Rising Environmental Concerns to Drive Demand for Absorption Chillers Worldwide, According to New Report by Global Industry Analysts, Inc.

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GIA announces the release of a comprehensive global report on Absorption Chillers markets. World Absorption Chillers market is projected to reach US$924 million by the year 2017. Growth will be primarily driven by rising energy prices, growing environmental concerns, and rising demand for low cost, high efficiency cooling systems. Developing countries in Asia Pacific are expected to drive future growth in the market largely as a result of the rapid pace of industrialization and the surge in the number of large commercial structures, which in turn drives the need for environmentally friendly and safe cooling systems.

Absorption Chillers: A Global Strategic Business Report

Follow us on LinkedIn – Chiller systems are the conventional methods of cooling used for air conditioning and process cooling applications in commercial and industrial set-ups. Centrifugal chillers, positive displacement chillers and absorption chillers form major segments in the global chiller industry. With several advantages stacked in its favor, such as, energy efficiency, effective utilization of waste heat, environmentally safe, low running costs and low driving temperatures, absorption chillers are growing in popularity worldwide. Integration of absorption chillers with heat recovery, power production units and cogeneration system, have come to become mainstream in several countries worldwide. Developing countries are especially spearheading the use of absorption chillers led primarily by scarcity of fuel resources and poor electricity infrastructures. Tightening environmental regulations worldwide is also helping drive demand for absorption chillers, which have huge potential as they are viewed as one of the next best alternatives to CFC based chillers.

Environmental concerns, particularly with regard to harmful greenhouse gas emissions associated with various heating and air conditioning (HVAC) equipment has attracted global attention over the last several years. The Montreal Protocol was initiated in the year 1987 for the purpose of protecting the ozone layer. The protocol mandated the gradual phase out and ban of ozone depleting substances such as HCFCs (Hydro chlorofluorocarbons) and CFCs (chlorofluorocarbons) among others. Majority of conventional /stationery air conditioning systems make use of technology based on vapor-compression cycle, and comprises of HCFC-22 refrigerant. Against this backdrop, absorption chillers, which use natural and renewable heat (solar) energy instead of mechanical energy, have emerged as a viable alternative to environmentally harmful systems as they provide cooling using eco-friendly refrigerants. In the upcoming years, demand for small capacity absorption chillers, ranging between 16 KW and 23 KW capacity, is expected to increase, driven by growing adoption in light commercial and residential buildings. This expansion in applications from traditional large commercial and industrial applications to small scale applications is forecast to create additional revenue generating opportunities in the marketplace.

As stated by the new market research report on Absorption Chillers, Asia-Pacific represents the largest market worldwide. The region also represents the fastest growing market with a projected CAGR of 4.4% over the analysis period. Growth in the future will be largely dependent upon the level of R&D activity and the ensuing innovations designed to enhance performance while simultaneously reducing costs. Continued R&D efforts will result in future generations of absorption chillers being more simplistic in design, more compact, lightweight, and efficient. Other factors expected to drive growth in the region include government initiatives encouraging the usage of chillers, rising consumer awareness and gradual phasing out of traditional refrigerants, among others.

Key market participants profiled in the report include Broad Air Conditioning Co., Ltd., Carrier Corporation, ClimateWell AB, Dunham-Bush Holding Bhd, EAW GmbH, Entropie SAS, Finetec Century Corporation, Hitachi Appliances Inc., Shuangliang Eco-Energy Systems Co., Ltd., McQuay International, Mitsubishi Heavy Industries Ltd., Robur Corporation, Sanyo Electric Co., Ltd.,/Panasonic, Thermax Ltd., Trane Inc., Yazaki Energy Systems Inc., and York International Corp.

The research report titled “Absorption Chillers: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a comprehensive review of industry overview, growth drivers, issues & trends, SWOT analysis, end-use analysis, competitive scenario, product overview, recent industry activity and profiles of market players worldwide. Market estimates and projections are provided in US$ for major geographic markets such as US, Canada, Japan, Europe, Asia-Pacific, Latin America and Rest of World.

For more details about this comprehensive market research report, please visit –
http://www.strategyr.com/Absorption_Chillers_Market_Report.asp

About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.

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Global Industry Analysts, Inc.
Telephone: 408-528-9966
Fax: 408-528-9977
Email: press(at)StrategyR(dot)com
Web Site: http://www.StrategyR.com/

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