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Absorption Chillers Market is Estimated to Grow at a CAGR of 5.21 % within the forecast period of 2022 to 2030 : Cognitive Market Research
Absorption Chillers Market is Estimated to Grow at a CAGR of 5.21 % within the forecast period of 2022 to 2030 : Cognitive Market
- The absorption chiller is machinery, which is used in industrial, commercial, and residential buildings for air conditioning, refrigeration, and process cooling in industrial facilities. In addition, direct-fired absorption chillers use direct flames generated from oil or gas to introduce energy to the system.
Summary:
● Global Absorption Chillers Market Size Was Valued at USD 1.49 Billion In 2022 And Is Expected to Grow at A CAGR Of 5.21 % During the Forecast Period, Reaching USD 2.21 Billion By 2030.
● Based on refrigerant type, the lithium bromide segment has the largest revenue share in the absorption chiller market.
● Based on the energy source, the hot water-treated segment has the largest revenue share in the absorption chiller market.
● Based on application, the chemical segment has the largest revenue share in the absorption chiller market.
● Based on the end-user industry, the industrial segment has the largest revenue share in the absorption chiller market.
● Asia-Pacific has the largest revenue share in the absorption chiller market.
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Market Dynamics:
- Increasing demand in industrial, residential, and commercial buildings for air-conditioning, refrigeration, and process cooling in industrial facilities is the key factor expected to drive the growth of the absorption chiller market. In addition, increasing the use of absorption chillers in various industries including food and beverages, pharmaceuticals, power plants, and metal fabrication is expected to drive the growth of the target market. Furthermore, increasing urbanization which is fueling the growth of commercial and residential buildings is expected to create growth opportunities for the global absorption chiller market. However, the increasing cost of the absorption chiller as compared to the compression-based chiller may hamper the growth of the absorption chiller market.
Market Segmentation:
By Refrigerant Type:
● Ammonia
● Lithium Bromide
Based on refrigerant type, the lithium bromide segment has the largest revenue share in the absorption chiller market. This is attributed to lithium bromide is odorless, non-toxic, non-explosive, safe, reliable, and pollution-free, and is suitable for meeting the requirements of environmental protection projected to drive the growth of this segment.
By Energy Source:
● Hot Water Treated
Based on the energy source, the hot water-treated segment has the largest revenue share in the absorption chiller market. This is due to the hot water-treated absorption chillers using hot water from the process machinery of an industrial facility as a power source.
● Steam Heated
● Others
By Application:
● Food and Beverages
● Oil and Gas
● Chemical
Based on application, the chemical segment has the largest revenue share in the absorption chiller market. This is attributed to chemical industries' use of absorption chillers for air conditioning as well as for process cooling anticipated to drive the growth of this segment.
● Others
By End-user Industry:
● Residential
● Commercial
● Industrial
Based on the end-user industry, the industrial segment has the largest revenue share in the absorption chiller market. This is due to the industrial use of absorption chillers in industrial spaces for process cooling, cold storage, and general comfort cooling.
Competitive Analysis for Absorption Chillers Market :
Daikin Industries, Johnson Controls, Thermax Ltd., Trane, Broad Air Conditioning, Carrier Corporation, Hitachi Appliances, Midea Group, Robur Corporation, Shuangliang Eco Energy Systems, LG, EAW Energieanlagenbau GmbH, Century, Kirloskar Pneumatic Co. Ltd., Yazaki Energy Systems Inc., MultiChill Technologies Inc.
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Regional Analysis :
- Asia-Pacific accounted for the largest share of the absorption chiller market
Asia-Pacific has the largest revenue share in the absorption chiller market. This is due to the availability of cheap and skilled labor, and support from governments in the region. In addition, major players are striving to develop manufacturing units to improve production quantities and industries anticipated to drive the growth of the absorption chiller market in the region.
News:
- Broad Air Conditioning Co. Ltd. has developed a triple-effect absorption chiller
In January 2019, Broad Air Conditioning Co. Ltd. has developed a triple-effect absorption chiller to produce chilled water down to 5 °C, while requiring a lower inlet temperature of about 75 °C leading to a return flow temperature of 55 °C.
Browse Here For Full TOC:
Table of Content (Revenue USD Edition), (Enquire about Volume/Consumption Edition Data)
Chapter 1 Industrial Insight and Market Scope
• 1.1 Global Absorption Chillers Industry Introduction
• 1.2 Objectives of the Study
• 1.3 USP of the Report
• 1.4 Who is this report for?
• 1.5 Designing of Market Scope
1.5.1 Absorption Chillers Market Segmentation
1.5.1 Absorption Chillers Market Regional Fragmentation
1.5.1 Absorption Chillers Market Players
• 1.6 Report Duration
Chapter 2 Research MethodologyReview Complete Research Methodology
Chapter 3 Executive Summary of Absorption Chillers Market
Chapter 4 Global Absorption Chillers Market Overview
Chapter 5 Competitive Analysis (Subject to Availability)
Chapter 6 Qualitative Analysis
Chapter 7 Company Profiling (Subject to Availability)
Chapter 8 Global Absorption Chillers Market by Refrigerant Type Segmentation Analysis (2018-2030)
Chapter 9 Global Absorption Chillers Market by Application Segmentation Analysis (2018-2030)
• 9.1 Detailed Qualitative Analysis
• 9.2 Global Absorption Chillers Revenue and Share (%) by Application (2018-2030)
9.2.1 Food and Beverages Market Size
9.2.1.1 Global Food and Beverages Market Share and Revenue (USD Million) for 2018-2030
9.2.2 Oil and Gas Market Size
9.2.2.1 Global Oil and Gas Market Share and Revenue (USD Million) for 2018-2030
9.2.3 Chemical Market Size
9.2.3.1 Global Chemical Market Share and Revenue (USD Million) for 2018-2030
9.2.4 Others Market Size
9.2.4.1 Global Others Market Share and Revenue (USD Million) for 2018-2030
Chapter 10 Global Absorption Chillers Market by Energy Source Segmentation Analysis (2018-2030)
• 10.1 Detailed Qualitative Analysis
• 10.2 Global Absorption Chillers Revenue and Share (%) by Energy Source (2018-2030)
10.2.1 Hot Water Treated Market Size
10.2.1.1 Global Hot Water Treated Market Share and Revenue (USD Million) for 2018-2030
10.2.2 Steam Heated Market Size
10.2.2.1 Global Steam Heated Market Share and Revenue (USD Million) for 2018-2030
10.2.3 Others Market Size
10.2.3.1 Global Others Market Share and Revenue (USD Million) for 2018-2030
Chapter 11 Global Absorption Chillers Market by End-user Industry Segmentation Analysis (2018-2030)
Chapter 12 Global Absorption Chillers Market Regional Analysis
Chapter 13 North America Absorption Chillers Market Outlook (2018 - 2030)
Chapter 14 Europe Absorption Chillers Market Outlook (2018 - 2030)
Chapter 15 Asia Pacific Absorption Chillers Market Outlook (2018 - 2030)
Chapter 16 Latin America Absorption Chillers Market Outlook (2018 - 2030)
Chapter 17 Middle East and Africa Absorption Chillers Market Outlook (2018 - 2030)
Chapter 18 Research Findings
To know more Absorption Chillers Market TOC click here : https://www.cognitivemarketresearch.com/absorption-chillers-market-report#table_of_contents
Related Report:
● Screw Chillers Market : https://www.cognitivemarketresearch.com/screw-chillers-market-report
● Portable Air Chillers Market : https://www.cognitivemarketresearch.com/portable-air-chillers-market-report
● Air Conditioning Equipment Market : https://www.cognitivemarketresearch.com/air-conditioning-equipment-market-report
● Air Cooled Chiller Market : https://www.cognitivemarketresearch.com/air-cooled-chiller-market-report
𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬
Nicolas Shaw
Cognitive Market Research
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About Cognitive Market Research Company :
Cognitive Market Research has evolved as one leading market research and consulting firm and it provides services across multiple domains. Cognitive Market Research gathers and analyzes data about customers, competitors, distributors, and other market actors and forces operational across the value chain. As a market research company, we follow a complete process of gathering information about the target market and end-use industries to verify the complete journey of the product or service in the global market. It helps our readers understand the demand and viability of their product/service and how it might perform in the real world and help them to build business strategies accordingly.
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