PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1518506
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1518506
Absorption Cooling System Market Size - By Product Type, By Heat Source, By Cooling Capacity & Forecast 2024 - 2032
Global Absorption Cooling System Market will reach a 4.5% CAGR from 2024 to 2032 due to heightened efforts to reduce carbon footprints and prioritize energy-efficient cooling solutions. These systems, known for using eco-friendly refrigerants and consuming less energy compared to traditional methods, align with global sustainability goals. As industries and governments worldwide intensify their commitments to environmental stewardship, the demand for absorption cooling systems will rise. This trend reflects a shift towards more efficient and environmentally responsible cooling technologies across various sectors, driving market growth significantly.
For instance, in October 2023, Emerson introduced modular CO2 scroll refrigeration units for small and medium retail stores in Europe, enhancing refrigeration efficiency and sustainability. By leveraging CO2 (R744) refrigerants, known for their lower global warming potential compared to traditional alternatives, Emerson addresses both regulatory requirements and consumer preferences for eco-friendly solutions. This move is likely to spur further innovation and market growth, positioning absorption cooling systems as pivotal in sustainable retail refrigeration.
The absorption cooling system industry is classified based on device, end-user vertical, application, and region.
The lithium bromide-water absorption systems will experience marked growth through 2032, attributed to their efficient cooling capabilities and widespread application in commercial and industrial sectors. This technology excels at large-scale cooling requirements, offering energy efficiency and environmental sustainability compared to conventional compression systems. With growing emphasis on reducing carbon footprints and increasing energy savings, these systems are favored for their reliability in providing consistent cooling, making them the preferred choice in the market's landscape of sustainable cooling solutions.
The pharmaceuticals segment will witness a substantial uptick between 2024 and 2032, propelled by stringent temperature control requirements for storing drugs and vaccines. These systems offer precise and reliable cooling without the use of harmful refrigerants, aligning with global sustainability goals and regulatory standards. With the increasing demand for safe and efficient storage solutions in pharmaceutical logistics, absorption cooling systems stand out for their ability to maintain consistent temperatures, ensuring the integrity and efficacy of sensitive pharmaceutical products throughout the supply chain.
Europe absorption cooling system market share will demonstrate a decent CAGR from 2024 to 2032, driven by stringent environmental regulations and a strong focus on energy efficiency. The region's robust adoption of sustainable technologies and significant investments in renewable energy infrastructure bolster market growth. Moreover, increasing awareness and government initiatives supporting eco-friendly cooling solutions contribute to Europe's prominent position in the absorption cooling system industry as a key contributor to global adoption and innovation.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360 degree synopsis, 2021 - 2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.1.1 Factor affecting the value chain
- 3.1.2 Profit margin analysis
- 3.1.3 Disruptions
- 3.1.4 Future outlook
- 3.1.5 Manufacturers
- 3.1.6 Distributors
- 3.1.7 Retailors
- 3.2 Regulatory landscape
- 3.3 Impact forces
- 3.3.1 Growth drivers
- 3.3.1.1 Industrial expansion
- 3.3.1.2 Increasing adoption rate of solar-power absorption chillers
- 3.3.1.3 Increasing demand for cooling in commercial buildings, data centers, and industrial facilities
- 3.3.2 Industry pitfalls & challenges
- 3.3.2.1 High initial investments compared to conventional compression chillers
- 3.3.1 Growth drivers
- 3.4 Consumer buying behavior analysis
- 3.4.1 Demographic trends
- 3.4.2 Factors affecting buying decision
- 3.4.3 Consumer product adoption
- 3.4.4 Preferred distribution channel
- 3.4.5 Preferred price range
- 3.5 Growth potential analysis
- 3.6 Porter's analysis
- 3.7 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Introduction
- 4.2 Company market share analysis
- 4.3 Competitive positioning matrix
- 4.4 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Product Type, 2021 - 2032, (USD Million) (Thousand Units)
- 5.1 Key trends
- 5.2 Ammonia-water absorption systems
- 5.3 Lithium bromide-water absorption systems
- 5.4 Others
Chapter 6 Market Estimates & Forecast, By Heat Source, 2021 - 2032, (USD Million) (Thousand Units)
- 6.1 Key trends
- 6.2 Natural gas
- 6.3 Steam
- 6.4 Hot water
- 6.5 Waste heat
- 6.6 Solar energy
Chapter 7 Market Estimates & Forecast, By Cooling Capacity, 2021 - 2032, (USD Million) (Thousand Units)
- 7.1 Key trends
- 7.2 Small (below 100 tons)
- 7.3 Medium (100-500 tons)
- 7.4 Large (above 500 tons)
Chapter 8 Market Estimates & Forecast, By End Use, 2021 - 2032, (USD Million) (Thousand Units)
- 8.1 Key trends
- 8.2 Food & beverages
- 8.3 Pharmaceuticals
- 8.4 Chemical & petrochemicals
- 8.5 Power plants
- 8.6 Data centers
- 8.7 Waste water treatment
- 8.8 Others
Chapter 9 Market Estimates & Forecast, By Distribution Channel, 2021 - 2032, (USD Million) (Thousand Units)
- 9.1 Key trends
- 9.2 Direct sales
- 9.3 Indirect sales
Chapter 10 Market Estimates & Forecast, By Region, 2021 - 2032, (USD Million) (Thousand Units)
- 10.1 Key trends
- 10.2 North America
- 10.2.1 U.S.
- 10.2.2 Canada
- 10.3 Europe
- 10.3.1 Germany
- 10.3.2 UK
- 10.3.3 France
- 10.3.4 Italy
- 10.3.5 Spain
- 10.3.6 Rest of Europe
- 10.4 Asia Pacific
- 10.4.1 China
- 10.4.2 India
- 10.4.3 Japan
- 10.4.4 South Korea
- 10.4.5 Australia
- 10.4.6 Rest of Asia Pacific
- 10.5 Latin America
- 10.5.1 Brazil
- 10.5.2 Mexico
- 10.5.3 Rest of Latin America
- 10.6 MEA
- 10.6.1 UAE
- 10.6.2 Saudi Arabia
- 10.6.3 South Africa
- 10.6.4 Rest of MEA
Chapter 11 Company Profiles (Business Overview, Financial Data, Product Landscape, Strategic Outlook, SWOT Analysis)
- 11.1 Thermax Limited
- 11.2 Kirloskar Pneumatic Company Ltd
- 11.3 Trane Technologies plc
- 11.4 Johnson Controls, Inc.
- 11.5 Carrier Global Corporation
- 11.6 Robur Corporation
- 11.7 LG Electronics, Inc.
- 11.8 Shuangliang Eco-Energy Systems Co. Ltd.
- 11.9 Kawasaki Thermal Engineering Co., Ltd.,
- 11.10 Hyundai Climate Control Co.
- 11.11 Steyn Group
- 11.12 EBARA THERMAL SYSTEMS (THAILAND) CO., LTD.
- 11.13 Bry-Air (Asia) Pvt. Ltd.
- 11.14 Thermo Fisher Scientific Inc.
- 11.15 Midea Group
