ShareGlobal scroll and absorption chillers market perspectives
According to a new report from MarketsandMarkets, the global scroll & absorption chillers market is expected to grow from USD 5.61 Billion in 2015 to USD 7.13 Billion by 2022, at a CAGR of 4.1% between 2016 and 2022.
According to the a new report from MarketsandMarkets, the global scroll & absorption chillers market is expected to grow from USD 5.61 Billion in 2015 to USD 7.13 Billion by 2022, at a CAGR of 4.1% between 2016 and 2022.
This market is driven by factors such as the growing awareness about energy-efficient products, deployment of scroll & absorption chillers in a wide range of application areas, and increased electricity costs.
The scroll chillers held the largest market share in 2015 and the same trend is expected to continue during the forecast period. The market is expected to grow at the highest rate between 2016 and 2022. The growing demand for large absorption chillers in the industrial vertical in developing countries such as China, Japan, and India is expected to drive the market in the next six years.
Scroll & absorption chillers offer cost-effective services at low costs for applications in institutions, hospitals, and commercial buildings. The high growth rate of the scroll & absorption chillers market in Asia-Pacific is mainly attributed to the increasing demand from emerging economies such as India and China as well as the growing construction industry, especially for the commercial vertical, in the developing countries in Asia-Pacific. In the industrial verticals, scroll & absorption chillers are used for cooling the machinery, plant, and the environment to better support the system performance. Furthermore, they incur low operating costs. Scroll chillers use scroll compressors, which are less expensive than other chillers and cover large application areas. Absorption chillers are used to cool water by using the energy provided by a heat source. These chillers are used in various industrial verticals. The applications of these chillers include plastic, chemical & petroleum, food & beverages, geothermal appliances, pharma, and textile.
The Asia-Pacific region is expected to hold the largest share of the scroll & absorption chillers market during the forecast period owing to the increasing capacities of nuclear, geothermal, and solar power plants in Asia-Pacific, which drive the demand for chillers in the region.
Europe held the second-largest market share in 2015 and is expected to grow at the highest CAGR between 2016 and 2022. This growth is supported by the growing commercial building & construction industry, resulting in increased deployments of HVACR systems.
One of the key challenges faced by the scroll & absorption chillers market is the regulations pertaining to fluorinated greenhouse gases.
This market is driven by factors such as the growing awareness about energy-efficient products, deployment of scroll & absorption chillers in a wide range of application areas, and increased electricity costs.
The scroll chillers held the largest market share in 2015 and the same trend is expected to continue during the forecast period. The market is expected to grow at the highest rate between 2016 and 2022. The growing demand for large absorption chillers in the industrial vertical in developing countries such as China, Japan, and India is expected to drive the market in the next six years.
Scroll & absorption chillers offer cost-effective services at low costs for applications in institutions, hospitals, and commercial buildings. The high growth rate of the scroll & absorption chillers market in Asia-Pacific is mainly attributed to the increasing demand from emerging economies such as India and China as well as the growing construction industry, especially for the commercial vertical, in the developing countries in Asia-Pacific. In the industrial verticals, scroll & absorption chillers are used for cooling the machinery, plant, and the environment to better support the system performance. Furthermore, they incur low operating costs. Scroll chillers use scroll compressors, which are less expensive than other chillers and cover large application areas. Absorption chillers are used to cool water by using the energy provided by a heat source. These chillers are used in various industrial verticals. The applications of these chillers include plastic, chemical & petroleum, food & beverages, geothermal appliances, pharma, and textile.
The Asia-Pacific region is expected to hold the largest share of the scroll & absorption chillers market during the forecast period owing to the increasing capacities of nuclear, geothermal, and solar power plants in Asia-Pacific, which drive the demand for chillers in the region.
Europe held the second-largest market share in 2015 and is expected to grow at the highest CAGR between 2016 and 2022. This growth is supported by the growing commercial building & construction industry, resulting in increased deployments of HVACR systems.
One of the key challenges faced by the scroll & absorption chillers market is the regulations pertaining to fluorinated greenhouse gases.