The North America Absorption Chillers Market should witness market growth of 3.8% CAGR during the forecast period (2022-2028).
The cycle of an absorption chiller and refrigeration cycle for a conventional vapor-compression chiller is identical in producing chilled water through the evaporation and condensation of a refrigerant at various pressures within the machine. However, a traditional chiller uses mechanical means to compress and transport the refrigerant vapor to the condenser.
In contrast, an absorption chiller depends on a thermos-chemical process involving water and lithium bromide to establish the pressure differential instead of mechanical compression. While most vapor-compression chillers use electricity as their energy source for machine operation, absorption chillers use heat as their energy. Generally, the heat is steam, hot water, or direct natural gas combustion. The most straightforward absorption machines are residential refrigerators, with a gas flame at the bottom, ice cubes at the top, and no need for electricity.
The chemical sector of the US converts raw materials into more than 70,000 products that are important to modern life and distributes these products to many end users throughout the nation. Many hundred thousand chemical facilities range from petrochemical manufacturers to chemical distributors who utilize, store, manufacture, transport, and deliver chemicals along a complex supply chain. End users of these products are essential infrastructure sectors making the uninterrupted production and supply of these chemicals necessary for the nation. The US chemical industry is responsible for more than a quarter of the US GDP and assists the production of almost all households and commercial goods. This supports the growth of the regional market.
The US market dominated the North America Absorption Chillers Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $372.4 million by 2028. The Canada market is poised to grow at a CAGR of 6.1% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 5.2% during (2022-2028).
Based on Application, the market is segmented into Chemical, Oil & Gas, Food & Beverages and Others. Based on End-user, the market is segmented into Industrial, Commercial and Residential. Based on Refrigerant Type, the market is segmented into Lithium Bromide and Ammonia. Based on Energy Source, the market is segmented into Hot Water Treated, Steam Heated and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LG Electronics (LG Corporation), Carrier Global Corporation, Thermax Limited, Hitachi, Ltd., Trane Technologies PLC, Johnson Controls International PLC, World Energy Co., Ltd., EAW Energieanlagenbau GmbH (WEGRA Anlagenbau GmbH), Yazaki Corporation, and Styne Group.
The cycle of an absorption chiller and refrigeration cycle for a conventional vapor-compression chiller is identical in producing chilled water through the evaporation and condensation of a refrigerant at various pressures within the machine. However, a traditional chiller uses mechanical means to compress and transport the refrigerant vapor to the condenser.
In contrast, an absorption chiller depends on a thermos-chemical process involving water and lithium bromide to establish the pressure differential instead of mechanical compression. While most vapor-compression chillers use electricity as their energy source for machine operation, absorption chillers use heat as their energy. Generally, the heat is steam, hot water, or direct natural gas combustion. The most straightforward absorption machines are residential refrigerators, with a gas flame at the bottom, ice cubes at the top, and no need for electricity.
The chemical sector of the US converts raw materials into more than 70,000 products that are important to modern life and distributes these products to many end users throughout the nation. Many hundred thousand chemical facilities range from petrochemical manufacturers to chemical distributors who utilize, store, manufacture, transport, and deliver chemicals along a complex supply chain. End users of these products are essential infrastructure sectors making the uninterrupted production and supply of these chemicals necessary for the nation. The US chemical industry is responsible for more than a quarter of the US GDP and assists the production of almost all households and commercial goods. This supports the growth of the regional market.
The US market dominated the North America Absorption Chillers Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $372.4 million by 2028. The Canada market is poised to grow at a CAGR of 6.1% during (2022-2028). Additionally, The Mexico market should witness a CAGR of 5.2% during (2022-2028).
Based on Application, the market is segmented into Chemical, Oil & Gas, Food & Beverages and Others. Based on End-user, the market is segmented into Industrial, Commercial and Residential. Based on Refrigerant Type, the market is segmented into Lithium Bromide and Ammonia. Based on Energy Source, the market is segmented into Hot Water Treated, Steam Heated and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include LG Electronics (LG Corporation), Carrier Global Corporation, Thermax Limited, Hitachi, Ltd., Trane Technologies PLC, Johnson Controls International PLC, World Energy Co., Ltd., EAW Energieanlagenbau GmbH (WEGRA Anlagenbau GmbH), Yazaki Corporation, and Styne Group.
Scope of the Study
By Application
- Chemical
- Oil & Gas
- Food & Beverages
- Others
By End-user
- Industrial
- Commercial
- Residential
By Refrigerant Type
- Lithium Bromide
- Ammonia
By Energy Source
- Hot Water Treated
- Steam Heated
- Others
By Country
- US
- Canada
- Mexico
- Rest of North America
Key Market Players
List of Companies Profiled in the Report:
- LG Electronics (LG Corporation)
- Carrier Global Corporation
- Thermax Limited
- Hitachi, Ltd.
- Trane Technologies PLC
- Johnson Controls International PLC
- World Energy Co., Ltd.
- EAW Energieanlagenbau GmbH (WEGRA Anlagenbau GmbH)
- Yazaki Corporation
- Styne Group
Unique Offerings
- Exhaustive coverage
- The highest number of Market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 North America Absorption Chillers Market, by Application
1.4.2 North America Absorption Chillers Market, by End User
1.4.3 North America Absorption Chillers Market, by Refrigerant Type
1.4.4 North America Absorption Chillers Market, by Energy Source
1.4.5 North America Absorption Chillers Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. North America Absorption Chillers Market by Application
3.1 North America Chemical Market by Country
3.2 North America Oil & Gas Market by Country
3.3 North America Food & Beverages Market by Country
3.4 North America Others Market by Country
Chapter 4. North America Absorption Chillers Market by End User
4.1 North America Industrial Market by Country
4.2 North America Commercial Market by Country
4.3 North America Residential Market by Country
Chapter 5. North America Absorption Chillers Market by Refrigerant Type
5.1 North America Lithium Bromide Market by Country
5.2 North America Ammonia Market by Country
Chapter 6. North America Absorption Chillers Market by Energy Source
6.1 North America Hot Water Treated Market by Country
6.2 North America Steam Heated Market by Country
6.3 North America Others Market by Country
Chapter 7. North America Absorption Chillers Market by Country
7.1 US Absorption Chillers Market
7.1.1 US Absorption Chillers Market by Application
7.1.2 US Absorption Chillers Market by End User
7.1.3 US Absorption Chillers Market by Refrigerant Type
7.1.4 US Absorption Chillers Market by Energy Source
7.2 Canada Absorption Chillers Market
7.2.1 Canada Absorption Chillers Market by Application
7.2.2 Canada Absorption Chillers Market by End User
7.2.3 Canada Absorption Chillers Market by Refrigerant Type
7.2.4 Canada Absorption Chillers Market by Energy Source
7.3 Mexico Absorption Chillers Market
7.3.1 Mexico Absorption Chillers Market by Application
7.3.2 Mexico Absorption Chillers Market by End User
7.3.3 Mexico Absorption Chillers Market by Refrigerant Type
7.3.4 Mexico Absorption Chillers Market by Energy Source
7.4 Rest of North America Absorption Chillers Market
7.4.1 Rest of North America Absorption Chillers Market by Application
7.4.2 Rest of North America Absorption Chillers Market by End User
7.4.3 Rest of North America Absorption Chillers Market by Refrigerant Type
7.4.4 Rest of North America Absorption Chillers Market by Energy Source
Chapter 8. Company Profiles
8.1 LG Electronics (LG Corporation)
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Regional & Segmental Analysis
8.1.4 Research & Development Expenses
8.1.5 SWOT Analysis
8.2 Carrier Global Corporation
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Product Launches and Product Expansions:
8.3 Thermax Limited
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Research & Development Expenses
8.4 Hitachi, Ltd.
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expenses
8.5 Trane Technologies PLC
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Regional Analysis
8.5.4 Research & Development Expense
8.6 Johnson Controls International PLC
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Segmental & Regional Analysis
8.6.4 Research & Development Expenses
8.7 World Energy Co., Ltd.
8.7.1 Company Overview
8.8 EAW Energieanlagenbau GmbH (WEGRA Anlagenbau GmbH)
8.8.1 Company Overview
8.9 Yazaki Corporation
8.9.1 Company Overview
8.10. Styne Group
8.10.1 Company Overview
Companies Mentioned
- LG Electronics (LG Corporation)
- Carrier Global Corporation
- Thermax Limited
- Hitachi, Ltd.
- Trane Technologies PLC
- Johnson Controls International PLC
- World Energy Co., Ltd.
- EAW Energieanlagenbau GmbH (WEGRA Anlagenbau GmbH)
- Yazaki Corporation
- Styne Group
Methodology
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