Absorption Chillers Market Sales Are Expected To Flourish At A CAGR Of 4.5% From 2022 To 2032

The market for absorption chillers is anticipated to be worth US$ 1,532. 7 million in 2022 and US$ 2,376. 8 million by 2032. During the forecast period of 2022-2032, the market is anticipated to grow at a CAGR of 4.5%.

A chiller, also called an absorption chiller, is a thermally powered refrigeration system that uses a heat source and a liquid refrigerant to cool down buildings. These absorption chillers use less energy than common absorption chillers, such as electronic absorption chillers and industrial machinery, and they don't use chlorofluorocarbons, which harm the ozone, to cool buildings (CFCs).

Additionally, absorption chillers can be powered by steam, hot water, natural gas, or waste water and use heat energy to pump with the least amount of mechanical energy. Single-stage and double-stage systems are the two categories into which commercial absorption chillers are divided. In a one-stage system, only one generator and condenser are employed.

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Due to the rising demand for these affordable cooling options, the absorption chillers market is currently growing globally. The absorption chillers market is primarily driven by features like silent operation, low maintenance requirements, and vibration-free operation. Additionally, the rise in popularity in the industrial sector, particularly the petrochemical industry, and growing use of absorption chillers in solar cooling initiatives are likely to fuel market growth over the course of the forecast period.

Furthermore, strict government regulation on the use of absorption chillers is another important factor fueling market expansion because they are more environmentally friendly than traditional vapour compressors due to lower emissions of pollutants and hazardous gases.

The global absorption chillers market is severely constrained by higher initial chiller installation costs. Furthermore, two major factors preventing market expansion are rising electricity costs and a lack of electricity.

Start-up scenario
• Critical Power Products and Services, LLC is a used chiller distributor for industrial applications. Air-cooled, water-cooled, and liquid absorption chillers are available with a range of functions. Available in three-phase with a variety of refrigerants including R-123, R-134A, and R-22. Models vary in capacity from 120 to 910 tonnes, rated voltage from 460 to 575 volts, and frequency from 60 to 60 Hz.
• Trusteel LLC produces automated solvent cooling systems composed of stainless steel, PTFE, and borosilicate. The specifications include a rated voltage of 208/240 V, a current of 20 A, and a flow rate of 300 gal/h of chilled solvent at -60 degrees C. Alarms, continuous process flow, a built-in fail safe, data logging, and remote control are among the features. Acetone, acetonitrile, ethanol, heptane, hexane, and methanol are all compatible. FDA cleared. UL certified are are made in the United States.

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Key Segments Profiled in the Global Absorption Chillers Market
ABSORPTION CHILLERS MARKET BY SOURCE OF ENERGY:
• Direct Fired Absorption Chillers
• Steam heated Absorption Chillers
• Hot Water Heated Absorption Chillers
• Gaseous Fuels powered Absorption Chillers

ABSORPTION CHILLERS MARKET BY REFRIGERANT:
• Ammonia Absorption Chillers
• Lithium Bromide (Brine) Absorption Chillers

ABSORPTION CHILLERS MARKET BY PACKAGING:
• Modular Absorption Chillers
• Packaged Absorption Chillers

ABSORPTION CHILLERS MARKET BY APPLICATION:
• Absorption Chillers for Food Storage
• Absorption Chillers for Air Conditioning

ABSORPTION CHILLERS MARKET BY END USE:
• Absorption Chillers for Industrial Use
• Absorption Chillers for Commercial Use
• Absorption Chillers for Residential Use

ABSORPTION CHILLERS MARKET 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

Market Competition
The key players of this market include Thermax Ltd, Helioclim, MultiChill Technologies Inc, Kirloskar Pneumatic Company Ltd, World Energy Absorption Absorption chillers Europe Ltd, Johnson Controls, Inc., LG Air Conditioning (Shandong) Co., Ltd., Hitachi Appliances Inc., EAW, Energieanlagenbau GmbH, Carrier Corporation, Century Corporation, Yazaki Energy Systems Inc.

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This release was published on openPR.