Emphasis on Energy Conservation Drives the Market for Absorption Chillers, 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. Global market for Absorption Chillers is projected to reach US$921.8 million by 2018, driven by the growing focus on energy conservation, environmental protection, and robust demand from developing countries.

Absorption Chillers: A Global Strategic Business Report

Follow us on LinkedIn – Demand for cooling systems has been growing steadily over the years. Comfort cooling in the consumer sector and process cooling in the industrial sector represent the two major application areas for cooling systems. Traditional cooling systems are based on electrically driven compressor cooling technology, which contribute towards increased energy consumption, energy wastages and higher costs of operation. Additionally, the electrically-driven compressor cooling technology utilizes volatile organic compounds like CFCs and HCFCs as refrigerants for cooling. Growing focus on climate change and ozone depletion is bringing smart and environmentally sustainable chiller technologies into the spotlight.

Absorption chillers have been gaining considerable adoption in the commercial HVAC and industrial cooling sectors, given their environment friendly benefits. Key factors driving growth of absorption chillers include rising energy prices and the need to reduce energy consumption and costs; and strict environmental mandates that place a premium on eco-friendly benefits. With governments worldwide phasing out the use of fluorocarbon-based refrigerants like CFCs, and imposing harsh penalties for violation of safe use and disposal guidelines, demand for absorption chillers is expected to grow. Absorption chillers utilize water as the prime refrigerant and are powered by natural gas burners. Indirect fired absorption chillers are especially growing in demand in industrial and commercial applications.

As the most effective and efficient way to cool and heat buildings, solar absorption chillers are also growing in popularity for commercial and residential uses. The growing focus on solar power as a cost effective renewable energy source is benefiting demand in this market. Waste heat powered absorption chillers too are growing in prominence given that these units draw heat energy from waste heat stream from other process that would normally be discharged into the environment. Implementation of the Kyoto Protocol to tackle climate change is expected to drive market acceptance and adoption of both solar and waste heat powered absorption chillers.

Technology developments are also expected to bring in new opportunities for growth. Manufacturers are investing in R&D programs aimed at designing cost effective, high performance and efficient absorption chillers. Companies are also integrating embedded microprocessors to impart smarter and more intelligent control features that provide more accurate control of absorber processes. Triple-Effect Absorption Chillers represents an upcoming technology with promising market potential, which is driven by the rising focus on high-efficiency. These systems offer thermal efficiencies on par with the efficiency rates of mechanical/electrical chillers.

As stated by the new market research report on Absorption Chillers, Asia-Pacific represents the largest and the fastest growing market worldwide, with sales projected to grow at a CAGR of about 4.1% over the analysis period. On par with developed countries, the increasing focus of developing countries on energy conservation is expected to generate demand in this region. With investments on energy efficient technologies poised to grow at over 18% per annum, China is forecast to turbo-charge demand for energy efficient absorption chillers in the coming years.

Major players in the market include Broad Air Conditioning Co., Ltd., Carrier Corporation, Century Corporation, EAW Energieanlagenbau GmbH, Hitachi Appliances Inc., Johnson Controls, LG Air Conditioning (Shandong) Co., Ltd., Robur Corporation, Thermax Inc., Trane Inc., and Yazaki Energy Systems Inc., among others.

The research report titled “Absorption Chillers: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of 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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