Global Condensing Unit Market: Overview

The condensing unit is also known as outdoor HVAC unit. These units could be either a heat pump or an air conditioning unit. A typical HVAC Condensing Unit comes with a compressor, a fan, and a condensing coil. The expansion of the global condensing unit market is mainly fuelled by the increased demand for advanced refrigeration from several application areas.

The global condensing unit market has been segmented based on four parameters, namely type, application, function, and region for better understanding of the market.

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Global Condensing Unit Market: Notable Developments

The global condensing unit market has come across few developments in the recent years. One such development is mentioned below:

  • In February 2019, US-based Emerson Electric Company acquired General Electric’s Intelligent Platforms. The addition of the technologies of programmable logic controller of the latter is likely to expand the already diverse product portfolio of Emerson Electric Company and enhance its machine control capabilities.

Some well-known organizations in the global condensing unit market comprise the below-mentioned:

  • Emerson Electric Company
  • Heatcraft Worldwide Refrigeration
  • GEA Group
  • Danfoss Group
  • Bitzer SE
  • Carrier Corporation

Global Condensing Unit Market: Key Trends

The following drivers, opportunities, and restraints characterize global condensing unit market over the forecast period, from 2019 to 2027.

Technical Advancements in Condensing Units to Accentuate its Demand

The expansion of the global condensing unit market is estimated to be driven by rising demand for improved quality condensing units for various applications. Extended shelf life, better performance, and durability offered by technically advanced products drive the demand for the product in the market. In developed parts of the world, such as North America and Europe, huge demand is generated for these condensing units, which is likely to drive the market substantially during the assessment tenure, from 2019 to2027.

Some of the most common natural refrigerants are CO2, ammonia, and HCs, such as isobutene and propane. Conventional refrigerants are being replaced by natural refrigerants, which are technologically superior cooling equipment. This has led to an increase in the market size natural refrigerants. Natural refrigerants are utilized in applications like heating systems, air-conditioning, and refrigeration.

On the basis of type, the condensing unit market is divided into the segments of and evaporative condensing unit, water-cooled condensing unit, and air-cooled condensing unit. The air-cooled condensing unit segment is likely to hold a large chunk of the global condensing unit market over the assessment tenure, from 2019 to 2017. Such market dominance is due to low installation and maintenance cost, increased shortage of water, and extensive commercial applications.

On the flip side, growing concern about probable harmful effects of Chlorofluorocarbons (CFC) refrigerants on the environment is likely to impede the growth of the global condensing unit market in forthcoming years.

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Global Condensing Unit Market: Geographical Analysis

To give a detailed view of the global condensing unit market, TMR analysts have split the market into five main regions. These regions are Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America.

From the geographical perspective, Asia pacific is estimated to emerge as one of the leading regions in the global condensing unit market. China is estimated to account for the lion’s share of the regional condensing unit market, in terms of value. The government of China is encouraging the use of natural refrigerants in many applications. These refrigerants are particularly preferred in heat pumps, room air conditioners, industrial and commercial uses.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis. 

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Condensing Unit Market

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