Absorption chillers are machines that are specifically used to cool large commercial spaces. The absorption chiller machine (VAM) produces chilled water using a heat source, rather than using electrical input, as compared to the vapor compression cycle. Absorption chillers have presently gained widespread acceptance due to their capability to combine with cogeneration systems and operate with industrial waste heat streams. Absorption chillers have the ability to utilize waste heat streams, which are wasted otherwise.

The market for absorption chillers is expanding due to increasing number of commercial spaces and the rising demand for cooling the same. Various types of absorption chillers are available that use dynamic compression to convert kinetic energy to static energy. The fact that the main source for absorption chillers is not electricity, gives them an advantage as compared to other competing products. Furthermore, these machines have a long lifespan, which may range up to 20 years.

Moreover, features such as reduced noise and vibration, due to the absence of compressor, and electric motor, ultimately result in quiet operation and high reliability. Utilization of a gas generator of direct action in refrigeration and heating units eliminates the boilers that are used in conventional installations. This, in turn, reduces the initial cost of the system and makes absorption chillers competitive, as compared to conventional systems that utilize boilers and chillers. Moreover, absorption chillers enable the use of the emergency generators, as energy consumption in absorption chillers is less as compared to electric refrigeration units.

The global absorption chillers market can be segmented based on type of refrigerant, type, energy source, application, and region. Based on type of refrigerant, the absorption chillers market can be segmented into ammonia and lithium bromide. In terms of type, the absorption chillers market can be divided into single-effect chiller, double-effect chiller, and direct-fired chiller. Based on energy source, the absorption chillers market can be divided into gas fired, steam fired, direct fired, and hot water. Based on application, the absorption chillers market can be classified into food storage, air conditioning, and others. On the basis of application, the absorption chillers market can be bifurcated into commercial and industrial.

In terms of region, the global absorption chillers market can be segmented into North America (NA), Europe (EU), Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SA). The North America market comprises the U.S., Canada, and Rest of North America. Europe includes the U.K., Germany, France, and Rest of Europe. Similarly, Asia Pacific includes India, China, Japan, and Rest of Asia Pacific. Middle East & Africa comprises GCC, South Africa, and Rest of Middle East & Africa. South America consists of Brazil, Mexico, and Rest of South America. In terms of demand, Asia Pacific held a major share of the global market in 2017. The region is expected to maintain its dominance of the global absorption chillers market during the forecast period. However, the market in Asia Pacific is projected to expand at a notable growth rate, in term of volume, in the near future, due to expansion of industrial and commercial sectors in the region.

Major companies operating in the global absorption chillers market are Thermax Ltd, Carrier Corporation, Century Corporation, Kirloskar Pneumatic Co., EAW Energieanlagenbau GmbH, Yazaki Energy Systems Inc., Hitachi Appliances Inc., and MultiChill Technologies Inc. Absorption chillers is a fragmented market due to the presence of various local and international service providers globally. Leading players try to maintain their brand value providing advanced wide spread distribution services. Furthermore, lower fuel costs and higher electricity cost prompt manufacturers to explore new technologies.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Absorption Chillers Market

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