According to a research report by Stratview Research, the Condensing unit market is likely to witness an impressive CAGR of 8.2% during the forecast period. The prime factor bolstering the growth of the market for condensing unit is its growing demand majorly from the food production and services.
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This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.
Based on the application type, the Condensing Unit Market is segmented as commercial, industrial, and transportation. The industrial segment is projected to maintain its dominance over the forecast period owing to the rising demand from various application areas, such as retail stores, power plants, hospitals, dairy cabinets, cooling systems, and cryogenic containers.
Based on the product type, the market is segmented as air-cooled condensing unit, water-cooled condensing unit, and evaporative condensing unit. The air-cooled condensing unit segment is projected to maintain its leading position over the forecast period as it offers easy installation and low maintenance.
In terms of regions, Asia-Pacific is projected to be the largest market. The Asia-Pacific’s market is expected to grow with a lucrative CAGR due to the growing population, expanding food product and services coupled with growing investments in chemicals & petrochemicals. China and India are the growth engines of the region.
Leading Players Covered in the Condensing Unit Market Report:
- Emerson Electric Co.
- Carrier Global Corporation
- GEA Group Aktiengesellschaft
- Heatcraft Refrigeration Products LLC
- Voltas Limited
- Bitzer SE
- Advansor A/S
- Baltimore Aircoil Company
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