Global Scroll and Absorption Chillers Market
Global Scroll and Absorption Chillers Market was valued US$ 6.2Bn in 2017, and expected to reach US$ 9.2Bn in 2026, at CAGR of 5.06% during forecast period.
Global Scroll and Absorption Chillers Market
Driving factor of the scroll and absorption chillers market is the increasing awareness regarding the need for energy conservation, so making initiatives to develop energy-efficient scroll and absorption chillers.
The rising electricity costs and shortfalls of electricity are the major factors that are driving the market. Numerous industries such as chemicals, printing, & plastic are prioritizing chiller optimization as their main goal due to the low maintenance costs, low electric energy use, eligibility for electric utility rebate, and so on. This factor is expected to remain moderately important during the forecast period.
The <100 KW-capacity-based scroll & absorption chillers to gain maximum traction over the forecast period.
There is a huge market for scroll & absorption chillers market of less than 100 KW capacity due to the wide scope of applications. These chillers are mainly scrolled chillers and are generally being used in small applications where a capacity range of up to 100 KW is required. The market is continuously rising for these chillers is as of their increasing usage in various small industries such as commercial complexes, refrigeration purposes, construction industry, and so on for fulfilling the cooling requirement.
Commercial vertical leading the scroll & absorption chillers market. The market for scroll & absorption chillers was led by the hospital application in 2017 because of the increasing medical & pharmaceutical industry in the region and the increased governmental investments in the healthcare sector. The market for the institutions and commercial buildings application is expected to grow at a healthy rate between 2018 and 2026.
Asia-Pacific region dominating the global scroll & absorption chillers market. Additionally, the increasing capacities of nuclear, geothermal, and solar power plants in Asia-Pacific are driving the demand for chillers in the region. Europe held the second-largest market share and is projected to grow at the highest CAGR of between 2018 and 2026. This growth is supported by the increasing commercial building & construction industry, resulting in increased deployments of heating, ventilating, air conditioning, and refrigeration systems.
Key players operating in the global scroll & absorption chillers market, 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.
Scope of the Global Scroll and Absorption Chillers Market
Global Scroll and Absorption Chillers Market by Product
• Scroll Chiller
• Absorption Chiller
Global Scroll and Absorption Chillers Market by Capacity
• 701 kW
Global Scroll and Absorption Chillers Market by Vertical
• Industrial
• Commercial
Global Scroll and Absorption Chillers Market by Region
• North America
• Asia Pacific
• Europe
• South America
• Middle East & Africa
Key players operating in the Global Scroll and Absorption Chillers Market
• 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