Condensing Unit Market by Type (Air-Cooled and Water-Cooled), Compressor Type (Reciprocating Compressors, Screw Compressors, Rotary Compressors, and Others), Refrigerant Type (Fluorocarbons, Hydrocarbons, and Inorganics), End User (Industrial, Commercial, and Residential), Global Market Size Estimates and Forecast (2022-2030)

The condensing unit market is expected to cross US$ 37.5 billion mark in 2022 and is projected to hit US$ 69.9 billion by 2030, recording a CAGR of 8.1% during the forecast period.

The Increasing Number of Infrastructural Projects is likely to Increase the Demand for Condensing Units

The rising number of infrastructural projects in countries like China, India, and Japan is anticipated to provide huge growth opportunities to the market players operating in the condensing unit market. For instance, in May 2021, Danfoss launched multi-refrigerant, A2L-ready condensing units for ultra-low GWP installations. Thus, helping the company to expand its product portfolio.

The report segments the condensing unit market into type, compressor type, refrigerant type, application, and geography. By type, the condensing unit market is further segmented into air-cooled and water-cooled. Based on compressor type, the condensing unit market is segmented into reciprocating compressors, screw compressors, rotary compressors, and others. By refrigerant type, the condensing unit market is categorized into fluorocarbons, hydrocarbons, and inorganics. Based on application, the condensing unit market is divided into industrial, commercial, and residential. Geographically, the condensing unit market is sub-segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa.

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The Increasing Adoption of Renewable Energy Sources is one of the major Factors Accelerating the Market Growth

The condensing unit market is expanding due to the rising need for producing renewable energy. Reactive power is produced by the synchronous condenser (SCs), which are a useful tool for stabilizing the energy produced by renewable resources. Synchronous condensers are being used more and more by renewable energy producers, network operators, and grid reinforcement companies to provide additional short-circuit capability.

Asia Pacific Region is Anticipated to Grow at the Highest CAGR during the Forecast Period

Major factors contributing to the condensing unit market growth in the APAC region are growing population and increasing investments in the chemicals & petrochemicals industry. China is estimated to account for a major revenue share of the APAC condensing unit market. The government of China is encouraging increased usage of natural refrigerants in many applications, such as, room air conditioners, heat pumps, industrial and commercial uses, etc.

Recent Strategic Developments in Condensing Unit Market

The condensing unit market has undergone several significant developments, and a few of these have been mentioned below:

• In August 2021, Embraco, launched a new refrigeration portfolio in Japan condensing units built for the Japanese market needs. The lineup is suited for various applications such as professional kitchen reach-ins, island freezers, supermarket display cases, and refrigerators for medical applications.
• In May 2022, Blue Star Limited announced the launch of its new range of deep freezers and augmented its manufacturing footprint with its new world-class manufacturing facility at Wada.
• In February 2022, French OEM Profroid, part of Carrier Commercial Refrigeration, launched the MiniCO2OL Outdoor, a CO2 (R744) condensing unit with both medium-temperature (MT) and low-temperature (LT) cooling for outdoor installation.

Several players drive the condensing unit market by implementing strategic investments, new launches, mergers & acquisitions, and partnerships. Emerson Electric Co., Carrier Global Corporation, Embraco LLC, GEA Group, Heatcraft Refrigeration Products LLC, BITZER SE, and SCM Frigo S.p.A. are among the prominent players operating in the condensing unit market.

Target audience for the report:

• Raw material suppliers and distributors
• Condensing Unit Manufacturers
• Government bodies, such as associations and policy maker
• Venture capitalists, private equity firms, and start-up companies
• Semiconductor component suppliers
• End users of condensing unit
• Trade Associations
• Research institutes, organizations, and consulting companies

Scope of the condensing unit market report:

In this report, the condensing unit market has been segmented on the basis of:

• Type:
  • Air-Cooled
  • Water-Cooled
• Compressor Type:
  • Reciprocating Compressors
  • Screw Compressors
  • Rotary Compressors
  • Others
• Refrigerant type:
  • Fluorocarbons
  • Hydrocarbons
  • Inorganics
• Application:
  • Industrial
  • Commercial
  • Residential
• Region
  • North America
    • US
    • Canada
    • Mexico
  • Europe
  • Asia Pacific (APAC)
  • South and Central America (SAM)
  • Middle East and Africa (MEA)
• Companies profiled
  • Emerson Electric Co.
  • Carrier Global Corporation
  • Embraco LLC
  • GEA Group
  • Heatcraft Refrigeration Products LLC