Condensers Global Market Report 2024

Description

“Condensers Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on condensers market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for condensers? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The condensers market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Product Type: New; Refurbished
2) By Cooling Type: Air-Cooled; Evaporative; Water-Cooled
3) By Application: Industrial; Commercial; Transportation
Companies Mentioned: ABB Ltd.; Siemens AG; General Electric Company; Eaton Corporation plc; Voith Group
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Condensers are devices used to transform gaseous substances into a liquid state through cooling. They play a crucial role in improving stability and maintaining voltages within desired limits, especially during changing load conditions and contingency situations.

The primary product categories for condensers include new and refurbished units. Refurbished condensers are items that have been inspected and repaired to ensure their functionality. Condensers can be categorized based on their cooling mechanisms, which include air-cooled, evaporative, and water-cooled types. These condenser units find applications across various sectors, including industrial, commercial, and transportation, where they are essential for various cooling and stability needs.

The condensers market research report is one of a series of new reports from The Business Research Company that provides condensers market statistics, including condensers industry global market size, regional shares, competitors with a condensers market share, detailed condensers market segments, market trends, and opportunities, and any further data you may need to thrive in the condensers industry. This condensers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The condensers market size has grown strongly in recent years. It will grow from $99.78 billion in 2023 to $107.32 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth observed during the historical period can be attributed to several factors, including industrial growth leading to increased demand for condensers, the influence of environmental regulations requiring more efficient cooling systems, replacement demand for aging condenser units, and heightened concerns related to environmental impact and sustainability. These factors have driven the growth of the condenser market.

The condensers market size is expected to see strong growth in the next few years. It will grow to $146.21 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be attributed to various factors, including the expansion of HVAC (Heating, Ventilation, and Air Conditioning) and refrigeration sectors, increased power generation activities, and industrialization in emerging markets. Key trends expected in the forecast period encompass technological advancements in condenser technology, innovations in materials used in their construction, the integration of smart technologies for more efficient operation, a focus on miniaturization and compact design, the development of customization and modular solutions, and a continued emphasis on research and development to enhance condenser performance.

The growth of the condensers market is significantly driven by the increasing demand for renewable energy generation. Synchronous condensers (SCs) play a vital role in generating reactive power and assisting in stabilizing energy output from renewable sources. Operators of power networks and developers of renewable energy projects are increasingly turning to synchronous condensers to enhance short-circuit capacity and reinforce grid stability. In September 2023, data from the US Energy Information Administration revealed that renewable energy sources accounted for approximately 13.1% of total US primary energy consumption and around 21.5% of total utility-scale electricity generation in 2022. This escalating demand for renewable energy is expected to be a key driver of the condensers market's growth in the forecast period.

The condenser market is also poised to benefit from the expansion of the automotive industry. This sector encompasses various organizations involved in the design, development, manufacturing, marketing, and maintenance of motor vehicles. Condensers are integral components of a vehicle's air conditioning system, crucial for cooling and dehumidifying the air, thereby reducing cabin humidity. In May 2023, a report by the European Automobile Manufacturers' Association (ACEA) indicated that global motor vehicle production reached 85.4 million units in 2022, marking a 5.7% increase from the previous year. Similarly, data from the International Organization of Motor Vehicle Manufacturers showed that the total production of cars and commercial vehicles grew from 80,145,988 in 2021 to 85,016,728 in 2022. This growth in the automotive sector is expected to be a driving force for the condenser market.

The integration of artificial intelligence (AI) into air conditioning systems is shaping the condensers market. Major companies in the air conditioning sector are leveraging AI technology to enhance the performance of their systems. For example, LG introduced AI-based air conditioners in September 2023, equipped with sensors to ensure precise airflow, optimal temperature control, and humidity management in indoor environments.

Innovative condenser technologies are being developed by major companies to boost revenues in the condensers market. One such innovation is the air-cooled condenser, designed to minimize environmental impact by reducing water usage, energy consumption, and carbon emissions. In May 2023, Industrial Water Cooling, a South Africa-based manufacturer, launched a new range of Air-Cooled Condensers (ACCs). These condensers, available in induced draft and forced draft configurations, provide efficient cooling without the need for water or other cooling fluids.

In May 2021, Hanon Systems, a South Korea-based automotive parts manufacturer, acquired Keihin Corporation for an undisclosed amount. This strategic move aims to expand Hanon Systems' automotive condenser portfolio in Europe and North America. Keihin Corporation, based in Japan, is known for its expertise in manufacturing condensers.

Major companies operating in the condensers market include ABB Ltd., Siemens AG, General Electric Company, Eaton Corporation PLC, Voith Group, Fuji Electric Co. Ltd., WEG S.A., Brush Group, Mitsubishi Electric Corporation, Electro-Mechanical Engineering Associates Inc., Ideal Electric Company, Ansaldo Energia S.p.A., Hyundai Ideal Electric Co. Ltd., Sustainable Power Systems Inc., Toshiba Corporation, Power Systems & Controls Inc., Andritz AG, LG Electronics Inc., Midea Group Co. Ltd., Nippon Chemi-Con Corporation, Nortek Global HVAC LLC, QVF Manufacturer LLC, Rheem Manufacturing Company, Samsung Electronics Co. Ltd., Tokyo Electric Chemical Industry Co. Ltd., Trane Technologies PLC, United Technologies Corporation, Vishay Intertechnology Inc., York International Corporation, Zhejiang Weixing Industrial Development Co. Ltd.

The Asia-Pacific was the largest region in the condensers market in 2023. North America was the second largest region in the condensers market. The regions covered in the condensers market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the condensers market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada

The condensers market consists of sales of air-cooled condensers, water-cooled condensers, such as double tube, shell and coil condensers, shell and tube condensers. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r9091

1. Executive Summary

2. Condensers Market Characteristics

3. Condensers Market Trends And Strategies

4. Condensers Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Condensers Market Size and Growth

5.1. Global Condensers Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Condensers Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Condensers Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Condensers Market Segmentation

6.1. Global Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
New
Refurbished
6.2. Global Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Air-Cooled
Evaporative
Water-Cooled
6.3. Global Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Industrial
Commercial
Transportation

7. Condensers Market Regional And Country Analysis

7.1. Global Condensers Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Condensers Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Condensers Market

8.1. Asia-Pacific Condensers Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Condensers Market

9.1. China Condensers Market Overview
9.2. China Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Condensers Market

10.1. India Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Condensers Market

11.1. Japan Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Condensers Market

12.1. Australia Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Condensers Market

13.1. Indonesia Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Condensers Market

14.1. South Korea Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Condensers Market

15.1. Western Europe Condensers Market Overview
15.2. Western Europe Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Condensers Market

16.1. UK Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Condensers Market

17.1. Germany Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Condensers Market

18.5. France Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Condensers Market

19.9. Italy Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Condensers Market

20.13. Spain Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Condensers Market

21.1. Eastern Europe Condensers Market Overview
21.2. Eastern Europe Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Condensers Market

22.1. Russia Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Condensers Market

23.1. North America Condensers Market Overview
23.2. North America Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Condensers Market

24.1. USA Condensers Market Overview
24.2. USA Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Condensers Market

25.1. Canada Condensers Market Overview
25.2. Canada Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Condensers Market

26.1. South America Condensers Market Overview
26.2. South America Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Condensers Market

27.1. Brazil Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Condensers Market

28.1. Middle East Condensers Market Overview
28.2. Middle East Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Condensers Market

29.1. Africa Condensers Market Overview
29.2. Africa Condensers Market, Segmentation By Product Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Condensers Market, Segmentation By Cooling Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Condensers Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Condensers Market Competitive Landscape And Company Profiles

30.1. Condensers Market Competitive Landscape
30.2. Condensers Market Company Profiles
- 30.2.1. ABB Ltd.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Siemens AG
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. General Electric Company
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Eaton Corporation plc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Voith Group
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Condensers Market Competitive Benchmarking

32. Global Condensers Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Condensers Market

34. Condensers Market Future Outlook and Potential Analysis

34.1 Condensers Market In 2028 - Countries Offering Most New Opportunities
34.2 Condensers Market In 2028 - Segments Offering Most New Opportunities
34.3 Condensers Market In 2028 - Growth Strategies
34.3.1 Market Trend Based Strategies
34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer