According to the research report titled ‘Global Scroll & Absorption Chillers Market Size study, by Product (Scroll Chiller & Absorption Chiller), Capacity (<100 kW, 101 kW-300 kW, 301 kW-700 kW, & >701 kW), Vertical (Commercial, Industrial, Others) and Regional Forecasts 2020-2027’, available with Market Study Report, global scroll & absorption chillers market was worth USD 6.53 billion in 2019 and is projected to record 4.20% CAGR to be remunerated at USD 9.08 billion by the year 2027.
 

Growing adoption of air conditioners in industrial and commercial buildings is primarily propelling global scroll & absorption chillers market growth.
 

As per the Japan Refrigeration and Air Conditioning Industry Association, the overall demand for AC in North America rose from 15.31 million units in 2017 to 15.58 million units in 2018. Herein, the United States accounted for bulk demand with 14.85 million units sold in 2017.
 

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For those unfamiliar, a chiller system uses a vapor-compression and adsorption refrigeration cycle to extract heat from a liquid. Scroll and absorption chillers are employed in a number of air conditioning and cooling applications. Increasing emphasis on energy conservation is further augmenting worldwide scroll & absorption chillers industry share.
 

Such chillers are commonly found in places like commercial buildings, institutions, and hospitals. Growing pharma and medical sectors, resulting in rising hospital applications for improving the healthcare environment is boosting the demand for chillers.
 

Moreover, over 12 to 15% of energy can be saved by using the right scroll and absorption chillers in commercial and residential complexes. Rising energy prices and power shortages act as a driving force for the industry expansion.
 

Despite the favorable business scenario, hefty cost of installation is likely to hamper worldwide scroll & absorption chillers industry remuneration over the study period.
 

Considering the geographical ambit, Asia Pacific holds major portion of global scroll & absorption chillers market share presently, attributable to presence of large industrial and commercial institutions in the region. Besides, growing concerns regarding energy conservation is also creating lucrative prospects for the regional market outlook. 
 

Major contenders in worldwide scroll & absorption chillers industry sphere are Hitachi Appliances Inc., Shuangliang Eco-Energy Systems Co. Ltd., Yazaki Energy Systems Inc., Tokyo Century Corporation, Broad Air Conditioning Company Limited, Carrier Global Corporation, Trane Technologies Inc., Thermax Ltd., Johnson Controls International plc, and Daikin Industries Ltd.