Condensing Unit Market to Witness Robust Expansion Throughout the Forecast Period
Stratview Research has published a new report titled “Condensing Unit Market” which is segmented by Application Type (Commercial, Industrial, and Transportation), by Compressor Type (Reciprocating Compressors, Screw Compressors, Rotary Compressors, and Others), by Product Type (Air-Cooled Condensing Unit, Water-Cooled Condensing Unit, and Evaporative Condensing Unit), by Function Type (Air Conditioning, Refrigeration, and Heat Pumps), by Refrigerant Type (Fluorocarbons, Hydrocarbons, and Inorganics), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, condensing unit market is likely to grow from USD 38.22 billion in 2022 to 60.33 billion by 2028 at an impressive CAGR of 7.9% during the forecast period. The prime factor bolstering the growth of the market for condensing unit is its growing demand majorly from the food production and services.
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
Based on the application type, the market is segmented as commercial, industrial, and transportation. The industrial segment is projected to maintain its dominance over the forecast period owing to the rising demand from various application areas, such as retail stores, power plants, hospitals, dairy cabinets, cooling systems, and cryogenic containers.
Based on the product type, the market is segmented as air-cooled condensing unit, water-cooled condensing unit, and evaporative condensing unit. The air-cooled condensing unit segment is projected to maintain its leading position over the forecast period as it offers easy installation and low maintenance.
Which Region is expected to remain the largest market?
In terms of regions, Asia-Pacific is projected to be the largest market. The Asia-Pacific’s market is expected to grow with a lucrative CAGR due to the growing population, expanding food product and services coupled with growing investments in chemicals & petrochemicals. China and India are the growth engines of the region.
Who are the Key Players in the Market?
This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen in the Condensing Unit Market:
- Emerson Electric Co.
- Carrier Global Corporation
- GEA Group Aktiengesellschaft
- Heatcraft Refrigeration Products LLC
- Voltas Limited
- Bitzer SE
- Advansor A/S
- Baltimore Aircoil Company
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