Absorption Chillers Market, By Product (Single-Effect Absorption Chillers, Double-Effect Absorption Chillers, and Triple-Effect Absorption Chillers), By Energy Source (Natural Gas, Steam, Hot Water, and Others (Solar, Waste Heat, etc.)), By Application (C

Absorption Chillers Market, By Product (Single-Effect Absorption Chillers, Double-Effect Absorption Chillers, and Triple-Effect Absorption Chillers), By Energy Source (Natural Gas, Steam, Hot Water, and Others (Solar, Waste Heat, etc.)), By Application (Commercial, Industrial, Residential, and Others (District Cooling, etc.)), By Geography (North America, Latin America, Asia Pacific, Europe, Middle East, and Africa)

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