Absorption Chillers Market Is Anticipated To Nearly Double By 2032, According To Future Market Insights

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.

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Absorption Chillers Market: Drivers and RestrainsThe 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: 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.

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Absorption Chillers Market: Key Players

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 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 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)
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.

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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.

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
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

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