EXECUTIVE ENGAGEMENTS
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DATE
JAN 2022
TABLES
202
PAGES
267
EDITION
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USD 5600
CODE
MCP-6705
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HIGHLIGHTS & REPORT INDEX
Global Absorption Chillers Market to Reach $891.2 Million by 2026
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$891.2 Million by 2026, growing at a CAGR of 2.7% over the analysis period.
The U.S. Market is Estimated at $209.7 Million in 2021, While China is Forecast to Reach $175.4 Million by 2026
The Absorption Chillers market in the U.S. is estimated at US$209.7 Million in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$175.4 Million by the year 2026 trailing a CAGR of 5% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.7% and 2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.2% CAGR.
SELECT PLAYERS
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.
SEGMENTS
» Segment (Absorption Chillers)
GEOGRAPHIES
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » Spain » Russia » and Rest of Europe » Asia-Pacific » Australia » India » South Korea » and Rest of Asia-Pacific » Latin America » Argentina » Brazil » Mexico » and Rest of Latin America » Middle East » Iran » Israel » Saudi Arabia » United Arab Emirates » and Rest of Middle East » and Africa
TABLE OF CONTENTS
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
| 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 |
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