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Absorption Chillers Market Set to Witness Huge Growth by 2020-2027

04-07-2020 08:18 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

Absorption Chillers Market

Absorption Chillers Market

Absorption chillers are refrigerators which deploy a heat source to generate enough energy required to drive the cooling process and are used mainly in food storage and air conditioning. Generally, absorption chillers use waste heat from turbine or water heater to generate energy. These chillers use a refrigerant with low boiling points such as ammonia and lithium bromide. There are three phases of the chilling cycle namely evaporation, absorption and regeneration. Absorption chillers are used in domestic, commercial as well as industrial sector. Absorption chillers drive the cooling process using several amount of energy sources such as gas, water or electricity. Owing to the low operational costs, absorption chillers are popularly used in educational institutions, hotels, hospitals, food trucks etc.

Currently, the world absorption chillers market is at a growing juncture due to increasing popularity of these cost effective cooling systems. Major drivers acting in the world absorption chillers market include various attributes such as inaudible and vibration free operation along with low maintenance and operational costs. Moreover, proliferating use of absorption chillers in solar cooling projects and increasing popularity in industrial sector especially petrochemical industry are expected to spur growth of the market over the forecast period. Also, since absorption chillers are environment friendly as compared to conventional vapor compressors owing to lesser emissions of pollutants and toxic gases, stringent government regulations on the use of absorption chillers is another key factor fueling the growth of the market. However, high initial costs required for the installation of absorption chillers is a key challenge pertaining in the world absorption chillers market. Furthermore, escalating electricity costs along with electricity shortages are some major factors hindering the growth of the market.

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Key Benefits For Stakeholders
o The report provides an extensive analysis of the current and emerging market trends and opportunities in the world absorption chillers market.
o The report necessitates the detailed qualitative and quantitative analysis of current market estimations for the forecast period, 2014 2022, which assists in evaluating the prevailing market opportunities.
o Region specific and country specific analysis of market value and volume are based on primary as well as secondary sources and are comprehensively analyzed in this report.
o Competitive intelligence (of leading manufacturers and suppliers of absorption chillers) helps in understanding the competitive scenario across the geographies.
o Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
o The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.

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Absorption Chillers Market Segments:

By Type of Refrigerant
o Ammonia
o Lithium Bromide

By Source of Energy
o Gas Fired
o Steam Heated
o Direct Fired
o Hot Water Heated

By Application
o Food Storage
o Air Conditioning

By End-use Industry
o Domestic
o Commercial
o Industrial

By Geography
o North America
o Europe
o Asia-Pacific
o LAMEA

Key players pertaining in the market include
o Carrier Corporation
o Thermax Ltd
o Kirloskar Pneumatic Co. Ltd
o Century Corporation
o EAW Energieanlagenbau GmbH
o Hitachi Appliances Inc
o Yazaki Energy Systems Inc
o MultiChill Technologies Inc

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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