Absorption Chillers Market Bound To Grow At A Significant CAGR For The Assessment Period 2019-2025

Rising adoption of energy-efficient cooling processes and growing demand for improved efficiency are some of the significant factors supporting the growth of the global absorption chillers market. Players are anticipated to bank on the trend of increasing observance of strict government regulations related to energy conservation. Such regulations could help players to increase their sales. Lack of proper electricity infrastructure in emerging countries is predicted to increase the need for absorption chillers.

Large companies operating in the global absorption chillers market are foreseen to build new facilities to increase production and make their presence known in the industry. In January 2019, Indian engineering company involved in energy and environment, Thermax announced in its press release the opening of its new production unit in Andra Pradesh. Equipped with increased digitalization, the state-of-the-art manufacturing facility will produce a broad scope of vapor absorption machines.

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Players to Adopt Expansion of Manufacturing Facilities as Strategy for Gaining Growth

The report includes analysis of leading players such as MultiChill Technologies Inc., Yazaki Energy Systems Inc., Kirloskar Pneumatic Co. Ltd., Century, EAW Energieanlagenbau GmbH, LG, Shuangliang Eco-Energy Systems, Robur Corporation, Midea Group, Hitachi Appliances, Carrier Corporation, Broad Air Conditioning, Trane, Thermax Ltd., Johnson Controls, and Daikin Industries.

By Product Type

● Single Stage

● Double Stage

By Application

● Domestic

● Commercial

● Industrial

Among types of products, double stage absorption chillers are projected to account for a substantial share of the global market due to their higher COP. They also have a greater efficiency level compared to single stage absorption chillers. The analysts have also provided deep analysis of important applications, viz. industrial, commercial, and domestic. The industrial sector is foreseen to create considerable demand for absorption chillers as the adoption of ‘less input-more output’ technology increases.

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This release was published on openPR.