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Adoption Chillers Market Is Expected To Witness Rapid Growth


Introduction

Absorption chillers are cooling units that deploy a heat source to generate enough energy required for the cooling process and are primarily used in food storage. They use heat to operate instead of mechanical power. Absorption chillers are very energy-efficient as they consume a very small amount of fuel as compared to other refrigeration devices and generally, they use waste heat from the turbine or water heater to generate energy.

Low boiling point refrigerants such as ammonia and lithium bromide are employed in these units. Evaporation, absorption, and regeneration are the three phases of chilling in this unit. They have a lower cooling performance. However, due to their low operational cost, they are widely employed in the domestic, commercial, and industrial sectors. Educational institutes, hospitals, and minivans are some of the users of absorption chillers.

Drivers of Adoption Chillers Market

The demand for absorption chillers market size 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 electricity prices and increasing investments in infrastructure projects across fast-growing economies is expected to drive the demand for these chillers over the projected period. Factors such as lower operational cost, improved efficiency, and low noise are further boosting the absorption chillers' market growth. Absorption chillers produce low emissions of gas and other pollutants compared to conventional refrigerants. The market is further propelling due to the environment-friendly nature of these units.

Restraints and opportunities

High cost associated with the maintenance and high installation cost can hamper the market growth. High risk associated with the deterioration & damage to the entire unit in case of air leakage from the main panel may also restrain the growth of the market. However, stringent regulations for chlorofluorocarbon refrigerants are expected to open growth opportunities for the market. Moreover, absorption chillers' market size is expected to grow on account of propelling applications of these systems in the petrochemical industry.

Market Segmentation

The market of absorption chillers is segmented by type, technology, end-user, and region. By type, the market is segmented as steam absorption chillers, hot water absorption chillers, direct-fired absorption chillers, and indirect-fired absorption chillers. By technology, the market is segmented as a single-effect, double-effect, and triple-effect. By end-user, the market is segmented as industrial, commercial, and residential. Geographically, the market is segmented as North America, South America, Europe, Asia Pacific, and the Middle East.

North America region is expected to have a significant market share of the global absorption chiller market share. The market share is projected on account of the strong adoption of these units from the region’s food processing and petroleum industries. Europe region will also have a significant market share owing to the steady demand from the frozen food sector. Asia Pacific region is expected to witness rapid growth on account of rapid industrialization in the region. Growth in the food processing sector in the region will further boost the market.

According to industry research conducted by Knowledge Sourcing Intelligence, 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.

Key Questions Answered in This Report:

·         What are the key regions having a significant market share of the market?
·         What is the market segmentation of the bowel management system market?
·         What are the drivers of the market?
·         What are the restraining factors and growth opportunities of the market?
·         Who are the key market players in the market?

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