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Absorption Chillers - Market Analysis, Trends, and Forecasts

  • ID: 1882071
  • Report
  • February 2020
  • Region: Global
  • 86 Pages
  • Global Industry Analysts, Inc
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Absorption Chillers market worldwide is projected to grow by US$230.5 Million, driven by a compounded growth of 4%. Absorption Chillers, one of the segments analyzed and sized in this study, displays the potential to grow at over 4%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$962.9 Million by the year 2025, Absorption Chillers will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 3.1% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$8.3 Million to the region's size and clout in the next 5 to 6 years. Over US$6.7 Million worth of projected demand in the region will come from Rest of Europe markets. In Japan, Absorption Chillers will reach a market size of US$58.7 Million by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 6.2% over the next couple of years and add approximately US$65 Million in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

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

Global Competitor Market Shares

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

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: Absorption Chillers Global Market Estimates and Forecasts in US$ Thousand by Region/Country: 2018-2025

TABLE 2: Absorption Chillers Market Share Shift across Key Geographies Worldwide:2019 VS 2025

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

TABLE 3: United States Absorption Chillers Market Estimates and Projections in US$ Thousand: 2018 to 2025

CANADA

TABLE 4: Canadian Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2018 to 2025

JAPAN

TABLE 5: Japanese Market for Absorption Chillers: Annual Sales Estimates and Projections in US$ Thousand for the Period 2018-2025

CHINA

TABLE 6: Chinese Absorption Chillers Market Growth Prospects in US$ Thousand for the Period 2018-2025

EUROPE

Market Facts & Figures

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: 2019 VS 2025

FRANCE

TABLE 9: Absorption Chillers Market in France: Estimates and Projections in US$ Thousand for the Period 2018-2025

GERMANY

TABLE 10: Absorption Chillers Market in Germany: Recent Past, Current and Future Analysis in US$ Thousand for the Period 2018-2025

ITALY

TABLE 11: Italian Absorption Chillers Market Growth Prospects in US$ Thousand for the Period 2018-2025

UNITED KINGDOM

TABLE 12: United Kingdom Market for Absorption Chillers: Annual Sales Estimates and Projections in US$ Thousand for the Period 2018-2025

SPAIN

TABLE 13: Spanish Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2018 to 2025

RUSSIA

TABLE 14: Russian Absorption Chillers Market Estimates and Projections in US$ Thousand: 2018 to 2025

REST OF EUROPE

TABLE 15: Rest of Europe Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2018-2025

ASIA-PACIFIC

TABLE 16: Asia-Pacific Absorption Chillers Market Estimates and Forecasts in US$ Thousand by Region/Country: 2018-2025

TABLE 17: Asia-Pacific Absorption Chillers Market Share Analysis by Region/Country: 2019 VS 2025

AUSTRALIA

TABLE 18: Absorption Chillers Market in Australia: Recent Past, Current and Future Analysis in US$ Thousand for the Period 2018-2025

INDIA

TABLE 19: Indian Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2018 to 2025

SOUTH KOREA

TABLE 20: Absorption Chillers Market in South Korea: Recent Past, Current and Future Analysis in US$ Thousand for the Period 2018-2025

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 2018-2025

LATIN AMERICA

TABLE 22: Latin American Absorption Chillers Market Trends by Region/Country in US$ Thousand: 2018-2025

TABLE 23: Latin American Absorption Chillers Market Percentage Breakdown of Sales by Region/Country: 2019 and 2025

ARGENTINA

TABLE 24: Argentinean Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2018-2025

BRAZIL

TABLE 25: Absorption Chillers Market in Brazil: Estimates and Projections in US$ Thousand for the Period 2018-2025

MEXICO

TABLE 26: Absorption Chillers Market in Mexico: Recent Past, Current and Future Analysis in US$ Thousand for the Period 2018-2025

REST OF LATIN AMERICA

TABLE 27: Rest of Latin America Absorption Chillers Market Estimates and Projections in US$ Thousand: 2018 to 2025

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: 2019 and 2025

IRAN

TABLE 30: Iranian Market for Absorption Chillers: Annual Sales Estimates and Projections in US$ Thousand for the Period 2018-2025

ISRAEL

TABLE 31: Israeli Absorption Chillers Market Estimates and Forecasts in US$ Thousand: 2018-2025

SAUDI ARABIA

TABLE 32: Saudi Arabian Absorption Chillers Market Growth Prospects in US$ Thousand for the Period 2018-2025

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 2018-2025

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 2018-2025

AFRICA

TABLE 35: African Absorption Chillers Market Estimates and Projections in US$ Thousand: 2018 to 2025

IV. COMPETITION

Total Companies Profiled: 29

Note: Product cover images may vary from those shown
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