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Absorption Chillers - Global Market Trajectory & Analytics

  • ID: 1882071
  • Report
  • April 2021
  • Region: Global
  • 95 Pages
  • Global Industry Analysts, Inc
Global Absorption Chillers Market to Reach $910.7 Million by 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. Market is Estimated at $204.7 Million, While China is Forecast to Grow at 5% CAGR

The Absorption Chillers market in the U.S. is estimated at US$204.7 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$183 Million by the year 2027 trailing a CAGR of 5% over the analysis period 2020 to 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.

Select Competitors (Total 29 Featured):
  • 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.
Note: Product cover images may vary from those shown
I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Absorption Chillers: Providing Eco-friendly and Useful Cooling through Re-use of Low Temperature 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 of Absorption Chillers
  • 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 Chiller Based 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 Demand for 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: World Current & Future Analysis for Absorption Chillers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 2: World 7-Year Perspective for Absorption Chillers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2020 & 2027
III. MARKET ANALYSIS
  • UNITED STATES
  • Table 3: USA Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • CANADA
  • Table 4: Canada Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • JAPAN
  • Table 5: Japan Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • CHINA
  • Table 6: China Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • EUROPE
  • Table 7: Europe Current & Future Analysis for Absorption Chillers by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 8: Europe 7-Year Perspective for Absorption Chillers by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2020 & 2027
  • FRANCE
  • Table 9: France Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • GERMANY
  • Table 10: Germany Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • ITALY
  • Table 11: Italy Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • UNITED KINGDOM
  • Table 12: UK Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • SPAIN
  • Table 13: Spain Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • RUSSIA
  • Table 14: Russia Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • REST OF EUROPE
  • Table 15: Rest of Europe Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • ASIA-PACIFIC
  • Table 16: Asia-Pacific Current & Future Analysis for Absorption Chillers by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 17: Asia-Pacific 7-Year Perspective for Absorption Chillers by Geographic Region - Percentage Breakdown of Value Sales for Australia, India, South Korea and Rest of Asia-Pacific Markets for Years 2020 & 2027
  • AUSTRALIA
  • Table 18: Australia Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • INDIA
  • Table 19: India Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • SOUTH KOREA
  • Table 20: South Korea Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • REST OF ASIA-PACIFIC
  • Table 21: Rest of Asia-Pacific Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • LATIN AMERICA
  • Table 22: Latin America Current & Future Analysis for Absorption Chillers by Geographic Region - Argentina, Brazil, Mexico and Rest of Latin America Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 23: Latin America 7-Year Perspective for Absorption Chillers by Geographic Region - Percentage Breakdown of Value Sales for Argentina, Brazil, Mexico and Rest of Latin America Markets for Years 2020 & 2027
  • ARGENTINA
  • Table 24: Argentina Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • BRAZIL
  • Table 25: Brazil Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • MEXICO
  • Table 26: Mexico Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • REST OF LATIN AMERICA
  • Table 27: Rest of Latin America Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • MIDDLE EAST
  • Table 28: Middle East Current & Future Analysis for Absorption Chillers by Geographic Region - Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2020 through 2027 and % CAGR
  • Table 29: Middle East 7-Year Perspective for Absorption Chillers by Geographic Region - Percentage Breakdown of Value Sales for Iran, Israel, Saudi Arabia, UAE and Rest of Middle East Markets for Years 2020 & 2027
  • IRAN
  • Table 30: Iran Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • ISRAEL
  • Table 31: Israel Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • SAUDI ARABIA
  • Table 32: Saudi Arabia Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • UNITED ARAB EMIRATES
  • Table 33: UAE Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • REST OF MIDDLE EAST
  • Table 34: Rest of Middle East Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
  • AFRICA
  • Table 35: Africa Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2020 through 2027 and % CAGR
IV. COMPETITION
  • Total Companies Profiled: 29
Note: Product cover images may vary from those shown
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