4. Absorption systems market

The market for absorption systems is dynamic, with an annual growth rate of around 4%. In 2018, according to Persistence's market outlook study carried out before the coronavirus pandemic, the global market by volume corresponded to 13,000 units worth $1,300 million (compared with 11,000 units and $1,100 million respectively in 2014). The absorption chiller market corresponds to 12% of the global chiller market, which stood at $9,500 million in 2018 and is growing at an annual rate of just over 4%. Single-acting absorption systems account for 17.5% of this global market, compared with 82.5% for double-acting systems. Asia (with 3,515 units sold in 2018...