The report “Condensing Unit Market by Type (Air-cooled, Water-cooled), Application (Industrial, Commercial, Transportation), Function (Air Conditioning, Refrigeration, Heat Pumps), Refrigerant Type, Compressor Type and Region – Global Forecast to 2027″, The condensing unit market is projected to grow from USD 39.0 billion in 2022 to USD 57.1 billion by 2027, at a CAGR of 7.9% from 2022 to 2027. Growing cold chain infrastructure in emerging countries such as India, China, and Indonesia due to increase in online grocery market along with growing preference towards packaged food, growing data center market globally, expansion in supermarket and hypermarket chain, increasing footprint of convenience and proximity stores are the key drivers for growth in the condensing unit market.
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• 280 Market data Tables
• 52 Figures
• 240 Pages and in-depth TOC on “Condensing Unit Market – Global Forecast to 2027″
Some of the prominent key players are:
- Emerson Electric Co. (US)
- Carrier Global Corporation (US)
- Danfoss (Denmark)
- GEA Group Aktiengesellschaft (Germany)
- Heatcraft Refrigeration Products LLC (US)
- BITZER SE (Germany)
Opportunity: Technological advancements leading to the introduction of efficient condensing units
There is an increase in demand for condensing units due to technological advancements, for instance, the introduction of the latest models like the Copeland Scroll XJ Series for outdoor applications. The introduction of efficient condensing units will lead to a reduction in their replacement requirements, thus acting as a major contributor to the growth of the condensing unit market.
By type, the air-cooled condensing unit segment accounted for the largest market share in 2021, in terms of value.
Growing industrialization and urbanization offer significant opportunities for the use of high-performance air-cooled condensing units in the Asia Pacific region. Other major factors influencing the growth of condensing unit market include increased demand for food storage equipment, data centers, super & hyper markets, and others.
The Asia Pacific condensing unit market has the largest market share in 2021, in terms of value.
The Asia Pacific condensing unit market has the largest market share in 2021 in terms of value. The markets growth can be attributed to increasing demand for the storage of convenience products, such as packaged foods, dairy products, etc. Also, the growth was further propelled by the rise in demand for condensing units from supermarkets and organized retail food chains.
