Research Announces: Absorption Chillers Market Overviews and Complete Forecast Report

Absorption chillers are thermally-driven chillers, which use a liquid refrigerant or sorbent solution and a heat source to provide cooling to buildings. These chillers use less energy than conventional equipment such as electrical chillers, but also cool buildings and industrial equipment without the use of ozone-depleting chlorofluorocarbons (CFCs). Commercially available absorption chiller systems are classified as single-stage and two-stage systems.

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Single-stage systems employ a single condenser and generator. The thermal efficiency of single-stage absorption chillers is low, which hampers their cost competitiveness with conventional electrical chillers. Single-stage absorption chillers have Coefficient of Performance (COP) of around 0.6–0.8 out of an ideal 1. Double-stage absorption chillers differ from single-stage ones in that there are two condensers and two generators to allow more refrigerants to boil-off from the absorbent solution.

By application, food & beverage sub-segment in the industrial application segment is expected to register a significant CAGR during the forecast period. Moreover, food & beverage sub-segment is expected to be them most lucrative end-use industry segment in global absorption chillers market owing to increasing demand for CHP (combined heat & power) systems mainly due to reduction in annual energy cost of operation. Recycling waste energy, hot water & steam and reusing it as a secondary source to create chilled water for comfort conditioning or process cooling leading to reduction in electricity consumption minimizing the environmental impact of power generation is primarily increasing the adoption of absorption chillers.

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By technology, global absorption chillers market is segmented into single-stage and double-stage. Revenue for the single-stage segment is expected to grow primarily due to increase in demand for waste heat recovery systems in order to reduce overall energy costs. However, single-stage segment is expected to witness sluggish growth due to lower COP and enhancements & advancements in absorption chillers such as triple-stage systems.

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On the basis of geography, the global absorption chillers market is segmented into North America, Latin America, Europe, Asia Pacific (APAC), and Middle East and Africa (MEA). MEA is expected to register a significant CAGR over the forecast period particularly due to increase in number of district cooling systems. According to International District Energy Association, the Middle East as a whole installed 75.5 million square feet of district cooling capacity in 2014. As per estimation, the region’s consumption demand for district cooling applications is projected to grow by over 16% in the approaching five years.

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