The condensing unit market is estimated at USD 21.94 billion in 2017 and is projected to reach USD 32.47 billion by 2022, at a CAGR of 8.2% from 2017 to 2022. Various end-use industries, such as retail stores, food production, and food services, etc., are expected to register healthy growth in the coming years in the Asia Pacific countries, which is expected to lead to the growth of the global condensing unit market.
Emerson Electric Company (US), Carrier Corporation (US), Danfoss (Denmark), GEA Group (Germany), Heatcraft Worldwide Refrigeration (US), and BITZER (Germany) are recognized as the visionary leaders in the condensing unit market. These companies are focused on investing in plant capacity expansions. They also have the potential to broaden their product portfolios and compete with other key market players.
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Emerson Electric Company is one of the leading providers of engineering services, globally. The company provides solutions for commercial, industrial, and residential markets. Emerson markets its condensing unit products around the world under the brand Copeland. The company operates in two main business segments, namely, automation solutions and commercial & residential solutions.
In November 2017, Emerson announced the launch of the R-290 (propane) model of its Copeland M-Line condensing unit. This unit uses the company’s efficient compression technology and enables customers to meet the EPA norms. In August 2017, Emerson announced the launch of its fractional horsepower low-temperature Copeland Scroll compressors. This product is an add-on to the existing product portfolio of condensing units and honors its commitment for energy-efficient condensing unit systems. In April 2013, Emerson opened a new service and training center in Thailand, Southeast Asia.
Carrier Corporation is among the leading companies in the air-conditioning, heating, and refrigeration industry. It is a part of United Technologies Corp, operating in its UTC Climate, Controls & Security segment. The company mostly manufactures air-cooled condensing units with different types of compressors.
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In September 2017, Carrier announced its joint venture agreement with Midea America, a subsidiary of Midea Group Co., Ltd. to form Carrier Midea North America. America. The joint venture is expected to meet the growing demand in North America for residential ductless HVAC systems by bringing together Midea’s ductless development expertise and Carrier’s extensive distribution network.
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