Absorption Chillers Market

Absorption Chillers Market: Global Industry Analysis and Opportunity Assessment 2016-2026

  • Ongoing
  • August 2020
  • REP-GB-1584
Absorption Chillers Market

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This Absorption Chillers market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Absorption Chillers market.

Absorption chillers are cooling units that operate on heat instead of mechanical power. Absorption chillers consume a small amount of fuel as compared to other refrigeration devices; however, their cooling performance is also significantly lower. Absorption chillers use waste heat energy -- a by-product in gas turbines, commercial centre, and hotels for refrigeration – for cooling purposes. Owing to their low operational costs, they are widely used in educational institutes, hospitals, and mini vans.

Absorption Chillers Market: Drivers and Restrains

Market Growth Analysis

Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.

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The global absorption chillers market is expected to expand at a moderate CAGR during the forecast period 2016-2026. Absorption chillers offer numerous benefits over conventional chillers, including low noise levels, improved efficiency, and lower operational & maintenance costs. These factors make absorption chillers an appealing option in the refrigeration sector. Absorption chillers are environmentally-friendly as compared to conventional refrigerants, owing to lower emissions of gas and other pollutants during their operation.

A major challenge to widespread adoption of absorption chillers is the high risk of deterioration & damage to the entire unit in case of air leakage from the main panel. High cost of absorption chillers is another constraint that’s impeding adoption, especially in developing countries.

Absorption Chillers Market: Segmentation

The global absorption chillers market is segmented on the basis of source of energy, refrigerant, packaging of chillers, application, and end-use sector.

Absorption Chillers Market: Region Wise Outlook

Region-wise, the global absorption chillers market can be segmented into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific excluding Japan (APEJ), Japan and Middle East and Africa. North America is a highly lucrative region for absorption chillers, owing to strong adoption from the region’s food processing and petroleum industries.

In Europe, growth of the absorption chillers market is anticipated to be driven by steady demand from the frozen food sector. Asia Pacific and Middle East & Africa (MEA) are expected to offer substantial growth opportunities to absorption chillers manufacturers, owing to overall economic growth in the region. Decades of strong economic growth has resulted in the emergence of a burgeoning middle class in APEJ and MEA, which is ramping up demand across a broad spectrum of end-use industries. Steady growth in the region’s food processing sector, especially frozen food, is expected to ramp up demand during the forecast period.

Absorption Chillers Market: Key Players

The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geography, technology and applications.

The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.

NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.

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On the basis of source of energy, the absorption chillers market can be segmented into:-

  • Direct Fired
  • Steam Heated
  • Hot-Water Heated
  • Gaseous Fuels

On the basis of refrigerant, the absorption chillers market can be segmented into:-

  • Ammonia
  • Lithium Bromide (Brine)

On the basis of packaging of chillers, the absorption chillers market can be segmented as follows:-

  • Modular Chillers
  • Packaged Chillers

On the basis of applications, the absorption chillers market can be segmented into:-

  • Food Storage
  • Air Conditioning

On the basis of end use sector, the absorption chillers market can be segmented into:-

  • Industrial
  • Commercial
  • Residential

Some of the key players in the global absorption chillers market are as follows:

  • Thermax Ltd
  • Helioclim
  • MultiChill Technologies Inc
  • Kirloskar Pneumatic Company Ltd
  • World Energy Absorption Chillers Europe Ltd
  • LG Air Conditioning (Shandong) Co., Ltd.
  • Hitachi Appliances Inc.
  • EAW Energieanlagenbau GmbH
  • Carrier Corporation
  • Century Corporation
  • Yazaki Energy Systems Inc.

The report covers exhaustive analysis on:

  • Market Segments
  • Market Dynamics
  • Market Size
  • Supply & Demand
  • Current Trends/Issues/Challenges
  • Competition & Companies involved
  • Technology
  • Value Chain

Regional analysis includes

  • North America (U.S., Canada)
  • Latin America (Mexico. Brazil)
  • Western Europe (Germany, Italy, France, U.K, Spain, Nordic countries, Belgium, Netherlands, Luxembourg)
  • Eastern Europe (Poland, Russia)
  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)
  • Japan
  • Middle East and Africa (GCC, S. Africa, N. Africa)

Report Highlights:

  • Detailed overview of parent market
  • Changing market dynamics in the industry
  • In-depth market segmentation
  • Historical, current and projected market size in terms of volume and value
  • Recent industry trends and developments
  • Competitive landscape
  • Strategies of key players and products offered
  • Potential and niche segments, geographical regions exhibiting promising growth
  • A neutral perspective on market performance
  • Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions

What research methodology is used to develop the Absorption Chillers Market report?
  • FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
  • These approaches include accumulating data from both primary and secondary sources
  • Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Absorption Chillers Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
  • Analysis of several middle market stakeholders for country-wise data

In addition to up-to-date market figures and customized of the Absorption Chillers Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.

  • Most of the competitors are segregated according to their market share in 'Tier' wise statures.
  • Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.
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Harish Tiwari

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Akshay Godge

Client Partner - Global Business Development

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