Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
The global condensing unit market is estimated to grow at a CAGR of more than 8% during the study period. The growth of end-use sectors in these economies, such as supermarkets and retail chains, can be attributed to the rise in per capita disposable income of consumers and their changing lifestyles. Moreover, the steadily growing economies such as China, India, Thailand, and Malaysia are expected to register healthy industrial growth during the forecast period which in turn, is leading to the growth of the global condensing unit market.
Market Segmentation
The global condensing unit market has been analyzed on the basis of capacity, type, function, compressor technology, refrigerant type, end-user, and region. By capacity, the market is segmented into up to 20 HP, 20-40 HP, 40-60 HP, 60-80 HP, and more than 80 HP. Based on type, the market is segmented into air-cooled condensing units, water-cooled condensing units, and evaporative condensing units. Among these, the air-cooled segment is projected to contribute significantly to the market during the forecast period. On the basis of function, the market covers the analysis of air conditioning, refrigeration, and heat pumps. Among these, the air conditioning segment is estimated to dominate the market.
By compressor technology, the market is segmented into crew AC compressor, centrifugal AC, compressor, reciprocating AC compressor, hermetic AC compressor, rotary vane AC compressor, and others. By refrigerant type, the market is segmented into fluorocarbons, hydrocarbons, and inorganics. Further, the end-user segment covers the analysis of residential, commercial, industrial and transportation. The commercial segment is projected to exhibit at a considerable rate during the forecast period. Geographically, the market is analyzed into North America, Western Europe, Eastern Europe, Asia Pacific, Latin America, and Middle East & Africa.
Market Structure and Competition Landscape
The global condensing unit market is characterized by the presence of significant number of players. Some of the prominent players operating in the market include Emerson Electric Co., Danfoss, Daikin Industries Ltd., Tecumseh Products Company, Hussmann Corporation, Voltas Limited, Patton Ltd, Rivacold UK Ltd, FreezeIndia, Howe Corporation, MTA S.p.A., CCC Holdings Inc., KeepRite Refrigeration, and others. These players adopt various strategies to increase the market share and gain a competitive edge over other competitors. Mergers and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global condensing units market include,
• In December 2021, CCC Holdings acquired Kobol business, the aim behind the acquisition was to expand their business
• In November 2021, CCC Holdings announced the acquisition of Arctic I.R.E SA by Roen Est S.p.A. CCC holdings also announced that their plan is to acquire 6-8 businesses over (2020-2030).
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