Absorption chillers market: Driven by the growing use of absorption chillers across various industries - Technavio

News provided by

Feb 01, 2023, 06:30 ET

NEW YORK, Feb. 1, 2023 /PRNewswire/ -- The absorption chillers market size is forecast to increase by USD 741.07 million from 2022 to 2027, at a CAGR of 4.32%, according to the recent market study by Technavio. The growth of the market will be driven by the growing use of absorption chillers across various industries, the growing adoption of district heating and cooling infrastructure, and stringent regulations on refrigerant use. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has announced its latest market research report titled Global Absorption Chillers Market 2023-2027

Technavio has extensively analyzed 15 major vendors, including BROAD Group, Carrier Global Corp., Century Corp., CNIM SA, Daikin Industries Ltd., EAW Energieanlagenbau GmbH, Ebara Corp., Helioclim, Johnson Controls International Plc., Kirloskar Pneumatic Co. Ltd., LG Electronics Inc., Mitsubishi Heavy Industries Ltd., Robur Spa, Shuangliang Eco-Energy Systems Co. Ltd., THE PAR GROUP, Thermax Ltd., Trane Technologies plc, World Energy Co. Ltd., Yazaki Corp., and Berg Chilling Systems Inc.

To get detailed details about the vendor's landscape, buy the report

Key benefits for industry players and stakeholders –

The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

Expand operations in the future - To get requisite details, ask for a custom report.

Customer Landscape - Analysis of price sensitivity, Adoption lifecycle, Customer purchase basket, Adoption rates, and purchase criteria by Technavio

One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.
Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
Furthermore, market adoption rates for all regions have been covered.

Get a holistic overview of the market from industry experts to evaluate and develop growth strategies. Download the Sample

The market is segmented by segment application (industrial and HVAC), type (lithium bromide and ammonia), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

Segmentation by application (Inclusion/Exclusion)

The market growth in the industrial segment will be significant during the forecast period. Industrial Absorption chillers are deployed in the industrial sector to maintain the temperature of process equipment and refrigeration of chemicals, food, beverages, and other materials that need to be maintained at a low temperature. Industries such as plastic, chemical, pharmaceutical, oil and gas, food and beverages, and printing are some of the major industrial consumers that use chillers. These chillers can be directly integrated with the processes and can utilize the waste heat generated by the equipment.

Register for a free trial today and gain instant access to 17,000+ market research reports.
Technavio's SUBSCRIPTION platform

Related Reports:

The nonwoven filter media market size is expected to accelerate at a CAGR of 6.45% and reach USD 2.40 billion by 2026. The increasing use in HVAC systems is notably driving the nonwoven filter media market growth, although factors such as limitations of nonwoven filter media products in energy applications may impede the market growth.
The agroscience market size is predicted to surge by USD 24.02 billion from 2021 to 2026 at a CAGR of 11.75%. The shrinking availability of arable land is notably driving the market growth, although factors such as the challenges associated with plant breeding may impede the market growth.

What are the key data covered in this absorption chillers market report?

CAGR of the market during the forecast period
Detailed information on factors that will drive the growth of the absorption chillers market between 2023 and 2027
Precise estimation of the size of the absorption chillers market size and its contribution to the market in focus on the parent market
Accurate predictions about upcoming trends and changes in consumer behavior
Growth of the absorption chillers market industry across APAC, Europe, North America, Middle East and Africa, and South America
A thorough analysis of the market's competitive landscape and detailed information about vendors
Comprehensive analysis of factors that will challenge the growth of Absorption Chillers Market vendors

Absorption Chillers Market Scope
Report Coverage	Details
Page number	164
Base year	2022
Historic period	2017-2021
Forecast period	2023-2027
Growth momentum & CAGR	Accelerate at a CAGR of 4.32%
Market growth 2023-2027	USD 741.07 million
Market structure	Fragmented
YoY growth 2022-2023 (%)	3.78
Regional analysis	APAC, Europe, North America, Middle East and Africa, and South America
Performing market contribution	APAC at 46%
Key countries	US, China, Japan, Germany, and UK
Competitive landscape	Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled	BROAD Group, Carrier Global Corp., Century Corp., CNIM SA, Daikin Industries Ltd., EAW Energieanlagenbau GmbH, Ebara Corp., Helioclim, Johnson Controls International Plc., Kirloskar Pneumatic Co. Ltd., LG Electronics Inc., Mitsubishi Heavy Industries Ltd., Robur Spa, Shuangliang Eco-Energy Systems Co. Ltd., THE PAR GROUP, Thermax Ltd., Trane Technologies plc, World Energy Co. Ltd., Yazaki Corp., and Berg Chilling Systems Inc.
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
Exhibit 07: Executive Summary – Chart on Incremental Growth
Exhibit 08: Executive Summary – Data Table on Incremental Growth
Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

· 2 Market Landscape

2.1 Market ecosystem

Exhibit 10: Parent market
Exhibit 11: Market Characteristics

· 3 Market Sizing

3.1 Market definition

Exhibit 12: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 13: Market segments

3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027

Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

· 4 Historic Market Size

4.1 Global absorption chillers market 2017 - 2021

Exhibit 18: Historic Market Size – Data Table on Global absorption chillers market 2017 - 2021 ($ million)

4.2 Application Segment Analysis 2017 - 2021

Exhibit 19: Historic Market Size – Application Segment 2017 - 2021 ($ million)

4.3 Type Segment Analysis 2017 - 2021

Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 ($ million)

4.4 Geography Segment Analysis 2017 - 2021

Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

4.5 Country Segment Analysis 2017 - 2021

Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

· 5 Five Forces Analysis

5.1 Five forces summary

Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

5.2 Bargaining power of buyers

Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

5.3 Bargaining power of suppliers

Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

5.4 Threat of new entrants

Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

5.5 Threat of substitutes

Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

5.6 Threat of rivalry

Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

5.7 Market condition

Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

· 6 Market Segmentation by Application

6.1 Market segments

Exhibit 30: Chart on Application - Market share 2022-2027 (%)
Exhibit 31: Data Table on Application - Market share 2022-2027 (%)

6.2 Comparison by Application

Exhibit 32: Chart on Comparison by Application
Exhibit 33: Data Table on Comparison by Application

6.3 Industrial - Market size and forecast 2022-2027

Exhibit 34: Chart on Industrial - Market size and forecast 2022-2027 ($ million)
Exhibit 35: Data Table on Industrial - Market size and forecast 2022-2027 ($ million)
Exhibit 36: Chart on Industrial - Year-over-year growth 2022-2027 (%)
Exhibit 37: Data Table on Industrial - Year-over-year growth 2022-2027 (%)

6.4 HVAC - Market size and forecast 2022-2027

Exhibit 38: Chart on HVAC - Market size and forecast 2022-2027 ($ million)
Exhibit 39: Data Table on HVAC - Market size and forecast 2022-2027 ($ million)
Exhibit 40: Chart on HVAC - Year-over-year growth 2022-2027 (%)
Exhibit 41: Data Table on HVAC - Year-over-year growth 2022-2027 (%)

6.5 Market opportunity by Application

Exhibit 42: Market opportunity by Application ($ million)

· 7 Market Segmentation by Type

7.1 Market segments

Exhibit 43: Chart on Type - Market share 2022-2027 (%)
Exhibit 44: Data Table on Type - Market share 2022-2027 (%)

7.2 Comparison by Type

Exhibit 45: Chart on Comparison by Type
Exhibit 46: Data Table on Comparison by Type

7.3 Lithium bromide - Market size and forecast 2022-2027

Exhibit 47: Chart on Lithium bromide - Market size and forecast 2022-2027 ($ million)
Exhibit 48: Data Table on Lithium bromide - Market size and forecast 2022-2027 ($ million)
Exhibit 49: Chart on Lithium bromide - Year-over-year growth 2022-2027 (%)
Exhibit 50: Data Table on Lithium bromide - Year-over-year growth 2022-2027 (%)

7.4 Ammonia - Market size and forecast 2022-2027

Exhibit 51: Chart on Ammonia - Market size and forecast 2022-2027 ($ million)
Exhibit 52: Data Table on Ammonia - Market size and forecast 2022-2027 ($ million)
Exhibit 53: Chart on Ammonia - Year-over-year growth 2022-2027 (%)
Exhibit 54: Data Table on Ammonia - Year-over-year growth 2022-2027 (%)

7.5 Market opportunity by Type

Exhibit 55: Market opportunity by Type ($ million)

· 8 Customer Landscape

8.1 Customer landscape overview

Exhibit 56: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

· 9 Geographic Landscape

9.1 Geographic segmentation

Exhibit 57: Chart on Market share by geography 2022-2027 (%)
Exhibit 58: Data Table on Market share by geography 2022-2027 (%)

9.2 Geographic comparison

Exhibit 59: Chart on Geographic comparison
Exhibit 60: Data Table on Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

Exhibit 61: Chart on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 62: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
Exhibit 63: Chart on APAC - Year-over-year growth 2022-2027 (%)
Exhibit 64: Data Table on APAC - Year-over-year growth 2022-2027 (%)

9.4 Europe - Market size and forecast 2022-2027

Exhibit 65: Chart on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 66: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
Exhibit 67: Chart on Europe - Year-over-year growth 2022-2027 (%)
Exhibit 68: Data Table on Europe - Year-over-year growth 2022-2027 (%)

9.5 North America - Market size and forecast 2022-2027

Exhibit 69: Chart on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 70: Data Table on North America - Market size and forecast 2022-2027 ($ million)
Exhibit 71: Chart on North America - Year-over-year growth 2022-2027 (%)
Exhibit 72: Data Table on North America - Year-over-year growth 2022-2027 (%)

9.6 Middle East and Africa - Market size and forecast 2022-2027

Exhibit 73: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 74: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
Exhibit 75: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
Exhibit 76: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

9.7 South America - Market size and forecast 2022-2027

Exhibit 77: Chart on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 78: Data Table on South America - Market size and forecast 2022-2027 ($ million)
Exhibit 79: Chart on South America - Year-over-year growth 2022-2027 (%)
Exhibit 80: Data Table on South America - Year-over-year growth 2022-2027 (%)

9.8 US - Market size and forecast 2022-2027

Exhibit 81: Chart on US - Market size and forecast 2022-2027 ($ million)
Exhibit 82: Data Table on US - Market size and forecast 2022-2027 ($ million)
Exhibit 83: Chart on US - Year-over-year growth 2022-2027 (%)
Exhibit 84: Data Table on US - Year-over-year growth 2022-2027 (%)

9.9 China - Market size and forecast 2022-2027

Exhibit 85: Chart on China - Market size and forecast 2022-2027 ($ million)
Exhibit 86: Data Table on China - Market size and forecast 2022-2027 ($ million)
Exhibit 87: Chart on China - Year-over-year growth 2022-2027 (%)
Exhibit 88: Data Table on China - Year-over-year growth 2022-2027 (%)

9.10 Japan - Market size and forecast 2022-2027

Exhibit 89: Chart on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 90: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
Exhibit 91: Chart on Japan - Year-over-year growth 2022-2027 (%)
Exhibit 92: Data Table on Japan - Year-over-year growth 2022-2027 (%)

9.11 Germany - Market size and forecast 2022-2027

Exhibit 93: Chart on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 94: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
Exhibit 95: Chart on Germany - Year-over-year growth 2022-2027 (%)
Exhibit 96: Data Table on Germany - Year-over-year growth 2022-2027 (%)

9.12 UK - Market size and forecast 2022-2027

Exhibit 97: Chart on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 98: Data Table on UK - Market size and forecast 2022-2027 ($ million)
Exhibit 99: Chart on UK - Year-over-year growth 2022-2027 (%)
Exhibit 100: Data Table on UK - Year-over-year growth 2022-2027 (%)

9.13 Market opportunity by geography

Exhibit 101: Market opportunity by geography ($ million)

· 10 Drivers, Challenges, and Trends

10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges

Exhibit 102: Impact of drivers and challenges in 2022 and 2027

10.4 Market trends

· 11 Vendor Landscape

11.1 Overview
11.2 Vendor landscape

Exhibit 103: Overview on Criticality of inputs and Factors of differentiation

11.3 Landscape disruption

Exhibit 104: Overview on factors of disruption

11.4 Industry risks

Exhibit 105: Impact of key risks on business

· 12 Vendor Analysis

12.1 Vendors covered

Exhibit 106: Vendors covered

12.2 Market positioning of vendors

Exhibit 107: Matrix on vendor position and classification

12.3 BROAD Group

Exhibit 108: BROAD Group - Overview
Exhibit 109: BROAD Group - Product / Service
Exhibit 110: BROAD Group - Key offerings

12.4 Carrier Global Corp.

Exhibit 111: Carrier Global Corp. - Overview
Exhibit 112: Carrier Global Corp. - Business segments
Exhibit 113: Carrier Global Corp. - Key news
Exhibit 114: Carrier Global Corp. - Key offerings
Exhibit 115: Carrier Global Corp. - Segment focus

12.5 Century Corp.

Exhibit 116: Century Corp. - Overview
Exhibit 117: Century Corp. - Product / Service
Exhibit 118: Century Corp. - Key offerings

12.6 Daikin Industries Ltd.

Exhibit 119: Daikin Industries Ltd. - Overview
Exhibit 120: Daikin Industries Ltd. - Business segments
Exhibit 121: Daikin Industries Ltd. - Key news
Exhibit 122: Daikin Industries Ltd. - Key offerings
Exhibit 123: Daikin Industries Ltd. - Segment focus

12.7 EAW Energieanlagenbau GmbH

Exhibit 124: EAW Energieanlagenbau GmbH - Overview
Exhibit 125: EAW Energieanlagenbau GmbH - Product / Service
Exhibit 126: EAW Energieanlagenbau GmbH - Key offerings

12.8 Ebara Corp.

Exhibit 127: Ebara Corp. - Overview
Exhibit 128: Ebara Corp. - Business segments
Exhibit 129: Ebara Corp. - Key offerings
Exhibit 130: Ebara Corp. - Segment focus

12.9 Helioclim

Exhibit 131: Helioclim - Overview
Exhibit 132: Helioclim - Product / Service
Exhibit 133: Helioclim - Key offerings

12.10 Johnson Controls International Plc.

Exhibit 134: Johnson Controls International Plc. - Overview
Exhibit 135: Johnson Controls International Plc. - Business segments
Exhibit 136: Johnson Controls International Plc. - Key news
Exhibit 137: Johnson Controls International Plc. - Key offerings
Exhibit 138: Johnson Controls International Plc. - Segment focus

12.11 Kirloskar Pneumatic Co. Ltd.

Exhibit 139: Kirloskar Pneumatic Co. Ltd. - Overview
Exhibit 140: Kirloskar Pneumatic Co. Ltd. - Business segments
Exhibit 141: Kirloskar Pneumatic Co. Ltd. - Key offerings
Exhibit 142: Kirloskar Pneumatic Co. Ltd. - Segment focus

12.12 LG Electronics Inc.

Exhibit 143: LG Electronics Inc. - Overview
Exhibit 144: LG Electronics Inc. - Business segments
Exhibit 145: LG Electronics Inc. - Key news
Exhibit 146: LG Electronics Inc. - Key offerings
Exhibit 147: LG Electronics Inc. - Segment focus

12.13 Mitsubishi Heavy Industries Ltd.

Exhibit 148: Mitsubishi Heavy Industries Ltd. - Overview
Exhibit 149: Mitsubishi Heavy Industries Ltd. - Business segments
Exhibit 150: Mitsubishi Heavy Industries Ltd. - Key news
Exhibit 151: Mitsubishi Heavy Industries Ltd. - Key offerings
Exhibit 152: Mitsubishi Heavy Industries Ltd. - Segment focus

12.14 Thermax Ltd.

Exhibit 153: Thermax Ltd. - Overview
Exhibit 154: Thermax Ltd. - Business segments
Exhibit 155: Thermax Ltd. - Key news
Exhibit 156: Thermax Ltd. - Key offerings
Exhibit 157: Thermax Ltd. - Segment focus

12.15 Trane Technologies plc

Exhibit 158: Trane Technologies plc - Overview
Exhibit 159: Trane Technologies plc - Business segments
Exhibit 160: Trane Technologies plc - Key offerings
Exhibit 161: Trane Technologies plc - Segment focus

12.16 World Energy Co. Ltd.

Exhibit 162: World Energy Co. Ltd. - Overview
Exhibit 163: World Energy Co. Ltd. - Product / Service
Exhibit 164: World Energy Co. Ltd. - Key offerings

12.17 Yazaki Corp.

Exhibit 165: Yazaki Corp. - Overview
Exhibit 166: Yazaki Corp. - Product / Service
Exhibit 167: Yazaki Corp. - Key offerings

· 13 Appendix

13.1 Scope of the report
13.2 Inclusions and exclusions checklist

Exhibit 168: Inclusions checklist
Exhibit 169: Exclusions checklist

13.3 Currency conversion rates for US$

Exhibit 170: Currency conversion rates for US$

13.4 Research methodology

Exhibit 171: Research methodology
Exhibit 172: Validation techniques employed for market sizing
Exhibit 173: Information sources

13.5 List of abbreviations

Exhibit 174: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/

SOURCE Technavio