Global Condensing Units Market 2018 Effect and Growth Factors Research and Projection upto 2024

Condensing unit is another name for the outdoor HVAC unit. These units can either be an air conditioning unit or a heat pump. These are temperature-control devices in air conditioners, refrigerators, heat pumps, and chillers. They move energy in the form of heat by compressing a gas and then pump it through a system of coils, further, using the coil to heat and cool spaces.

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The major challenge identified in the condensing unit market is the strict regulations regarding the usage of refrigerants in condensing units. In the recent years, the U.S. Department of Energy (DOE) issued various regulations affecting HVACR equipment manufacturers and they have to adapt these regulatory changes that affect both efficiency requirements and refrigerants. For instance, the F- gas (HFCs, PFCs and SF6) regulation has been revised in 2015 by European Union (EU) Commission for restricting rising emissions that might restrain the condensing unit market.

The condensing unit market is highly fragmented and competitive. The companies are struggling because of the lack of service differentiation, customer loyalty, and market growth. The customers in the market are demanding more transparency and efficient delivery.

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

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