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Global Absorption Chillers Market Report 2021: Market to Reach $910.7 Million by 2027 - Environmental Concerns Drive Business Case for Absorption Chillers

·4-min read

Dublin, Aug. 26, 2021 (GLOBE NEWSWIRE) -- The "Absorption Chillers - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Absorption Chillers Market to Reach $910.7 Million by 2027

Amid the COVID-19 crisis, the global market for Absorption Chillers estimated at US$757.2 Million in the year 2020, is projected to reach a revised size of US$910.7 Million by 2027, growing at a CAGR of 2.7% over the period 2020-2027.

The U.S. Market is Estimated at $204.7 Million, While China is Forecast to Grow at 5% CAGR

The Absorption Chillers market in the U.S. is estimated at US$204.7 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$183 Million by the year 2027 trailing a CAGR of 5% over the analysis period 2020 to 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 1.2% CAGR.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Absorption Chillers: Providing Eco-friendly and Useful Cooling through Re-use of Low Temperature Waste Energy

  • Recent Market Activity

  • The Urgent Need to Replace Compressor-Based Cooling Systems Drive Widespread Adoption

  • Absorption Chillers Superiority over Traditional Compression Chillers

  • Market Fortunes Intrinsically Tied to the Overall Chillers Market Dynamics

  • Global Market Outlook

  • Asia-Pacific Continues to Dominate the Global Market, Also Offers Significant Growth Opportunities

  • Continued Recovery in Global GDP & Manufacturing PMI Signals Optimistic Outlook

  • Despite Slowdown in Economic Growth, China Continues to Dominate Global Sales of Absorption Chillers

  • Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS (Total 29 Featured)

  • Broad Air Conditioning Co., Ltd. (China)

  • Carrier Corporation (USA)

  • Century Corporation (Korea)

  • CNIM Group (France)

  • Colibri-bv (The Netherlands)

  • EAW Energieanlagenbau GmbH (Germany)

  • Ebara Refrigeration Equipment & Systems Co., Ltd. (Japan)

  • Hitachi Appliances, Inc. (Japan)

  • Johnson Controls International Plc (Ireland)

  • LG Electronics (Korea)

  • Shuangliang Eco-Energy Systems Co., Ltd. (China)

  • Robur S.p.A. (Italy)

  • Thermax Limited (India)

  • Thermax Inc. (USA)

  • Trane Inc. (USA)

  • Worldenergy Absorption Chillers Europe Ltd. (Ireland/Korea)

  • Yazaki Energy Systems Inc. (USA)

3. MARKET TRENDS & DRIVERS

  • Focus on Achieving Energy Efficiencies Make Absorption Chillers the Perfect Candidate for CHP/Cogeneration Systems

  • Lower Operational Costs and Better Power Reliability Spur Demand for Absorption Chiller Based CHP in Data Centers

  • Growth Drivers

  • Growth Restraints

  • Steady Demand from Various End-use Applications Drive Healthy Market Growth for Absorption Chillers

  • Sophisticated Technologies for Absorption Chillers Improve Maintainability, Efficiency, and Flexibility

  • Absorption Chillers Provide a 'Green' Strategy for Various Industries

  • Growing Adoption of Trigeneration and Quattrogeneration Technologies Benefit Market Expansion

  • Lithium Bromide Absorption Chillers: Preferred Cooling Solution for Trigeneration Systems

  • Rise in Electricity Usage for Industrial, Commercial, and Residential Cooling Drives Demand for the Energy-Efficient Absorption Chillers

  • Environmental Concerns Drive Business Case for Absorption Chillers

  • Kyoto Protocol Implementation Augurs Well for Solar & Waste Heat Powered Chillers

  • Indirect Fired Absorption Chillers: The Best Bet for Environmental Cause

  • Favorable Government Initiatives & Regulatory Measures Lends Traction to Market Adoption

  • Surging Energy Consumption Propels Demand for Absorption Chillers

  • Focus on Reducing Energy Costs Bodes Well for Absorption Chillers

  • Urbanization: A Mega Trend Spurring Demand for Cooling Solutions

  • Industry Promotional & Marketing Efforts Benefit the Market

  • Demonstration Projects: A Launch Pad for Absorption Chillers

  • Training and Marketing Initiatives to Foster Awareness Levels

  • Other initiatives

  • Key Concerns & Challenges Hampering Market Prospects for Absorption Chillers

  • Stiff Competition from Popular Chiller Categories

  • Robust Increase in Sales of Centrifugal Chillers

  • Lack of Awareness

  • High Cost

  • Less Efficient in Comparison with Mechanical Chillers

  • Low Thermal Efficiency of Single Effect Systems

  • Requirement of Higher Pump Energy

  • Necessitates Larger Cooling Tower

  • Risks Due to Air Leaks

  • Crystallization

  • High Costs of Manufacturing

  • Other Concerns

  • INNOVATIONS & ADVANCEMENTS

  • Two-Step E/A Technology Enhance Performance of Single Effect and Double Effect Absorption Chillers

  • Smart Chillers: A Key Enabler of Connected Buildings

  • Biomass-Powered Thermochiller

  • Small Size Ammonia Water Absorption Chillers with Higher COP

  • Water-Cooled Technology Lowers Operational Costs

  • Triple-Effect Absorption Chillers: An Upcoming Technology

  • Modular Micro-Channel Chillers Provide Significant Energy Savings

  • Compact Absorption Chillers

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

For more information about this report visit https://www.researchandmarkets.com/r/8g75jl

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