Absorption Chillers Global Market Report 2023:

Lower Operational Costs and Better Power Reliability Spur Demand for Absorption Chiller Based CHP in Data Centers – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Absorption Chillers: Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.

Global Absorption Chillers Market to Reach $1.7 Billion by 2030

In the changed post COVID-19 business landscape, the global market for Absorption Chillers estimated at US$1.4 Billion in the year 2022, is projected to reach a revised size of US$1.7 Billion by 2030, growing at a CAGR of 2.6% over the analysis period 2022-2030. HVAC, one of the segments analyzed in the report, is projected to record 2.2% CAGR and reach US$1 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Industrial segment is readjusted to a revised 3.1% CAGR for the next 8-year period.

The U.S. Market is Estimated at $381 Million, While China is Forecast to Grow at 5.2% CAGR

The Absorption Chillers market in the U.S. is estimated at US$381 Million in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$333.3 Million by the year 2030 trailing a CAGR of 5.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.2% and 1.5% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 0.8% CAGR.

What`s New for 2023?

• Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
• Global competitiveness and key competitor percentage market shares
• Market presence across multiple geographies – Strong/Active/Niche/Trivial
• Online interactive peer-to-peer collaborative bespoke updates
• Access to digital archives and Research Platform
• Complimentary updates for one year

Key Topics Covered:

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

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

III. MARKET ANALYSIS

IV. COMPETITION

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.

For more information about this report visit https://www.researchandmarkets.com/r/xif8cq

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