The report, titled "Global Condensing Units Market" examines the regional and global market according to the capacity, type, function compressor technology, refrigerant type, end-use, and location. The report is comprehensive and provides comprehensive historical and projected market size, along with trend analysis. The report provides an analysis of the market share and production capacities of the leading players, an overview of competition strategic imperatives, estimates of annual revenue, development opportunities, the production outline, as well as competition evaluation for the key players analyzed in the condensing unit market study.
Market overview and dynamics: The penetration of condensing units will increase in the coming years because of the growing retail sector
The market for condensing units worldwide is projected to grow by about 8% during the 2022-2028 forecast timeframe. Condensing units are used in air conditioners and refrigerators, and the increase in disposable income will drive sales of condensing units worldwide.
The global market for condensing units is expected to witness significant growth over the coming years. The increasing retail industry and the growing demand for replacement industrial refrigeration systems because of the requirement for energy-efficient condensing units that are low-cost to operate are key factors expected to increase the market's growth.
Asia Pacific is anticipated to grow significantly due to the increase in investment and collaborations in the condensing unit businesses. North America and Europe have developed marketplaces for ACs as well as condensing units. However, the expansion is expected to be steady across these regions. Saudi Arabia is expected to be the dominant player in terms of market share across the Middle East condensing unit market due to the rising demand for higher-quality condensing units for diverse 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
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