Condensing Unit Market: Product Type (Air-cooled, Water-Cooled, Evaporative), Function (Air Conditioning, Refrigeration, Heat Pumps), Application (Residential, Industrial, Commercial, Transportation) and Geography

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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.

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
  • Air-cooled,
  • Water-Cooled,
  • Evaporative
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.