A new report from Global Industry Analysts (GIA) suggests the worldwide market for absorption chillers is forecast to reach $924.2 million by the year 2017, prompted by rising environmental concerns, requirement for low cost, high efficiency cooling systems and need for cutbacks in spiraling electricity charges.
The report highlights the need for comfort cooling, uninterrupted power supply and alternatives for fluorocarbon based chillers which are expected to spur growth in the absorption chillers market, by increasing usage in world markets such as Asia-Pacific, Europe and US which will further propel robust expansion in the long term.
The findings of 'Absorption Chillers: A Global Strategic Business Report'
also cite a surge in industrialisation and number of large commercial structures drives home the need for effective and safe cooling systems that draw from renewable sources of energy.
In contrast to the European and US 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 a significant 75% 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 infrastructures that compelled various governments in Asia to promote usage of absorption chillers. However the abundant supply of gas in certain countries such as Iran and Pakistan is expected to fuel demand for gas-fired 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.
Asia-Pacific, led by China, India and Korea dominates the global scenario as the single largest market, as stated by the new research report on Absorption Chillers. Japan trails behind as the next significant market in terms of size and is considered a pioneer in absorption cooling technology, particularly for steam-based chillers. Asia-Pacific is also credited with the potential to forge ahead in terms of market development and growth through 2017.
To obtain a copy of the report vist: http://www.strategyr.com/Absorption_Chillers_Market_Report.asp