Absorption Chillers Market
Absorption Chillers Market Size, Share & Trends Analysis Report by Technology (Single Stage and Double Stage), by Absorber Type (Lithium Bromide and Ammonia), by Power Source (Direct Fired, Indirect Fired, and Water Driven), and by Application (Chemicals, Food & Beverages, Power, Paper & Pulp, power & energy and Others), Forecast Period (2023-2030)
Absorption chillers market is anticipated to grow at a CAGR of 11.5% during the forecast period (2023-2030). The growing adoption of district cooling coupled with the improving network is the key factor supporting the growth of the market globally. Advanced district-cooling networks can pair heating and cooling services to increase the net efficiency and flexibility of the entire energy system. According to the International Energy Agency (IEA), district-cooling networks exist in a range of climates and countries such as Finland, Spain, China, and others. Qatar has the global largest district-cooling system, comprising 3 cooling plants covering the West Bay and the Pearl-Qatar districts in Doha with a combined capacity of 197,000 tons of refrigeration (690 megawatts [MW]) and a 4th plant under construction.
Furthermore, the free cooling chiller uses a microprocessor controller to ensure precise temperature control, as well as an integrated free cooling module that maximizes the use of ambient air. Thus, there is a considerable increase in demand as well as production of such absorption chillers around the globe. For instance, in May 2023, Delta T Systems launched the free cooling system, also known as a fluid cooler or dry cooler, applying ambient air to cool process fluid for a more environmentally friendly and cost-effective alternative to traditional refrigeration chillers.
District Cooling generation mix in 2015 (selected countries)
Source: International Renewable Energy Agency (IRENA)
Segmental Outlook
The global absorption chillers market is segmented on the technology, absorber type, power source, and application. Based on the technology, the market is sub-segmented into single-stage and double-stage. Based on the absorber type, the market is sub-segmented into lithium bromide and ammonia.
Based on the power source, the market is sub-segmented into direct-fired, indirect-fired, and water-driven. Further, on the basis of application, the market is sub-segmented into chemicals, food & beverages, power, paper & pulp, power & energy, and others (petroleum). The lithium bromide subcategory is expected to capture a significant portion of the market share within the absorber type segment. This is attributed to the utilization of lithium bromide as the absorbent in absorption chillers, which employ a chemical refrigeration cycle.
The Food & Beverages Sub-Segment is Anticipated to Hold a Considerable Share of the Global Absorption Chillers Market
Among the applications, the food & beverages sub-segment is expected to hold a considerable share of the global absorption chillers market. Absorption chiller can use various heat sources and there is also Gene-Link that utilizes waste heat from such as gas co-generation systems or manufacturing processes. The segmental growth is attributed to the growing influence of absorption chillers in vapor absorption technology, it uses waste heat from hot water, steam, and others from various industrial and non-industrial sources to move the refrigerant around the circuit of chillers. For instance, in November 2020, Atlas Copco launched its first process cooling chiller range in the US– the TCX 4-90A Process Cooling Chiller range (TCX range). The TCX chillers are specially designed for cooling water (or a mixture of water and glycol) for a wide range of industrial segments including food and beverage, machine cooling, medical, pharmaceutical, plastics, and printing.
Regional Outlook
The global absorption chillers market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America). Among these, Asia-Pacific is anticipated to hold a prominent share of the market across the globe, owing to the high growth potential of the manufacturing sector including food & beverages, petrochemical industries, pharmaceuticals, and others. Additionally, the region holds a strong presence key manufacturing companies such as Hitachi Appliances, Inc., Ebara Refrigeration Equipment & Systems Co., Ltd., and others.
Global Absorption Chillers Market Growth by Region 2023-2030
The North America Region is Expected to Grow at a Significant CAGR in the Global Absorption Chillers Market
Among all regions, the North America regions is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the rising consumption of energy especially for cooling in commercial, residential, and industrial facilities. This is the result of the surging number of geothermal, nuclear, and solar power plants in this region. Chillers are used in commercial buildings and industrial plants to provide air conditioning, refrigeration, and process fluid cooling. According to the US Energy Information Administration (EIA), in 2022, electricity use for cooling the interior of buildings (space cooling) by the U.S. residential and commercial sectors was about 409 billion kilowatthours (kWh), which was equal to about 10% of total estimated U.S. electricity consumption in 2022.
U.S. electricity consumption for space cooling in 2022
| Sector | Billion Kilowatthours | Share of sector’s total electricity use | Share of US total electricity use |
| Residential | 250 | 16% | 6% |
| Commercial | 159 | 12% | 4% |
| Total | 409 | 14% | 10% |
Source: U.S. Energy Information Administration (EIA)
Applications with significant year-round space conditioning loads include hospitals, hotels, large commercial office buildings, and college campuses. Sites that may require steady year-round cooling include manufacturing plants with process cooling needs, cold storage, warehouses, data centers, and district energy plants.
Market Players Outlook
The major companies serving the absorption chillers market include Thermax Inc., Johnson Controls International plc, Kirloskar Group, Yazaki Corp., Carrier Global Corp. and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in March 2023, Panasonic Corp. announced that at the end of February 2023, its Heating & Ventilation A/C Company completed the acquisition of all of the outstanding shares of Systemair AC SAS, Systemair S.r.l. and Tecnair S.p.A., that operate commercial air-conditioning businesses owned by Systemair AB ("Systemair"), a Swedish manufacturer of air quality and air-conditioning equipment.
The Report Covers
- Market value data analysis of 2022 and forecast to 2030.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global absorption chillers market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. By Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.2. Johnson Controls International plc
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Thermax Inc.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Yazaki Corp.
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Key Strategy Analysis
4. Market Segmentation
4.1. Global Absorption Chillers Market by Technology
4.1.1. Single Stage
4.1.2. Double Stage
4.2. Global Absorption Chillers Market by Absorber Type
4.2.1. Lithium Bromide
4.2.2. Ammonia
4.3. Global Absorption Chillers Market by Power Source
4.3.1. Direct Fired
4.3.2. Indirect Fired
4.3.3. Water Driven
4.4. Global Absorption Chillers Market by Application
4.4.1. Chemicals
4.4.2. Food & Beverages
4.4.3. Power
4.4.4. Paper & Pulp
4.4.5. Power & Energy
4.4.6. Others (Petroleum)
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Broad Air Conditioning Co., Ltd.
6.2. Carrier Corp.
6.3. Century Corp.
6.4. CNIM Group
6.5. Colibri-bv
6.6. EAW Energieanlagenbau GmbH
6.7. Ebara Refrigeration Equipment & Systems Co., Ltd.
6.8. Helioclim
6.9. Hitachi Appliances, Inc.
6.10. Johnson Controls International Plc
6.11. LG Electronics
6.12. Robur S.p.A.
6.13. Shuangliang Eco-Energy Systems Co., Ltd.
6.14. Trane Inc.
6.15. Worldenergy Absorption Chillers Europe Ltd.
1. GLOBAL ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
2. GLOBAL SINGLE STAGE ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
3. GLOBAL DOUBLE STAGE ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
4. GLOBAL ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY ABSORBER TYPE, 2022-2030 ($ MILLION)
5. GLOBAL LITHIUM BROMIDE-BASED ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
6. GLOBAL AMMONIA-BASED ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
7. GLOBAL ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY POWER SOURCE, 2022-2030 ($ MILLION)
8. GLOBAL DIRECT FIRED ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
9. GLOBAL INDIRECT FIRED ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
10. GLOBAL WATER DRIVEN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
11. GLOBAL ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
12. GLOBAL ABSORPTION CHILLERS IN CHEMICALS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
13. GLOBAL ABSORPTION CHILLERS IN FOOD & BEVERAGES MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
14. GLOBAL ABSORPTION CHILLERS IN POWER MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
15. GLOBAL ABSORPTION CHILLERS IN PAPER & PULP MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
16. GLOBAL ABSORPTION CHILLERS IN POWER & ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
17. GLOBAL ABSORPTION CHILLERS IN OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
18. GLOBAL ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022-2030 ($ MILLION)
19. NORTH AMERICAN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
20. NORTH AMERICAN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
21. NORTH AMERICAN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY ABSORBER TYPE, 2022-2030 ($ MILLION)
22. NORTH AMERICAN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY POWER SOURCE, 2022-2030 ($ MILLION)
23. NORTH AMERICAN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
24. EUROPEAN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
25. EUROPEAN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
26. EUROPEAN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY ABSORBER TYPE, 2022-2030 ($ MILLION)
27. EUROPEAN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY POWER SOURCE, 2022-2030 ($ MILLION)
28. EUROPEAN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
29. ASIA- PACIFIC ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
30. ASIA- PACIFIC ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
31. ASIA- PACIFIC ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY ABSORBER TYPE, 2022-2030 ($ MILLION)
32. ASIA- PACIFIC ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY POWER SOURCE, 2022-2030 ($ MILLION)
33. ASIA- PACIFIC ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
34. REST OF THE WORLD ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2022-2030 ($ MILLION)
35. REST OF THE WORLD ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022-2030 ($ MILLION)
36. REST OF THE WORLD ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY ABSORBER TYPE, 2022-2030 ($ MILLION)
37. REST OF THE WORLD ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY POWER SOURCE, 2022-2030 ($ MILLION)
38. REST OF THE WORLD ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022-2030 ($ MILLION)
1. GLOBAL ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY TECHNOLOGY, 2022 VS 2030 (%)
2. GLOBAL SINGLE STAGE ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
3. GLOBAL DOUBLE STAGE ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
4. GLOBAL ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY ABSORBER TYPE, 2022 VS 2030 (%)
5. GLOBAL LITHIUM BROMIDE-BASED ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
6. GLOBAL AMMONIA-BASED ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
7. GLOBAL ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY POWER SOURCE, 2022 VS 2030 (%)
8. GLOBAL DIRECT FIRED ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
9. GLOBAL INDIRECT FIRED ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
10. GLOBAL WATER DRIVEN ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
11. GLOBAL ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY APPLICATION, 2022 VS 2030 (%)
12. GLOBAL ABSORPTION CHILLERS IN CHEMICALS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
13. GLOBAL ABSORPTION CHILLERS IN FOOD & BEVERAGES MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
14. GLOBAL ABSORPTION CHILLERS IN POWER MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
15. GLOBAL ABSORPTION CHILLERS IN PAPER & PULP MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
16. GLOBAL ABSORPTION CHILLERS IN POWER & ENERGY MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
17. GLOBAL ABSORPTION CHILLERS IN OTHER APPLICATIONS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
18. GLOBAL ABSORPTION CHILLERS MARKET RESEARCH AND ANALYSIS BY REGION, 2022 VS 2030 (%)
19. US ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
20. CANADA ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
21. UK ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
22. FRANCE ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
23. GERMANY ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
24. ITALY ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
25. SPAIN ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
26. REST OF EUROPE ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
27. INDIA ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
28. CHINA ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
29. JAPAN ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
30. SOUTH KOREA ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
31. REST OF ASIA-PACIFIC ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
32. REST OF THE WORLD ABSORPTION CHILLERS MARKET SIZE, 2022-2030 ($ MILLION)
