Absorption Chillers Market, By Product, By Energy Source (Natural Gas, Steam, Hot Water, and Others ), By Application (Commercial, Industrial, Residential, and Others ), By Geography

Description

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

Product Code: CMI1464

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)
  - U.S.
  - Canada
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
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