Condensing Unit Market Analysis

Type (Air Cooled, Water Cooled, Evaporating Condensing Unit)

Air-cooled segment is projected to account for condensing unit market share of around 56% by 2037. This segment growth can be impelled by the rising demand for air-cooled condensing units in air conditions and refrigeration.

According to the International Energy Association (IEA, 2018), almost 20% of the power used in buildings worldwide is used by people using electric fans and air conditioners to remain cool. In many nations, the growing need for space cooling is simultaneously severely taxing the electrical grid and increasing emissions.

AC usage is expected to skyrocket over the next thirty years, ranking among the main factors driving the world's need for electricity. According to recent research, new guidelines can assist the globe to avoid experiencing a similar "cold crunch" by promoting efficiency while maintaining temperature.

Function (Air Conditioning, Refrigeration, Heat Pumps)

In condensing unit market, air conditioning segment is estimated to account for revenue share of more than 60% by the end of 2037.

The air conditioning segment is set to garner a notable revenue share of around 60% in the coming years. This expansion will be noticed due to the increasing consumption of air conditioning by the people.

In line with IEA (2018), in comparison to the Reference Scenario, the Efficient Cooling Scenario demonstrates how smart policies may cut cooling energy consumption by 45% and double the average AC efficiency.

End-User (Industrial, Commercial, Transportation)

By 2037, industrial segment is likely to dominate condensing unit market share of over 60%. There has been a rising demand for condensing units in the industrial sectors for example food and beverages, pharmaceuticals, and many more sectors.

Our in-depth analysis of the global market includes the following segments: