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Absorption Chillers - Global Market Trajectory & Analytics

  • ID: 1882071
  • Report
  • April 2021
  • Region: Global
  • Global Industry Analysts, Inc

FEATURED COMPANIES

  • Carrier Corporation
  • Century Corporation
  • CNIM Group
  • Colibri-bv
  • Hitachi Appliances Inc.
  • Johnson Controls
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.
Frequently Asked Questions about the Global Market for Absorption Chillers

What is the estimated value of the Global Market for Absorption Chillers?

The Global Market for Absorption Chillers was estimated to be valued at €757.20 Million in 2020.

What is the growth rate of the Global Market for Absorption Chillers?

The growth rate of the Global Market for Absorption Chillers is 2.7%, with an estimated value of €910.70 Million by 2027.

What is the forecasted size of the Global Market for Absorption Chillers?

The Global Market for Absorption Chillers is estimated to be worth €910.70 Million by 2027.

Who are the key companies in the Global Market for Absorption Chillers?

Key companies in the Global Market for Absorption Chillers include Carrier Corporation, Century Corporation, CNIM Group, Colibri, bv, EAW Energieanlagenbau GmbH, Ebara Refrigeration Equipment & Systems Co. Ltd., Hitachi Appliances Inc. and LG Electronics.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Carrier Corporation
  • Century Corporation
  • CNIM Group
  • Colibri-bv
  • Hitachi Appliances Inc.
  • Johnson Controls
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

A selection of companies mentioned in this report includes:

  • 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
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