LONDON--(BUSINESS WIRE)--Technavio has been monitoring the global absorption chillers market since 2016 and the market is poised to grow by USD 200.35 million during 2019-2023, progressing at a CAGR of close to 4% during the forecast period.
“Absorption chillers offer numerous benefits over conventional chillers, which include the ability to integrate with CHP generation and district cooling infrastructure, low noise levels, and improved efficiency. These factors have increased their appeal in the industrial sector, as they enable industrial users to meet their environmental targets,” says a senior analyst at Technavio. Request Free Sample Pages.
The market is driven by the growing adoption of district heating and cooling infrastructure. In addition, the growing use of absorption chillers across various industries is anticipated to further boost the growth of the absorption chillers market.
District cooling is replacing the traditional air-cooling methods, owing to its numerous advantages such as energy-saving, minimal maintenance requirement, and reduced environmental damage. Absorption chillers are commonly used in district cooling plants, which can process and cool massive amount of water. Thus, the growing adoption of district heating and cooling infrastructure is one of the primary factors that will drive the absorption chillers market.