Industrial Condensing Units Market is Anticipated to Expand at A 5.2% CAGR between 2022 and 2028, Reaching A Valuation of US$ 15.95 Bn By 2028
Future Market Insights Global and Consulting Pvt. Ltd.
Future Market Insights Global and Consulting Pvt. Ltd.

Growing need for advanced refrigeration across various application areas such as hospitals, power plants, transportation containers and cooling systems is anticipated to create lucrative prospects within the industrial condensing units market

NEWARK, Del, June 27, 2022 (GLOBE NEWSWIRE) -- As indicated by a recent research study presented by Future Market Insights (FMI), more than 65% of end users prefer air-cooled industrial condensing units over water-cooled variants, at a global level. Moreover, although retrofitting of older condensing units is gaining popularity over the recent past, FMI’s analysis highlights that an approximate 85% of revenue continues to pour in from new installations of industrial condensing units.

With a significant incremental opportunity anticipated for the near future, outdoor-based refrigeration applications will continue to gain higher traction in the industrial condensing units market. According to the report, nearly 3/5th of the total demand for industrial condensing units is generated from outdoor-based refrigeration application areas.

At an estimated 4.6% Y-o-Y increase in the revenue over 2021, the industrial condensing units market is set to exceed the US$ 10 Bn mark in 2022. Nearly 3/4th of the total sales of industrial condensing units is accounted by the end use in commercial refrigeration, followed by industrial refrigeration.

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China & India Emerging as Strong Investment Pockets for Manufacturers

The construction industry in developing regional markets, particularly in India and China, are clearly outgrowing other markets. This, in turn, is expected to support the growth of the industrial condensing units market, as the construction-driven increase in the net national per capita income will boost the demand for consumer appliances, including industrial condensing units.

Also, growing GDP of several countries, escalating per capita income and spending, and heavily rising demand for efficient cold chain are expected to extend strong support to existing demand growth of industrial condensing units.
Furthermore, China and India are likely to witness a significant surge in the sales of refrigeration units in coming years, driven by commercial refrigeration applications as a result of brisk expansion of both construction industry and the HoReCa (hotels, restaurants, cafés) sector. These countries are thus highly likely to establish a strong base for the expansion of industrial condensing units market in the forthcoming years.