LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global absorption chillers market since 2016 and the market is poised to grow by USD 200.35 million during 2019-2023, progressing at a CAGR of close to 4% during the forecast period.
“Absorption chillers offer numerous benefits over conventional chillers, which include the ability to integrate with CHP generation and district cooling infrastructure, low noise levels, and improved efficiency. These factors have increased their appeal in the industrial sector, as they enable industrial users to meet their environmental targets,” says a senior analyst at Technavio. Request Free Sample Pages.
The market is driven by the growing adoption of district heating and cooling infrastructure. In addition, the growing use of absorption chillers across various industries is anticipated to further boost the growth of the absorption chillers market.
District cooling is replacing the traditional air-cooling methods, owing to its numerous advantages such as energy-saving, minimal maintenance requirement, and reduced environmental damage. Absorption chillers are commonly used in district cooling plants, which can process and cool massive amount of water. Thus, the growing adoption of district heating and cooling infrastructure is one of the primary factors that will drive the absorption chillers market.
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Major Five Absorption Chillers Companies:
Johnson Controls
Johnson Controls offers integrated control systems, mechanical equipment, and products and services designed to improve the comfort, safety, and energy efficiency of non-residential buildings and residential properties. The company’s key offerings include Koala CXR series, EX3/EX3P series, and EX series.
Shuangliang Eco-Energy Systems
Shuangliang Eco-Energy Systems supplies absorption chillers and heat pumps to a wide range of industrial and commercial customers. The company offers various products under this category which include steam-fired, direct-fired, hot water, and flue gas absorption chillers.
Thermax
Thermax provides industrial and commercial cooling services by making use of vapor absorption chillers as well as offerings for process cooling. The company offers Triple Effect Absorption Chiller, which is a steam/hot water-driven high-efficiency chiller with a capacity of 100 TR-1,000 TR and coefficient of performance 1.8.
UNITED TECHNOLOGIES
UNITED TECHNOLOGIES operates under various segments, namely Otis, UTC Climate, Controls and Security, Pratt & Whitney, and UTC Aerospace Systems. The company’s key offerings comprise of 16LJ water-cooled chiller, 16DN/DNH chiller, and AQUASNAP 30RAP.
YAZAKI
YAZAKI manufactures and supplies automotive products and life environment equipment. Under its absorption chiller category, the company offers CH-K Series, which are gas-fired double-effect absorption chiller-heaters with 30 RT-100 RT cooling capacity.
Technavio has segmented the absorption chillers market based on the application and region.
Absorption Chillers Application Outlook (Revenue, USD Million, 2019 - 2023)
- HVAC
- Industrial
Absorption Chillers Regional Outlook (Revenue, USD Million, 2019 - 2023)
- APAC
- Europe
- North America
- MEA
- South America
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