Scroll and Absorption Chillers Market

Global Scroll and Absorption Chillers Market Size (2024 to 2029)

The size of the global Scroll and Absorption Chillers Market is expected to be worth USD 7.9 Billion in 2024 and USD 9.6 Billion by 2029, growing at a CAGR of 4.1% from 2024 to 2029.

Scrolls and absorption chillers are the two cooling systems used in air conditioning and refrigeration. Scroll chillers are vapor compression refrigeration systems with mechanical compressor that circulates refrigerant using scroll-shaped components. It is energy-efficient, low-maintenance, and used in medium-sized commercial and industrial applications. Whereas absorption chillers use heat energy and utilize a solution of water and lithium bromide or ammonia as the refrigerant-absorbent pair. Absorption chillers have a different cycle, including evaporation, absorption, desorption, condensation, expansion, and an evaporator. They can use various heat sources like natural gas or solar thermal energy. It also operates quietly and is commonly installed in large buildings and industrial facilities. These scrolls and chillers are used in areas and industries where the electricity is poor, especially in underdeveloped and rural areas.

Global Scroll And Absorption Chillers Market Drivers:

One of the major driving factors that is increasing the scroll and absorption chillers market share is the characteristic feature of energy efficiency. As there is growing awareness of sustainability, many industries and buildings are adopting more eco-friendly cooling solutions. Since scrolls and absorption chillers consume less energy as compared to traditional chillers. Scroll chillers use compressors that have lower maintenance requirements and offer higher energy efficiency compared to traditional compressors. Scroll compressors consume less energy to maintain the desired temperature to keep up with the desired temperature, resulting in energy savings. At the same time, the absorption chillers work by using a heat source, hence which causes them to work with minimal electricity consumption making them eco-friendly. Therefore, adoption of scroll and absorption chillers, consumers can reduce their carbon footprint and reduce greenhouse emissions. And it leads to achieving sustainability.

Also, the growing urbanization and industrialization around the globe have driven the demand for cooling solutions. As cities are developing and commercial buildings are on the rise, there is an increasing construction activity, also due to increasing manufacturing facilities; all these require effective cooling systems to maintain the environment. Therefore, scrolls and chillers are the most favored option for cooling buildings, factories, and commercial buildings due to their energy efficiency feature; therefore, as industrialization and urbanization continue to grow and expand, there will be an increase in the demand for scrolls and absorption chillers market.

In addition, governments are creating awareness of the importance of sustainability and energy efficiency to protect the environment from greenhouse gases. To combat the increasing greenhouse gas emissions, the governments have implemented various incentives and funding to businesses to encourage manufacturers to adopt scrolls and absorption chillers, and this led to an increase in the scroll and absorption chillers market growth.

The scroll and absorption chillers market has significant opportunities in ships, has operating huge ships wastes a lot of heat, leads to an increase in the operating costs, and also impacts the environment due to the production of carbon dioxide. And therefore, absorption chillers have opportunities in maritime applications. Moreover, a rise in strategic collaborations and emerging new markets will act as market drivers and further boost opportunities for the scroll and absorption chillers market growth rate. Along with this, the constant developments in technologies will create new opportunities for the market in the forecasted period.

Global Scroll and Absorption Chillers Market Restraints:

One of the major restraint factors that are limiting its growth is the high cost involved in the installation, scrolls, and absorption chillers consist of advanced technology, which offers energy efficiency and environmental benefits, but this advanced technology requires an initial investment, which hinders market expansion, especially for cost-conscious buyers, the initial cost limits the demand for scroll and absorption chillers market. Scroll and chillers are made of innovative engineering, which requires high manufacturing costs, which causes the price of this system to be high, which can be a major deterrent for businesses whose initial investment and budget are low.

Another factor that limits the market demand is the maintenance and servicing cost, as this system has components that require higher maintenance costs than the conventional; also, the limited availability of skilled and trained professionals further causes restrictions for the demand.

Impact of COVID-19 on the Scroll and absorption chillers market:

The outbreak of COVID-19 had a huge impact on the market share of the scroll and absorption chillers market. Due to the implementation of the lockdown and restriction, construction activities were halted due to the unavailability of laborers, and disruption in the supply chain further led to the decline in the demand for scrolls and absorption chillers.

Also, the impact of the pandemic caused economic disruptions, which led to delays in construction projects, and many developers and businesses halted their projects and expansion plans. As a result, demand for cooling systems such as scrolls and absorption chillers for new buildings was significantly impacted. The hospitality industry was impacted as travel restrictions and lockdowns limited tourism, resulting in delayed hotel construction that required cooling systems. However, many consumers, due to loss of job and income instability, caused homeowners to the limitations in purchasing power and led to a decline in the scroll and absorption chillers market size. Thus, the pandemic negatively impacted the market share of the scroll and absorption chillers market.

REPORT COVERAGE:

This research report on the global scroll and absorption chillers market has been segmented and sub-segmented based on product, capacity, vertical, and region.

Global Scroll and Absorption Chillers Market - By Product:

• Scroll Chiller
• Absorption Chiller

Based on the product, the scroll chillers dominated the share as they are widely used in various applications due to their energy efficiency and lower maintenance requirements compared to absorption chillers. They have gained popularity in commercial buildings, industrial processes, and air conditioning systems. Whereas, Absorption chillers have a smaller market share compared to scroll chillers.

Global Scroll and Absorption Chillers Market - By Capacity:

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

The range between 101 KW to 300 KW has the highest market share; this dominance is due to its wide usage in mid-sized commercial buildings, shopping malls, hospitals, office complexes, and industrial facilities. Whereas 301KW to 700 and greater than 100 KW are mostly used in large industrial facilities, and less than 701 KW is preferred for residential and commercial buildings.

Global Scroll and Absorption Chillers Market - By Vertical:

• Commercial
• Industrial

The commercial segments hold the highest market. This dominance is due to the use of scrolls and absorption chillers in office buildings, hotels, shopping malls, hospitals, educational institutions, and other public facilities to keep the environment pleasant. Whereas the industrial uses scrolls and absorption chillers in manufacturing, petrochemicals, pharmaceuticals, food, and beverage processing industries.

Global Scroll and Absorption Chillers Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America 
• Middle East and Africa

Based on the region, the Asia Pacific region dominates the scroll and absorption chillers market. This dominance was due to the increasing infrastructure and commercial buildings; because of a growing economy caused a surge in industrialization, which contributed to the demand for scrolls and absorption chillers. Europe accounted for the fastest-growing market, as the travel industry is growing exponentially. Also, the rise in commercial buildings contributed to the market share. North America has significant growth in the market as the pharmaceutical industries are flourishing. The Middle East and Africa show steady growth over the forecasted period in the scroll and absorption chillers market.

KEY MARKET PLAYERS:

Major Key Players 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 (US), Shuangliang Group Co., Ltd. (China), Yazaki Energy Systems, Inc. (US), Thermo Fisher Scientific Inc. (US), and others.