Prominent Takeaways from this Report
- Growing adoption of district heating and cooling infrastructure drives market growth.
- HVAC segment to witness the highest application share in the absorption chillers market.
- 39% of the market growth will originate from APAC with China and Japan holding the largest country share.
- The absorption chillers market is highly competitive and fragmented with vendors deploying innovative strategies to continue maintaining and expanding their customer base.
- The market is anticipated to have a negative & inferior impact due to the COVID-19 pandemic.
View Technavio's 120-page research report with ToC on "Absorption Chillers Market by Application (HVAC and industrial), Geography (APAC, Europe, North America, MEA, and South America) and Vendor Forecasts, 2021 - 2025"
www.technavio.com/report/absorption-chillers-market-industry-analysis
Absorption Chillers Market: Driver and Trend Analysis
There has been a considerable increase in demand for district cooling in recent years due to its minimal maintenance requirement and environmental damage. The installation of these chillers in large-scale district cooling plants processing a massive amount of water aids in saving both space and energy. Furthermore, the deployment of absorption chillers also requires low lifetime investment while offering higher reliability to the end-users. As a result, with the growing adoption of district heating and cooling infrastructure, the demand for absorption chillers is likely to accelerate in the forthcoming years.
Download PDF about drivers, restraints, and opportunities for Absorption Chillers Market,
Request Free Sample @ https://www.technavio.com/talk-to-us?report=IRTNTR70315
Absorption Chillers Market: Segmentation Analysis
This market research report fragments the global absorption chillers market by application (HVAC and industrial) and geography (APAC, Europe, North America, MEA, and South America).
The HVAC application segment held the largest absorption chillers market share in 2020. The use of absorption chillers in HVACs for regulating the ambient air temperature is one of the critical factors responsible for their surging adoption in malls and shopping centers, residential and official buildings, and other construction activities. As a result, with growing urbanization and exponentially increasing construction of HVAC-enabled buildings will drive the demand for absorption chillers.
In terms of geographical segmentation, 39% of the market's growth will originate from APAC during the forecast period. The expansion in the number of large commercial establishments, particularly in China and Japan will be facilitating the absorption chillers market growth in the region. However, market growth in this region will be slower than the growth of the market in MEA.
Absorption Chillers Market: Vendor Analysis
The absorption chillers market is highly competitive and fragmented. Several players in the market striving to provide superior products by differentiating them either based on quality or service. Vendors are deploying various organic and inorganic growth strategies to survive market competition. This report classifies key market players as dominant, pure-play and industry-focused players to offer effective investment opportunities and allow clients to make informed decisions. Prominent absorption chillers market players include:
- Carrier Global Corp.
- Colibri B.V.
- Daikin Industries Ltd.
- Ebara Corp.
- Johnson Controls International Plc
- LG Electronics Inc.
- Mitsubishi Heavy Industries Ltd.
- Trane Technologies plc
- World Energy Co. Ltd.
- Yazaki Corp.
For customized and tailor-made specifications to be done for this report, Speak to our Analysts
Find more research reports on Industrials Industry, by Technavio
- HVAC Chillers Market by End-user, Product, and Geography 2021-2025 - The HVAC chillers market size will grow by USD 2.62 billion during 2021-2025, growing at a CAGR of 4.96% over the forecast period.
Download Sample for More Details
- HVAC Equipment Market in Europe by End-user and Geography 2021-2025 - The HVAC equipment market size in Europe will grow by USD 9.95 billion during 2021-2025, growing at a CAGR of 5.96% over the forecast period.
Download Sample for More Details
Absorption Chillers Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist absorption chillers market growth during the next five years
- Estimation of the absorption chillers market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the absorption chillers market
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of absorption chillers market vendors
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
Follow Us: Twitter | LinkedIn
SOURCE Technavio
Related Links
http://www.technavio.com/
Share this article