According to the report by Expert Market Research (EMR), the Asia Pacific absorption chillers market size reached a value of USD 529.32 million in 2023. Aided by the growing necessity for energy-efficient cooling solutions amidst rising temperatures and energy costs, the market is projected to further grow at a CAGR of 4.2% between 2024 and 2032 to reach a value of USD 769.46 million by 2032.
Absorption chillers are a unique type of refrigeration system that uses a heat source to generate cooling, distinguishing itself from conventional electrically powered chillers. This technology offers several advantages, including lower operational costs, reduced environmental impact, and the utilisation of waste heat or renewable energy sources. It finds applications across various sectors, including industrial, commercial, and residential settings, with particular emphasis on industries requiring large-scale cooling solutions, such as chemical, food and beverage, and pharmaceutical sectors.
As per the Asia Pacific absorption chillers market analysis, governments across the Asia Pacific region are implementing stringent regulations and policies aimed at reducing energy consumption and promoting sustainability. These initiatives are driving the adoption of energy-efficient technologies like absorption chillers, which align with the goals of reducing carbon emissions and promoting renewable energy sources.
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There is an increasing trend towards the use of refrigerants with low Global Warming Potential (GWP) in absorption chillers. As environmental regulations become stricter, the absorption chillers market in the Asia Pacific is moving away from refrigerants that have a significant impact on global warming. This shift not only aligns with global sustainability efforts but also opens up new opportunities for innovation in chiller technology, making them more appealing to environmentally conscious consumers and businesses.
Absorption chillers are gaining popularity in district cooling systems, particularly in urban areas of the Asia Pacific region where cooling needs are substantial. District cooling systems offer an efficient way to provide cooling to multiple buildings or facilities from a central plant, significantly reducing energy consumption and operational costs. As per the Asia Pacific absorption chillers market outlook, the integration of absorption chillers into these systems, owing to their energy efficiency and ability to utilise waste heat, underscores a growing trend in urban infrastructure development.
The region’s booming industrial sector, coupled with the expansion of commercial spaces such as malls, offices, and data centres, has led to increased demand for efficient cooling systems. Absorption chillers, with their ability to leverage waste heat and solar energy, offer a cost-effective and sustainable solution to meet these cooling needs, which propels the Asia Pacific absorption chillers market growth. Continuous innovation in absorption chiller technology, including improvements in efficiency, compact design, and operational flexibility, has enhanced their appeal. Manufacturers are focusing on developing chillers that can operate under varied heat sources and environmental conditions, further broadening their applicability.
With the digital economy’s rapid expansion, data centres are becoming ubiquitous across the Asia Pacific region. These facilities require constant cooling to maintain the optimal operation of servers and equipment. Absorption chillers are increasingly being adopted in data centres for their energy efficiency and the potential to use waste heat from the servers themselves or nearby industrial processes, which boosts the Asia Pacific absorption chillers market share.
The rapid pace of urbanisation in the Asia Pacific region is leading to significant investments in infrastructure development, including residential complexes, hospitals, and educational institutions. This, in turn, is creating opportunities for the deployment of absorption chillers in these new constructions, particularly in the context of green building initiatives. There is also a growing trend of integrating absorption chillers with renewable energy systems, such as solar thermal panels and biomass boilers, which also boosts the Asia Pacific absorption chillers market expansion.
Asia Pacific Absorption Chillers Market Segmentation
The market can be divided based on type, refrigerant type, technology, source of energy, application, end use, and country.
Market Breakup by Type
- Steam Absorption Chillers
- Hot Water Absorption Chillers
- Direct-Fired Absorption Chillers
- Gas-Fired Absorption Chiller
- Others
Market Breakup by Refrigerant Type
- Ammonia
- Lithium Bromide
Market Breakup by Technology
- Single Stage
- Double Stage
- Others
Market Breakup by Source of Energy
- Gas Fired
- Steam Heated
- Direct Fired
- Hot Water Heated
- Others
Market Breakup by Application
- Food Storage
- Air Conditioning
- Others
Market Breakup by End Use
- Domestic
- Industrial
- Commercial
Market Breakup by Country
- China
- Japan
- India
- ASEAN
- Australia
- Others
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Competitive Landscape of Asia Pacific Absorption Chillers Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Asia Pacific absorption chillers market. Some of the major players explored in the report by Expert Market Research are as follows:
- Carrier Global Corporation
- Thermax Limited.
- Kirloskar Pneumatic Company Ltd.
- Johnson Controls-Hitachi Air Conditioning
- LG Electronics
- Trane Technologies Company, LLC
- DAIKIN INDUSTRIES, Ltd.
- Shuangliang Eco-energy Systems Co., Ltd.
- Others
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