The market report is a historical overview and in-depth study on the current and future market. The report also offers a basic overview of the market size, share, leading players, top regions with major countries data, and a detailed segmentation description. It investigates and assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.
The major players in the Latin America Modular Chillers Market include:
- Multistack LLC.
- Frigel Firenze S.p.A.
- Midea
- Johnson Controls.
- Carrier
- Gree Electric Appliances Inc.
- Grupo TECSIR
- Trane Technologies
- LG Electronics
Key Drivers of the Latin America Modular Chillers Market:
The major factors propelling the Latin America modular chillers market growth include the rapid expansion of the construction industry in Mexico and Brazil, along with the introduction of mandatory energy-efficiency policies in the region. There has been an increase in commercial construction projects such as airports, railways, roads, and oil & gas pipeline projects. The favorable government initiatives and the recovering labor market are surging the construction sector, especially in Brazil's economies. Additionally, the growing installation of modular chillers at large commercial spaces such as hotels, shopping malls, and large corporate buildings, is a key factor that boosts the growth of the Latin America modular chillers market size. Moreover, the demand for modular chillers by industrial end-users is due to the increasing adoption in the chemistry and automotive sectors.
The COVID-19 pandemic has adversely impacted the Latin American Modular Chiller market. This has decreased the demand from commercial, industrial, and residential end-users. There has been a significant fall in the supplies of various components of modular chillers from China, which is hampering the modular chillers' production worldwide. The distributors are worried that the customers may not buy these products in the upcoming years owing to the fear of contracting the virus by using modular chillers in their offices, homes, and factories. However, the market is projected to bounce back in 2021 while growing at a higher rate from 2022 onwards.
Segmentation of the Latin America Modular Chillers Market:
The major regions covered in the report are North America, Europe, Asia-Pacific, and the Rest of the world. It also contains regional volume and revenue of the forecast period. Moreover, it helps the reader to understand accurate data on volume sales according to the consumption for the same years.
On the basis of type, this report displays the production, revenue, price, market share, and overall growth rate of each type, primarily split into:
- Water-Cooled
- Air-Cooled
On the basis of application, this report displays the production, revenue, price, market share, and overall growth rate of each application, primarily split into:
- Commercial
- Residential
- Industrial
On the basis of countries, this report displays the production, revenue, price, market share, and overall growth rate of each countries, primarily split into:
- Brazil
- Mexico
- El Salvador
- Venezuela
- Guatemala
- Rest of the Latin America
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