Global Scroll and Absorption Chillers Market, By Product (Scroll Chiller, Absorption Chiller), Capacity (Greater than 100 KW, Ranges between 101 KW to 300 KW and 301 KW to 700 KW, Less than 701 KW), Vertical (Commercial, Industrial, Others) – Industry Trends and Forecast to 2030.
Scroll and Absorption Chillers Market Analysis and Size
Mechanical equipment scroll and absorption chillers are utilized in numerous air conditioning applications and chilling processes. In commercial and industrial applications, energy is implemented for ventilation, heating, and cooling, with chillers accounting for half of the total energy consumed. As a result of the increased awareness of the importance of energy conservation, the demand for energy-efficient chiller products arose. The absorption chillers help to improve performance while also ensuring that high electricity bills are kept under control. Scroll and absorption chillers are being considered by industries such as printing, chemicals, and plastics to reduce their electric energy use, maintenance costs, and others.
Data Bridge Market Research analyses that the global scroll and absorption chillers market which was USD 7,588.16 million in 2022, would rocket up to USD 10,465.08 million by 2030, and is expected to undergo a CAGR of 4.10% during the forecast period. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
Scroll and Absorption Chillers Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015-2020)
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Quantitative Units
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Revenue in USD Million, Pricing in USD
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Segments Covered
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Product (Scroll Chiller, Absorption Chiller), Capacity (Greater than 100 KW, Ranges between 101 KW to 300 KW and 301 KW to 700 KW, Less than 701 KW), Vertical (Commercial, Industrial, Others)
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Countries Covered
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U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
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Market Players Covered
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DAIKIN INDUSTRIES, Ltd. (Japan), Johnson Controls (Ireland), Thermax Limited (India), Trane (Ireland), BROAD Group (China), Carrier (U.S.), Century Corporation (Japan), EAW Energieanlagenbau GmbH Westenfeld (Germany), Hitachi Appliances, Inc. (Tokyo), Midea Group (China), ROBUR S.p.A (U.S.), Shuangliang Group Co., Ltd. (China), Yazaki Energy Systems, Inc. (U.S.), Thermo Fisher Scientific Inc. (U.S.)
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Market Opportunities
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Market Definition
Scroll and absorption chillers differ from traditional air conditioning systems in that they do not utilize chemicals to cool the air. These chillers can provide high-precision temperature control, assisting in increasing comfort levels within buildings or residences with minimal power usage, making them more energy-efficient than other typical air conditioners on the market today. It accomplishes this without the use of any refrigerants that, when released into the atmosphere, destroy the ozone layer.
Global Scroll and Absorption Chillers Market Dynamics
Drivers
- Increasing Adoption Rate of Solar-Powered Absorption Chillers
In recent years, non-electricity driven equipment has seen a surge in demand from a variety of end-use industries, where primary sources could be used more efficiently. As a result, solar-powered absorption chillers have acquired substantial traction in the market for big chilling operations. These chillers provide optimal cooling performance while consuming less electricity, lowering the ever-increasing demand for electricity in the summer. As a result, the market is expected to grow rapidly. For instance, a CLFR solar collector field has been built to power a 1MW absorption chiller to provide air-conditioning for a 500-seat showpiece football stadium in Doha, Qatar, for the World Cup 2022, which is slated to be held there.
- Rising Deployment of Turbines and engines
To ensure efficient performance in turbines and engines in operation, an air conditioning device is required. The optimal temperature for turbine performance is around 1500°C. Maintaining this temperature, however, is difficult, particularly in Asia-Pacific and the Middle East, where average temperatures exceed 2500°C. As a result, absorption chillers are widely used to prevent the waste of heat from turbines, and they can also be used as a power absorption chiller with low fuel costs. Therefore, the market is likely to grow in the near future as the number of turbines combined with efficient heat rate requirements grows.
Furthermore, the rising awareness regarding the need for energy conservation will act as major factor influencing the growth of scroll and absorption chillers market. Also, surging electricity costs and shortfalls of electricity will drive market value growth.
Opportunities
- Growing Waste of Heat and High Operation Cost of Ships
Operating huge ships wastes a lot of heat, which raises the ship's operating costs and has a detrimental impact on the environment due to carbon dioxide emissions. The waste heat, on the other hand, may be used to power an absorption chiller, which could then be used to cool the vessels. As a result, market participants should expect considerable growth prospects in the near future from research and development in absorption chillers utilized in maritime applications. This is expected to boost the new market opportunities during the forecast period of 2023-2030.
- Collaborations and Emerging Market
Rise in strategic collaborations and emerging new markets will act as market drivers and further boost beneficial opportunities for the market’s growth rate. Along with this, the constant developments in technologies and emerging new markets will provide new market opportunities in coming years.
Restraints/ Challenges
- High Capital Investment Required for Installation and High Operational Cost
Absorption chillers have higher installation costs than typical electric and mechanical chillers, resulting in a longer payback period. Absorption chillers have greater operational costs than traditional chillers, which will limit market expansion in the near future. Furthermore, local equipment suppliers and facility workers are well-trained for absorption chiller maintenance, requiring end users to sign a contract with chiller manufacturers to ensure the equipment's efficiency. Such high operating and maintenance costs are projected to stymie the market’s growth.
- Lack of Skilled Professionals
On the other hand, the dearth of skilled professionals will pose major challenges to the growth of the scroll and absorption chillers market. In addition, the competition from the centrifugal chiller industry will act as a restrain and further impede the growth rate of market during the forecast period of 2023-2030.
This global scroll and absorption chillers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the global scroll and absorption chillers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
- In February 2023, Johnson Controls announced the launch of New York YLAA Air-Cooled Scroll Chiller to use R-454B refrigerant. R-454B refrigerant have some of the lowest global warming potential (GWP), making the YLAA more than compliant with upcoming Environmental Protection Agency (EPA) and U.S. Climate Alliance refrigerant regulations that phase out the use of hydrofluorocarbon (HFC) refrigerants like R-410A and take effect on 1 January 2024
Global Scroll and Absorption Chillers Market Scope
The global scroll and absorption chillers market is segmented on the basis of product, capacity, and vertical. The growth amongst these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Product
- Scroll Chiller
- Absorption Chiller
Capacity
- Greater than 100 KW
- 101 KW to 300 KW
- 301 KW to 700 KW
- Less Than 701 KW
Vertical
- Commercial
- Industrial
- Others
Global Scroll and Absorption Chillers Market Regional Analysis/Insights
The global scroll and absorption chillers market is analyzed and market size insights and trends are provided by country, product, capacity, and vertical as referenced above.
The countries covered in the scroll and absorption chillers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and rest of South America as part of South America
Asia-Pacific dominates the global scroll and absorption chillers market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period of 2023 to 2030. This is due to the surging number of geothermal, nuclear and solar power plants in this region.
Europe is expected to witness significant growth in the global scroll and absorption chillers market due to the increasing commercial and construction industry in this region.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Global Scroll and Absorption Chillers Market Share Analysis
The global scroll and absorption chillers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to global scroll and absorption chillers market.
Some of the major players operating in the global scroll and absorption chillers market are:
- DAIKIN INDUSTRIES, Ltd. (Japan)
- Johnson Controls (Ireland)
- Thermax Limited (India)
- Trane (Ireland)
- BROAD Group (China)
- Carrier (US)
- Century Corporation (Japan)
- EAW Energieanlagenbau GmbH Westenfeld (Germany)
- Hitachi Appliances, Inc. (Tokyo)
- Midea Group (China)
- ROBUR S.p.A (U.S.)
- Shuangliang Group Co., Ltd. (China)
- Yazaki Energy Systems, Inc. (U.S.)
- Thermo Fisher Scientific Inc. (U.S.)
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