Carrier Global Corporation, Thermax Limited., Kirloskar Pneumatic Company Ltd., Johnson Controls-Hitachi Air Conditioning, LG Electronics, Trane Technologies Company, LLC, and ROBUR S.p.A, among others, are the major players in the global market for absorption chillers.
As per the analysis by Expert Market Research, the global absorption chillers market is expected to grow at a CAGR of 4% in the forecast period of 2022-2027, owing to the rising applications of absorption chillers.
Due to the rising demand for the affordable cooling options, the absorption chillers market is growing globally. The market is further expected to be propelled by the increasing demand for district heating and cooling infrastructure in the coming years. The market is primarily driven by features like silent operation, low maintenance requirements, and vibration-free operation.
Further, the rise in popularity in the industrial sector, particularly the petrochemical industry, and the growing use of absorption chillers in solar cooling projects are projected to fuel market growth throughout the course of the projection period. Furthermore, rigorous government regulations for the use of absorption chillers is another important driver fuelling the market expansion because they are more environmentally friendly than traditional vapour compressors due to decreased emissions of pollutants and harmful gases.
The Asia Pacific region and other developing countries have triggered the rising demand for absorption chillers, which will continue to uplift the market. Due to electrical shortages caused by inadequate electricity flow in these developing countries, the application of the product is anticipated to increase. As a result of its affordability compared to more conventional alternatives, the product is in high demand among consumers.
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|Headquarters:||Connecticut, United States|
Carrier is a leading company in providing heating, air conditioning, and refrigeration solutions. It is a trusted brand which delivers efficient solutions for home heating and cooling requirements. They started by developing a refrigeration system for railroad cars. Following that, they moved forward to the cooling of spaces, ships, hospitals, and restaurants. Some of their products include air conditioners, heat pumps, and ductless systems, among others.
Thermax is a corporation that constructs and puts into operation huge boilers for the production of steam and electricity, turnkey power plants, and industrial and public wastewater treatment facilities. Over the years, it has developed significant expertise in a variety of areas, such as waste heat recovery, waste to energy, the production of green power and steam, the reduction of air pollution, process improvement chemicals, solar energy, water treatment, and recycling.
Kirloskar Pneumatic Company Limited is a part of the Kirloskar Group. The products offered by the company have various applications in sectors like oil, gas, steel, railways, and defence, among others. The product portfolio of the company comprises of air compressors, refrigeration systems, vapour absorption systems, and more. Their vapour absorption chillers are of the latest design and are free of corrosion and crystallisation.
Johnson Controls-Hitachi Air Conditioning is a joint venture between Hitachi Global Life Solutions and Johnson Controls. Their products serve the air conditioning industry. Their portfolio includes commercial air conditioning and refrigeration units, and large-tonnage chillers, among other products. The company offers a broad range of products in the air conditioning sector to its total customer base.
|Headquarters:||Seoul, South Korea|
LG Electronics, a provider of electronic products, is focused on developing new products across the globe. After the Korean War, the company was founded to produce household appliances and consumer electronics for the regional market. As a result, it was the first company in South Korea to manufacture refrigerators, radio equipment, televisions, washing machines, and air conditioners.
|Headquarters:||North Carolina, United States|
Trane Technologies Company, a climate control leader, is a climate innovations company that has set its standards to improve the health and well-being of their customers, communities, and the overall planet. The business has released ground-breaking goods, such as the Turbovac water chiller, which radically changed how the industry views large-building air conditioning systems.
Robur is a leading manufacturer across the world which offers energy-efficient, gas-powered heating and cooling solutions that have a capacity to reduce environmental impact. The company’s heating systems are a profitable investment to increase the value of a building as they use up to 40% of renewable energy through air, ground, or water sources.
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.