Scroll & Absorption Chillers Market Size, Share & Trends 2030

Scroll & Absorption Chillers Market

With a projected compound annual growth rate (CAGR) of around 4.68% between 2023 and 2030, the size of the global market for scroll and absorption chillers is expected to increase from its estimated value of USD 7.12 billion in 2022 to USD 10.27 billion by 2030.

The study examines the factors that will propel the global market for scroll and absorption chillers, as well as the obstacles and difficulties that will affect demand over the forecast period. The research also looks at new developments in the Scroll & Absorption Chillers market.

                                    Scroll & Absorption Chillers Market

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Global Scroll & Absorption Chillers Market: Overview

Chillers are mechanical equipment used in a variety of cooling processes and air conditioning applications. They work through absorption and scroll. Half of the energy used in commercial and industrial applications is consumed by chillers, which are used for heating, cooling, and ventilation. Consequently, the increased awareness of the need to conserve energy led to the necessity for energy-efficient chiller goods. The absorption chillers ensure that high power costs are controlled while also improving performance. Scroll and absorption chillers are being considered by the printing, chemical, and plastic industries as a way to reduce their consumption of electric energy and associated maintenance costs.

Key Insights

  • As per the analysis shared by our research analyst, the global Scroll & Absorption Chillers market is estimated to grow annually at a CAGR of around 4.68% over the forecast period (2023-2030).
  • In terms of revenue, the global Scroll & Absorption Chillers market size was valued at around USD 7.12 billion in 2022 and is projected to reach USD 10.27 billion, by 2030.
  • Based on the Type, the Steam Absorption Chillers are expected to capture the largest market share over the forecast period.
  • Based on the application, the Industrial segment is expected to capture the largest market share during the forecast period.
  • Based on region, Asia-Pacific region is expected to dominate the market over the forecast period.

 

Global Scroll & Absorption Chillers Market: Growth Factors

Growing awareness of the need for energy conservation and the initiatives taken to produce energy-efficient scroll and absorption chillers are two of the main factors propelling the market for these devices. The main reasons driving the market are rising electricity prices and electricity shortages. In commercial and residential buildings, 12 to 15% less electricity can be used by utilizing the proper scroll and absorption chillers. Because of the government’s measures to strengthen the health sector and the growth of the pharmaceutical and medical industries, there was a significant demand for scroll and absorption chillers in the hospital application. The market is driven by an increase in the use of scroll chillers in low capacity commercial verticals.

Global Scroll & Absorption Chillers Market: Segmentation Analysis

The product, capacity, vertical, and regional segments of the worldwide scroll and absorption market are used to group the market. The scroll and absorption market is split into two segments: scroll chillers and absorption chillers, based on the kind of product. The global market is divided into three segments based on capacity: greater than 100 KW, 101 KW to 300 KW, 301 KW to 700 KW, and less than 701 KW. Commercial, industrial, and other verticals are among those that use scroll and absorption chillers. The global market is further subdivided into North America, Europe, Asia-Pacific, and the Rest of the World.

Global Scroll & Absorption Chillers Market: Regional Analysis

In terms of market share for scroll and absorption chillers, the Asia-Pacific area held the lead. The need for chillers in the market is being driven by the growing number of geothermal, nuclear, and solar power facilities in the Asia Pacific region. Europe was ranked second in the market and is projected to rise in the years to come. The expanding business and construction industries are the cause of this increase.

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Global Scroll & Absorption Chillers Market: Competitive Players

The major companies in the scroll and absorption market include

  1. Johnson Controls Inc.
  2. Trane Inc.
  3. Broad Air Conditioning Co. Ltd.
  4. Yazaki Energy Systems Inc.
  5. Hitachi Appliances Inc.
  6. Robur Group
  7. Daikin Industries Ltd.
  8. Thermax Ltd.
  9. Carrier Corporation
  10. Century Corporation
  11. Shuangliang Eco-Energy Systems Co. Ltd.
  12. MIDEA Group Co. Ltd.

 

Recent Development:

In July 2018, A new generation of high-efficiency air-cooled scroll chillers from Daikin featured the R-32 refrigerant as the company’s first use of it. At nominal circumstances, the cooling capacity of the new EWATB air-cooled chiller range will vary anywhere from 80 to 700 kW, making it suitable for use in cooling-only applications as well as those including heat recovery.

Global Scroll & Absorption Chillers Market: Segments

By Type

  • Steam Absorption Chillers
  • Hot Water Absorption Chillers
  • Direct Fired Absorption Chillers

 

By Design Technology

  • Single-Effect Chillers
  • Double-Effect Chillers
  • Triple-Effect Chillers

 

By Capacity

  • Greater than 100 KW
  • Ranges between 101 KW to 300 KW and 301 KW to 700 KW
  • Less than 701 KW

 

By Vertical

  • Commercial
  • Institutions
  • Hospitals
  • Commercial Buildings
  • Industrial
  • Plastics
  • Chemicals and Petrochemicals
  • Food and Beverages
  • Geothermal Appliances
  • Pharma
  • Textile
  • Others
  • Energy and Power
  • Paper and Packaging

 

Global Scroll & Absorption Chillers Market: Regional Segment Analysis

  • North AmericaU.S.
  • EuropeUKFranceGermany
  • Asia PacificChinaJapanIndia
  • Latin AmericaBrazil
  • The Middle East and Africa

 

What Report Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

 

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