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Absorption Chillers Market Outlook (2022 to 2032)

The worldwide absorption chillers market is anticipated to be worth US$ 1,532.7 million in 2022, rising to US$ 2,376.8 million by 2032. During the projected period of 2022 to 2032, the market is estimated to grow at a CAGR of 4.5%.

Data Points Key Statistics
Absorption Chillers Market Value 2022 US$ 1,532.7 million
Absorption Chillers Market Projected Value (2032) US$ 2,376.8 million
Absorption Chillers Market CAGR (2022 to 2032) 4.5%

A chiller, also known as an absorption chiller, is a thermally driven refrigeration system that uses a sorbent solution or a liquid refrigerant and a heat source to deliver cooling to buildings. These absorption chillers use less energy than traditional absorption chillers such as electronic absorption chillers and industrial equipment, and they cool buildings without using ozone-depleting chlorofluorocarbons (CFCs).

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Absorption Chillers Demand Analysis (2017 to 2021) Vs Market Outlook (2022 to 2032)

The global demand for absorption chillers is projected to increase at a CAGR of 4.5% during the forecast period between 2022 and 2032, reaching a total of US$ 2,376.8 million in 2032, according to a report from Future Market Insights (FMI). From 2017 to 2021, sales witnessed significant growth, registering a CAGR of 3%.

Absorption chillers use thermal energy to pump with the least amount of mechanical energy, and they can be powered by steam, hot water, natural gas, or wastewater. There are two types of commercial absorption chillers: single-stage and double-stage systems. A one-stage system employs a single condenser and generator.

Because of the rising popularity of these low-cost cooling solutions, the worldwide absorption chillers market is currently developing. Various characteristics such as inaudible and vibration-free operation, as well as low maintenance and operational costs, are important market drivers for absorption chillers.

Furthermore, increased popularity in the industrial sector, notably the petrochemical industry, is expected to boost market development throughout the projection period. Furthermore, because absorption chillers are more ecologically friendly than traditional vapor compressors due to fewer pollutant and hazardous gas emissions, rigorous government regulation on the use of absorption chillers is another key driver driving the market growth.

However, higher initial chiller installation costs are a fundamental constraint in the worldwide absorption chillers sector. Furthermore, rising electricity rates and power shortages are two major impediments to industry development.

Which Drivers underpin Absorption Chillers Industry Expansion?

Increasing Demand for Non-Electricity-Driven Equipment to Accelerate the Market Growth

Non-electricity-driven equipment is increasingly in demand from a range of end-use sectors where primary sources might be utilized more efficiently. As a result, solar-powered absorption chillers for large chilling operations have gained significant interest in the market. Such absorption chillers provide optimum cooling efficiency while minimizing electrical energy consumption, hence lessening the summer's ever-increasing demand for power. This, in turn, is expected to fuel market growth in the approaching years.

A CLFR solar collector field, for example, has been built to power a 1MW chiller that will supply air conditioning for a 500-seat showcase football stadium in Doha, Qatar, for the Football World Cup 2022.

An air conditioning device is required to ensure that turbines and engines run effectively. The ideal temperature for turbine efficiency is around 1500°C. However, maintaining this temperature becomes problematic, especially in the Asia Pacific and the Middle East, where average temperatures reach 2500 degrees Celsius.

As a result, absorption chillers are commonly employed to avoid heat loss from turbines, which may then be effectively used as power absorption chillers at low fuel costs. As a result, the growing number of turbines with efficient heat rate needs is expected to drive market expansion in the near future.

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Which Factors are limiting the Growth of Absorption Chillers Market?

High Initial Cost of Industrial Absorption Chillers to Impede the Market Growth

Industrial absorption chillers are far more costly than standard chiller systems. When calculating the running cost of an industrial absorption chillers system, building operators should include the initial setup cost, operational cost, and energy savings. For equivalent capacity installations, industrial absorption chillers have a higher initial setup cost than commercial absorption chillers.

Furthermore, while establishing chiller systems, operators fail to consider operational expenses, resulting in the acquisition of less expensive HVAC systems. This is why small-scale firms seek cost-effective solutions with low initial setup costs. Furthermore, the long-term benefits of industrial absorption chillers are not sufficiently communicated to industries, suppressing absorption chiller demand and restricting market expansion.

Fluorinated gas (F-gas) laws are one of the most significant challenges facing the chiller industry, impacting the use of absorption chillers as evaporator coils and condensers. The European Union (EU) suggested major changes to F-gas regulations in order to reduce hydrofluorocarbon emissions (HFCs).

The use of hydrofluorocarbons (HFCs) is forbidden in a number of applications. Only if the systems in issue fulfill the Ecodesign requirements are HFC refrigerants authorized. Similar changes are taking place in the USA (Significant New Alternative Policy) and China. Such stringent requirements for reducing F-gas emissions pose a substantial barrier to the growth of the absorption chillers industry.

Region-wise Insights

What is the market outlook for North American absorption chillers?

Region's Increasing Usage of Absorption Chillers for the Food Processing and Petroleum Sectors to Fuel the Market Growth

In terms of market share and revenue, the North American market is predicted to grow steadily between 2022 and 2032. Future Market Insights researchers project that by 2022, the market for absorption chillers in North America will account for 23.4% of the global market.

North America is a very profitable location for absorption chillers due to the huge increase in the usage of absorption chillers for the food processing and petroleum sectors. Furthermore, the region's need for absorption chillers is growing as a result of the rising usage of environmentally friendly cooling equipment in a variety of end-use sectors such as plastics, rubber, chemicals & petrochemicals, and medical & pharmaceutical.

Because of the production of various gases during the cooling process, governments are stressing energy saving and environmental preservation. As a result, absorption chillers are increasingly being used since they release very little CO2 and other harmful pollutants. Absorption chillers' energy efficiency and a higher degree of cooling with less environmental effect are expanding the market for absorption chillers.

What is propelling the growth of Absorption Chillers in Europe?

Steady Demand from the Frozen Food Industry to Fuel the Market Growth

By 2022, Europe will control around 17.9% of the worldwide market. During the forecast period of 2022 to 2032, this region is predicted to steadily increase the global absorption chillers market.

The development of the European absorption chillers market is likely to be driven by steady demand from the frozen food industry. Product demand in Europe's food and beverage industry contributed to more than 21% of the region's industrial sector income, owing to customers' increased concern for eco-friendly goods.

The government's objective of reaching carbon neutrality by 2050 is also driving demand for the European absorption chillers market throughout the forecast period. Furthermore, increased demand in Southern Europe for small and medium-power chillers units is likely to drive regional product demand.

What Should the Asia Pacific Market Expect During the Projected Timeframe?

Expanding the Number of Data Centres in the Region to Accelerate Market

Asia Pacific is expected to dominate the market and accounts for 44% of global revenue in 2022 as a result of investments in the residential and commercial building sectors. The region's expanding number of data centers is likely to drive the chillers market growth during the forecast period.

The fast growth of transportation infrastructure in the Kingdom of Saudi Arabia (KSA) is projected to spur residential and commercial development in the surrounding areas, raising product demand throughout the projection period. Increased tourism, population growth, and fast urbanization are driving the construction sector, which in turn is propelling the growth of the country's absorption chillers market.

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Category-wise Insights

Which type of Absorption Chillers is predicted to dominate in terms of End Use?

The Commercial Absorption Chillers Segment to Drive the Absorption Chillers Market

Commercial absorption chillers are estimated to provide 44.6% of worldwide sales in 2022. Absorption chillers are used to maintain the temperature steady in commercial buildings such as corporate offices, educational institutions, public buildings, data centres, healthcare facilities, and warehouses during hot weather.

Absorption chillers are used in data centres to cool the heat generated in high-density enclosed rooms. The demand to keep data centres at a consistent temperature, humidity, air purity, and air circulation to reduce downtime and equipment failure is expected to drive commercial product adoption throughout the projection period.

The Start-up Ecosystem: How key Players are opening Frontiers for Future Growth?

  • Critical Power Products and Services, LLC is an industrial chillers distributor. There are air-cooled, water-cooled, and liquid absorption chillers with various functionalities available. Three-phase models are available with a range of refrigerants including R-123, R-134A, and R-22. The capacity ranges from 120 to 910 tonnes, the rated voltage ranges from 460 to 575 volts, and the frequency ranges from 60 to 60 Hz.
  • Trusteel LLC designs and manufactures automated solvent cooling systems out of stainless steel, PTFE, and borosilicate. The parameters include a rated voltage of 208/240 V, a current of 20 A, and a chilled solvent flow rate of 300 gal/h at -60 degrees C. Among the features are alarms, continuous process flow, an integrated fail-safe, data logging, and remote control. Acetone, acetonitrile, ethanol, heptane, hexane, and methanol are all acceptable solvents. The FDA approved. UL-approved products are manufactured in the United States.

Who are the Leading Players in the Absorption Chillers Market?

Thermax Ltd, Helioclim, MultiChill Technologies Inc, Kirloskar Pneumatic Company Ltd, World Energy Absorption, Absorption chillers Europe Ltd, Johnson Controls, Inc., LG Air Conditioning (Shandong) Co., Ltd., Hitachi Appliances Inc., EAW, Energieanlagenbau GmbH, Carrier Corporation, Century Corporation, Yazaki Energy Systems Inc. are key players in this market.

Recent Developments:

  • Johnson Controls, Inc. designs and manufactures standard and bespoke air-handling systems, rooftop systems, and sustainable environments, as well as lead-acid and lithium-ion batteries, building efficiency and technology solutions, and HVAC equipment such as absorption chillers. They also offer training, maintenance, leasing, and repair.
  • Carrier Corporation manufactures commercial refrigeration systems. Refrigeration systems include air-cooled condensing units, absorption chillers, air-cooled gas coolers, compressor racks, multi-rack compressors, heating systems, and heat exchangers. Their uses include cash and carry, supermarkets, hypermarkets, discount shops, persuade stores, small merchants, and distribution hubs.

Report Scope

Report Attribute Details
Growth Rate CAGR of 4.5% from 2022 to 2032
Market Value in 2022 US$ 1,532.7 million
Market Value in 2032 US$ 2,376.8 million
Base Year for Estimation 2021
Historical Data 2017 to 2021
Forecast Period 2022 to 2032
Quantitative Units Revenue in US$ Million and CAGR from 2022 to 2032
Report Coverage Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered
  • Source of Energy
  • Refrigerant
  • Packaging
  • Application
  • End Use
  • Region
Regions Covered
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • The Middle East and Africa (MEA)
Key Countries Profiled
  • USA
  • Canada
  • Mexico
  • Brazil
  • Germany
  • Italy
  • France
  • United Kingdom
  • Spain
  • China
  • Japan
  • South Korea
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • GCC Countries
  • South Africa
  • Israel
Key Companies Profiled
  • Thermax Ltd
  • Helioclim
  • MultiChill Technologies Inc.
  • Kirloskar Pneumatic Company Ltd
  • World Energy Absorption Chillers Europe Ltd
  • LG Air Conditioning (Shandong) Co. Ltd.
  • Johnson Controls, Inc.
  • Hitachi Appliances Inc.
  • EAW Energieanlagenbau GmbH
  • Carrier Corporation
  • Century Corporation
  • Yazaki Energy Systems Inc.

Key Segments Covered in the Absorption Chillers Industry Analysis

Absorption Chillers Market by Source of Energy:

  • Direct Fired Absorption Chillers
  • Steam-heated Absorption Chillers
  • Hot Water Heated Absorption Chillers
  • Gaseous Fuels powered Absorption Chillers

Absorption Chillers Market by Refrigerant:

  • Ammonia Absorption Chillers
  • Lithium Bromide (Brine) Absorption Chillers

Absorption Chillers Market by Packaging:

  • Modular Absorption Chillers
  • Packaged Absorption Chillers

Absorption Chillers Market by Application:

  • Absorption Chillers for Food Storage
  • Absorption Chillers for Air Conditioning

Absorption Chillers Market By End Use:

  • Absorption Chillers for Industrial Use
  • Absorption Chillers for Commercial Use
  • Absorption Chillers for Residential Use

Absorption Chillers Market by Region:

  • North America Absorption Chillers Market
  • Latin America Absorption Chillers Market
  • Europe Absorption Chillers Market
  • Asia Pacific Absorption Chillers Market
  • Middle East & Africa Absorption Chillers Market

Frequently Asked Questions

At what value did the absorption chillers market close in 2022?

By 2022 end, sales of absorption chillers closed at a value of US$ 1,532.7 million

What was the last 4 years value CAGR for absorption chillers market value?

From 2017 to 2021, absorption chillers demand expanded at a CAGR of 3%

What is the projected forecast CAGR for the absorption chillers industry from 2022 to 2032?

From 2022 to 2032, absorption chillers sales are expected to flourish at a CAGR of 4.5%

According to FMI, what is the anticipated market value for absorption chillers in 2032?

By 2032, the market value of absorption chillers is expected to reach US$ 2,376.8 million

By end user, which category ranks first with regard to absorption chillers?

By end users, commercial absorption chillers are expected to dominate the market in 2022.

Table of Content

1. Executive Summary | Absorption Chillers Market

    1.1. Global Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Product Life Cycle Analysis

    3.5. Supply Chain Analysis

        3.5.1. Supply Side Participants and their Roles

            3.5.1.1. Producers

            3.5.1.2. Mid-Level Participants (Traders/ Agents/ Brokers)

            3.5.1.3. Wholesalers and Distributors

        3.5.2. Value Added and Value Created at Node in the Supply Chain

        3.5.3. List of Raw Material Suppliers

        3.5.4. List of Existing and Potential Buyers

    3.6. Investment Feasibility Matrix

    3.7. Value Chain Analysis

        3.7.1. Profit Margin Analysis

        3.7.2. Wholesalers and Distributors

        3.7.3. Retailers

    3.8. PESTLE and Porter’s Analysis

    3.9. Regulatory Landscape

        3.9.1. By Key Regions

        3.9.2. By Key Countries

    3.10. Regional Parent Market Outlook

    3.11. Production and Consumption Statistics

    3.12. Import and Export Statistics

4. Global Market Analysis 2016 to 2021 and Forecast, 2022 to 2032

    4.1. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis, 2016 to 2021

    4.2. Current and Future Market Size Value (US$ Million) & Volume (Unit) Projections, 2022 to 2032

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Source of Energy

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Source of Energy, 2016 to 2021

    5.3. Current and Future Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Source of Energy, 2022 to 2032

        5.3.1. Direct Fired

        5.3.2. Steam Heated

        5.3.3. Hot-Water Heated

        5.3.4. Gaseous Fuels

    5.4. Y-o-Y Growth Trend Analysis By Source of Energy, 2016 to 2021

    5.5. Absolute $ Opportunity Analysis By Source of Energy, 2022 to 2032

6. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Refrigerant

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Refrigerant, 2016 to 2021

    6.3. Current and Future Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Refrigerant, 2022 to 2032

        6.3.1. Ammonia

        6.3.2. Lithium Bromide (Brine)

    6.4. Y-o-Y Growth Trend Analysis By Refrigerant, 2016 to 2021

    6.5. Absolute $ Opportunity Analysis By Refrigerant, 2022 to 2032

7. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Packaging of Chillers

    7.1. Introduction / Key Findings

    7.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Packaging of Chillers, 2016 to 2021

    7.3. Current and Future Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Packaging of Chillers, 2022 to 2032

        7.3.1. Modular Chillers

        7.3.2. Packaged Chillers

    7.4. Y-o-Y Growth Trend Analysis By Packaging of Chillers, 2016 to 2021

    7.5. Absolute $ Opportunity Analysis By Packaging of Chillers, 2022 to 2032

8. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Applications

    8.1. Introduction / Key Findings

    8.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Applications, 2016 to 2021

    8.3. Current and Future Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Applications, 2022 to 2032

        8.3.1. Food Storage

        8.3.2. Air Conditioning

    8.4. Y-o-Y Growth Trend Analysis By Applications, 2016 to 2021

    8.5. Absolute $ Opportunity Analysis By Applications, 2022 to 2032

9. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By End Use

    9.1. Introduction / Key Findings

    9.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By End Use, 2016 to 2021

    9.3. Current and Future Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By End Use, 2022 to 2032

        9.3.1. Industrial

        9.3.2. Commercial

        9.3.3. Residential

    9.4. Y-o-Y Growth Trend Analysis By End Use, 2016 to 2021

    9.5. Absolute $ Opportunity Analysis By End Use, 2022 to 2032

10. Global Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Region

    10.1. Introduction

    10.2. Historical Market Size Value (US$ Million) & Volume (Unit) Analysis By Region, 2016 to 2021

    10.3. Current Market Size Value (US$ Million) & Volume (Unit) Analysis and Forecast By Region, 2022 to 2032

        10.3.1. North America

        10.3.2. Latin America

        10.3.3. Europe

        10.3.4. Asia Pacific

        10.3.5. Middle East and Africa

    10.4. Market Attractiveness Analysis By Region

11. North America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country

    11.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2016 to 2021

    11.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2022 to 2032

        11.2.1. By Country

            11.2.1.1. USA

            11.2.1.2. Canada

        11.2.2. By Source of Energy

        11.2.3. By Refrigerant

        11.2.4. By Packaging of Chillers

        11.2.5. By Applications

        11.2.6. By End Use

    11.3. Market Attractiveness Analysis

        11.3.1. By Country

        11.3.2. By Source of Energy

        11.3.3. By Refrigerant

        11.3.4. By Packaging of Chillers

        11.3.5. By Applications

        11.3.6. By End Use

    11.4. Key Takeaways

12. Latin America Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country

    12.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2016 to 2021

    12.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2022 to 2032

        12.2.1. By Country

            12.2.1.1. Brazil

            12.2.1.2. Mexico

            12.2.1.3. Rest of Latin America

        12.2.2. By Source of Energy

        12.2.3. By Refrigerant

        12.2.4. By Packaging of Chillers

        12.2.5. By Applications

        12.2.6. By End Use

    12.3. Market Attractiveness Analysis

        12.3.1. By Country

        12.3.2. By Source of Energy

        12.3.3. By Refrigerant

        12.3.4. By Packaging of Chillers

        12.3.5. By Applications

        12.3.6. By End Use

    12.4. Key Takeaways

13. Europe Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country

    13.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2016 to 2021

    13.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2022 to 2032

        13.2.1. By Country

            13.2.1.1. Germany

            13.2.1.2. United Kingdom

            13.2.1.3. France

            13.2.1.4. Spain

            13.2.1.5. Italy

            13.2.1.6. Rest of Europe

        13.2.2. By Source of Energy

        13.2.3. By Refrigerant

        13.2.4. By Packaging of Chillers

        13.2.5. By Applications

        13.2.6. By End Use

    13.3. Market Attractiveness Analysis

        13.3.1. By Country

        13.3.2. By Source of Energy

        13.3.3. By Refrigerant

        13.3.4. By Packaging of Chillers

        13.3.5. By Applications

        13.3.6. By End Use

    13.4. Key Takeaways

14. Asia Pacific Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country

    14.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2016 to 2021

    14.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2022 to 2032

        14.2.1. By Country

            14.2.1.1. China

            14.2.1.2. Japan

            14.2.1.3. South Korea

            14.2.1.4. Malaysia

            14.2.1.5. Singapore

            14.2.1.6. Australia

            14.2.1.7. New Zealand

            14.2.1.8. Rest of Asia Pacific

        14.2.2. By Source of Energy

        14.2.3. By Refrigerant

        14.2.4. By Packaging of Chillers

        14.2.5. By Applications

        14.2.6. By End Use

    14.3. Market Attractiveness Analysis

        14.3.1. By Country

        14.3.2. By Source of Energy

        14.3.3. By Refrigerant

        14.3.4. By Packaging of Chillers

        14.3.5. By Applications

        14.3.6. By End Use

    14.4. Key Takeaways

15. Middle East and Africa Market Analysis 2016 to 2021 and Forecast 2022 to 2032, By Country

    15.1. Historical Market Size Value (US$ Million) & Volume (Unit) Trend Analysis By Market Taxonomy, 2016 to 2021

    15.2. Market Size Value (US$ Million) & Volume (Unit) Forecast By Market Taxonomy, 2022 to 2032

        15.2.1. By Country

            15.2.1.1. GCC Countries

            15.2.1.2. South Africa

            15.2.1.3. Israel

            15.2.1.4. Rest of Middle East and Africa

        15.2.2. By Source of Energy

        15.2.3. By Refrigerant

        15.2.4. By Packaging of Chillers

        15.2.5. By Applications

        15.2.6. By End Use

    15.3. Market Attractiveness Analysis

        15.3.1. By Country

        15.3.2. By Source of Energy

        15.3.3. By Refrigerant

        15.3.4. By Packaging of Chillers

        15.3.5. By Applications

        15.3.6. By End Use

    15.4. Key Takeaways

16. Key Countries Market Analysis

    16.1. USA

        16.1.1. Pricing Analysis

        16.1.2. Market Share Analysis, 2021

            16.1.2.1. By Source of Energy

            16.1.2.2. By Refrigerant

            16.1.2.3. By Packaging of Chillers

            16.1.2.4. By Applications

            16.1.2.5. By End Use

    16.2. Canada

        16.2.1. Pricing Analysis

        16.2.2. Market Share Analysis, 2021

            16.2.2.1. By Source of Energy

            16.2.2.2. By Refrigerant

            16.2.2.3. By Packaging of Chillers

            16.2.2.4. By Applications

            16.2.2.5. By End Use

    16.3. Brazil

        16.3.1. Pricing Analysis

        16.3.2. Market Share Analysis, 2021

            16.3.2.1. By Source of Energy

            16.3.2.2. By Refrigerant

            16.3.2.3. By Packaging of Chillers

            16.3.2.4. By Applications

            16.3.2.5. By End Use

    16.4. Mexico

        16.4.1. Pricing Analysis

        16.4.2. Market Share Analysis, 2021

            16.4.2.1. By Source of Energy

            16.4.2.2. By Refrigerant

            16.4.2.3. By Packaging of Chillers

            16.4.2.4. By Applications

            16.4.2.5. By End Use

    16.5. Germany

        16.5.1. Pricing Analysis

        16.5.2. Market Share Analysis, 2021

            16.5.2.1. By Source of Energy

            16.5.2.2. By Refrigerant

            16.5.2.3. By Packaging of Chillers

            16.5.2.4. By Applications

            16.5.2.5. By End Use

    16.6. United Kingdom

        16.6.1. Pricing Analysis

        16.6.2. Market Share Analysis, 2021

            16.6.2.1. By Source of Energy

            16.6.2.2. By Refrigerant

            16.6.2.3. By Packaging of Chillers

            16.6.2.4. By Applications

            16.6.2.5. By End Use

    16.7. France

        16.7.1. Pricing Analysis

        16.7.2. Market Share Analysis, 2021

            16.7.2.1. By Source of Energy

            16.7.2.2. By Refrigerant

            16.7.2.3. By Packaging of Chillers

            16.7.2.4. By Applications

            16.7.2.5. By End Use

    16.8. Spain

        16.8.1. Pricing Analysis

        16.8.2. Market Share Analysis, 2021

            16.8.2.1. By Source of Energy

            16.8.2.2. By Refrigerant

            16.8.2.3. By Packaging of Chillers

            16.8.2.4. By Applications

            16.8.2.5. By End Use

    16.9. Italy

        16.9.1. Pricing Analysis

        16.9.2. Market Share Analysis, 2021

            16.9.2.1. By Source of Energy

            16.9.2.2. By Refrigerant

            16.9.2.3. By Packaging of Chillers

            16.9.2.4. By Applications

            16.9.2.5. By End Use

    16.10. China

        16.10.1. Pricing Analysis

        16.10.2. Market Share Analysis, 2021

            16.10.2.1. By Source of Energy

            16.10.2.2. By Refrigerant

            16.10.2.3. By Packaging of Chillers

            16.10.2.4. By Applications

            16.10.2.5. By End Use

    16.11. Japan

        16.11.1. Pricing Analysis

        16.11.2. Market Share Analysis, 2021

            16.11.2.1. By Source of Energy

            16.11.2.2. By Refrigerant

            16.11.2.3. By Packaging of Chillers

            16.11.2.4. By Applications

            16.11.2.5. By End Use

    16.12. South Korea

        16.12.1. Pricing Analysis

        16.12.2. Market Share Analysis, 2021

            16.12.2.1. By Source of Energy

            16.12.2.2. By Refrigerant

            16.12.2.3. By Packaging of Chillers

            16.12.2.4. By Applications

            16.12.2.5. By End Use

    16.13. Malaysia

        16.13.1. Pricing Analysis

        16.13.2. Market Share Analysis, 2021

            16.13.2.1. By Source of Energy

            16.13.2.2. By Refrigerant

            16.13.2.3. By Packaging of Chillers

            16.13.2.4. By Applications

            16.13.2.5. By End Use

    16.14. Singapore

        16.14.1. Pricing Analysis

        16.14.2. Market Share Analysis, 2021

            16.14.2.1. By Source of Energy

            16.14.2.2. By Refrigerant

            16.14.2.3. By Packaging of Chillers

            16.14.2.4. By Applications

            16.14.2.5. By End Use

    16.15. Australia

        16.15.1. Pricing Analysis

        16.15.2. Market Share Analysis, 2021

            16.15.2.1. By Source of Energy

            16.15.2.2. By Refrigerant

            16.15.2.3. By Packaging of Chillers

            16.15.2.4. By Applications

            16.15.2.5. By End Use

    16.16. New Zealand

        16.16.1. Pricing Analysis

        16.16.2. Market Share Analysis, 2021

            16.16.2.1. By Source of Energy

            16.16.2.2. By Refrigerant

            16.16.2.3. By Packaging of Chillers

            16.16.2.4. By Applications

            16.16.2.5. By End Use

    16.17. GCC Countries

        16.17.1. Pricing Analysis

        16.17.2. Market Share Analysis, 2021

            16.17.2.1. By Source of Energy

            16.17.2.2. By Refrigerant

            16.17.2.3. By Packaging of Chillers

            16.17.2.4. By Applications

            16.17.2.5. By End Use

    16.18. South Africa

        16.18.1. Pricing Analysis

        16.18.2. Market Share Analysis, 2021

            16.18.2.1. By Source of Energy

            16.18.2.2. By Refrigerant

            16.18.2.3. By Packaging of Chillers

            16.18.2.4. By Applications

            16.18.2.5. By End Use

    16.19. Israel

        16.19.1. Pricing Analysis

        16.19.2. Market Share Analysis, 2021

            16.19.2.1. By Source of Energy

            16.19.2.2. By Refrigerant

            16.19.2.3. By Packaging of Chillers

            16.19.2.4. By Applications

            16.19.2.5. By End Use

17. Market Structure Analysis

    17.1. Competition Dashboard

    17.2. Competition Benchmarking

    17.3. Market Share Analysis of Top Players

        17.3.1. By Regional

        17.3.2. By Source of Energy

        17.3.3. By Refrigerant

        17.3.4. By Packaging of Chillers

        17.3.5. By Applications

        17.3.6. By End Use

18. Competition Analysis

    18.1. Competition Deep Dive

        18.1.1. Thermax Ltd

            18.1.1.1. Overview

            18.1.1.2. Product Portfolio

            18.1.1.3. Profitability by Market Segments

            18.1.1.4. Sales Footprint

            18.1.1.5. Strategy Overview

                18.1.1.5.1. Marketing Strategy

                18.1.1.5.2. Product Strategy

                18.1.1.5.3. Channel Strategy

        18.1.2. Helioclim

            18.1.2.1. Overview

            18.1.2.2. Product Portfolio

            18.1.2.3. Profitability by Market Segments

            18.1.2.4. Sales Footprint

            18.1.2.5. Strategy Overview

                18.1.2.5.1. Marketing Strategy

                18.1.2.5.2. Product Strategy

                18.1.2.5.3. Channel Strategy

        18.1.3. MultiChill Technologies Inc.

            18.1.3.1. Overview

            18.1.3.2. Product Portfolio

            18.1.3.3. Profitability by Market Segments

            18.1.3.4. Sales Footprint

            18.1.3.5. Strategy Overview

                18.1.3.5.1. Marketing Strategy

                18.1.3.5.2. Product Strategy

                18.1.3.5.3. Channel Strategy

        18.1.4. Kirloskar Pneumatic Company Ltd

            18.1.4.1. Overview

            18.1.4.2. Product Portfolio

            18.1.4.3. Profitability by Market Segments

            18.1.4.4. Sales Footprint

            18.1.4.5. Strategy Overview

                18.1.4.5.1. Marketing Strategy

                18.1.4.5.2. Product Strategy

                18.1.4.5.3. Channel Strategy

        18.1.5. World Energy Europe Ltd

            18.1.5.1. Overview

            18.1.5.2. Product Portfolio

            18.1.5.3. Profitability by Market Segments

            18.1.5.4. Sales Footprint

            18.1.5.5. Strategy Overview

                18.1.5.5.1. Marketing Strategy

                18.1.5.5.2. Product Strategy

                18.1.5.5.3. Channel Strategy

        18.1.6. LG Air Conditioning (Shandong) Co., Ltd.

            18.1.6.1. Overview

            18.1.6.2. Product Portfolio

            18.1.6.3. Profitability by Market Segments

            18.1.6.4. Sales Footprint

            18.1.6.5. Strategy Overview

                18.1.6.5.1. Marketing Strategy

                18.1.6.5.2. Product Strategy

                18.1.6.5.3. Channel Strategy

        18.1.7. Hitachi Appliances Inc.

            18.1.7.1. Overview

            18.1.7.2. Product Portfolio

            18.1.7.3. Profitability by Market Segments

            18.1.7.4. Sales Footprint

            18.1.7.5. Strategy Overview

                18.1.7.5.1. Marketing Strategy

                18.1.7.5.2. Product Strategy

                18.1.7.5.3. Channel Strategy

        18.1.8. EAW Energieanlagenbau GmbH

            18.1.8.1. Overview

            18.1.8.2. Product Portfolio

            18.1.8.3. Profitability by Market Segments

            18.1.8.4. Sales Footprint

            18.1.8.5. Strategy Overview

                18.1.8.5.1. Marketing Strategy

                18.1.8.5.2. Product Strategy

                18.1.8.5.3. Channel Strategy

        18.1.9. Carrier Corporation

            18.1.9.1. Overview

            18.1.9.2. Product Portfolio

            18.1.9.3. Profitability by Market Segments

            18.1.9.4. Sales Footprint

            18.1.9.5. Strategy Overview

                18.1.9.5.1. Marketing Strategy

                18.1.9.5.2. Product Strategy

                18.1.9.5.3. Channel Strategy

        18.1.10. Century Corporation

            18.1.10.1. Overview

            18.1.10.2. Product Portfolio

            18.1.10.3. Profitability by Market Segments

            18.1.10.4. Sales Footprint

            18.1.10.5. Strategy Overview

                18.1.10.5.1. Marketing Strategy

                18.1.10.5.2. Product Strategy

                18.1.10.5.3. Channel Strategy

        18.1.11. Yazaki Energy Systems Inc.

            18.1.11.1. Overview

            18.1.11.2. Product Portfolio

            18.1.11.3. Profitability by Market Segments

            18.1.11.4. Sales Footprint

            18.1.11.5. Strategy Overview

                18.1.11.5.1. Marketing Strategy

                18.1.11.5.2. Product Strategy

                18.1.11.5.3. Channel Strategy

19. Assumptions & Acronyms Used

20. Research Methodology

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