Global Condensers Market Size, Drivers, Trends, Opportunities And Strategies – Includes Condensers Market Share
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The growing demand for renewable energy generation are expected to drive innovation in condensers manufacturing, thus driving the market during the forecast period.
The global condensers market is expected to grow from $99.7 billion in 2022 to $105.78 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The global condensers market size is expected to grow to $141.1 billion in 2027 at a CAGR of 7.5%.
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- By Product Type: New, Refurbished
- By Cooling Type: Air-Cooled, Evaporative, Water-Cooled
- By Application: Industrial, Commercial, Transportation
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global condensers market in 2021.
Major Market Players in the condensers market include ABB, Siemens AG, General Electric, Eaton Corporation, Voith Group, Fuji Electric, WEG, BRUSH Group, Mitsubishi Electric, and Electro Mechanical Engineering Associates Inc.
The integration of AI in the air conditioner is shaping the condensers market. Major companies operating in the air conditioning sector are implementing AI technology to increase their performance. For instance, in April 2020, TCL Technology, a China-based electronics company introduced AI-powered ultra-inverter AC in India. The AI-powered ultra-inverter AC is equipped with an ultra-tropical compressor and has a gold titanium evaporator and condenser that can improve the performance and life of both the evaporator and the condenser.
The Condensers Global Market Report 2023 provides a condensers market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The condensers market forecast analyzes condensers market size, condensers market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Condensers refer to an apparatus used to condense gaseous substances into a liquid state through cooling to improve stability and to maintain voltages within desired limits under changing load conditions and contingency situations.
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