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Absorption Cooling System Market Trends

Report ID: GMI9234
Published Date: Apr 2024
Report Format: PDF

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Absorption Cooling System Market Trends

Technological innovations in HVAC systems are being introduced to ensure better and optimal performance. A new generation of automated heating and cooling solutions based on Artificial Intelligence (AI) is likely to have a promising future. The market is characterized by competition for highly intelligent, fully automated, and environmentally sustainable HVAC systems. Installing Internet of Things (IoT) sensors in HVAC systems enables real-time data recording and efficient operation of HVAC systems. Smart HVAC incorporates IoT technology, which plays an important role in improving the operation and the overall performance of these systems.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

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.

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.

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.

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.