Absorption Chillers Market Growth Probability, Leading Vendors and Future Scenario By 2024-2031

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.

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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.

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  • Market Coverage
  • Market number available for – 2024-2031
  • Base year- 2024
  • Forecast period- 2024-2031
  • Segment Covered- By Source, By Product Type, By Applications
  • Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
  • , and others

Global Absorption Chillers Market Report Segment

By Technology

  • Single Stage
  • Double Stage

By Absorber Type

  • Lithium Bromide
  • Ammonia

By Power Source

  • Direct Fired
  • Indirect Fired
  • Water Driven

By Application

  • Chemicals
  • Food & Beverages
  • Power
  • Paper & Pulp
  • Power & Energy
  • Others (Petroleum)

Global Absorption Chillers Market Report Segment by Region

North America

  • United States
  • Canada

Europe

  • UK
  • Germany
  • Italy
  • Spain
  • France
  • Rest of Europe

Asia-Pacific

  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific

Rest of the World

  • Latin America
  • Middle East & Africa

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.

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