Modular Chillers Market: Emerging Trends and Growth Opportunities, 2028A Chapter by Markets InsightsThe global modular chillers market size was valued at USD 2.39 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 6.7% from 2021 to 2028.The global Modular Chillers Market size is expected to reach USD 4.02 billion by 2028 registering a CAGR of 6.7%, 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. Related Press Release @ Modular Chillers Market Report Modular Chillers Market Report Highlights
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StatsAuthorMarkets InsightsFelton, CAAboutAbout Us: Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer c.. more..Writing
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