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Condensing Unit Market worth $57.1 billion by 2027 - Exclusive Report by MarketsandMarkets™CHICAGO, July 7, 2022 /PRNewswire/ -- According to the new market research report "Condensing Unit Market by Type (Air-cooled, Water-cooled), Application (Industrial, Commercial, Transportation), Function (Air Conditioning, Refrigeration, Heat Pumps), Refrigerant Type, Compressor Type and Region - Global Forecast to 2027", published by MarketsandMarkets™, the Condensing Unit Market is projected to grow from USD 39.0 billion in 2022 to USD 57.1 billion by 2027, at a CAGR of 7.9% from 2022 to 2027. Growing cold chain infrastructure in emerging countries such as India, China, and Indonesia due to increase in online grocery market along with growing preference towards packaged food, growing data center market globally, expansion in supermarket and hypermarket chain, increasing footprint of convenience and proximity stores are the key drivers for growth in the condensing unit market.  Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=622171 Browse in-depth TOC on "Condensing Unit Market" View Detailed Table of Content Here: https://www.marketsandmarkets.com/Market-Reports/condensing-unit-market-622171.html By type, the air-cooled condensing unit segment accounted for the largest market share in 2021, in terms of value. Growing industrialization and urbanization offer significant opportunities for the use of high-performance air-cooled condensing units in the Asia Pacific region. Other major factors influencing the growth of condensing unit market include increased demand for food storage equipment, data centers, super & hyper markets, and others. By application, the industrial segment is expected to grow at the considerable rate during the forecast period, in terms of value. Condensing units in industrial applications are primarily used in petrochemical plants, and steel & cement plants. Hence, the increasing demand for these end-use industries ar expected to propel the demand of condensing units in industrial application. Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=622171 By function, the air conditioning segment dominates the condensing unit market in 2021, in terms of value. Condensing units are extensively used in chemical plants, power plants, ice manufacturing units, cold storage, and hotel & restaurants. Thus, a growing number of cold storage warehouses and hotels is expected to enhance the air conditioning segment of condensing unit market. The Asia Pacific condensing unit market has the largest market share in 2021, in terms of value. The markets growth can be attributed to increasing demand for the storage of convenience products, such as packaged foods, dairy products, etc. Also, the growth was further propelled by the rise in demand for condensing units from supermarkets and organized retail food chains. Some of the leading players operating in the condensing unit market include Emerson Electric Co. (US), Carrier Global Corporation (US), Danfoss (Denmark), GEA Group Aktiengesellschaft (Germany), Heatcraft Refrigeration Products LLC (US), BITZER SE (Germany). These players have adopted new product development strategies, expansions, and partnerships to enhance their position in the market. Browse Adjacent Markets: Chemical Market Research Reports & Consulting Related Reports: 1. INDUSTRIAL REFRIGERATION MARKET - GLOBAL FORECAST TO 2026 2. HVAC SYSTEM MARKET - GLOBAL FORECAST TO 2026 About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions. Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve. 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