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Absorption Chillers - Global Market Trajectory & Analytics

  • ID: 1882071
  • Report
  • July 2020
  • Region: Global
  • 95 Pages
  • Global Industry Analysts, Inc
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Global Absorption Chillers Market to Reach US$910.7 Million by the Year 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. Accounts for Over 27% of Global Market Size in 2020, While China is Forecast to Grow at a 5% CAGR for the Period of 2020-2027

The Absorption Chillers market in the U. S. is estimated at US$204.7 Million in the year 2020. The country currently accounts for a 27.04% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$183 Million in the year 2027 trailing a CAGR of 5% through 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 while Rest of European market (as defined in the study) will reach US$183 Million by the year 2027.The publisher brings years of research experience to this 15th edition of our report. The 95-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others
  • Carrier Corporation
  • Century Corporation
  • CNIM Group
  • Colibri-bv
  • EAW Energieanlagenbau GmbH
  • Ebara Refrigeration Equipment & Systems Co., Ltd.
  • Hitachi Appliances Inc.
  • Johnson Controls
  • LG Electronics
  • Robur SpA
  • Shuangliang Eco-Energy Systems Co., Ltd.
  • Thermax Limited
  • Trane Inc.
  • Yazaki Energy Systems Inc.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Absorption Chillers: Providing Eco-friendly and Useful Cooling through Re-use of LowTemperature 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 ofAbsorption Chillers

Global Competitor Market Shares

Absorption Chillers Competitor Market Share Scenario Worldwide (in %): 2020 & 2029

Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

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 ChillerBased 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 Demandfor 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

TABLE 1: Absorption Chillers Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027
TABLE 2: Absorption Chillers Market Share Shift across Key Geographies Worldwide: 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

TABLE 3: United States Absorption Chillers Market Estimates and Projections in US$ Thousand: 2020 to 2027

CANADA

TABLE 4: Canadian Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2020 to 2027

JAPAN

TABLE 5: Japanese Market for Absorption Chillers: Annual Sales Estimates and Projections in US$ Thousand for the Period 2020-2027

CHINA

TABLE 6: Chinese Absorption Chillers Market Growth Prospects in US$ Thousand for the Period 2020-2027

EUROPE

TABLE 7: European Absorption Chillers Market Demand Scenario in US$ Thousand by Region/Country: 2018-2025
TABLE 8: European Absorption Chillers Market Share Shift by Region/Country: 2020 VS 2027

FRANCE

TABLE 9: Absorption Chillers Market in France: Estimates and Projections in US$ Thousand for the Period 2020-2027

GERMANY

TABLE 10: Absorption Chillers Market in Germany: Recent Past, Current and Future Analysis in US$ Thousand for the Period 2020-2027

ITALY

TABLE 11: Italian Absorption Chillers Market Growth Prospects in US$ Thousand for the Period 2020-2027

UNITED KINGDOM

TABLE 12: United Kingdom Market for Absorption Chillers: Annual Sales Estimates and Projections in US$ Thousand for the Period 2020-2027

SPAIN

TABLE 13: Spanish Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2020 to 2027

RUSSIA

TABLE 14: Russian Absorption Chillers Market Estimates and Projections in US$ Thousand: 2020 to 2027

REST OF EUROPE

TABLE 15: Rest of Europe Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2020-2027

ASIA-PACIFIC

TABLE 16: Asia-Pacific Absorption Chillers Market Estimates and Forecasts in US$ Thousand by Region/Country: 2020-2027
TABLE 17: Asia-Pacific Absorption Chillers Market Share Analysis by Region/Country:2020 VS 2027

AUSTRALIA

TABLE 18: Absorption Chillers Market in Australia: Recent Past, Current and Future Analysis in US$ Thousand for the Period 2020-2027

INDIA

TABLE 19: Indian Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2020 to 2027

SOUTH KOREA

TABLE 20: Absorption Chillers Market in South Korea: Recent Past, Current and Future Analysis in US$ Thousand for the Period 2020-2027

REST OF ASIA-PACIFIC

TABLE 21: Rest of Asia-Pacific Market for Absorption Chillers: Annual Sales Estimates and Projections in US$ Thousand for the Period 2020-2027

LATIN AMERICA

TABLE 22: Latin American Absorption Chillers Market Trends by Region/Country in US$ Thousand: 2020-2027
TABLE 23: Latin American Absorption Chillers Market Percentage Breakdown of Sales by Region/Country: 2020 and 2027

ARGENTINA

TABLE 24: Argentinean Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2020-2027

BRAZIL

TABLE 25: Absorption Chillers Market in Brazil: Estimates and Projections in US$ Thousand for the Period 2020-2027

MEXICO

TABLE 26: Absorption Chillers Market in Mexico: Recent Past, Current and Future Analysis in US$ Thousand for the Period 2020-2027

REST OF LATIN AMERICA

TABLE 27: Rest of Latin America Absorption Chillers Market Estimates and Projections in US$ Thousand: 2020 to 2027

MIDDLE EAST

TABLE 28: The Middle East Absorption Chillers Market Estimates and Forecasts in US$ Thousand by Region/Country: 2018-2025
TABLE 29: The Middle East Absorption Chillers Market Share Breakdown by Region/Country: 2020 and 2027

IRAN

TABLE 30: Iranian Market for Absorption Chillers: Annual Sales Estimates and Projections in US$ Thousand for the Period 2020-2027

ISRAEL

TABLE 31: Israeli Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2020-2027

SAUDI ARABIA

TABLE 32: Saudi Arabian Absorption Chillers Market Growth Prospects in US$ Thousand for the Period 2020-2027

UNITED ARAB EMIRATES

TABLE 33: Absorption Chillers Market in the United Arab Emirates: Recent Past, Current and Future Analysis in US$ Thousand for the Period 2020-2027

REST OF MIDDLE EAST

TABLE 34: Absorption Chillers Market in Rest of Middle East: Recent Past, Current and Future Analysis in US$ Thousand for the Period 2020-2027

AFRICA

TABLE 35: African Absorption Chillers Market Estimates and Projections in US$ Thousand: 2020 to 2027

IV. COMPETITION

Total Companies Profiled: 29

Note: Product cover images may vary from those shown
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