The global condensing unit market size was worth around USD 20.20 billion in 2022 and is predicted to grow to around USD 35.00 billion by 2030 with a compound annual growth rate (CAGR) of roughly 7.11% between 2023 and 2030.
The expanding retail industry, the increasing demand for improved, top-notch condensing units for various applications, and the increasing requirement for condensing units in the commercial and industrial sectors of developing economies are some of the most significant factors that will accelerate the market's growth.
Danfoss introduced its Optyma condensing units and MTZ/NTZ compressors in October 2021. Danfoss provides the most extensive selection of A2L-ready refrigeration equipment that is compatible with R1234yf, R454C, and R455A.
The condensing unit converts gases into liquids by cooling them using temperature control mechanisms. This device could be either an air conditioner or a heat exchanger. The majority of appliances, including refrigerators, air conditioners, heat pumps, and chillers, use condensing systems for condensation.
Its three primary components are the compressor, fan, and condensing coil. The energy is transferred in the form of heat by compressing a gas known as a "refrigerant," pumping it through a system of coils, and utilizing the air surrounding the coils to heat and chill areas. Electronic controllers, fans, compressors, and rings all operate the condenser.
Conversely, the expanding demand for natural refrigerants and the increasing technological advancements will present opportunities for market expansion. Transaera is developing an air conditioner that utilizes specific materials to reduce energy consumption in October 2022. Additionally, in August 2022, Danfoss developed an international refrigeration solution that was transported from India.
The technology is merely one of numerous innovations that the Danish technological solutions company's research and development department has developed specifically for India and has subsequently distributed to other nations. However, strict environmental regulations regarding refrigerants will limit the market's growth. The unit market will also be challenging to condense as a result of the increasing complexity and uncertainty of producers.
COVID-19 has significantly affected the operations of condensing unit manufacturers, suppliers, and distributors. The COVID-19-related global closure has had an impact on the condensing market's supply chain. Since China supplies the majority of the material, COVID-19 has stopped the global shipment.
Get a Free Sample : https://www.zionmarketresearch.com/sample/condensing-unit-market
Certain condenser enterprises have temporarily closed as a result of regulatory regulations or a decrease in market demand. Additionally, the business suffered substantial financial losses as a result of the temporary shutdown. The market's development was constrained in the second quarter due to the global decline in export and import cargo, project delays caused by a shortage of labor, and the slow national demand for condensing units, which was a consequence of pre-COVID-19 levels.
The most recent trend
Technological Innovations in Condensing Units to Boost Demand
Global condensing unit market growth is anticipated to be driven by the increasing demand for superior-quality condensing units for a variety of applications. The product's market demand is fueled by the superior performance, durability, and extended shelf life that technologically enhanced items offer. CO2, ammonia, and HCs such as propane and isobutene are among the most frequently used natural refrigerants.
Conventional refrigerants are being replaced by natural refrigerants, which are technologically superior refrigeration equipment. Consequently, the market for natural refrigerants has expanded. Natural refrigerants are employed in a diverse array of applications, such as refrigeration, heating, and chilling. Developed regions of the globe, such as North America and Europe, generate substantial demand for these condensing units, which is anticipated to substantially stimulate the market during the forecast period.
DETERMINANTS OF DRIVING
The expansion of the market is being driven by the increasing expenditure on infrastructure in developing countries.
By compressing a refrigerant, condensing units are temperature-control systems that exchange energy in the form of heat. They heat and chill areas by forcing the refrigerant through a series of coils and heating and cooling surrounding air. The worldwide condensing unit market is expected to experience growth in the coming years, notably in the developing countries of Asia Pacific. This is due to the increasing expenditure on infrastructure. In India, there are numerous infrastructure initiatives in the planning and development stages, including airports and metro rail. The Airport Authority of India (AAI) allocated approximately USD 2.32 billion to the expansion of existing terminals and the construction of 15 new ones during the 2018–19 fiscal year. Furthermore, the airport industry has been expanded to include private engagement, as evidenced by the construction of six PPP (Public-Private Partnership) airports in key cities. Furthermore, it is anticipated that India's airport infrastructure will receive investments in the range of USD 5.99 billion to USD 6.41 billion between FY 2018 and FY 2023. Furthermore, the global condensing unit market is anticipated to be stimulated by the increasing global population and the increasing disposable income, particularly in developing nations.
LIMITATIONS
The market will be restricted by environmental restrictions on refrigerants.
The worldwide condensing unit market may be restricted by the EU Commission's F-gas (HFCs, PFCs, and SF6) regulation, which was updated in 2015 to mitigate the expanding emissions. This also motivates manufacturers of condensing units to enhance their technology, which leads to environmental sustainability and energy savings. Additionally, the market's expansion will be hindered by the increasing number of complications and uncertainties that producers face.
SEGMENTATION
The Condensing Unit Market is segmented by Type, Refrigerant Type, Technology, Application, End-User, and Region. The market is divided into three categories: Air Cooled, Water Cooled, and Fan Cooled. R404a, R134a, R407a/R407c/R407f, R507a or R22, and Green Refrigerants are the categories into which the market is divided based on the refrigerant type. The market is classified into the following categories based on technology: Reciprocating, Hermetic, Semi-Hermetic, Open, Rotary, Scroll, Rotary Vane, Screw, and Centrifugal. The market is divided into three categories: High Temperature, Medium Temperature, and Low Temperature, based on its application. Residential, commercial, and industrial are the three categories into which the market is divided based on end-user. The market is divided into the following regions: North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa.
Directly Purchase a copy of the report with TOC : https://www.zionmarketresearch.com/toc/condensing-unit-market
PERSPECTIVES ON THE REGION
North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa comprise the global Condensing Units Market.
The demand for condensing units in the commercial and industrial sectors, as well as the increasing demand for condensing units in various manufacturing industries, has resulted in North America being the largest market for condensing units.
The Asia-Pacific region is the second-largest market for condensing units as a result of the increasing infrastructure expenditure and disposable income. Additionally, it is anticipated that China will dominate the regional condensing unit market in terms of value. The Chinese government is advocating for the use of natural refrigerants for a variety of applications. Heat exchangers and room air conditioners are the primary applications for these refrigerants.
Condensing Unit Market: Competitive players
The global condensing unit market is led by players like:
- Baltimore Aircoil Company Inc
- Johnson Controls Inc
- DECSA s.r.l.
The global condensing unit market is segmented as follows:
By End User Industries
- Power
- Commercial
- Chemical
By Application
- Air conditioning
- Refrigeration
Global Condensing Unit Market: Regional Segment Analysis
- North America U.S.
- Europe UK France Germany
- Asia Pacific China Japan India
- Latin America Brazil
- The Middle East and Africa
Condensing Unit Industry Segmentation:
Provides an analysis of the key trends in each segment of the market, along with forecasts at the global, regional, and country levels for 2024-2032. Our report has categorized the market based on type, function, compressor type, refrigerant, and end user.
Breakup by Type:
- Air-Cooled
- Water-Cooled
- Others
The market share is primarily dominated by air-cooled systems.
The report has provided a comprehensive analysis and breakdown of the market by type. Air-cooled, water-cooled, and other types are included. The air-cooled segment was the greatest, as indicated by the report.
Air-cooled condensing units are preferred due to their cost-effectiveness and simplicity. They are extensively employed in a variety of applications, such as residential and modest commercial cooling systems. Air-cooled condensing units are appropriate for outdoor installations because they dissipate heat into the surrounding air.
Their popularity is attributable to their compatibility with a diverse array of cooling capacities, reduced installation costs, and ease of maintenance. Furthermore, they are well-suited for regions with moderate climate conditions, as they are capable of effectively managing the refrigeration requirements of the majority of applications.
In larger commercial and industrial contexts, where cooling requirements are substantial, water-cooled condensing units are frequently implemented. Water-cooled condensing units employ water as the heat exchange medium, enabling more efficient cooling in high-temperature environments. In situations where air-cooled devices may not be feasible due to inadequate ventilation or limited space, they are frequently chosen.
Breakup by Function:
- Air Conditioning
- Refrigeration
- Heat Pumps
The industry's greatest share is occupied by air conditioning.
The report also includes a comprehensive analysis and breakdown of the market by function. This encompasses refrigeration, air conditioning, and heat exchangers. The report indicates that air conditioning held the greatest market share.
enquiry for buying : https://www.zionmarketresearch.com/inquiry/condensing-unit-market
The market's largest segment is comprised of air conditioning condensing devices. These units are designed to regulate temperature and provide ventilation in a variety of environments, such as residential, commercial, and industrial spaces. They are essential in the preservation of comfortable indoor environments during sweltering weather.
Air conditioning condensing units are extensively employed in a variety of settings, including homes, offices, retail malls, hotels, and other structures, to ensure that a consistent and comfortable temperature is maintained. These units have gained popularity due to their cooling capabilities and their capacity to decrease energy consumption and operational costs, which has been facilitated by the development of energy-efficient technology.
Refrigeration condensing units are indispensable for the preservation and storage of perishable products. These units are intended to preserve the low temperatures necessary for the secure storage of temperature-sensitive products, including pharmaceuticals and food.
In cold storage warehouses, supermarkets, restaurants, and food processing facilities, refrigeration condensing units are frequently seen. They are endowed with efficient compressors and robust cooling systems to guarantee precise temperature control, prevent spoilage, and ensure product quality.
Heat pump condensing units, despite being a smaller segment in comparison to air conditioning and refrigeration units, are acquiring popularity due to their dual functionality in both heating and cooling applications. These units are frequently employed in residential and certain commercial structures to supply warm air during the winter and cold air during the summer. Heat pump condensing units are highly regarded for their energy efficiency, as they are capable of transferring heat between the interior and outdoor environments.
Contact Us:
Zion Market Research
USA/Canada Toll Free: 1 (855) 465-4651
Newark: 1 (302) 444-0166
Web: https://www.zionmarketresearch.com/
Blog: https://zmrblog.com/
Arabic
French
Spanish
Portuguese
Deutsch
Turkish
Dutch
Italiano
Russian
Romaian
Portuguese (Brazil)
Greek
Siswati