Evaporative Condensing Unit Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024

Category : Process Control and Automation | Delivery Format : PDF | Status: Forthcoming | Report ID : ARC483

Introduction

Evaporative condensing unit is used for heat refutation in industrial plants to deliver compressor horsepower and lower the condensing temperatures. Evaporative condensing unit helps to save up to 15 percent as compared to traditional units. Advanced evaporative condensing unit offers properties such as air-conditioning systems, adaptability, improved performance of refrigeration and extended durability and shelf life.

Market Dynamics

The growth of evaporative condensing units market is attributed to the growth in its end-use industries such as food service, warehouses, and food processing in the emerging countries such as India, Thailand, China, Brazil, UAE, Saudi Arabia, and Malaysia. The growth is also attributed to the surge in per capita income and change in lifestyle of people in emerging economies. However, the increased awareness towards the ill-effects of global warming owing to the use of chlorofluorocarbon (CFC) is currently restricting the market growth.

Market Classification and Overview

The evaporative condensing units market can be segmented based on type, end-use industry, application, and region. Air-cooled condensing unit, evaporative condensing unit and water-cooled condensing unit are the various types of evaporative condensing units. The air-cooled condensing unit dominated the market owing to its extensive applications, and low cost installation & maintenance. Based on applications, the global evaporative condensing units market can be segmented into warehouses, cold storage, restaurants, food processing units and refrigeration. Refrigeration segment held the largest share in evaporative condensing units market, both in the terms of value and volume, owing to its properties such as adaptability, and improved performance of refrigeration & air-conditioning systems and extended durability and shelf life. Refrigeration is used in various industries, such as ice manufacturing, power plant, food processing units, and chemical plant. The segment accounted for more than fifty percentage share of the market in 2015. The demand is due to the growth in food & beverage industry in the emerging economies. Based on end-use industry, commercial segment dominated the evaporative condensing unit market.

Regional Overview

Based on region, the evaporative condensing units market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA), and Asia-Pacific. North America was the biggest market for evaporative condensing units, in terms of value and volume, in 2015 because of the presence of several commercial industries, power, and chemical plants in the region. Industrial refrigeration is the major driving factor for the growth of evaporative condensing units market. Moreover, the surge in manufacturing and construction industries is likely to have positive influence on evaporative condensing unit market during the forecast period. In Asia-Pacific region, the refrigeration application dominated the market for evaporative condensing unit. This trend is majorly observed because of the establishment of new chemical and power plants in China, South Korea, and India. The Middle East & Africa region is projected to be the fastest growing market for evaporative condensing units during the forecast period. The growth is mainly due to the development of manufacturing facilities in the region which leads to the increased usage of evaporative condensing units.

Report Coverage

Market

Evaporative Condensing Units Market

Analysis Period

2014 – 2024

Historic Data

2014 – 2015

Base Year

2016

Forecast Data

2017 – 2024

Market Stratification

Type, End-Use Industry, Application, Geography

Regional Scope

North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)

Report Coverage

Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis, 

Player Profiling, Value Chain Analysis

 

Market Participants

Some of the dominant market players operating in the market and profiled in the evaporative condensing units market report are focusing on key market strategies such as acquisitons and mergers with local as well as established players. The players profiled in the manufacture and supply of evaporative condensing units include Baltimore Aircoil Company Inc., DECSA s.r.l, Johnson Controls Inc., Emerson Electric Company, Danfoss, BITZER Kühlmaschinenbau GmbH, Commercial Refrigeration, Carrier and Heatcraft Worldwide Refrigeration among others

Market Segmentation

Market By Type

·         Air-cooled condensing unit

·         Evaporative condensing unit

·         Water-cooled condensing unit

Market By End-Use Industry

·         Power

·         Chemical

·         Commercial

Market By Application

·         Warehouses

·         Cold storage

·         Restaurants

·         Food processing units

·         Refrigeration

Market By Geography

·         North America

o   US

o   Canada

o   Mexico

·         Europe

o   UK

o   Germany

o   France

o   Rest of Europe

·         Asia-Pacific

o   China

o   Japan

o   India

o   Australia

o   Rest of Asia-Pacific

·         Latin America

o   Brazil

o   Rest of Latin America

·         Middle East and Africa (MEA)

o   South Africa

o   Saudi Arabia

o   Rest of MEA


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