Absorption Chillers Market Trends

Skyquest Technology's expert advisors have carried out comprehensive research on the absorption chillers market to identify the major global and regional market trends and growth opportunities for leading players and new entrants in this market. The analysis is based on in-depth primary and secondary research to understand the major market drivers and restraints shaping the future development and growth of the industry.

Absorption Chillers Market Dynamics

Absorption Chillers Market Drivers

Growing Demand for HVAC Systems

  • Rapidly increasing infrastructure development activity around the world is projected to primarily drive up the demand for HVAC systems thereby also benefiting sales of chillers. High demand for temperature control and cooling in offices, residential buildings, and industries is expected to promote market in the future.

Rise in Number of Data Centers

  • Data centers are becoming more and more important in an increasingly digital world and so is the demand for cooling systems for them. Chillers offer an efficient means to manage the heat generated by servers, ensuring optimal performance and reliability thereby making them a mainstay in all types of data centers.

Absorption Chillers Market Restraints

Complex Maintenance Needs

  • After the high initial costs of procurement and installation chillers also incur a substantial maintenance cost for end users. The requirement of constant cleaning, refrigerant replacement, component repairs, and monitoring of chillers to maintain their functionality requires skilled technicians thereby adding complexity to ownership and impeding adoption.

Energy Consumption Concerns

  • Even though chillers are highly efficient cooling systems, concerns regarding their energy consumption are expected to hurt their sales going forward. Although chillers are known for their high cooling efficiency, growing concerns about their energy consumption are likely to negatively impact their future sales. High energy usage contributes to increased operational costs and environmental concerns, which in turn, is slated to impede the absorption chillers market outlook in the long run.
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Global Absorption Chillers Market size was valued at USD 1.62 Billion in 2023 and is poised to grow from USD 1.7 Billion in 2024 to USD 2.49 Billion by 2032, growing at a CAGR of 4.9% in the forecast period (2025-2032).

In 2024, the global absorption chillers industry remains highly competitive, with both established players and emerging innovators striving to expand their global footprint through strategic partnerships, technological advancements, and sustainability-focused product development. In March 2024, Trane Technologies collaborated with BASF to co-develop next-generation absorption chillers using low-global warming potential (GWP) refrigerants. This strategic partnership aims to combine Trane’s HVAC expertise with BASF’s advanced chemical solutions to enhance energy efficiency and reduce the environmental impact of large-scale cooling systems. The collaboration also focuses on integrating IoT-enabled monitoring to provide real-time performance analytics and predictive maintenance, positioning the companies as leaders in sustainable cooling solutions. 'Carrier Corporation', 'Daikin Industries', 'Johnson Controls', 'Trane Technologies', 'Thermax Ltd.', 'Broad Air Conditioning', 'Hitachi Appliances', 'Midea Group', 'Robur Corporation', 'Shuangliang Eco-Energy Systems', 'LG Electronics', 'Yazaki Energy Systems Inc.'

Rapidly increasing infrastructure development activity around the world is projected to primarily drive up the demand for HVAC systems thereby also benefiting sales of chillers. High demand for temperature control and cooling in offices, residential buildings, and industries is expected to promote market in the future.

Use of Eco-friendly Refrigerants: Chiller providers are projected to move towards the use of eco-friendly refrigerants as awareness and emphasis on sustainability increases around the world. Imposition of stringent mandates regulating the use of harmful refrigerants is expected to make this a key absorption chillers market trend going forward. Low-GWP and natural refrigerants such as ammonia, CO2, and hydrocarbons are expected to gain popularity through 2031.

What are the Key Drivers of the Absorption Chillers Market in North America?

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Global Absorption Chillers Market
Absorption Chillers Market

Report ID: SQMIG20I2369

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