Absorption Chillers Market- Forecasts from 2018 to 2023

Absorption chillers market was valued at US$959.571 million in 2017 and is projected to expand at a CAGR of 4.53% over the forecast period to reach US$1,252.081 million by 2023. Absorption Chillers are cooling solutions that operate on thermal power instead of mechanical power. The demand for absorption chillers market is expected to grow on account of increasing adoption across various industries such as pharmaceuticals, food and beverages, textile, power and energy, chemical and petrochemicals, and  others. Falling electicity prices and increasing investments in infrastructure projects across fast growing economies is expected to drive the demand for these chillers over the projected period. High cost associated with the maintenance and low efficiency as compared to the substitutes are some of the challenges to the large-scale adoption of these solutions during 2017 to 2023.

Research Methodology

This research study examines the current market trends related to the demand, supply, and sales, in addition to the recent developments. Major drivers, restraints, and opportunities have been covered to provide an exhaustive picture of the market. The analysis presents in-depth information regarding the development, trends, and industry policies and regulations implemented in each of the geographical regions. Further, the overall regulatory framework of the market has been exhaustively covered to offer stakeholders a better understanding of the key factors affecting the overall market environment.

Identification of key industry players in the industry and their revenue contribution to the overall business or relevant segment aligned to the study have been covered as a part of competitive intelligence done through extensive secondary research. Various studies and data published by industry associations, analyst reports, investor presentations, press releases and journals among others have been taken into consideration while conducting the secondary research. Both bottom-up and top down approaches have been utilized to determine the market size of the overall market and key segments. The values obtained are correlated with the primary inputs of the key stakeholders in the absorption chillers value chain. Last step involves complete market engineering which includes analyzing the data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting.

Market intelligence is presented in the form of analysis, charts, and graphics to help the clients in gaining faster and efficient understanding of the Absorption Chillers market. 

Major industry players profiled as part of the report are Vamtec Ltd, Johnson Controls-Hitachi Air Conditioning, Thermax Global, Trane, and Carrier Corporation among others.

Segmentation

Absorption chillers market has been analyzed through following segments:

By Type

Steam Absorption Chillers

Hot water Absorption Chillers

Direct-Fired Absorption Chillers

Indirect-Fired Absorption Chillers

By Technology

Single-Effect

Double-Effect

Triple-Effect

By End User

Industrial

Commercial

Residential

By Geography

North America

U.S.

Canada

Mexico

Others

South America

Brazil

Others

Europe

UK

Germany

France

Others

Middle East and Africa

Saudi Arabia

UAE

Israel

Others

Asia-Pacific

Japan

China

India

Australia

Others