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.
The report segments the market on the basis of type of refrigerant, source of energy, application, end-use industry and region. On the basis of type of refrigerant, the market is segmented into ammonia and lithium bromide. Considering source of energy, the market is segmented into steam heated, direct fired, hot water heated and gas fired. Among application, the market is segmented into air conditioning and food storage. On the basis of end-use industry, the market is segmented into domestic, industrial and commercial. Geographically, the world absorption chillers market is divided into North America, Europe, Asia-Pacific and LAMEA.
Key players pertaining in the market include Carrier Corporation, Thermax Ltd., Kirloskar Pneumatic Co. Ltd., Century Corporation, EAW Energieanlagenbau GmbH, Hitachi Appliances Inc., Yazaki Energy Systems Inc., MultiChill Technologies Inc. among others.
KEY BENEFITS FOR STAKEHOLDERS
- The report provides an extensive analysis of the current and emerging market trends and opportunities in the world absorption chillers market.
- 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.
- 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.
- Competitive intelligence (of leading manufacturers and suppliers of absorption chillers) helps in understanding the competitive scenario across the geographies.
- Extensive analysis of the market is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The report provides extensive qualitative insights on the potential and niche segments or regions exhibiting favorable growth.
ABSORPTION CHILLERS MARKET SEGMENTS:
By Type of Refrigerant
- Lithium Bromide
By Source of Energy
- Gas Fired
- Steam Heated
- Direct Fired
- Hot Water Heated
- Food Storage
- Air Conditioning
By End-use Industry
- North America