Scroll And Absorption Chillers Market By Product Type (Air Cooled, Water Cooled), By Power Range (Less Than 50 kW, 50-200 kW, More Than 200 kW), By End User Industry (Chemicals and Petrochemicals, Food and Beverages, Medical, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032
The global scroll and absorption chillers market was valued at $4 billion in 2020, and is projected to reach $6 billion by 2032, growing at a CAGR of 3.3% from 2023 to 2032. The scroll and absorption chillers are type of refrigeration systems that use scroll compressors to create cold water or a chilled fluid. It works on the principle of compression and expansion of a refrigerant to absorb and release heat. An absorption scroll and absorption chillers uses heat energy (like steam, hot water, or gas) to drive the cooling process rather than relying solely on mechanical means like compression. It utilizes a combination of a refrigerant and an absorbent fluid to produce chilled water.
Absorption chillers use heat energy like steam, hot water, or gas to drive the cooling process rather than relying solely on mechanical means like compression. It utilizes a combination of a refrigerant and an absorbent fluid to produce chilled water.
Increase in demand for district cooling systems in many industries and high-rise buildings is expected to boost the scroll and absorption chillers market growth during the forecast period. District cooling is also known as centralized generation and distribution of cooling energy, which replaces traditional air-cooling systems as it is less expensive and more energy efficient. Moreover, developments in the tourism industry boost the construction of hotels and public infrastructure where scroll and absorption chillers can be used on a large scale. In addition, the growth of skyscrapers is expected to fuel the growth of scroll and absorption chillers market opportunity as these scroll and absorption chillers are widely used in cooling and ventilation of skyscrapers.
Increase in government spending on construction building activities requires more scroll and absorption chillers for temperature control. This, in turn, is anticipated to be opportunistic for the growth of the scroll and absorption chillers market. Rapid increase in urbanization and surge in disposable income of people are the factors anticipated to fuel the growth of the global scroll and absorption chillers market. Moreover, surge in industrial and residential construction activities with government initiatives such as “National Infrastructure Program”, and “Nation Program on Strategies for Sustainable Smart Cities”, and others, is expected to drive the growth of the market during the forecast period.
The scroll and absorption chillers market is segmented into product type, power range, end user, and region. By product type, it is bifurcated into air-cooled scroll and absorption chillers, and water-cooled scroll and absorption chillers. By power range, it is classified into less than 20 kW, 50-200 kW, and more than 200 kW. By end user, it is fragmented into chemicals & petrochemicals, food & beverages, medical, and others.
Region-wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, the UK, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Major players have adopted various strategies such as product launch and acquisition to sustain the competition and improve the operation portfolio. For instance, in March 2022, Carrier Global launched Aqua Force Vision 30KAV with puretec refrigerant. It is compact and is more energy-efficient and a better ultra-low GWP refrigerant alternative to other types of air-cooled and water-cooled chillere. It is ideal for industrial processing such as food manufacturing, pharmaceuticals, chemicals, plastics, metal industries, and applications requiring ultra-reliable cooling up to -12° C.
COMPETITION ANALYSISKey companies profiled in the scroll and absorption chillers market report include Carrier Global Corporation, Mitsubishi Electric Corporation, Daikin Industries Ltd, Dimplex Thermal Solutions, LG Electronics, Johnson Controls International Plc, Gree Electric Appliances Inc of Zhuhai, Midea Group Co. Ltd, Thermax Ltd., and Trane Technologies Plc.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the scroll and absorption chillers market analysis from 2020 to 2032 to identify the prevailing scroll and absorption chillers market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the scroll and absorption chillers market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global scroll and absorption chillers market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy End User IndustryChemicals and Petrochemicals
Food and Beverages
Medical
Others
By Product TypeAir Cooled
Water Cooled
By Power RangeLess Than 50 kW
50-200 kW
More Than 200 kW
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
Italy
UK
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market PlayersCarrier Global Corporation
Mitsubishi Electric
DAIKIN INDUSTRIES LTD.
LG Electronics
Johnson Controls
Thermax Limited
Trane Technologies plc
GREE ELECTRIC APPLIANCES, INC. OF ZHUHAI
Dimplex Thermal Solutions, LLC
Midea Group Co., Ltd.
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