Absorption Chillers Market: Global Size, Trends, Competitive, Historical & Forecast Analysis, 2020-2027
Absorption chillers are machines that are specifically used to cool large commercial spaces. The absorption chiller machine (VAM) produces chilled water using a heat source, rather than using electrical input, as compared to the vapor compression cycle. Absorption chillers have presently gained widespread acceptance due to their capability to combine with cogeneration systems and operate with industrial waste heat streams. Absorption chillers have the ability to utilize waste heat streams, which are wasted otherwise.
The market for absorption chillers is expanding due to increasing number of commercial spaces and the rising demand for cooling the same. Various types of absorption chillers are available that use dynamic compression to convert kinetic energy to static energy. The fact that the main source for absorption chillers is not electricity, gives them an advantage as compared to other competing products. Furthermore, these machines have a long lifespan, which may range up to 20 years.
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Moreover, features such as reduced noise and vibration, due to the absence of compressor, and electric motor, ultimately result in quiet operation and high reliability. Utilization of a gas generator of direct action in refrigeration and heating units eliminates the boilers that are used in conventional installations. This, in turn, reduces the initial cost of the system and makes absorption chillers competitive, as compared to conventional systems that utilize boilers and chillers. Moreover, absorption chillers enable the use of the emergency generators, as energy consumption in absorption chillers is less as compared to electric refrigeration units.
The global absorption chillers market can be segmented based on type of refrigerant, type, energy source, application, and region. Based on type of refrigerant, the absorption chillers market can be segmented into ammonia and lithium bromide. In terms of type, the absorption chillers market can be divided into single-effect chiller, double-effect chiller, and direct-fired chiller. Based on energy source, the absorption chillers market can be divided into gas fired, steam fired, direct fired, and hot water. Based on application, the absorption chillers market can be classified into food storage, air conditioning, and others. On the basis of application, the absorption chillers market can be bifurcated into commercial and industrial.
In terms of region, the global absorption chillers market can be segmented into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA). The North America market comprises the U.S., Canada, and Rest of North America. Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa comprises GCC, South Africa, and Rest of Middle East & Africa. South America consists of Brazil, Mexico, and Rest of South America. In terms of demand, Asia Pacific held a major share of the global market in 2017. The region is expected to maintain its dominance of the global absorption chillers market during the forecast period. However, the market in Asia Pacific is projected to expand at a notable growth rate, in term of volume, in the near future, due to expansion of industrial and commercial sectors in the region.
Major companies operating in the global absorption chillers market are Thermax Ltd, Carrier Corporation, Century Corporation, Kirloskar Pneumatic Co., EAW Energieanlagenbau GmbH, Yazaki Energy Systems Inc., Hitachi Appliances Inc., and MultiChill Technologies Inc. Absorption chillers is a fragmented market due to the presence of various local and international service providers globally. Leading players try to maintain their brand value providing advanced wide spread distribution services. Furthermore, lower fuel costs and higher electricity cost prompt manufacturers to explore new technologies.
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