Home Press Releases Condensing Unit Market Size Worth $70.6 Billion By 2030 | CAGR: 7.7%

Condensing Unit Market Size Worth $70.6 Billion By 2030 | CAGR: 7.7%

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.

 

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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 Kühlmaschinenbau 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

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