Condensing Unit Market by Type (Air-Cooled, Water-Cooled, Evaporative Condensing Unit), Application (Commercial, Industrial, Transportation), Function (Air Conditioning, Refrigeration), and Region - Global Forecast to 2022
Study papers on Condensing Unit market and regional forecast. Condensing Unit market players are Emerson Electric Company (US), Carrier Corporation(US), Danfoss (Denmark), GEA Group (Germany), Heatcraft Worldwide Refrigeration (US), and BITZER (Germany).
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condensing unit market is projected to grow from an estimated USD 21.94 billion in 2017 to USD 32.47 billion by 2022, at a CAGR of 8.2% from 2017 to 2022.The increase in demand for natural refrigerants such as ammonia, CO2,and HCs is leading to the replacement of traditional refrigerants with natural refrigerants. This, in turn, is driving the demand for condensing units.
Technological advancements and improvements in condensing units are a driving factor for condensing unit market. Various end-use industries, such as retail stores, food production, and food services,., are expected to register healthy growth in the coming years in emerging nations, including China, India, Thailand, and Malaysia.
This, in turn, is expected to lead to an increase in the demand for condensing unit in these countries. Increasing concerns about the high Global Warming Potential (GWP) of common Chlorofluorocarbons (CFC) refrigerants have adversely affected the growth of the condensing unit market in Europe and North America, and this can be a restraint to the market.
- Manufacturers, Dealers, and Suppliers of Condensing Units
- Government and Research Organizations
- Companies Operational in Material R&D
- Associations and Industrial Bodies
- Investment Banks
- Consulting Companies/Consultants in Chemical and Material Sectors
China is the largest market for condensing units in the Asia Pacific region, in terms of value. It has emerged as one of the largest markets for condensing units, asthe country’s government is supporting natural refrigerants in various applications, most importantly in room air conditioners, heat pumps, and commercial & industrial applications.
The Asia Pacific is expected to be the fastest-growing market for condensing units during the forecast period. The key growth driver for the global condensing unit market is the rising demand from the cold storage and warehousing industry.
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Condensing units are used in several industrial applications, such as power plants, petrochemical plants, refineries, and others. The industrial application segment is expected to grow at the highest rate due to the growing demand for advanced refrigeration from various application areas, such as retail stores, power plants, hospitals, dairy cabinets, cryogenic containers, and cooling systems.
2 Market Ranking Analysis
3 Competitive Situations & Trends
3.1 Joint Ventures
3.3 New Product Launches
Report at www.rnrmarketresearch.com/contacts/?rname=646603
The report defines, segments, and projects the condensing unit market based on type, application, function, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers and opportunities.
It also strategically profiles key players and comprehensively analyzes their market shares and core competencies. The report analyzes competitive developments, such as partnerships, contracts, and joint ventures; mergers & acquisitions; expansions; new product launches; and research & development activities undertaken by key players to achieve growth in the market.
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