Scroll & Absorption Chillers Market Trend, Share, Growth, Trends, Size Analysis and Forecast 2030

What is Scroll & Absorption Chillers Market Size?

The global Scroll & Absorption Chillers market size was worth around USD 7.12 B in 2022 and is predicted to grow to around USD 10.27 B by 2030 with a compound annual growth rate (CAGR) of roughly 4.68% between 2023 and 2030. The report analyzes the global Scroll & Absorption Chillers market drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the Scroll & Absorption Chillers industry.

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Global Scroll & Absorption Chillers Market: Overview

In various air conditioning applications and cooling processes a mechanical equipment scroll and absorption, chillers are used. The energy in the commercial and industrial applications is used for ventilation, heating, and cooling of which the chillers consume half of the available energy. Thus, there came the requirement of energy-efficient chiller products owing to the growing awareness for the need of conserving energy. The absorption chillers help to perform better and ensure to control the high electricity costs. Industries such as printing, chemicals, and plastic are considering the use of scroll and absorption chillers to lower their electric energy use, maintenance cost and so on.

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.

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Global Scroll & Absorption Chillers Market: Growth Factors

One of the major reasons that are driving the scroll and absorption chillers market is the growing awareness regarding the need for energy conservation, thus making initiatives to develop energy-efficient scroll and absorption chillers. The increasing electricity costs and shortfalls of electricity are the major factors that are driving the market. By using appropriate scroll and absorption chillers, approximately 12 to 15% of electricity can be reduced in commercial and residential complexes. The demand for scroll and absorption chillers was high in the hospital application owing to the growing pharmaceutical and medical industry and the initiatives taken by the government to improve their health sector. The usage of scroll chillers has increased in low capacity commercial verticals, thus driving the demand of the market.

Scroll & Absorption Chillers Market: Report Scope

Global Scroll & Absorption Chillers Market: Segmentation Analysis

The global scroll and absorption market is segmented on the basis of the product, capacity, vertical and regions. Based on the product type, the scroll and absorption market is divided into two categories: scroll chillers and absorption chillers. On the basis of the capacity, the global market is segregated into greater than 100 KW, ranges between 101 KW to 300 KW and 301 KW to 700 KW and less than 701 KW. The different verticals where the scroll and absorption chillers used are commercial, industrial and others. The global market is further diversified into different regions such as Asia-Pacific, North America, Europe and Rest of the World.

Global Scroll & Absorption Chillers Market: Regional Analysis

The Asia-Pacific region had the largest market share of the scroll and absorption chillers market. The Asia Pacific region has an increasing number of geothermal, nuclear and solar power plants, which is driving the demand of chillers in the market. Europe held the second position in the market and is expected to grow in the coming years. This growth is owing to the rising commercial and constructional industry.

Global Scroll & Absorption Chillers Market: Competitive Players

The major companies in the scroll and absorption market include

• Johnson Controls Inc.
• Trane Inc.
• Broad Air Conditioning Co. Ltd.
• Yazaki Energy Systems Inc.
• Hitachi Appliances Inc.
• Robur Group
• Daikin Industries Ltd.
• Thermax Ltd.
• Carrier Corporation
• Century Corporation
• Shuangliang Eco-Energy Systems Co. Ltd.
• 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 America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• 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.