HOME Top Market Reports Condensing Unit Market by Type (Air-cooled Condensing Unit, Water-cooled Condensing Unit, and Evaporative Condensing Unit), Application (Industrial Refrigeration, Commercial refrigeration, and others), and by Region - Global Forecast to 2021

Condensing Unit Market by Type (Air-cooled Condensing Unit, Water-cooled Condensing Unit, and Evaporative Condensing Unit), Application (Industrial Refrigeration, Commercial refrigeration, and others), and by Region - Global Forecast to 2021

By: marketsandmarkets.com
Publishing Date: July 2016
Report Code: CH 4459

 

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The global condensing unit market is projected to grow from USD 12.48 Billion in 2015 to USD 23.31 Billion by 2021, at a CAGR of 11.1% between 2016 and 2021.

The years considered for the study are:

  • Historical Year – 2014
  • Base Year – 2015
  • Estimated Year – 2016
  • Projected Year – 2021
  • Forecast Period – 2016 to 2021

For company profiles in the report, 2015 has been considered as the base year. In certain cases, wherein information is unavailable for the base year, the years prior to it have been considered.

The Objectives of this Study are:

  • To define, describe, and forecast the condensing unit market based on type, application, and region
  • To analyze and forecast the volume (thousand units) and value (USD billion) of the global condensing unit market
  • To provide detailed information regarding the key factors influencing the growth of the market, such as drivers, restraints, and opportunities
  • To strategically analyze micromarkets with respect to individual growth trends, future prospects, and contribution made to the overall market
  • To analyze the opportunities in the market for stakeholders and draw a competitive landscape for market leaders
  • To forecast the market size in terms of value with respect to five main regions (along with countries), namely, Asia-Pacific, Europe, North America, Middle East & Africa, and Latin America
  • To strategically profile key players and comprehensively analyze their core competencies
  • To analyze competitive developments, such as joint ventures, mergers & acquisitions, new product developments, and research & development activities (R&D) in the global condensing unit market

Research Methodology

The research methodology used to estimate and forecast the global condensing unit market begins with capturing data on key vendor revenues through secondary research. The vendor offerings are also taken into consideration to determine the market segmentation. After arriving at the overall market size, the total market was split into several segments and subsegments, which were later verified through primary research by conducting extensive interviews with key personnel, such as CEOs, VPs, directors, and executives. Data triangulation and market breakdown procedures were employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments of the market. The breakdown of profiles of primaries is depicted in the figure below.

Condensing Unit Market

To know about the assumptions considered for the study, download the pdf brochure

The global condensing unit market has a diversified ecosystem of key players, including component suppliers, along with stakeholders, vendors, end users, and government organizations. Companies operating in the global condensing unit market include Emerson Electric Company, Carrier Commercial Refrigeration, Danfoss, GEA Group, Heatcraft Worldwide Refrigeration, and BITZER Kόhlmaschinenbau GmbH, among others.

The report provides detailed qualitative and quantitative analysis of the global condensing unit market, along with market drivers, restraints, and opportunities. The top players of this market are profiled in detail, along with recent developments and other strategic industry-related activities.

Target Audience

  • Condensing Unit Manufacturers
  • Condensing Unit Traders, Suppliers, and Distributors
  • Government and Research Organizations
  • Association and Industrial Bodies
  • Raw Material Suppliers and Distributors
  • Shipping Companies
  • Industry Associations
  • “This study answers several questions for the stakeholders, primarily which market segments to focus in the next two to five years for prioritizing the efforts and investments”.

Scope of the Report: This research report categorizes the global condensing unit market on the basis of type, application, and region, forecasting revenues as well as analyzing trends in each of the submarkets.

On the basis of Type:

  • Air-Cooled Condensing Unit
  • Water-Cooled Condensing Unit
  • Evaporative Condensing unit

On the basis of Application:

  • Commercial Refrigeration
  • Industrial Refrigeration
  • Others

On the basis of Region:

  • Asia-Pacific
  • Europe
  • North America
  • Middle East & Africa
  • Latin America

The following customization options are available for the report:

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product Matrix, which gives a detailed comparison of product portfolio of each company

Geographic Analysis

  • Further breakdown of Rest of APAC and Rest of Europe condensing unit market

Company Information

  • Detailed analysis and profiling of additional market players (up to five companies)

Table of Contents

1 Introduction (Page No. - 15)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
    1.4 Currency
    1.5 Package Size
    1.6 Limitations
    1.7 Stakeholders

2 Research Methodology (Page No. - 19)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Key Industry Insights
                    2.1.2.3 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation Methodology
    2.4 Research Assumptions
           2.4.1 Assumptions

3 Executive Summary (Page No. - 27)
    3.1 Historical Backdrop, Evolution, and Current Scenario
    3.2 Future Outlook
    3.3 Conclusion

4 Premium Insights (Page No. - 32)
    4.1 Significant Opportunities for Condensing Unit Market
    4.2 Condensing Unit Market Growth, By Region
    4.3 Condensing Unit Market Share in Asia-Pacific
    4.4 Condensing Unit Market Attractiveness
    4.5 Condensing Unit Market Size, By Application, 2015
    4.6 Condensing Unit Market Size: Developed vs Developing Nations

5 Market Overview (Page No. - 37)
    5.1 Introduction
    5.2 Market Segmentation
           5.2.1 By Region
    5.3 Market Dynamics
           5.3.1 Drivers
                    5.3.1.1 Growth of End-User Industries in Emerging Nations
                    5.3.1.2 Benefits Offered Such as Improved Durability and Shelf Life
           5.3.2 Restraints
                    5.3.2.1 Stringent Environmental Regulations on Refrigerants/Gases Used in Condensing Units
           5.3.3 Opportunities
                    5.3.3.1 Technological Advancements Leading to Introduction of Efficient Condensing Units
    5.4 Revenue Pocket Matrix
           5.4.1 Revenue Pocket Matrix for Type
           5.4.2 Revenue Pocket Matrix for Application

6 Industry Trends (Page No. - 44)
    6.1 Value Chain Analysis
           6.1.1 Hermetic Condensing Unit
           6.1.2 Scroll Condensing Unit
           6.1.3 Semi-Hermetic Condensing Unit
    6.2 Economic Indicators
           6.2.1 Industry Outlook
                    6.2.1.1 Construction
                    6.2.1.2 Manufacturing
           6.2.2 Country Outlook
                    6.2.2.1 U.S.
                    6.2.2.2 Germany
                    6.2.2.3 Japan
                    6.2.2.4 South Korea
                    6.2.2.5 U.K.
                    6.2.2.6 France
                    6.2.2.7 Italy
                    6.2.2.8 Canada
                    6.2.2.9 Australia
                    6.2.2.10 China
                    6.2.2.11 Russia
                    6.2.2.12 Mexico
                    6.2.2.13 Brazil
                    6.2.2.14 Saudi Arabia
                    6.2.2.15 Thailand
                    6.2.2.16 India
                    6.2.2.17 Chile
                    6.2.2.18 New Zealand
                    6.2.2.19 South Africa

7 Condensing Unit Market, By Type (Page No. - 58)
    7.1 Introduction
           7.1.1 Air-Cooled Condensing Unit
           7.1.2 Water-Cooled Condensing Unit
           7.1.3 Evaporative Condensing Unit

8 Condensing Unit Market, By Application (Page No. - 63)
    8.1 Introduction
    8.2 Commercial Refrigeration
    8.3 Industrial Refrigeration
    8.4 Others

9 Condensing Unit Market, By Region (Page No. - 66)
    9.1 Introduction
    9.2 Asia-Pacific
           9.2.1 China
           9.2.2 Japan
           9.2.3 India
           9.2.4 South Korea
           9.2.5 Thailand
           9.2.6 Malaysia
           9.2.7 Singapore
           9.2.8 Indonesia
           9.2.9 Rest of Asia-Pacific
    9.3 Europe
           9.3.1 Germany
           9.3.2 U.K.
           9.3.3 France
           9.3.4 Italy
           9.3.5 Spain
           9.3.6 Rest of Europe
    9.4 North America
           9.4.1 U.S.
           9.4.2 Canada
           9.4.3 Mexico
    9.5 Middle East & Africa
           9.5.1 Saudi Arabia
           9.5.2 Turkey
           9.5.3 Egypt
           9.5.4 Rest of Middle East & Africa
    9.6 Latin America
           9.6.1 Brazil
           9.6.2 Argentina
           9.6.3 Chile
           9.6.4 Rest of Latin America

10 Competitive Landscape (Page No. - 107)
     10.1 Overview
     10.2 Competitive Benchmarking
     10.3 Market Share Analysis
     10.4 Competitive Situations and Trends
             10.4.1 Agreements
             10.4.2 New Product Launches

11 Company Profiles (Page No. - 112)
     11.1 Regional Revenue Mix of Major Market Players
     11.2 Emerson Electric Company
             11.2.1 Business Overview
             11.2.2 Products Offered
             11.2.3 SWOT Analysis
             11.2.4 MnM View
     11.3 Carrier Commercial Corporation
             11.3.1 Business Overview
             11.3.2 Products Offered
             11.3.3 SWOT Analysis
             11.3.4 MnM View
     11.4 Danfoss GmbH
             11.4.1 Business Overview
             11.4.2 Products Offered
             11.4.3 SWOT Analysis
             11.4.4 MnM View
     11.5 GEA Group
             11.5.1 Business Overview
             11.5.2 Products Offered
             11.5.3 Recent Developments
             11.5.4 SWOT Analysis
             11.5.5 MnM View
     11.6 Heatcraft Worldwide Refrigeration
             11.6.1 Business Overview
             11.6.2 Products Offered
     11.7 Bitzer Kόhlmaschinenbau GmbH
             11.7.1 Business Overview
             11.7.2 Products Offered
             11.7.3 Recent Developments
     11.8 Advansor A/S
             11.8.1 Business Overview
             11.8.2 Products Offered
             11.8.3 Recent Developments
     11.9 Baltimore Aircoil Company, Inc.
             11.9.1 Business Overview
             11.9.2 Products Offered
             11.9.3 Recent Developments
     11.10 Officine Mario Dorin S.P.A.
             11.10.1 Business Overview
             11.10.2 Products Offered
     11.11 SCM Frigo SPA
             11.11.1 Business Overview
             11.11.2 Products Offered
     11.12 Other Market Players
             11.12.1 Tecumseh Products Company
             11.12.2 Frascold S.P.A.
             11.12.3 Evapco, Inc.
             11.12.4 Spig S.P.A.
             11.12.5 Zanotti S.P.A.

12 Appendix (Page No. - 132)
     12.1 Discussion Guide
     12.2 Introducing RT: Real Time Market Intelligence
     12.3 Knowledge Store: Marketsandmarkets Subscription Portal
     12.4 Available Customizations
     12.5 Related Reports


List of Tables (98 Tables)

Table 1 U.S.: Economic Outlook
Table 2 Germany: Economic Outlook
Table 3 Japan: Economic Outlook
Table 4 South Korea: Economic Outlook
Table 5 U.K.: Economic Outlook
Table 6 France: Economic Outlook
Table 7 Italy: Economic Outlook
Table 8 Canada: Economic Outlook
Table 9 Australia: Economic Outlook
Table 10 China: Economic Outlook
Table 11 Russia: Economic Outlook
Table 12 Mexico: Economic Outlook
Table 13 Brazil: Economic Outlook
Table 14 Saudi Arabia: Economic Outlook
Table 15 Thailand: Economic Outlook
Table 16 India: Economic Outlook
Table 17 Chile: Economic Outlook
Table 18 New Zealand: Economic Outlook
Table 19 South Africa: Economic Outlook
Table 20 Condensing Unit Market Size, By Type, 2014–2021 (Thousand Units)
Table 21 Condensing Unit Market Size, By Application, 2014–2021 (Thousand Units)
Table 22 Condensing Unit Market, By Region, 2014–2021 (Thousand Units)
Table 23 Condensing Unit Market, By Region, 2014–2021 (USD Billion)
Table 24 Asia-Pacific: Condensing Unit Market, By Country, 2014–2021 (Thousand Units)
Table 25 Asia-Pacific: Condensing Unit Market, By Country, 2014–2021 (USD Billion)
Table 26 Asia-Pacific: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 27 Asia-Pacific: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 28 China: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 29 China: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 30 Japan: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 31 Japan: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 32 India: Condensing Unit Market Size, By Application, 2014–2021 (Thousand Units)
Table 33 India: Condensing Unit Market Size, By Type, 2014–2021 (Thousand Units)
Table 34 South Korea: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 35 South Korea: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 36 Thailand: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 37 Thailand: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 38 Malaysia: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 39 Malaysia: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 40 Singapore: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 41 Singapore: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 42 Indonesia: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 43 Indonesia: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 44 Rest of Asia-Pacific: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 45 Rest of Asia-Pacific: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 46 Europe: Condensing Unit Market, By Country, 2014–2021 (Thousand Units)
Table 47 Europe: Condensing Unit Market, By Country, 2014–2021 (USD Billion)
Table 48 Europe: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 49 Europe: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 50 Germany: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 51 Germany: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 52 U.K.: Condensing Unit Market, By Application , 2014–2021 (Thousand Units)
Table 53 U.K.: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 54 France: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 55 France: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 56 Italy: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 57 Italy: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 58 Spain: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 59 Spain: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 60 Rest of Europe: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 61 Rest of Europe: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 62 North America: Condensing Unit Market, By Country, 2014–2021 (Thousand Units)
Table 63 North America: Condensing Unit Market, By Country, 2014–2021 (USD Billion)
Table 64 North America: Condensing Unit Market Size, By Type, 2014–2021 (Thousand Units)
Table 65 North America: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 66 U.S.: Condensing Unit Market, By Application, 2014-2021 (Thousand Units)
Table 67 U.S.: Condensing Unit Market, By Type, 2014-2021 (Thousand Unit)
Table 68 Canada: Condensing Unit Market, By Application, 2014-2021 (Thousand Units)
Table 69 Canada: Condensing Unit Market, By Type, 2014-2021 (Thousand Units)
Table 70 Mexico: Condensing Unit Market, By Application, 2014-2021 (Thousand Units)
Table 71 Mexico: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 72 Middle East & Africa: Condensing Unit Market, By Country, 2014–2021 (Thousand Units)
Table 73 Middle East & Africa: Condensing Unit Market, By Country, 2014–2021 (USD Billion)
Table 74 Middle East & Africa: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 75 Middle East & Africa: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 76 Saudi Arabia: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 77 Saudi Arabia: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 78 Turkey: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 79 Turkey: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 80 Egypt: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 81 Egypt: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 82 Rest of Middle East & Africa: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 83 Rest of Middle East & Africa: Condensing Unit Market, By Type, 2014–2021 (Thousand Unit)
Table 84 Latin America: Condensing Unit Market, By Country, 2014–2021 (Thousand Units)
Table 85 Latin America: Condensing Unit Market, By Country, 2014–2021 (USD Billion)
Table 86 Latin America: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 87 Latin America: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 88 Brazil: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 89 Brazil: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 90 Argentina: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 91 Argentina: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 92 Chile: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 93 Chile: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 94 Rest of Latin America: Condensing Unit Market, By Application, 2014–2021 (Thousand Units)
Table 95 Rest of Latin America: Condensing Unit Market, By Type, 2014–2021 (Thousand Units)
Table 96 Brand Influence on the Condensing Unit Market
Table 97 Agreements, 2011–2016
Table 98 New Product Launches, 2011–2016


List of Figures (38 Figures)

Figure 1 Condensing Unit Market: Research Design
Figure 2 Market Size Estimation: Bottom-Up Approach
Figure 3 Market Size Estimation: Top-Down Approach
Figure 4 Condensing Unit Market: Data Triangulation
Figure 5 Asia-Pacific Estimated to Be the Largest Market Between 2016 and 2021
Figure 6 Air-Cooled Condensing Unit Segment to Dominate the Condensing Unit Market Between 2016 and 2021
Figure 7 Industrial Refrigeration Segment to Register the Highest CAGR Between 2016 and 2021
Figure 8 Middle East & Africa to Witness the Highest Growth Rate During the Forecast Period
Figure 9 Condensing Unit Market to Witness Moderate Growth Between 2016 and 2021
Figure 10 Middle East & Africa to Grow at the Highest Rate Between 2016 and 2021
Figure 11 China Accounted for the Largest Share of Condensing Unit Market in Asia-Pacific, 2015
Figure 12 Middle East & Africa to Be the Fastest-Growing Market for Condensing Units Between 2016 and 2021
Figure 13 Commercial Refrigeration Segment Accounted for the Largest Market Share in 2015
Figure 14 China and India to Emerge as Lucrative Markets Between 2016 and 2021
Figure 15 Condensing Unit Market, By Region
Figure 16 Overview of the Forces Governing the Condensing Unit Market
Figure 17 Global Retail Sales, 2014 and 2018 (USD Trillion)
Figure 18 Revenue Pocket Matrix: Type
Figure 19 Revenue Pocket Matrix: Application
Figure 20 Components Account for Major Value Addition
Figure 21 Construction Industry Growth Rate, 2014
Figure 22 Manufacturing Industry Growth Rate, 2014
Figure 23 Air-Cooled Condensing Unit Estimated to Lead the Condensing Unit Market During the Forecast Period
Figure 24 The Air-Cooled Condensing Unit Segment Estimated to Grow at A Significant Pace
Figure 25 The Water-Cooled Condensing Unit Segment in Middle East & Africa Estimated to Grow at the Highest CAGR During the Forecast Period
Figure 26 The Industrial Refrigeration Segment Estimated to Grow at the Highest CAGR During the Forecast Period
Figure 27 Regional Snapshot (2016–2021):, Chile, India, and Egypt are Emerging as Strategic Locations
Figure 28 Condensing Unit Market Between 2016 and 2021
Figure 29 Asia-Pacific Market Snapshot
Figure 30 Europe Market Snapshot
Figure 31 North America Market Snapshot
Figure 32 Middle East & Africa Market Snapshot
Figure 33 Companies Adopted New Product Launches as the Key Growth Strategy Between 2011 and 2016
Figure 34 Condensing Unit Market Share, By Company, 2015
Figure 35 Emerson Electric Company: Company Snapshot
Figure 36 Carrier Commercial Corporation: Company Snapshot
Figure 37 Danfoss GmbH: Company Snapshot
Figure 38 GEA Group: Company Snapshot

The global condensing unit market is projected to reach USD 23.31 Billion by 2021, at a CAGR of 11.1% between 2016 and 2021. This growth is mainly attributed to the increasing demand of condensing unit from the end-user industries and improved quality of condensing units. Technologically advanced condensing units are appreciated by the consumers primarily due to the extended durability and shelf life, and improved performance of the refrigeration systems and air-conditioning systems. The rising demand for advanced refrigeration from the developing nations of Europe and North America increases the demand for condensing unit in these regions.

Among all types, the air-cooled condensing unit segment is the fastest-growing type segment in the market, as it provides the advantage of water conservation. Most of the power plants are promoting use of air-cooled condensing unit so as to reduce impact on water supplies. Thus, with the rising concern of water shortage, the market is estimated to witness strong growth in the coming years. The demand is estimated to come primarily from the developing nations such as China, India, Brazil, and others.

Commercial refrigeration is the largest application industry for condensing units. The demand for condensing units is growing in the application industries owing to advancements in the technologies. The growing supermarket and food processing & storage facility industries in emerging nations are expected to drive the demand of condensing units for commercial application segment.

Middle East & Africa is the fastest-growing market for condensing units. Growth in the region is backed by increasing demand from end-use applications which include supermarkets, cold storage, food processing, and restaurants among others.

The growing industrialization is steadily increasing the demand for multipurpose, high-performance condensing units that ease the operations. Latin America is estimated to register the second-highest growth during the forecast period, in terms of volume, owing to the dominance of the mining industry, which triggers the demand for condensing units in the region.

Condensing Unit Market

Increasing concerns about the high GWP (global warming potential) of common CFC (chlorofluorocarbon) refrigerants have adversely affected the growth of the condensing unit market in Europe and North America. Although refrigerants/refrigeration gases, such as CFC, fluorocarbons, carbon dioxide (CO2), ammonia, hydrocarbons, and hydrofluoroolefins (HFO) are consumed in little amount in an efficient condensing unit, the number seems disastrous collectively for millions of units. The presence of various regulations and regulatory instruments have created complexities and uncertainties for manufacturers who need guidance regarding the regulations and barriers relevant to low-GWP refrigerants.

Major players such as Emerson, Carrier Commercial Refrigeration, and Danfoss dominate the condensing unit market. Most of the developments in the market are new product launches, which clearly indicates the need for constant product development in order to maintain or increase the market share. Suppliers depend heavily on their brand equity and have to promote consistently through advertising. Manufacturers constantly look to develop customer loyalty by providing good after sales services to their customers in this market. Key market players operating in the global condensing unit market, such as Emerson Electric Company, Carrier Commercial Refrigeration, Danfoss, GEA Group, Heatcraft Worldwide Refrigeration, Bitzer, and others, have adopted various strategies to increase their market shares. Agreements and new product launches are some of the key strategies adopted by market players to achieve growth in the condensing unit market.

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