The global absorption chillers market is expected to increase at a CAGR of 4.09 percent by 2027

From 2020 to 2027, the global absorption chillers market is expected to increase at a CAGR of 4.09 percent, from USD 1.37 billion in 2019 to USD 1.87 billion in 2027.


This report on the global absorption chillers market includes a comprehensive analysis of the market for the predicted period. The research includes several sectors as well as an analysis of the market's major trends and determinants. These elements, known as market dynamics, include the drivers, restraints, opportunities, and difficulties that these factors have on the market. drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The Global Absorption Chiller Market report forecasts the market's revenue growth throughout the forecast period.

What are Absorption Chillers?

The absorption chiller is frequently employed in low-grade heat refrigeration. To create chilled water, absorption chillers use heat and a concentrated salt solution (lithium bromide). Generators, condensers, evaporators, and absorbers are the four basic components of an absorption chiller.The use of a variable heat source, such as a gas burner and recovering waste heat in the form of hot water or low-pressure steam, or boiler-generated hot water or steam, is possible with an absorption chiller.

Global Absorption Chillers Market Overview

The market outlook portion of the research focuses on the market's basic characteristics, such as the industry's drivers, constraints, opportunities, and challenges. Market intrinsic variables are drivers and restrictions, whereas market extrinsic aspects are opportunities and challenges.

Due to the increased adoption of environmental safety measures by industrialists and end-users as a result of stringent government norms and policies, demand for solar-powered absorption chillers has risen across a wide range of industries, including petroleum and chemical, food and beverage, geothermal, solar, and many others. Furthermore, as the world's population and urbanisation grows, so does the demand for air conditioning and refrigeration, which is a major driver of the absorption chiller market. However, compared to conventional electric and mechanical chillers, absorption chillers have higher installation and running costs, which may have an impact on market growth throughout the projection period.

This research report uses primary sources to narrow down the available data, validate it, and apply it to compile a full-fledged market research study. The report includes a quantitative and qualitative assessment of market factors that the client is interested in. The “Global Absorption Chillers Market” is primarily segmented into sub-segments that can provide classified data on the latest trends if the market.

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