COVID-19 Impact analysis

• The COVID-19 pandemic ceased the production of various products in the scroll & absorption chiller industry, which is attributed to the global. This has hampered the growth of the market since 2020 and is likely to continue in the coming quarters.
• The major demand for scroll & absorption chillers was previously noticed in giant manufacturing countries including the U.S., Germany, the UK, India, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for scroll & absorption chillers.
• Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on their cash reserves. Scroll & absorption chiller manufacturers can afford declining sales only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis
• Scroll & absorption chiller manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. 
• Increase in vaccination drives and leniency in the COVID-19 restrictions resulted in reopening of various industrial and commercial facilities, which is a positive sign for the recovery of scroll & absorption chiller market.

Top Impacting Factors

Due to rise in global population and industrial growth, the number of commercial and industrial facilities around the world has increased significantly. Controlling the temperature of internal space of a building is vital in maintaining comfortable and hygienic working conditions. Thus, increase in number of commercial and industrial buildings creates a demand for scroll & absorption chillers. Furthermore, scroll & absorption chillers consume less electricity, which reduces their negative impact on the environment. In addition, scroll & absorption chillers of various capacities are available to increase their usability. However, high initial cost and bulky size of scroll & absorption chillers are major restraints on the growth of the market. Various government initiatives, such as “Make in India” launched by the Indian government and “Made in China 2025” launched by the Chinese government, are anticipated to boost the manufacturing sector in Asia-Pacific, thereby increasing the number of commercial and residential buildings. Therefore, it is a growth opportunity for the scroll and absorption chiller market.    

Market Trends

• Major players in the industry are launching new products to increase their presence in the market. For instance, in November 2019, Kaltra launched Lightstream Scroll II range of scroll chillers with a capacity ranging from 300 to 1,100kW. The chillers are energy efficient in both full load and part load operation. 
• In order to reduce operating costs of buildings, scroll and absorption chiller manufacturers offers energy efficient solutions. For instance, Daikin Applied offers its Trailblazer range of scroll chillers, which are up to 10% more efficient than similar products. 

Key Benefits of the Report

• This study presents the analytical depiction of the scroll & absorption chillers industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents information related to key drivers, restraints, opportunities, and market share of scroll & absorption chillers.
• A quantitative analysis highlights the scroll & absorption chillers market growth scenario from 2020 to 2030.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
• The report provides a detailed scroll & absorption chillers market analysis based on competitive intensity and how the competition will take shape in coming years.