North America Absorption Chiller Market – Size, Trends and Forecast (2024 – 2032)

Absorption Chiller is a machine that uses a heat source to generate chilled water rather than the electrical source that is used in vapour compression cycle. It’s an enticing idea to produce chilled water with heat. As the same in vapour compression cycle, absorption cycle resolves the removal of heat using the evaporation of a refrigerant at low pressure and the ejection of heat using the condensation of the refrigerant at high pressure. The major difference between a vapour compression system and an absorption chiller is that a vapour compression system using a compressor to make the pressure difference required to distribute the refrigerant while the absorption chiller using heat.

North America Absorption Chiller Market Segments Size & Growth:

North America Absorption Chiller Market size is projected to reach approximately $XX billion by the end of 2024 with a CAGR of close to XX% from $XX billion in 2017 during the forecast timeline 2018-2024. Key parameters promoting the market growth include raising awareness about energy-efficient products, lower operational & maintenance costs, increased consumption of frozen foods, and growth in commercial & industrial sectors. However, High set-up cost and low-efficiency rates, and competition from the centrifugal chiller industry are thereby hampering the market growth. Rapid Growth of Absorption Chillers in Commercial Sector & Data Centres provides a great opportunity for increasing the market share.

North America Absorption Chiller Market Segments Share:

North America Absorption Chiller Market is categorised into technology which comprises a single stage, and double stage. By absorber type, the market is segmented into lithium bromide and ammonia. By the power source, the market is segmented into direct fired, indirect fired, water driven. By End-Users, the market is segmented into non-industrial, and industrial. Hospitals, large retail, offices, and theatres in the commercial sector need various types of chillers. Plastic, baking, food, pharmaceutical, and printing industries are the major industrial consumers that use chillers for various processes. Increase in some working women has led to increased adoption of frozen foods owing to time constraints and ease of cooking. This increasing trend towards frozen foods is facilitating the demand for chillers in the food processing industry.

By Geography, North America is a highly profitable region for absorption chillers, owing to strong adoption from the region’s food processing and petroleum industries. North America is projected to be the most lucrative market for absorption chillers, with sales revenue in USA and Canada. Developing economies such as those in North America are expected to witness a steady increase in demand for absorption chillers over the forecast period. High natural gas production in the USA combined with development in the number of infrastructure projects in the region makes it a lucrative market for absorption chillers over the forecast period.

North America Absorption Chiller Market Trends:

•  The latest development in absorption chiller is a 100 kW cooling capacity chiller, with technical choices between the two first prototypes, but design to provide cooling effect at temperatures suitable for air-conditioning to ice making.

North America Absorption Chiller Market Research Report:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial analysis with major competitors.

Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.

The major market players, such as

• LG Electronics
• Carrier Corporation
• Hitachi Appliances Inc.
• Hyundai Climate Control Co., Ltd.
• CNIM Group

Along with these companies, there were many other companies considered/cited in the report while analyzing the North America Absorption Chiller Market. These companies hold substantial share-owning to the nature of the industry whereas rest of the market shares are marginal chunks to regional and local level manufacturers. Other players have considerable presence owing to its robust brand image, geographical reach and strong customer base.