International. According to Global Industry Analysts, the global market for absorption-type chillers is expected to reach US$983 million by 2020, driven by stringent environmental protection standards and growing demand for energy-efficient refrigeration systems.
Asia-Pacific represents the largest and fastest growing market across the globe with a compound annual growth rate (CAGR) of 4.5% during the analysis period. Although already an important market, Asia-Pacific still offers huge untapped market potential for absorption-type chillers, especially in Tier II and Tier III cities.
With investments in energy efficiency technologies poised to grow above 18% annually, China is expected to lead the demand for energy-efficient absorption-type chillers worldwide.
According to the study, key players covered in the report include Broad Air Conditioning Co. Ltd., Carrier Corporation, Century Corporation, EAW Energieanlagenbau GmbH, Hitachi Appliances Inc., Johnson Controls, LG Air Conditioning (Shandong) Co. Ltd., Shuangliang Eco-Energy Systems Co. Ltd. (China), Robur Corporation, Thermax Inc., Trane Inc., and Yazaki Energy Systems Inc., among others.
