Condensing Unit Market Size, Analysis, Leading Players and Forecast by 2024

Posted by Yash Chauhan on March 25th, 2019

Condensing unit is another name for the outdoor HVAC unit. These units can either be an air conditioning unit or a heat pump. The typical component of this unit includes the compressor, fan, and condensing coil. The condensing unit market is projected to register a significant growth during the forecast period, owing to their extensive use in cold rooms, milk cooling tanks, fermentation rooms, supermarkets, hospitals, and others.

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On the basis of application, the condensing unit market is categorized into commercial, industrial, and transportation.

The growth of end-user industries in developing countries and improve the shelf life of these units are the major factors driving the market growth. The condensing unit market growth is mainly driven by the increasing demand from commercial and industrial sectors which include food manufacturing industries, food retails, commercial refrigeration, and others.

Asia-Pacific is expected to register the fastest growth in the condensing unit market during the forecast period. The factors contributing to the region’s growth are the growth in chemical and power industries. In Asia-Pacific, China is the largest consumer of these units, owing to the increasing population, which is resulting in increasing demand for these units in order to meet the demand.

Emerson Electric Company, Danfoss, GEA Group, Carrier Corporation, Heatcraft Worldwide Refrigeration, Baltimore Aircoil Company, Officine Mario Dorin, Bitzer, Blue Star, Voltas, Advansor, and Daikin Applied are among the major players operating in the condensing unit market.

Source: VynZ Research