The Absorption Chillers Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Absorption Chillers market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Absorption Chillers. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2032. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The global absorption chillers market is expected to be valued at US$ 1,532.7 Million in 2022 and expected to reach US$ 2,376.8 Million by 2032. A CAGR worth 4.5% is expected for the market during the 2022-2032 forecast period.
A chiller, also known as an absorption chiller, is a thermally powered refrigeration system that uses a sorbent solution or a liquid refrigerant and a heat source to provide cooling to buildings. These absorption chillers use less energy than traditional absorption chillers such as electronic absorption chillers and industrial equipment, and they cool buildings without using ozone-depleting chlorofluorocarbons (CFCs).
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Furthermore, absorption chillers use heat energy to pump with the least amount of mechanical energy, and they can be powered by steam, hot water, natural gas, or wastewater. There are two types of commercial absorption chillers: single-stage and double-stage systems. A one-stage system employs a single condenser and generator.
Because of the increased popularity of these low-cost cooling solutions, the global absorption chillers market is currently expanding. Various characteristics such as inaudible and vibration-free operation, as well as low maintenance and operational costs, are major market drivers for absorption chillers. Furthermore, rising popularity in the industrial sector, particularly the petrochemical industry, is expected to drive market expansion throughout the forecast period.
In 2022, commercial absorption chillers are expected to account for 44.6% of global revenue. Absorption chillers are used in commercial buildings such as corporate offices, educational institutions, public buildings, data centers, healthcare facilities, and warehouses to keep the temperature stable during hot weather.
Absorption chillers are used to cool the heat generated in high-density enclosed rooms in data centers. The requirement to maintain a constant temperature, humidity, air purity, and air circulation within data centers to avoid downtime and equipment failure is predicted to boost commercial product adoption during the forecast period.
In terms of market share and revenue, the North American market is expected to flourish steadily during the projection period of 2022-2032. The analysts at Future Market Insights predict that by 2022, the market of absorption chillers in North America is expected to acquire a global market size of 23.4%.
Key Companies Profiled:
- Thermax Ltd
- Helioclim
- MultiChill Technologies Inc.
- Kirloskar Pneumatic Company Ltd
- World Energy Absorption Chillers Europe Ltd
- LG Air Conditioning (Shandong) Co. Ltd.
- Johnson Controls, Inc.
- Hitachi Appliances Inc.
- EAW Energieanlagenbau GmbH
- Carrier Corporation
- Century Corporation
- Yazaki Energy Systems Inc.
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Key Segments Covered in the Absorption Chillers Industry Analysis
By Source of Energy:
- Direct Fired Absorption Chillers
- Steam-heated Absorption Chillers
- Hot Water Heated Absorption Chillers
- Gaseous Fuels powered Absorption Chillers
By Refrigerant:
- Ammonia Absorption Chillers
- Lithium Bromide (Brine) Absorption Chillers
By Packaging:
- Modular Absorption Chillers
- Packaged Absorption Chillers
Absorption Chillers Market by Application:
- Absorption Chillers for Food Storage
- Absorption Chillers for Air Conditioning
By End Use:
- Absorption Chillers for Industrial Use
- Absorption Chillers for Commercial Use
- Absorption Chillers for Residential Use
By Region:
- North America Absorption Chillers Market
- Latin America Absorption Chillers Market
- Europe Absorption Chillers Market
- Asia Pacific Absorption Chillers Market
- Middle East & Africa Absorption Chillers Market
About Future Market Insights (FMI)
Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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