Absorption chiller market size is projected to exceed USD 980 million by 2023 and it is likely to grow at a CAGR of over 3.5% from 2016 to 2023. These are the refrigerants that use heat energy for cooling rather than employing mechanical energy.

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Absorption Chiller Market
Size, Share, Industry Outlook & Forecast 2016-2024
Global absorption chiller market size is projected
to exceed USD 980 million by 2023

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 Global absorption chiller market size is projected to exceed USD 980 million by 2023 and it is likely
to grow at a CAGR of over 3.5% from 2016 to 2023. These are the refrigerants that use heat energy for
cooling rather than employing mechanical energy. Rising government concern regarding energy
conservation accompanied by escalating process cooling needs in various industrial applications is likely to
drive industry demand.
Increasing demand for energy efficient cooling solutions is predicted to propel the industry growth over
the forecast period. In addition, lack of electricity infrastructure in developing nations is estimated to boost
absorption chillers market size.
Escalating electricity prices along with electricity supply shortages may positively impact the industry
over the upcoming years. Furthermore, proliferating usage of these chillers in solar cooling projects is
expected to fuel demand.
Global Market Scenario of Absorption Chiller Industry

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 Attributes such as vibration-free and inaudible operation offered by these systems is predicted to
surge the demand from 2015 to 2022. Low maintenance and operating cost offered by these
machines is also likely to spur the absorption chiller market size over the forecast period.
 Hot water fired, steam fired, natural gas fired and exhaust gas are the various types of chillers.
Various technologies involved include single effect, double effect and triple effect absorption.
Single effect technology is predicted to experience intensifying growth owing to its low
coefficient of powers (COP). This technology is primarily used in various industries such as
boilers and power plants and is available in range of capacity between 7.5 tons and 1,500 tons.
 Double effect absorption chiller market is widely employed in high pressure steam application
namely district heating. These are more efficient than their single effect counterparts; however
they also involve high manufacturing cost.
 Based on application, the industry can be segregated into numerous industry sectors such as
chemicals, refrigeration, geothermal appliances, oil & petroleum as well as freezing & food
canning.
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Research Methodology

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Hot water fired, steam fired, natural gas fired and exhaust gas are the various types of chillers.
Various technologies involved include single effect, double effect and triple effect absorption. Single
effect technology is predicted to experience intensifying growth owing to its low coefficient of
powers (COP). This technology is primarily used in various industries such as boilers and power
plants and is available in range of capacity between 7.5 tons and 1,500 tons.
Double effect absorption chiller market is widely employed in high pressure steam application
namely district heating. These are more efficient than their single effect counterparts; however they
also involve high manufacturing cost. Based on application, the industry can be segregated into
numerous industry sectors such as chemicals, refrigeration, geothermal appliances, oil & petroleum as
well as freezing & food canning.
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Products Insights

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 Increasing demand for energy efficient cooling solutions is predicted to propel the industry growth
over the forecast period. In addition, lack of electricity infrastructure in developing nations is
estimated to boost absorption chillers market size.
 Escalating electricity prices along with electricity supply shortages may positively impact the industry
over the upcoming years. Furthermore, proliferating usage of these chillers in solar cooling projects is
expected to fuel demand. Attributes such as vibration-free and inaudible operation offered by these
systems is predicted to surge the demand from 2015 to 2022. Low maintenance and operating cost
offered by these machines is also likely to spur the absorption chiller market size over the forecast
period.
Application Insights

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Regional Analysis
 Asia Pacific absorption chillers market share is predicted to observe significant growth over
the several upcoming years. This can be attributed to rising demand from developing markets,
mainly China and India.
 U.S. absorption chiller market share is anticipated to witness considerable growth. The surge in
demand can be attributed to high concentration of industries such as petroleum, processed food
and chemicals in the region.
 Europe is expected to exhibit high growth due to the presence of large number of industries in
the region.
 Latin America and Middle East & Africa are also forecast to witness moderate growth owing to
growing adoption across various nations over the forecast period.
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