The Industrial Condensing Units Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Industrial Condensing Units market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Industrial Condensing Units. It furnishes intricate revenue and shipment segmentations, accompanied by a 6 years-long projection up to 2028. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
According to data provided by the United States Department of Agriculture (USDA), a substantial portion of the food supply in the United States, approximately 30-40%, is lost or wasted. To combat this issue and minimize such losses, the United States industrial condensing unit sector has witnessed significant growth. These units find applications across a spectrum of industries including food manufacturing, retail, transportation, as well as in restaurants and hotels. This burgeoning demand has given a notable boost to the industrial condensing units market, leading experts to predict a Compound Annual Growth Rate (CAGR) of 4.5% for the North American market between 2022 and 2028.
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In 2022, the global industrial condensing units market was estimated to be valued at approximately US$ 11.75 Billion. This impressive figure is indicative of the sector’s substantial size and importance. Furthermore, the market is expected to experience robust expansion, with an anticipated CAGR of 5.2% between 2022 and 2028. By the end of this period, the market is projected to reach a valuation of US$ 15.95 Billion, highlighting the significant growth potential and opportunities in this industry.
The critical driving force behind the expansion of the industrial condensing units market is the urgent need to address food waste issues. With food supply losses and wastage at such high levels, efficient refrigeration and cooling systems are in high demand. These industrial condensing units play a pivotal role in preserving perishable goods and ensuring they reach consumers in optimal condition.
These units are being widely adopted across various sectors. In the food manufacturing industry, they are essential for maintaining the quality and safety of products. Retail stores rely on them to store and display food items, while transportation containers utilize them to safeguard goods during transit. Restaurants and hotels also depend on these units to preserve ingredients and maintain food quality, thereby reducing waste and enhancing overall operational efficiency.
As the global focus on sustainability and responsible resource management continues to grow, the industrial condensing units market is poised for further expansion. The reduction of food wastage not only has economic implications but also aligns with environmental and social responsibility goals. Consequently, businesses across industries are recognizing the value of investing in advanced refrigeration technologies, contributing to the steady market growth predicted in the coming years.
Report Further Focuses on Asian Countries
China dominates the East Asia condensing units market in terms of value, driven by government incentives promoting natural refrigerants, especially in heat pumps, room air conditioners, and industrial/commercial applications. With widespread adoption of industrial conditioning units in China, the East Asia market is expected to achieve a robust 5.6% CAGR during the forecast period.
India is becoming a highly profitable market for industrial condensing units in South Asia. Factors like the demand for energy-efficient units in industrial and commercial sectors, the presence of prominent domestic and international manufacturers, and shifting climate patterns are propelling India’s industrial condensing units market. According to FMI, the South Asia market, led by India, is projected to grow strongly with a 7.5% CAGR from 2022 to 2028.
Global Report Coverage
| Attribute | Details |
| Forecast Period | 2022-2028 |
| Historical Data Available for | 2013-2021 |
| Market Analysis | Units for Volume and US$ Mn for Value |
| Key Regions Covered | North America, Latin America, Europe, South Asia, East Asia, India, and the Middle East & Africa |
| Key Countries Covered | The U.S., Canada, Mexico, Brazil, Germany, the U.K., France, Italy, Spain, Russia, Poland, China, Japan, South Korea, India, ASEAN, Turkey and South Africa |
| Key Segments Covered | Capacity, Installation, Technology, Application, End Use, Compressor Type, and Region |
| Key Companies Profiled |
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| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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