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Absorption Cooling System Market Share
The key players operating in the market are Thermax Limited, Kirloskar Pneumatic Company Ltd, Trane Technologies plc, Johnson Controls, Inc., and Carrier Global Corporation. Together, they held a market share of 15 - 20% in 2023. The market is highly fragmented owing to a large number of companies competing for a share, with no single player dominating the landscape. These market players offer various absorption chillers catering to different needs and budgets, opening the door for specialization among manufacturers.
Absorption Cooling System Market Companies
Major players operating in the absorption cooling system industry include:
- Thermax Limited
- Kirloskar Pneumatic Company Ltd
- Trane Technologies plc
- Johnson Controls, Inc.
- Carrier Global Corporation
- Robur Corporation
- LG Electronics, Inc.
- Shuangliang Eco-Energy Systems Co. Ltd.
- Kawasaki Thermal Engineering Co., Ltd.,
- Hyundai Climate Control Co.
- Steyn Group
- EBARA THERMAL SYSTEMS (THAILAND) CO., LTD.
- Bry-Air (Asia) Pvt. Ltd.
- Thermo Fisher Scientific Inc.
- Midea Group
Why is the demand for ammonia-water absorption cooling systems rising?
Ammonia-water absorption cooling system market generated a revenue of USD 1.09 billion in 2023 and is set to cross USD 1.6 billion by 2032, due to their environment-friendly nature.
Why are absorption cooling systems preferred in Asia Pacific?
Asia Pacific absorption cooling system market held 15.7% share in 2023 and is set to reach USD 1.01 billion by 2032, due to stringent regulations to reduce GHG emissions and promotion of energy-efficient technologies.
How much is the absorption cooling system industry worth?
The market size of absorption cooling system was reached USD 2.58 billion in 2023 and will grow at 4.5% CAGR between 2024 and 2032, attributed to the integration of renewable energy as well as increasing green building initiatives & regulations.
Who are the major absorption cooling system industry players?
Thermax Limited, Kirloskar Pneumatic Company Ltd, Trane Technologies plc, Johnson Controls, Inc., Carrier Global Corporation, Robur Corporation, LG Electronics, Inc., Shuangliang Eco-Energy Systems Co. Ltd., and Kawasaki Thermal Engineering Co., Ltd., among others.