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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