HVAC Breaking News

June 28, 2011: Global Market for Absorption Chillers to Reach $924.2 Million by 2017

SAN JOSE, Calif. - According to a new report by Global Industry Analysts Inc. (GIA), the global market for absorption chillers is forecasted to reach $924.2 million by the year 2017, prompted by rising environmental concerns, the requirement for low-cost, high-efficiency cooling systems, and the need to reduce electricity costs. The need for alternatives to CFC-based chillers is also expected to spur growth. Increasing usage in world markets such as Asia-Pacific, Europe, and the United States are projected to drive robust expansion in the long term.

“Absorption Chillers: A Global Strategic Business Report” states that one of the most prominent technologies gaining impetus globally is absorption cooling technology, which uses absorption chillers to provide cooling using natural solar and thermal sources of energy. Although usage of these chillers is a comparatively recent phenomenon, the technology in fact, has been in existence since the early 19th century. Since then the market for these chillers has expanded, as a greater number of end users opt for absorption chillers to reduce their dependency on electric power and save energy, thereby reducing overall costs.

In contrast to the European and U.S. markets where centrifugal and positive displacement chillers occupy a dominant position, absorption chillers drive demand in the Asian chiller markets, particularly in Japan, China, and Korea, which account for 75 percent of the global market. The high demand for absorption chillers in these regions is mainly attributed to the scarcity of fuel resources and poor electricity infrastructure that compelled various governments in Asia to promote usage of absorption chillers. Absorption chillers are primarily driven by waste heat and therefore their integration with heat recovery and power production units is now the mainstream option in many developed countries.

Despite being environmentally friendly and powered by rejected heat, which makes them appealing, the segment still encounters impediments in the form of higher cost, relatively low efficiency, and poor awareness. Nevertheless, government initiatives, rising awareness, the phasing out of ozone depleting refrigerants, and the widening footprint of companies in various regional markets, among other factors, are likely to augment demand for these chillers in the long run.

Publication date: 06/27/2011

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.



Image Galleries

2015 ACCA Conference

Images from the 2015 ACCA Conference in Grapevine, Texas. Posted on April 8, 2015.


NEWSMakers: Leslie McDowell

Leslie McDowell, director of communications at the Building Performance Institute Inc., discusses the nonprofit organization's new homeowner centric website. Posted on April 10.

More Podcasts


NEWS 04-13-15 cover

2015 April 13

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Global Warming

Do you believe in man-made global warming?
View Results Poll Archive


2015 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research


Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Magazine image
Register today for complete access to ACHRNews.com. Get full access to the latest features, Extra Edition, and more.


facebook icontwitter iconyoutube iconLinkedIn i con