGR of 9.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 4.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 4% CAGR.