The report titled “Global Condensing Units Market” assesses the global and regional market based on capacity, type, function, compressor technology, refrigerant type, end-use, and region. A comprehensive report provides a detailed historical and future market size with trend analysis. The report underlines the market share analysis, production capacities by leading players, competition overview, strategic imperatives, annual sales figures, growth avenues, production overview, and competition assessment for the target players assessed in the condensing units market study.
Market Overview and Dynamics: Penetration of condensing units to rise during the forecast period due to growing retail sectors
The global condensing unit market is expected to grow at a robust CAGR of around 8% during the forecast period of 2022-2028. The use of condensing units in refrigerators and air conditioners coupled with rising disposable income to drive the demand for condensing units across the globe.
The global condensing unit market is set to observe robust growth in the next six years. The growing retail sector and increasing demand for the replacement of industrial refrigeration systems due to the demand for energy-efficient, low-operating-cost condensing units are significant factors anticipated to strengthen the market growth.
Asia Pacific is anticipated to gain significant growth owing to the growth in investments and collaborations in condensing unit business. North America and Europe have matured markets for air conditioners and condensing units; however, the growth is expected to remain stable in these regions. Saudi Arabia is expected to dominate the Middle East condensing unit market due to the increasing demand for improved quality condensing units used for various applications.
Segmental Analysis
- On the basis of function, the air conditioning segment is dominating the global market due to increasing demand for air conditioning condensing units from industries like chemical plants, power plants, ice manufacturing units, hotel & catering industry, among others.
- Based on the Compressor technology, Screw AC Compressor is expected to witness substantial growth. Screw compressors are usually restricted to large commercial buildings. Screw compressors are among the most reliable and efficient around, but not cost-effective for smaller applications.
- On the basis of region, North America is anticipated to dominate the global condensing unit market. The U.S is likely to make the maximum contribution to strengthening the industry. The presence of established players in the region further helps North America to hold a prominent share of the global condensing unit market.
Competition Analysis
The global condensing unit market is fragmented in nature with the presence of various players operating in the global market. Players involved in the global condensing unit market adopt various strategies to increase their market share and gain a competitive edge over other competitors. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global condensing units market include,
- In December 2021, CCC Holdings acquired Kobol business, the aim behind the acquisition was to expand their business.
- In November 2021, CCC Holdings announced the acquisition of Arctic I.R.E SA by Roen Est S.p.A. CCC holdings also announced that their plan is to acquire 6-8 businesses over (2020-2030).
Some of the prominent players that contribute significantly to the global condensing units market include Emerson Electric Co., Danfoss, Daikin Industries Ltd., Tecumseh Products Company, Hussmann Corporation, Voltas Limited, Patton Ltd, Rivacold UK Ltd, Heatcraft Worldwide Refrigeration, BITZER Kühlmaschinenbau GmbH, Dorin S.p.A., FRASCOLD SPA, FreezeIndia, Howe Corporation, Blue Star Limited., MTA S.p.A., National Comfort Products., SCM Frigo S.p.A., CCC Holdings Inc., GEA Group Aktiengesellschaft, Prijai Heat Exchangers Pvt. Ltd., KeepRite Refrigeration, Baltimore Aircoil Company, Officine Mario Dorin S.p.A, among others.
RationalStat has segmented the global condensing unit market on the basis of capacity, type, function, compressor technology, refrigerant type, end use, and region.
- By Capacity
- Up to 20 HP
- 20-40 HP
- 40-60 HP
- 60-80 HP
- More than 80 HP
- By Type
- Air-cooled Condensing Units
- Water-cooled Condensing Units
- Evaporative Condensing Units
- By Function
- Air Conditioning
- Refrigeration
- Indoor Refrigeration
- Outdoor Refrigeration
- Heat Pumps
- By Compressor Technology
- Screw AC Compressor
- Centrifugal AC Compressor
- Reciprocating AC Compressor
- Hermetic AC Compressor
- Rotary vane AC Compressor
- Other (Scroll AC compressor)
- By Refrigerant Type
- Fluorocarbons
- Hydrocarbons
- Inorganics
- By End Use
- Residential
- Commercial
- Industrial
- Transportation
- By Region
- North America
- US
- Canada
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Western Europe
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe
- Russia
- Poland
- Rest of Eastern Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- ASEAN (Indonesia, Vietnam, Malaysia, etc.)
- Rest of Asia Pacific
- Middle East & Africa
- GCC
- South Africa
- Turkey
- Rest of the Middle East & Africa
- North America
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