By 2022 and 2032, it is projected that the market for absorption chillers will be worth US$1,532.7 and US$2,376.8 million, respectively. The market is anticipated to expand at a CAGR of 4.5% between 2022 and 2032.
A chiller, also known as an absorption chiller, is a thermally powered refrigeration system that cools down buildings by using a heat source and a liquid refrigerant. These absorption chillers are more energy-efficient than conventional absorption chillers, such as electronic absorption chillers and industrial machinery, and they don’t use chlorofluorocarbons (CFCs), which are harmful to the ozone layer.
Additionally, absorption chillers can be powered by steam, hot water, natural gas, or waste water and use heat energy to pump with the least amount of mechanical energy. Single-stage and double-stage systems are the two categories into which commercial absorption chillers are divided. In a one-stage system, only one generator and condenser are employed.
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Due to the rising demand for these affordable cooling options, the absorption chillers market is currently growing globally. The absorption chillers market is primarily driven by features like silent operation, low maintenance requirements, and vibration-free operation.
Additionally, the rise in popularity in the industrial sector, particularly the petrochemical industry, and growing use of absorption chillers in solar cooling initiatives are likely to fuel market growth over the course of the forecast period.
Furthermore, strict government regulation on the use of absorption chillers is another important factor fueling market expansion because they are more environmentally friendly than traditional vapour compressors due to lower emissions of pollutants and hazardous gases.
The global absorption chillers market is severely constrained by higher initial chiller installation costs. Furthermore, two major factors preventing market expansion are rising electricity costs and a lack of electricity.
Start-up scenario:
Critical Power Products and Services, LLC is a used chiller distributor for industrial applications. Air-cooled, water-cooled, and liquid absorption chillers are available with a range of functions. Available in three-phase with a variety of refrigerants including R-123, R-134A, and R-22. Models vary in capacity from 120 to 910 tonnes, rated voltage from 460 to 575 volts, and frequency from 60 to 60 Hz.
Trusteel LLC produces automated solvent cooling systems composed of stainless steel, PTFE, and borosilicate. The specifications include a rated voltage of 208/240 V, a current of 20 A, and a flow rate of 300 gal/h of chilled solvent at -60 degrees C. Alarms, continuous process flow, a built-in fail safe, data logging, and remote control are among the features. Acetone, acetonitrile, ethanol, heptane, hexane, and methanol are all compatible. FDA cleared. UL certified are are made in the United States.
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Key Segments :
ABSORPTION CHILLERS MARKET BY SOURCE OF ENERGY:
Direct Fired Absorption Chillers
Steam-heated Absorption Chillers
Hot Water Heated Absorption Chillers
Gaseous Fuels powered Absorption Chillers
ABSORPTION CHILLERS MARKET BY REFRIGERANT:
Ammonia Absorption Chillers
Lithium Bromide (Brine) Absorption Chillers
ABSORPTION CHILLERS MARKET BY PACKAGING:
Modular Absorption Chillers
Packaged Absorption Chillers
ABSORPTION CHILLERS MARKET BY APPLICATION:
Absorption Chillers for Food Storage
Absorption Chillers for Air Conditioning
ABSORPTION CHILLERS MARKET BY END USE:
Absorption Chillers for Industrial Use
Absorption Chillers for Commercial Use
Absorption Chillers for Residential Use
ABSORPTION CHILLERS MARKET BY REGION:
North America Absorption Chillers Market
Latin America Absorption Chillers Market
Europe Absorption Chillers Market
Asia Pacific Absorption Chillers Market
Middle East & Africa Absorption Chillers Market
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Market Competition:
The key players of this market include Thermax Ltd, Helioclim, MultiChill Technologies Inc, Kirloskar Pneumatic Company Ltd, World Energy Absorption Absorption chillers Europe Ltd, Johnson Controls, Inc., LG Air Conditioning (Shandong) Co., Ltd., Hitachi Appliances Inc., EAW, Energieanlagenbau GmbH, Carrier Corporation, Century Corporation, Yazaki Energy Systems Inc.
Johnson Controls, Inc. creates conventional and customized air-handling systems, rooftop systems, and sustainable environments, as well as lead acid and lithium ion batteries, building efficiency and technology solutions, and HVAC equipment such as absorption chillers. They also provide training, servicing, rental, and repair.
Carrier Corporation is a company that makes commercial refrigeration systems. Air-cooled condensing units, absorption chillers, air-cooled gas coolers, compressor racks, multi-rack compressors, heating systems, and heat exchangers are examples of refrigeration systems. Cash and carry, supermarkets, hypermarkets, discount stores, persuade stores, small retailers, and distribution hubs are among their applications.
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