PUBLISHER: Polaris Market Research | PRODUCT CODE: 1175622
PUBLISHER: Polaris Market Research | PRODUCT CODE: 1175622
The global condensing unit market size is expected to reach USD 70.6 billion by 2030, according to a new study by Polaris Market Research. The report "Condensing Unit Market Share, Size, Trends, Industry Analysis Report, By Application (Commercial, Industrial, and Transportation); By Type; By Refrigerant Type; By Function; By Region; Segment Forecast, 2022-2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.
Condensing units are increasingly being used worldwide due to the growth of commercial buildings, office space, and dining facilities. Condensers also contribute significantly to the manufacturing of plants, which greatly influences the global condensing unit market.
However, market is constrained by the F-gas (HFCs, PFCs, and SF6) rule that the EU Commission updated in 2015 to edge growing emissions. Also, the introduction of section 608, "Clean Air Act," states that it is illegal for people to use ozone-depleting substances, whether adopted to maintain, repair, or air disposal of air conditioning & refrigeration. This act may hinder market growth to some extent.
The growing demand for creating renewable energy is driving the growth of the condensing unit industry. Synchronous condensers (SCs), a helpful device for stabilizing the energy generated by renewable resources, provide reactive power. Producers of renewable energy, network administrators, and grid reinforcement businesses are increasingly utilizing synchronous condensers to offer more short-circuit capability.
Numerous significant factors are anticipated to support the growth of the global market, including increased infrastructure spending & the rising demand for condensing units in varied industry verticals, including cold storage, food & beverage processing, & refrigerated warehouses. For instance, in August 2021, They debuted a new line of refrigeration condensing units in Japan by the Embraco.
Additionally, the market is growing due to the increasing demand for advanced refrigeration technology from the marine, oil & gas sectors and the growing need for natural refrigerants. A rise in requirement for condensing units from various manufacturing industries and advancing technology are two key drivers anticipated to propel market expansion.
Condensing Unit Market Report Highlights
The commercial segment is anticipated to grow at a high CAGR over the forecast period. Commercial facilities frequently need more than one HVAC unit to supply enough refrigeration for the entire structure.
With the increasing demand for numerous application areas, including retail stores, power plants, hospitals, dairy cabinets, cooling systems, and cryogenic containers, the industrial segment is expected to continue its dominance over the projected timeframe.
Asia Pacific, which is anticipated to expand rapidly throughout the projected period. Increasing living standards and widespread use of refrigeration in daily life fuel demand for product storage are expected to create multiple opportunities for the Asia Pacific region's market to expand.
The global players include Blue Star Limited., BITZER Kuhlmaschinenbau GmbH, Carrier Inc., DAIKIN INDUSTRIES Ltd., Emerson Electric Co., MTA S.p.A., Prijai Heat Exchangers Pvt. Ltd., Tecumseh Products Company, and Voltas Industries Ltd
Polaris Market Research has segmented the condensing unit market report based on application, type, refrigerant type, function, and region:
Condensing Unit, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Commercial
Industrial
Transportation
Condensing Unit, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Water-Cooled
Air-Cooled
Condensing Unit, Refrigerant Type Outlook (Revenue - USD Billion, 2018 - 2030)
Hydrocarbons
Fluorocarbons
Inorganics
Condensing Unit, Function Outlook (Revenue - USD Billion, 2018 - 2030)
Refrigeration
Heat Pumps
Air Conditioning
Condensing Unit, Regional Outlook (Revenue - USD Billion, 2018 - 2030)
North America
U.S
Canada
Europe
Germany
UK
France
Italy
Spain
Russia
Netherlands
Asia Pacific
China
India
Japan
South Korea
Indonesia
Malaysia
Latin America
Argentina
Brazil
Mexico
Middle East & Africa
UAE
Saudi Arabia
Israel
South Africa
Figure 1. Global Condensing Unit Market, 2018 - 2030 (USD Billion)
Figure 2. Integrated Ecosystem
Figure 3. Research Methodology: Top-Down & Bottom-Up Function
Figure 4. Market by Geography
Figure 5. Porter's Five Forces
Figure 6. Market by Application
Figure 7. Global Condensing Unit Market, by Application, 2021 & 2030 (USD Billion)
Figure 8. Market by Function
Figure 9. Global Condensing Unit Market, by Function, 2021 & 2030 (USD Billion)
Figure 10. Market by Refrigerant Type
Figure 11. Global Condensing Unit Market, by Refrigerant Type, 2021 & 2030 (USD Billion)
Figure 12. Market by Type
Figure 13. Global Condensing Unit Market, by Type, 2021 & 2030 (USD Billion)
Figure 14. Condensing Unit Market Assessment, By Geography, 2018 - 2030 (USD Billion)
Figure 15. Strategic Analysis - Condensing Unit Market