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The global absorption chillers industry is likely to witness a significant growth in the major regions in the forecast period. The Asia Pacific is one of the leading regions for the industry owing to the rising number of geothermal, nuclear, as well as solar power plants, which is propelling the demand for absorption chillers in the market. Absorption chillers consume significantly less energy as compared to the regular electric refrigeration units. One of the key factors driving the absorption chillers industry is the rising adoption of the district heating and cooling infrastructure. These chillers are required in large regional cooling plants for the processing and refrigeration of vast quantities of water since they lead to major fuel energy savings. In addition to saving energy, the use of absorption chiller often means low investment and high reliability, which is further catalysing the market growth.
Carrier Global Corporation (NYSE: CARR) is among the leading key players for absorption chillers. In July 2021, the company introduced Carrier Alliance. It is a new programme aimed at optimising the supply chain of the company through strengthening and enhancing strategic relations with providers. The Alliance should provide Carrier and its key suppliers with certainty, security, and growth opportunities, as both work to outweigh customer requirements. This programme is expected to influence the company’s absorption chillers portfolio positively, further propelling the growth of the overall market.
Market Analysis by Refrigerant Type, Technology, Source of Energy, Applications, End Use, and Region:
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The major players in the global absorption chillers market are 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. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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