Transportation Condensing Unit Market Size, Share & Industry Analysis By Application (Commercial, Industrial, Transportation), By Product Type (Air-cooled Condensing Unit, Water-cooled Condensing Unit, Evaporative Condensing Unit), By Function (Air-Conditioning, Refrigeration, Heat Pump) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
Transportation condensing units come with a wide range of products and services to help manage and monitor the cold chain for the most temperature-sensitive, perishable goods, such as biologics, food, pharmaceuticals, and industrial chemicals.
The growing need to improve energy efficiency, lower operating costs, and take advantage of government incentives is driving up demand for industrial refrigeration equipment replacement in developed and developing countries worldwide.
The temperature control devices used to condensate a substance from its gaseous to liquid condition by chilling it is known as condensing units.
Market dynamics, rivalry, and worldwide supply chains have all been affected by Covid-19. Revenues decreased in 2020 and are expected to increase beginning in 2021 steadily. Companies that optimize their operations and strategy will be able to compete and win.
Key Market Driver -
• Growing Retail Sector in Emerging Economies • High Durability and Long Life of Advanced Condensing Units
Key Market Restraint -
• Stringent Environmental Regulations on Refrigerants Used in Condensing Units
Market Segmentation:
By Application, the market is segmented into commercial, industrial, and transportation. The industrial segment is likely to maintain its dominance during the forecast period due to rising demand from various application areas such as retail stores, power plants, hospitals, dairy cabinets, cooling systems, and cryogenic containers.
By Product type, the market is segmented into the air-cooled condensing unit, water-cooled condensing unit, and the evaporative condensing unit. Because of its ease of installation and low
Maintenance, the air-cooled condensing unit category, is expected to maintain its leadership position over the forecast period.
By Function, the global transportation condensing unit market is segmented into air conditioning, refrigeration, and heat pumps. During the projection period, the air conditioning segment is expected to have the most significant market share. During the forecast period, the air conditioning market is likely to be driven by increased individual auditoriums, industrial facilities, clinics, hotels, chemical plants, and theaters worldwide.
Key players:
GEA Group Aktiengesellschaft, Heatcraft Refrigeration Products LLC, Voltas Limited, BITZER SE, Emerson Electric Co., Carrier Global Corporation, Danfoss, ADVANSOR A/S, Baltimore Aircoil Company, Officine Mario Dorin S.p.A. and SCM Frigo S.p. A.
Regional Analysis:
By Region is segmented across Europe, North America, Asia-Pacific, and the Rest of the World.
North America dominates the transportation condensing unit market. Because of the growing demand for condensing units in various manufacturing industries and an increase in demand for condensing units in the commercial and industrial sectors.
Europe is likely to lead the transportation condensing unit’s market in terms of growth. Due to increased demand for natural refrigerants and altering customer preferences in this area for ready-to-eat, baked, and frozen food goods.
The Asia Pacific is predicted to emerge as one of the major regions. China is anticipated to have the ’lion’s share of the regional condensing unit market in terms of value. China’s government is promoting the use of natural refrigerants in a variety of applications. Heat pumps and room air conditioners use these refrigerants in particular.
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Segmentation
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- Ongoing
- 2023
- 2019-2022
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