San Francisco, California, July 04, 2017 : In a report titled “Absorption Chillers Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025”, TMR Research carefully studies the macro and micro factors influencing the worldwide market. It takes into account the many socio-economic parameters impacting the expansion of the absorption chillers market and offers strategic recommendations on overcoming the hurdles that lie ahead. The soaring demand for robust chilling facilities across a number of industries is single-handedly driving the market for absorption chillers.
Absorption chillers may be used for industrial as well as non-industrial applications. While non-industrial applications include the use of absorption chillers in the commercial and residential sector, the various industrial applications of absorption chillers include in the food and beverages, chemicals, pharmaceutical, petroleum, power, oil and gas, and pulp and paper sectors. The constant need for equipment to store drugs and instruments at a particular temperature is a key factor that is likely to maintain the demand for absorption chillers in the pharmaceutical sector.
By way of geography, the absorption chillers market can be segmented into Europe, North America, Asia Pacific, and Rest of the World (RoW). Asia Pacific plays a key role in the expansion of the absorption chillers market and is predicted to witness strong growth over the course of the forecast period. This is owing to improper distributing of electricity in most developing countries, power shortfalls, and growing need to power electric appliances in a range of end-use industries. Other factors supporting the growth of the absorption chillers market in Asia Pacific include improving economic conditions, expanding capacities of nuclear, solar, and geothermal power plants, and rapid expansion of the commercial sector.
North America is also a significant contributor to the global absorption chillers market thanks to the rapid expansion of end-use industries such as processed food, petroleum, and chemicals. Europe as well as regions in the RoW segment, such as the Middle East and Africa and Latin America, are also forecast to rake it high revenue in the coming years on account of rising adoption of absorption chillers in a number of industries.
Kirloskar Pneumatic Company Limited, Shuangliang Eco-Energy Systems Company Ltd., Johnson Controls Inc., Simons Green Energy, Broad U.S.A. Inc., Ebara Refrigeration Equipment & Systems Co Ltd., Hitachi Ltd., Solair, Clarke Energy, Yazaki Energy Systems Inc., Thermax Ltd., Kawasaki Trading Co. Ltd., and Voltas, Ltd. are some of the key players in the global absorption chillers market. By nature, the absorption chillers market is rather capital intensive, requiring major investments for complex production facilities and advanced technologies. This poses a major barrier for new entrants.