- Air-cooled,
- Water-Cooled,
- Evaporative
Condensing Unit Market size is valued at USD 23,675.8 Million in 2022 and is expected to grow at a significant CAGR of 7.9% from 2023 to 2029. The global market provides a detailed overview and that can be segmented into by Product Type, Function, Application, and End User. By product type, the condensing unit market has been segmented into Air-cooled, Water-Cooled, and Evaporative. The air-cooled segment is likely to be the largest and fastest-growing segment in terms of type. Based on function condensing unit market is segmented into Air Conditioning, Refrigeration, and Heat Pumps. Among these, the Air Conditioning segment is expected to have the fastest-growing market during the forecast period 2023-2029. Based on application, condensing unit market is segmented into Residential, Industrial, Commercial, and Transportation. The residential segment accounts for the largest share in 2021. Industrial is the second-largest share during the forecast period 2021-2028 according to Precision Business Insights.
The Condensing Unit Market Key Development:
- In September 2019, BITZER SE expanded the production capacity of its Rottenburg-Hailfingen plant in Germany. The plant began the production of CRF, CXP, CXP, and McDEW condensers.
Condensing Unit Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
7.9%
Largest Market
North-America
Fastest Growing Market
Asia-Pacific
Condensing Unit Market Dynamics
Factors such as increased demand for condensing units in commercial and industrial sectors in emerging nations, as well as the advantages with these units provide such as increased durability and shelf life, have been driving the growth of the Global Condensing Unit Market.
North-America Got Significant Share
Condensing Unit Market Regional Analysis
By region, the North America market is expected to witness highest market share during the forecast period.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The condensing unit market report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
- The condensing unit market report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
- The condensing unit market report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The condensing unit market report tracks recent innovations, key developments, and start-up details that are actively working in the market
- The condensing unit market report provides a plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
Condensing Unit Market Segmentation
By Product Type
By Function
- Air Conditioning,
- Refrigeration,
- Heat Pumps
By Application
- Residential,
- Industrial,
- Commercial,
- Transportation
Frequently Asked Questions
The condensing unit market is projected to expand at a CAGR of 7.9% during the forecast period.
The major players in the condensing unit market are Emerson Electric Co., Carrier Global Corporation, Danfoss, GEA Group Aktiengesellschaft, Heatcraft Refrigeration Products LLC, Voltas Limited, Bitzer SE, Advansor A/S, Baltimore Aircoil Company, Dorin S.p.A.
The Asia Pacific is the fastest-growing region for the condensing unit market
| 1. Executive Summary |
| 2. Global Condensing Unit Market Introduction |
| 2.1. Global Condensing Unit Market - Taxonomy |
| 2.2. Global Condensing Unit Market - Definitions |
| 2.2.1. Product Type |
| 2.2.2. Function |
| 2.2.3. Application |
| 3. Global Condensing Unit Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Global Condensing Unit Market Dynamic Factors - Impact Analysis |
| 3.6. Global Condensing Unit Market - Competition Landscape |
| 4. Global Condensing Unit Market Analysis, 2018-2022 and Forecast, 2023-2029 |
| 4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5. Global Condensing Unit Market, By Product Type, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.1. Air-cooled |
| 5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Water-Cooled |
| 5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Evaporative |
| 5.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 5.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 6. Global Condensing Unit Market Forecast, By Function, 2018-2022 and Forecast, 2021 - 2027 (Revenue, USD Mn) |
| 6.1. Air Conditioning |
| 6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Refrigeration |
| 6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Heat Pumps |
| 6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 6.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7. Global Condensing Unit Market, By Application, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.1. Residential |
| 7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Industrial |
| 7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Commercial |
| 7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Transportation |
| 7.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 7.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 8. Global Condensing Unit Market Forecast, By Region, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.1. North America |
| 8.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.1.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Europe |
| 8.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.2.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Asia-Pacific |
| 8.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.3.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 8.4. Latin America |
| 8.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.4.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.4.3. Market Opportunity Analysis |
| 8.5. Middle East and Africa |
| 8.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 8.5.2. Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.5.3. Market Opportunity Analysis |
| 8.6. Global Condensing Unit Market - Opportunity Analysis Index, By Product Type, Function, Application and Region, 2023-2029 |
| 9. North America Condensing Unit Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 9.1. By Product Type Analysis 2018-2022 and Forecast 2023-2029by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1. Air-cooled |
| 9.1.2. Water-Cooled |
| 9.1.3. Evaporative |
| 9.2. Function Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.2.1. Air Conditioning |
| 9.2.2. Refrigeration |
| 9.2.3. Heat Pumps |
| 9.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 9.3.1. Residential |
| 9.3.2. Industrial |
| 9.3.3. Commercial |
| 9.3.4. Transportation |
| 9.4. Country Analysis 2018-2022 and Forecast 2023-2029by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 9.4.1. USA |
| 9.4.2. Canada |
| 9.5. North America Condensing Unit Market - Opportunity Analysis Index, By Product Type, Function, Application, and Country, 2023-2029 |
| 9.6. North America Condensing Unit Market Dynamics - Trends |
| 10. Europe Condensing Unit Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 10.1. By Product Type Analysis 2018-2022 and Forecast 2023-2029by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1. Air-cooled |
| 10.1.2. Water-Cooled |
| 10.1.3. Evaporative |
| 10.2. Function Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.2.1. Air Conditioning |
| 10.2.2. Refrigeration |
| 10.2.3. Heat Pumps |
| 10.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 10.3.1. Residential |
| 10.3.2. Industrial |
| 10.3.3. Commercial |
| 10.3.4. Transportation |
| 10.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 10.4.1. Germany |
| 10.4.2. UK |
| 10.4.3. France |
| 10.4.4. Spain |
| 10.4.5. Italy |
| 10.4.6. Russia |
| 10.4.7. Poland |
| 10.4.8. Rest of Europe |
| 10.5. Europe Condensing Unit Market - Opportunity Analysis Index, By Product Type, Function, Application, and Country, 2023-2029 |
| 10.6. Europe Condensing Unit Market Dynamics - Trends |
| 11. Asia-Pacific Condensing Unit Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 11.1. By Product Type Analysis 2018-2022 and Forecast 2023-2029by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1. Air-cooled |
| 11.1.2. Water-Cooled |
| 11.1.3. Evaporative |
| 11.2. Function Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.2.1. Air Conditioning |
| 11.2.2. Refrigeration |
| 11.2.3. Heat Pumps |
| 11.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 11.3.1. Residential |
| 11.3.2. Industrial |
| 11.3.3. Commercial |
| 11.3.4. Transportation |
| 11.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 11.4.1. Japan |
| 11.4.2. China |
| 11.4.3. India |
| 11.4.4. ASEAN |
| 11.4.5. Australia & New Zealand |
| 11.4.6. Rest of Asia-Pacific |
| 11.5. Asia-Pacific Condensing Unit Market - Opportunity Analysis Index, By Product Type, Function, Application, and Country, 2023-2029 |
| 11.6. Asia-Pacific Condensing Unit Market Dynamics - Trends |
| 12. Latin America Condensing Unit Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 12.1. By Product Type Analysis 2018-2022 and Forecast 2023-2029by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1. Air-cooled |
| 12.1.2. Water-Cooled |
| 12.1.3. Evaporative |
| 12.2. Function Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.2.1. Air Conditioning |
| 12.2.2. Refrigeration |
| 12.2.3. Heat Pumps |
| 12.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 12.3.1. Residential |
| 12.3.2. Industrial |
| 12.3.3. Commercial |
| 12.3.4. Transportation |
| 12.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 12.4.1. Brazil |
| 12.4.2. Mexico |
| 12.4.3. Argentina |
| 12.4.4. Rest of Latin America |
| 12.5. Latin America Condensing Unit Market - Opportunity Analysis Index, By Product Type, Function, Application, and Country, 2023-2029 |
| 12.6. Latin America Condensing Unit Market Dynamics - Trends |
| 13. Middle East and Africa Condensing Unit Market Analysis, 2018-2022 and Forecast, 2023-2029 (Revenue, USD Mn) |
| 13.1. By Product Type Analysis 2018-2022 and Forecast 2023-2029by Revenue (USD Mn),Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1. Air-cooled |
| 13.1.2. Water-Cooled |
| 13.1.3. Evaporative |
| 13.2. Function Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.2.1. Air Conditioning |
| 13.2.2. Refrigeration |
| 13.2.3. Heat Pumps |
| 13.3. Application Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn), Y-o-Y Growth (%) and Market Share (%) |
| 13.3.1. Residential |
| 13.3.2. Industrial |
| 13.3.3. Commercial |
| 13.3.4. Transportation |
| 13.4. Country Analysis 2018-2022 and Forecast 2023-2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%) |
| 13.4.1. Gulf Cooperation Council (GCC) Countries |
| 13.4.2. Israel |
| 13.4.3. South Africa |
| 13.4.4. Rest of MEA |
| 13.5. MEA Condensing Unit Market - Opportunity Analysis Index, By Product Type, Function, Application, and Country, 2023-2029 |
| 13.6. MEA Condensing Unit Market Dynamics - Trends |
| 14. Competition Landscape |
| 14.1. Strategic Dashboard of Top Market Players |
| 14.2. Company Profiles (Introduction, Financial Analysis, Function& Service Offerings, Key Developments, Strategies, and SWOT Analysis) |
| 14.2.1. Emerson Electric Co. |
| 14.2.2. Carrier Global Corporation |
| 14.2.3. Danfoss |
| 14.2.4. GEA Group Aktiengesellschaft |
| 14.2.5. Heatcraft Refrigeration Products LLC |
| 14.2.6. Voltas Limited |
| 14.2.7. Bitzer SE |
| 14.2.8. Advansor A/S |
| 14.2.9. Baltimore Aircoil Company |
| 14.2.10. Dorin S.p.A. |
| 15. Research Methodology |
| 16. Key Assumptions and Acronyms |
- Emerson Electric Co.
- Carrier Global Corporation
- Danfoss
- GEA Group Aktiengesellschaft
- Heatcraft Refrigeration Products LLC
- Voltas Limited
- Bitzer SE
- Advansor A/S
- Baltimore Aircoil Company
- Dorin S.p.A.