Product Code: CMI1464
The Global Absorption Chillers Market is estimated to be valued at USD 1.43 Billion in 2024 and is expected to reach USD 2.01 Billion by 2031, exhibiting a compound annual growth rate (CAGR) of 5% from 2024 to 2031.
Report Coverage |
Report Details |
Base Year: |
2023 |
Market Size in 2024: |
US$ 1.43 Bn |
Historical Data for: |
2019 To 2023 |
Forecast Period: |
2024 To 2031 |
Forecast Period 2024 to 2031 CAGR: |
5.00% |
2031 Value Projection: |
US$ 2.01 Bn |
Figure. Absorption Chillers Market Share (%), By Region, 2024
Absorption chillers use heat as the driving energy source to produce chilled water for cooling and air conditioning. They have lower operating costs and Carbon footprint as compared to conventional electric chillers. Absorption chillers utilize water as the refrigerant and an absorbent liquid such as lithium bromide to facilitate the refrigeration cycle. The rising need for sustainable and eco-friendly cooling solutions across residential, commercial and industrial sectors is the key factor fueling the growth of the global absorption chillers market. With stringent regulations on ozone layer depletion and greenhouse gas emissions, absorption chillers are expected to garner more demand going forward.
Market Dynamics:
The global absorption chillers market is driven by the increasing deployment of energy efficient and eco-friendly cooling technologies. Government initiatives and incentives promoting renewable energy integrated heating and cooling are further propelling the market growth. However, high initial investment compared to electric chillers is a major factor hampering the wider adoption of absorption chillers. On the other hand, rising awareness about operational cost savings, lower maintenance needs and incentives provided by various nations create huge opportunities for absorption chillers manufacturers. Geothermal powered absorption chillers and organic fluid-based absorption chillers are expected to open new avenues for market players over the coming years.
Key features of the study:
This report provides in-depth analysis of the global absorption chillers market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global absorption chillers market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Broad Air Conditioning Co., Ltd., Carrier Corporation, EAW Energieanlagenbau GmbH, Ebara Corporation, Frigel Firenze S.p.A., Hitachi Appliances, Inc., Johnson Controls International plc, Kawasaki Thermal Engineering Co., Ltd., LG Electronics Inc., Robur Corporation, Shuangliang Eco-Energy Systems Co., Ltd., Shuangliang Clyde Bergemann GmbH, Thermax Limited, Trane Inc., and Yazaki Corporation
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global absorption chillers market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global absorption chillers market.
Detailed Segmentation:
- Product Insights (Revenue, USD Bn, 2019 - 2031)
- Single-Effect Absorption Chillers
- Double-Effect Absorption Chillers
- Triple-Effect Absorption Chillers
- Energy Source Insights (Revenue, USD Bn, 2019 - 2031)
- Natural Gas
- Steam
- Hot Water
- Others (Solar, Waste Heat, etc.)
- Application Insights (Revenue, USD Bn, 2019 - 2031)
- Commercial
- Industrial
- Residential
- Others (District Cooling, etc.)
- By Regional Insights (Revenue, USD Bn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
- Central Africa
- Key Players Insights
- Broad Air Conditioning Co., Ltd.
- Carrier Corporation
- EAW Energieanlagenbau GmbH
- Ebara Corporation
- Frigel Firenze S.p.A.
- Hitachi Appliances, Inc.
- Johnson Controls International plc
- Kawasaki Thermal Engineering Co., Ltd.
- LG Electronics Inc.
- Robur Corporation
- Shuangliang Eco-Energy Systems Co., Ltd.
- Shuangliang Clyde Bergemann GmbH
- Thermax Limited
- Trane Inc.
- Yazaki Corporation
Table of Contents
1. RESEARCH OBJECTIVES AND ASSUMPTIONS
- Research Objectives
- Assumptions
- Abbreviations
2. MARKET PURVIEW
- Report Description
- Market Definition and Scope
- Executive Summary
- Global Absorption Chillers Market, By Product
- Global Absorption Chillers Market, By Energy Source
- Global Absorption Chillers Market, By Application
3. MARKET DYNAMICS, REGULATIONS, AND TRENDS ANALYSIS
- Market Dynamics
- Impact Analysis
- Key Highlights
- Regulatory Scenario
- Product Launches/Approvals
- PEST Analysis
- PORTER's Analysis
- Merger and Acquisition Scenario
4. Global Absorption Chillers Market, By Product, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Single-Effect Absorption Chillers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Double-Effect Absorption Chillers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Triple-Effect Absorption Chillers
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
5. Global Absorption Chillers Market, By Energy Source, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Natural Gas
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Steam
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Hot Water
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others (Solar, Waste Heat, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
6. Global Absorption Chillers Market, By Application, 2019-2031, (USD Bn)
- Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
- Commercial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Industrial
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Residential
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
- Others (District Cooling, etc.)
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2019-2031, (USD Bn)
7. Global Absorption Chillers Market, By Region, 2019 - 2031, Value (USD Bn)
- Introduction
- Market Share (%) Analysis, 2024,2027 & 2031, Value (USD Bn)
- Market Y-o-Y Growth Analysis (%), 2019 - 2031, Value (USD Bn)
- Regional Trends
- North America
- Introduction
- Market Size and Forecast, By Product , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Energy Source , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country , 2019 - 2031, Value (USD Bn)
- Latin America
- Introduction
- Market Size and Forecast, By Product , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Energy Source , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country , 2019 - 2031, Value (USD Bn)
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Introduction
- Market Size and Forecast, By Product , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Energy Source , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country , 2019 - 2031, Value (USD Bn)
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- Introduction
- Market Size and Forecast, By Product , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Energy Source , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country , 2019 - 2031, Value (USD Bn)
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- Introduction
- Market Size and Forecast, By Product , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Energy Source , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country , 2019 - 2031, Value (USD Bn)
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- Introduction
- Market Size and Forecast, By Product , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Energy Source , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Application , 2019 - 2031, Value (USD Bn)
- Market Size and Forecast, By Country , 2019 - 2031, Value (USD Bn)
- South Africa
- North Africa
- Central Africa
8. COMPETITIVE LANDSCAPE
- Broad Air Conditioning Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Carrier Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- EAW Energieanlagenbau GmbH
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Ebara Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Frigel Firenze S.p.A.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Hitachi Appliances, Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Johnson Controls International plc
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Kawasaki Thermal Engineering Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- LG Electronics Inc.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Robur Corporation
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Shuangliang Eco-Energy Systems Co., Ltd.
- Company Highlights
- Product Portfolio
- Key Developments
- Financial Performance
- Strategies
- Shuangliang Clyde Bergemann GmbH
- Thermax Limited
- Trane Inc.
- Yazaki Corporation
9. Analyst Recommendations
- Wheel of Fortune
- Analyst View
- Coherent Opportunity Map
10. References and Research Methodology
- References
- Research Methodology
- About us