From GlobeNewswire: 2025-04-22 10:00:00

The condensing unit market was valued at USD 40.30 billion in 2023, expected to reach USD 74.66 billion by 2032 with a CAGR of 7.09%. Growth is driven by the demand for efficient cooling solutions in commercial and industrial applications, with innovations in compressor technology and eco-friendly refrigerants driving market expansion.

The U.S. condensing unit market is forecasted to grow from USD 6.74 billion in 2023 to USD 12.89 billion by 2032, with a CAGR of 7.48%. Increasing demand for energy-efficient refrigeration and HVAC systems across commercial and industrial sectors, along with rising adoption of sustainable cooling solutions, are key factors driving market growth.

Asia-Pacific leads the global condensing unit market share, with North America emerging as the fastest-growing region due to rising awareness and adoption of energy-efficient refrigeration systems. The growth of industrialization and manufacturing industries in Asia-Pacific, as well as increasing government initiatives and favorable economic conditions, contribute to market expansion in the region.

In 2023, the air-cooled segment dominated the market, accounting for over 65% of the total share. Air-cooled systems offer advantages like affordability, easy installation, and low maintenance requirements, making them popular in residential, commercial, and light industrial applications.

The air conditioning segment held over 48% of the market share in 2023, driven by high usage in residential, commercial, and industrial applications. Increasing demand for efficient climate control systems in sectors like offices, shopping malls, and hospitals, along with a focus on energy-efficient and smart devices, contributes to segment growth.

The commercial segment led the market in 2023 with over 53% share, driven by increasing refrigeration needs in supermarkets, restaurants, convenience stores, and cold storage facilities. Dependable commercial refrigeration is essential for preserving food and maintaining product quality, leading to increased adoption of commercial cooling systems.

In 2023, the reciprocating compressor segment dominated the market with over 72% share, favored for their ability to operate at high pressure, under variable loads, and with minimal maintenance requirements. Reciprocating compressors are widely used in industries like food processing and pharmaceuticals due to their accurate temperature control capabilities.

North America is the fastest-growing region in the condensing unit market, driven by a focus on sustainability and carbon reduction through investments in energy-efficient HVAC and refrigeration technologies. Regulatory support for low-global warming potential refrigerants and increasing demand for efficient cooling systems in commercial infrastructure contribute to market growth.

The condensing unit market report provides insights into market size, segment analysis, competitive landscape, regional analysis, and forecast outlook. Key segments include type, end-use, and compressor type, with drivers like rising demand for commercial refrigeration driving market growth.

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