Europe Absorption Chiller Market – Growth & Forecast (2024 – 2032)

An absorption refrigerator is a refrigerator that avails a heat source to contribute the energy required to boost the cooling process. Absorption refrigerators are often availed for food storage in recreational vehicles. The principle can also be used to air-condition buildings using the waste heat from a gas turbine or water heater. Using desolated heat from a gas turbine makes the turbine very efficient because it first produces electricity, then hot water, and finally, air-conditioning. Absorption chillers have proven to be optimal replacements for compressor chillers in places where power is unreliable, unavailable or costly, where waste heat is available, or where restrictions on noise deem compressor chillers useless.

Europe Absorption Chiller Market Segments Size & Growth:

Europe Absorption Chiller Market size is projected to reach approximately $XX billion by the end of 2024 with a CAGR of close to XX% from $XX billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include raising awareness about energy-efficient products, lower operational & maintenance costs, increased consumption of frozen foods, and growth in commercial & industrial sectors. However, High set-up cost and low-efficiency rates, and competition from the centrifugal chiller industry are thereby hampering the market growth. Rapid Growth of Absorption Chillers in Commercial Sector & Data Centres provides a great opportunity for increasing the market share.

Europe Absorption Chiller Market Segments Share:

Europe Absorption Chiller Market is categorised into technology which comprises a single stage, and double stage. By absorber type, the market is segmented into lithium bromide and ammonia. By power source, the market is segmented into direct fired, indirect fired, water driven. By End-Users, the market is segmented into non-industrial, and industrial. Hospitals, large retail, offices, and theatres in the commercial sector need various types of chillers. Plastic, baking, food, pharmaceutical, and printing industries are the major industrial consumers that use chillers for various processes. Increase in some working women has led to increased adoption of frozen foods owing to time constraints and ease of cooking. This increasing trend towards frozen foods is facilitating the demand for chillers in the food processing industry.

By Geography, Europe is a highly profitable region for absorption chillers, owing to strong adoption from the region’s food processing and petroleum industries. UK and Germany are projected to be the most lucrative market for absorption chillers, with sales revenue in France expected to register CAGRs of 6.5% respectively over the forecast period. Absorption chillers consumption in the European region increased to a small extent yet witnessed a growth rate of 6.4% outperforming many countries in Europe.

Europe Absorption Chiller Market Trends:

• The latest development in absorption chiller is a 100 kW cooling capacity chiller, with technical choices between the two first prototypes, but design to provide cooling effect at temperatures suitable for air-conditioning to ice making.

Europe Absorption Chiller Market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The major market players, such as

• Samsung Group
• Carrier Corporation
• EAW Energieanlagenbau GmbH
• Hyundai Climate Control Co., Ltd.
• Robur Group

Along with these companies, there were many other companies considered/cited in the report while analysing the Europe Absorption Chiller Market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.