The global absorption chillers market size was US$ 1,485.9 million in 2021 and is expected to reach a valuation of US$ 2,263.7 million by 2031, registering a CAGR of 4.2% from the forecast period from 2022 to 2031.
An absorption chiller is a piece of equipment used in commercial, residential, and industrial buildings for air conditioning, refrigeration, and process cooling. Absorption chillers transfer the refrigerant around the circuit of chillers by the principles of vapor absorption technology. In addition, it utilizes waste heat from hot water, steam, and other sources from both industrial and non-industrial sources. Direct-fired absorption chillers, which use direct flames produced by oil or gas to contribute energy to the system, are also offered on the market.
Factors Affecting the Global Market Growth
Impact Analysis of COVID-19
The COVID-19 outbreak has significantly hindered the absorption chillers market. Food and beverage producers, drug manufacturers, and other industrial and commercial establishments were among the end-users of absorption chillers that suffered the most. However, the severity of the pandemic has greatly decreased two years after the COVID-19 outbreak and the introduction of immunizations, and major market participants are recovering quickly. On the other hand, COVID-19 outbreaks, particularly in China, may temporarily harm the market.
Regional Analysis
LAMEA is likely to maintain its top spot during the forecast period due to the region's high growth potential in the manufacturing sector, which includes food and beverage, petrochemical, pharmaceutical, and other industries.
Asia-Pacific held the largest market share for absorption chillers in 2021. A few of the key industrial hubs in Asia-Pacific are fast-developing nations like India, China, and Vietnam due to the availability of cheap and trained labor and government backing. Therefore, key firms are working hard to establish manufacturing facilities in these regions in order to increase production levels and support the Asia-Pacific industries. In hot climate nations like China, India, and Indonesia, demand for comfort cooling equipment is likely to increase significantly.
Leading Companies
Some of the prominent competitors in the global absorption chillers market are:
Segmentation Outline
The global absorption chillers market segmentation focuses on Refrigerant Type, Energy Source, Application, End-User, and Region.
By Refrigerant Type
By Energy Source
By Application
By End-User
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL ABSORPTION CHILLERS MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: ABSORPTION CHILLERS MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL ABSORPTION CHILLERS MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL ABSORPTION CHILLERS MARKET, BY REFRIGERANT TYPE
5.1 OVERVIEW
5.2 AMMONIA
5.3 LITHIUM BROMIDE
6 GLOBAL ABSORPTION CHILLERS MARKET, BY ENERGY SOURCE
6.1 OVERVIEW
6.2 HOT WATER TREATED
6.3 STEAM HEATED
6.4 OTHERS
7 GLOBAL ABSORPTION CHILLERS MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 FOOD AND BEVERAGES
7.3 OIL AND GAS
7.4 CHEMICAL
7.5 OTHERS
8 GLOBAL ABSORPTION CHILLERS MARKET, BY END-USER
8.1 OVERVIEW
8.2 RESIDENTIAL
8.3 COMMERCIAL
8.4 INDUSTRIAL
9 GLOBAL ABSORPTION CHILLERS MARKET, BY GEOGRAPHY
9.1 OVERVIEW
9.2 NORTH AMERICA
9.2.1 NORTH AMERICA MARKET SNAPSHOT
9.2.2 U.S.
9.2.3 CANADA
9.2.4 MEXICO
9.3 EUROPE
9.3.1 EUROPE MARKET SNAPSHOT
9.3.2 WESTERN EUROPE
9.3.2.1 THE UK
9.3.2.2 GERMANY
9.3.2.3 FRANCE
9.3.2.4 ITALY
9.3.2.5 SPAIN
9.3.2.6 REST OF WESTERN EUROPE
9.3.3 EASTERN EUROPE
9.3.3.1 POLAND
9.3.3.2 RUSSIA
9.3.3.3 REST OF EASTERN EUROPE
9.4 ASIA PACIFIC
9.4.1 ASIA PACIFIC MARKET SNAPSHOT
9.4.2 CHINA
9.4.3 JAPAN
9.4.4 INDIA
9.4.5 AUSTRALIA & NEW ZEALAND
9.4.6 ASEAN
9.4.7 REST OF ASIA PACIFIC
9.5 MIDDLE EAST & AFRICA
9.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
9.5.2 UAE
9.5.3 SAUDI ARABIA
9.5.4 SOUTH AFRICA
9.5.5 REST OF MEA
9.6 SOUTH AMERICA
9.6.1 SOUTH AMERICA MARKET SNAPSHOT
9.6.2 BRAZIL
9.6.3 ARGENTINA
9.6.4 REST OF SOUTH AMERICA
10 GLOBAL ABSORPTION CHILLERS MARKET COMPETITIVE LANDSCAPE
10.1 OVERVIEW
10.2 COMPANY MARKET RANKING
10.3 KEY DEVELOPMENT STRATEGIES
10.4 COMPETITIVE DASHBOARD
10.5 PRODUCT MAPPING
10.6 TOP PLAYER POSITIONING, 2022
10.7 COMPETITIVE HEATMAP
10.8 TOP WINNING STRATEGIES
11 COMPANY PROFILES
11.1 CARRIER GLOBAL CORPORATION
11.1.1 OVERVIEW
11.1.2 FINANCIAL PERFORMANCE
11.1.3 PRODUCT OUTLOOK
11.1.4 KEY DEVELOPMENTS
11.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.2 CENTURY CORPORATION
11.2.1 OVERVIEW
11.2.2 FINANCIAL PERFORMANCE
11.2.3 PRODUCT OUTLOOK
11.2.4 KEY DEVELOPMENTS
11.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.3 EAW ENERGIEANLAGENBAU GMBH
11.3.1 OVERVIEW
11.3.2 FINANCIAL PERFORMANCE
11.3.3 PRODUCT OUTLOOK
11.3.4 KEY DEVELOPMENTS
11.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.4 YAZAKI CORPORATION (YAZAKI ENERGY SYSTEMS, INC.)
11.4.1 OVERVIEW
11.4.2 FINANCIAL PERFORMANCE
11.4.3 PRODUCT OUTLOOK
11.4.4 KEY DEVELOPMENTS
11.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.5 WORLD ENERGY CO., LTD.
11.5.1 OVERVIEW
11.5.2 FINANCIAL PERFORMANCE
11.5.3 PRODUCT OUTLOOK
11.5.4 KEY DEVELOPMENTS
11.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.6 KIRLOSKAR GROUP
11.6.1 OVERVIEW
11.6.2 FINANCIAL PERFORMANCE
11.6.3 PRODUCT OUTLOOK
11.6.4 KEY DEVELOPMENTS
11.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.7 STYNE GROUP
11.7.1 OVERVIEW
11.7.2 FINANCIAL PERFORMANCE
11.7.3 PRODUCT OUTLOOK
11.7.4 KEY DEVELOPMENTS
11.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.8. HITACHI LTD.
11.8.1 OVERVIEW
11.8.2 FINANCIAL PERFORMANCE
11.8.3 PRODUCT OUTLOOK
11.8.4 KEY DEVELOPMENTS
11.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.9 THERMAX LIMITED
11.9.1 OVERVIEW
11.9.2 FINANCIAL PERFORMANCE
11.9.3 PRODUCT OUTLOOK
11.9.4 KEY DEVELOPMENTS
11.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.10 LG ELECTRONICS INC.
11.10.1 OVERVIEW
11.10.2 FINANCIAL PERFORMANCE
11.10.3 PRODUCT OUTLOOK
11.10.4 KEY DEVELOPMENTS
11.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.11 JOHNSON CONTROLS INTERNATIONAL PLC
11.11.1 OVERVIEW
11.11.2 FINANCIAL PERFORMANCE
11.11.3 PRODUCT OUTLOOK
11.11.4 KEY DEVELOPMENTS
11.11.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.12 SHUANGLIANG ECO-ENERGY SYSTEMS COMPANY LTD.
11.12.1 OVERVIEW
11.12.2 FINANCIAL PERFORMANCE
11.12.3 PRODUCT OUTLOOK
11.12.4 KEY DEVELOPMENTS
11.12.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.13 BROAD U.S.A. INC.
11.13.1 OVERVIEW
11.13.2 FINANCIAL PERFORMANCE
11.13.3 PRODUCT OUTLOOK
11.13.4 KEY DEVELOPMENTS
11.13.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.14 BRY-AIR (ASIA) PVT. LTD.
11.14.1 OVERVIEW
11.14.2 FINANCIAL PERFORMANCE
11.14.3 PRODUCT OUTLOOK
11.14.4 KEY DEVELOPMENTS
11.14.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.15 SHINSUNG ENGINEERING
11.15.1 OVERVIEW
11.15.2 FINANCIAL PERFORMANCE
11.15.3 PRODUCT OUTLOOK
11.15.4 KEY DEVELOPMENTS
11.15.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.16 HEINEN AND HOPMAN
11.16.1 OVERVIEW
11.16.2 FINANCIAL PERFORMANCE
11.16.3 PRODUCT OUTLOOK
11.16.4 KEY DEVELOPMENTS
11.16.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.17 TRANE
11.17.1 OVERVIEW
11.17.2 FINANCIAL PERFORMANCE
11.17.3 PRODUCT OUTLOOK
11.17.4 KEY DEVELOPMENTS
11.17.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.18 KAWASAKI THERMAL ENGINEERING CO., LTD.
11.18.1 OVERVIEW
11.18.2 FINANCIAL PERFORMANCE
11.18.3 PRODUCT OUTLOOK
11.18.4 KEY DEVELOPMENTS
11.18.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
11.19 AGO AG ENERGIE + ANLAGEN
11.19.1 OVERVIEW
11.19.2 FINANCIAL PERFORMANCE
11.19.3 PRODUCT OUTLOOK
11.19.4 KEY DEVELOPMENTS
11.19.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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