Europe Absorption Chillers Market Size, Share & Industry Trends Analysis Report By Application, By End User, By Refrigerant Type (Lithium Bromide and Ammonia), By Energy Source (Hot Water Treated, Steam Heated), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe Absorption Chillers Market would witness market growth of 3.9% CAGR during the forecast period (2022-2028).
Absorption chillers are either ammonia-water or lithium bromide-water equipment. The system utilizes water as the refrigerant and bromide as the absorber. The ammonia-water system utilizes water as the ammonia and the absorber as the refrigerant. It is known as the single-effect cycle when the fluids are transferred through the refrigeration machine's four major components: the absorber, evaporator condenser, and generator.
Single-effect LiBr/ H2O absorption chillers use hot water or a low-pressure stem as the heat source. The water can evaporate and extract heat in the evaporator, as the system is under a vacuum. The thermal efficiency of a single-effect absorption system is low. Many new single-effect machines are installed in industries where waste heat is present in hefty amount. Single-effect chillers can be used to make chilled water for air conditioning and cooling process water and are present in capacities from 100 to 1,500 tonnes of refrigeration (TR).
Germany’s chemical industry comes number one in Europe. Businesses and research institutes invest substantially in research and development activities. This makes the sector a significant force for innovation. The chemical industry is working to create state-of-the-art technologies by developing new materials, high-performance chemicals, and plastics. The ever-growing chemical industry and its contribution towards the zero-emission targets set by many governments are anticipated to surge the usage of absorption chillers and thereby drive market growth in the region.
The Germany market dominated the Europe Absorption Chillers Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $104.5 million by 2028. The UK market is anticipated to grow at a CAGR of 3.1% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 4.7% during (2022 - 2028).
Based on Application, the market is segmented into Chemical, Oil & Gas, Food & Beverages and Others. Based on End User, the market is segmented into Industrial, Commercial and Residential. Based on Refrigerant Type, the market is segmented into Lithium Bromide and Ammonia. Based on Energy Source, the market is segmented into Hot Water Treated, Steam Heated and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Absorption Chillers Market will Hit $1.9 Billion by 2028, at a CAGR of 4.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LG Electronics (LG Corporation), Carrier Global Corporation, Thermax Limited, Hitachi, Ltd., Trane Technologies PLC, Johnson Controls International PLC, World Energy Co., Ltd., EAW Energieanlagenbau GmbH (WEGRA Anlagenbau GmbH), Yazaki Corporation, and Styne Group.
Scope of the Study
Market Segments Covered in the Report:
- Oil & Gas
- Food & Beverages
By End User
By Refrigerant Type
- Lithium Bromide
By Energy Source
- Hot Water Treated
- Steam Heated
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- LG Electronics (LG Corporation)
- Carrier Global Corporation
- Thermax Limited
- Hitachi, Ltd.
- Trane Technologies PLC
- Johnson Controls International PLC
- World Energy Co., Ltd.
- EAW Energieanlagenbau GmbH (WEGRA Anlagenbau GmbH)
- Yazaki Corporation
- Styne Group
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