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Absorption Chillers - Global Strategic Business Report

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    Report

  • 267 Pages
  • May 2024
  • Region: Global
  • Global Industry Analysts, Inc
  • ID: 1882071
The global market for Absorption Chillers is estimated at US$1.5 Billion in 2023 and is projected to reach US$1.7 Billion by 2030, growing at a CAGR of 1.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.

Key Insights:

  • Market Growth: Understand the significant growth trajectory of the HVAC Application segment, which is expected to reach US$1 Billion by 2030 with a CAGR of -0.2%. The Industrial Application segment is also set to grow at 3.8% CAGR over the next 7 years.
  • Regional Analysis: Gain insights into the U.S. market, estimated at $405.4 Million in 2023, and China, forecasted to grow at an impressive 2.1% CAGR to reach $333.3 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.

Why You Should Buy This Report:

  • Detailed Market Analysis: Access a thorough analysis of the Global Absorption Chillers Market, covering all major geographic regions and market segments.
  • Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
  • Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Absorption Chillers Market.
  • Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.

Key Questions Answered:

  • How is the Global Absorption Chillers Market expected to evolve by 2030?
  • What are the main drivers and restraints affecting the market?
  • Which market segments will grow the most over the forecast period?
  • How will market shares for different regions and segments change by 2030?
  • Who are the leading players in the market, and what are their prospects?

Report Features:

  • Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
  • In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
  • Company Profiles: Coverage of major players such as Carrier Corporation, Century Corporation, CNIM Group, and more.
  • Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.

Select Competitors (Total 29 Featured):

  • Carrier Corporation
  • Century Corporation
  • CNIM Group
  • Colibri-bv
  • EAW Energieanlagenbau GmbH
  • Ebara Refrigeration Equipment & Systems Co., Ltd.
  • Hitachi Appliances Inc.
  • Johnson Controls
  • LG Electronics
  • Robur SpA
  • Shuangliang Eco-Energy Systems Co., Ltd.
  • Thermax Limited
  • Trane Inc.
  • Yazaki Energy Systems Inc.

MarketGlass Platform

Our reports are enhanced by the MarketGlass platform, which brings together industry experts and influencers to provide high-quality, accurate insights. This unique platform allows us to gather comprehensive data and market perspectives, ensuring you receive the most reliable and detailed analysis available.

Table of Contents

I. METHODOLOGYII. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
  • Influencer Market Insights
  • World Market Trajectories
  • Absorption Chillers: Providing Eco-friendly and Useful Cooling through Re-use of Low Temperature Waste Energy
  • Recent Market Activity
  • The Urgent Need to Replace Compressor-Based Cooling Systems Drive Widespread Adoption
  • Absorption Chillers Superiority over Traditional Compression Chillers
  • Market Fortunes Intrinsically Tied to the Overall Chillers Market Dynamics
  • Global Market Outlook
  • Asia-Pacific Continues to Dominate the Global Market, Also Offers Significant Growth Opportunities
  • Continued Recovery in Global GDP & Manufacturing PMI Signals Optimistic Outlook
  • Despite Slowdown in Economic Growth, China Continues to Dominate Global Sales of Absorption Chillers
  • Absorption Chillers - Global Key Competitors Percentage Market Share in 2024 (E)
  • Global Economic Update
  • Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
2. FOCUS ON SELECT PLAYERS
  • Broad Air Conditioning Co., Ltd. (China)
  • Carrier Corporation (USA)
  • Century Corporation (Korea)
  • CNIM Group (France)
  • Colibri-bv (The Netherlands)
  • EAW Energieanlagenbau GmbH (Germany)
  • Ebara Refrigeration Equipment & Systems Co., Ltd. (Japan)
  • Hitachi Appliances, Inc. (Japan)
  • Johnson Controls International Plc (Ireland)
  • LG Electronics (Korea)
  • Shuangliang Eco-Energy Systems Co., Ltd. (China)
  • Robur S.p.A. (Italy)
  • Thermax Limited (India)
  • Thermax Inc. (USA)
  • Trane Inc. (USA)
  • Worldenergy Absorption Chillers Europe Ltd. (Ireland/Korea)
  • Yazaki Energy Systems Inc. (USA)
3. MARKET TRENDS & DRIVERS
  • Focus on Achieving Energy Efficiencies Make Absorption Chillers the Perfect Candidate for CHP/Cogeneration Systems
  • Lower Operational Costs and Better Power Reliability Spur Demand for Absorption Chiller Based CHP in Data Centers
  • Growth Drivers
  • Growth Restraints
  • Steady Demand from Various End-use Applications Drive Healthy Market Growth for Absorption Chillers
  • Sophisticated Technologies for Absorption Chillers Improve Maintainability, Efficiency, and Flexibility
  • Absorption Chillers Provide a ‘Green’ Strategy for Various Industries
  • Growing Adoption of Trigeneration and Quattrogeneration Technologies Benefit Market Expansion
  • Lithium Bromide Absorption Chillers: Preferred Cooling Solution for Trigeneration Systems
  • Rise in Electricity Usage for Industrial, Commercial, and Residential Cooling Drives Demand for the Energy-Efficient Absorption Chillers
  • Environmental Concerns Drive Business Case for Absorption Chillers
  • Kyoto Protocol Implementation Augurs Well for Solar & Waste Heat Powered Chillers
  • Indirect Fired Absorption Chillers: The Best Bet for Environmental Cause
  • Favorable Government Initiatives & Regulatory Measures Lends Traction to Market Adoption
  • Surging Energy Consumption Propels Demand for Absorption Chillers
  • Focus on Reducing Energy Costs Bodes Well for Absorption Chillers
  • Urbanization: A Mega Trend Spurring Demand for Cooling Solutions
  • Industry Promotional & Marketing Efforts Benefit the Market
  • Demonstration Projects: A Launch Pad for Absorption Chillers
  • Training and Marketing Initiatives to Foster Awareness Levels
  • Other initiatives
  • Key Concerns & Challenges Hampering Market Prospects for Absorption Chillers
  • Stiff Competition from Popular Chiller Categories
  • Robust Increase in Sales of Centrifugal Chillers
  • Lack of Awareness
  • High Cost
  • Less Efficient in Comparison with Mechanical Chillers
  • Low Thermal Efficiency of Single Effect Systems
  • Requirement of Higher Pump Energy
  • Necessitates Larger Cooling Tower
  • Risks Due to Air Leaks
  • Crystallization
  • High Costs of Manufacturing
  • Other Concerns
  • INNOVATIONS & ADVANCEMENTS
  • Two-Step E/A Technology Enhance Performance of Single Effect and Double Effect Absorption Chillers
  • Smart Chillers: A Key Enabler of Connected Buildings
  • Biomass-Powered Thermochiller
  • Small Size Ammonia Water Absorption Chillers with Higher COP
  • Water-Cooled Technology Lowers Operational Costs
  • Triple-Effect Absorption Chillers: An Upcoming Technology
  • Modular Micro-Channel Chillers Provide Significant Energy Savings
  • Compact Absorption Chillers
4. GLOBAL MARKET PERSPECTIVE
  • Table 1: World Recent Past, Current & Future Analysis for Absorption Chillers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 2: World 7-Year Perspective for Absorption Chillers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets for Years 2024 & 2030
  • Table 3: World Recent Past, Current & Future Analysis for Absorption Chillers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 4: World 7-Year Perspective for Absorption Chillers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2024 & 2030
  • Table 5: World Recent Past, Current & Future Analysis for HVAC by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 6: World 7-Year Perspective for HVAC by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2024 & 2030
  • Table 7: World Recent Past, Current & Future Analysis for Industrial by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 8: World 7-Year Perspective for Industrial by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East and Africa for Years 2024 & 2030
  • Table 9: World Absorption Chillers Market Analysis of Annual Sales in US$ Thousand for Years 2014 through 2030
III. MARKET ANALYSIS
UNITED STATES
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United States for 2024 (E)
  • Table 10: USA Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 11: USA 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 12: USA Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 13: USA 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
CANADA
  • Table 14: Canada Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 15: Canada 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 16: Canada Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 17: Canada 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
JAPAN
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Japan for 2024 (E)
  • Table 18: Japan Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 19: Japan 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 20: Japan Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 21: Japan 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
CHINA
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in China for 2024 (E)
  • Table 22: China Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 23: China 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 24: China Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 25: China 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
EUROPE
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Europe for 2024 (E)
  • Table 26: Europe Recent Past, Current & Future Analysis for Absorption Chillers by Geographic Region - France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 27: Europe 7-Year Perspective for Absorption Chillers by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK, Spain, Russia and Rest of Europe Markets for Years 2024 & 2030
  • Table 28: Europe Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 29: Europe 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 30: Europe Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 31: Europe 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
FRANCE
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in France for 2024 (E)
  • Table 32: France Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 33: France 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 34: France Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 35: France 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
GERMANY
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Germany for 2024 (E)
  • Table 36: Germany Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 37: Germany 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 38: Germany Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 39: Germany 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
ITALY
  • Table 40: Italy Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 41: Italy 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 42: Italy Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 43: Italy 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
UNITED KINGDOM
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in the United Kingdom for 2024 (E)
  • Table 44: UK Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 45: UK 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 46: UK Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 47: UK 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
SPAIN
  • Table 48: Spain Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 49: Spain 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 50: Spain Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 51: Spain 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
RUSSIA
  • Table 52: Russia Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 53: Russia 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 54: Russia Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 55: Russia 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
REST OF EUROPE
  • Table 56: Rest of Europe Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 57: Rest of Europe 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 58: Rest of Europe Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 59: Rest of Europe 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
ASIA-PACIFIC
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Asia-Pacific for 2024 (E)
  • Table 60: Asia-Pacific Recent Past, Current & Future Analysis for Absorption Chillers by Geographic Region - Australia, India, South Korea and Rest of Asia-Pacific Markets - Independent Analysis of Annual Sales in US$ Thousand for Years 2023 through 2030 and % CAGR
  • Table 61: Asia-Pacific 7-Year Perspective for Absorption Chillers by Geographic Region - Percentage Breakdown of Value Sales for Australia, India, South Korea and Rest of Asia-Pacific Markets for Years 2024 & 2030
  • Table 62: Asia-Pacific Recent Past, Current & Future Analysis for Absorption Chillers by Segment - Absorption Chillers - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 63: Asia-Pacific 7-Year Perspective for Absorption Chillers by Segment - Percentage Breakdown of Value Sales for Absorption Chillers for the Years 2024 & 2030
  • Table 64: Asia-Pacific Recent Past, Current & Future Analysis for Absorption Chillers by Application - HVAC and Industrial - Independent Analysis of Annual Sales in US$ Thousand for the Years 2023 through 2030 and % CAGR
  • Table 65: Asia-Pacific 7-Year Perspective for Absorption Chillers by Application - Percentage Breakdown of Value Sales for HVAC and Industrial for the Years 2024 & 2030
AUSTRALIA
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Australia for 2024 (E)
INDIA
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in India for 2024 (E)
SOUTH KOREAREST OF ASIA-PACIFIC
LATIN AMERICA
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Latin America for 2024 (E)
ARGENTINABRAZILMEXICOREST OF LATIN AMERICA
MIDDLE EAST
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Middle East for 2024 (E)
IRANISRAELSAUDI ARABIAUNITED ARAB EMIRATESREST OF MIDDLE EAST
AFRICA
  • Absorption Chillers Market Presence - Strong/Active/Niche/Trivial - Key Competitors in Africa for 2024 (E)
IV. COMPETITION

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Carrier Corporation
  • Century Corporation
  • CNIM Group
  • Colibri-bv
  • EAW Energieanlagenbau GmbH
  • Ebara Refrigeration Equipment & Systems Co., Ltd.
  • Hitachi Appliances Inc.
  • Johnson Controls
  • LG Electronics
  • Robur SpA
  • Shuangliang Eco-Energy Systems Co., Ltd.
  • Thermax Limited
  • Trane Inc.
  • Yazaki Energy Systems Inc.

Table Information