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Absorption Chillers Market Size, Share and Global Trend By Type (Steam Absorption Chillers, Hot Water Absorption Chillers, Direct-fired Absorption Chillers, Gas-fired Absorption Chillers), By Refrigerant Type (Ammonia, Lithium Bromide), By End User (Residential, Industrial, Commercial) and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI100906 | Status : Ongoing

 

KEY MARKET INSIGHTS

Absorption chillers use a distinct system from traditional chillers and are driven by heat rather than electricity, which could lead to significant gains ineffectiveness. The cooling mechanism is still evaporative — a fluid that transforms into a vapor — but there is a distinct reliquification. The vapor absorbed into a liquid form rather than being compressed. Generally, absorption chillers use waste heat from a turbine or water heater to generate energy. These chillers use a refrigerant with low boiling points such as ammonia and lithium bromide. Currently, the world market for absorption chillers is at a growing juncture as these cost-effective cooling technologies are becoming increasingly popular.


Major drivers on the world market for absorption chillers include different characteristics such as inaudible and vibration-free operation along with low maintenance and operating costs. Absorption chillers use several energy sources such as gas, water, or electricity to drive the cooling process. Due to the low operating prices, the use of absorption chillers in schools, hotels, hospitals, food trucks, etc. has increased significantly. Given that absorption chillers are environmentally friendly compared to standard vapor compressors due to lower pollutant and toxic gas emissions, strict public regulations on the use of absorption chillers are another critical driver of market growth.

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The global absorption chillers market is segmented into steam absorption chillers, hot water absorption, direct-fired, and gas-fired absorption chillers. The lithium bromide segment is anticipated to hold a prominent share in the worldwide market for absorption chillers as they have multiple characteristics such as cost-effectiveness, environmentally friendly, superior corrosion protection, robust machine design, low water temperature activities, etc. The industrial user highly uses chillers as absorption chillers help them to reduce their overall costs and enable them to meet their environmental targets.

Increasing demand for energy-efficient cooling solutions is expected to boost sector development. Furthermore, there is an estimated absence of electricity infrastructure in developing countries to increase the market size of absorption chillers. Also, characteristics such as long service life, reduced noise & vibration, maximization of energy saving, the possibility to balance loads & provides maximum efficiency, and minimizes the overall impact on the environment as the reduction in electricity will uplift the demand of absorption chillers in the market.

High system installation cost, along with a lack of consumer awareness accompanied by low efficiency offered by the system is likely to hinder demand. Besides, rising competition from centrifugal chillers is expected to impact the industry negatively. Some of the major restraint for absorption chillers are corrosive nature of lithium bromide, higher heat rejection, and low working pressure work which is likely to hinder the growth of the market.

Key Players Covered


Some of the major companies that are present in global absorption chillers market are Robur Corporation, Trane Inc., Carrier Corporation, LG Electronics, Inc., Thermax Limited, Shuangliang Eco-Energy Systems Co. Ltd., Kawasaki Thermal Engineering Co., Ltd., Hyundai Climate Control Co. Ltd., Yazaki Corporation, BROAD Group, EAW Energieanlagenbau GmbH, Colibri B.V., and Johnson Controls-Hitachi Air Conditioning.

SEGMENTATION 


























SEGMENTATION


 DETAILS


By Type


· Steam Absorption Chillers

· Hot Water Absorption Chillers

· Direct-fired Absorption Chillers

· Gas-fired Absorption Chillers


By Refrigerant Type


· Ammonia

· Lithium Bromide


By End-User


· Residential

· Industrial

· Commercial


By Geography


· North America (the USA and Canada)

· Europe (UK, Germany, France, Italy, Spain, Russia and Rest of Europe)

· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)

· Latin America (Brazil, Mexico, and Rest of Latin America)

· Middle East & Africa (South Africa, GCC, and Rest of the Middle East & Africa)


 

Regional Analysis


The global absorption chiller market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America absorption chillers market is anticipated to be a dominant player as the U.S. market for absorption chillers has strong demand owing to elevated concentrations of petroleum, processed food, and chemicals sectors in the region. European nations are expected to witness robust growth in the absorption chillers market due to steady demand from the frozen food sector along with the presence of a large number of industries in the region. Asia-Pacific is considered to be a significant player over the globe due to rising demand from developing markets, mainly China, India, and Indonesia. Furthermore, shortfalls in electricity along with improper distribution of power in developing nations are probable to fuel the region implementation of these devices. Latin America will experience moderate development due to increasing acceptance across different countries. Due to extensive use in the natural gas sector, the Middle East and Africa are anticipated to account for a prominent share in the revenues of absorption chillers.

Key Industry Developments



  • In Jan 2019, Thermax Limited has announced the opening of its new manufacturing plant in Andhra Pradesh, India. This plant was established with an investment of around US$ 24 million in stage one, capable of producing nearly 400 absorption chillers per year.

  • In Feb 2019, Ingersoll Rand, a world leader in developing pleasant, sustainable and effective environments, today announced the launch of OxboxTM, a fresh line of inexpensive, durable appliances for residential heating, ventilation and air conditioning (HVAC). Oxbox is a new brand endorsed by Trane that offers options for customers seeking affordable HVAC. The Oxbox portfolio includes air conditioning units, heat pumps, air handlers, coils, packaged units and furnaces that will be sold through new distribution.

  • In Apr 2019, As part of a £60 Mn refurbishment, the Biltmore Hotel in Mayfair London has chosen award-winning Carrier AquaForce Vision chillers. For their outstanding energy efficiency, reliability, environmental performance, low noise, decreased running and service expenses, and the high-quality indoor climate they provide for construction occupants, the inverter-driven screw chillers have been chosen.





  • Ongoing
  • 2023
  • 2019-2022

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