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Overview of the global refrigeration condenser market

According to Technavio’s analyst, the global refrigeration condenser market is anticipated to grow at a steady rate and will post a CAGR of close to 6% during the forecast period. The growing demand for replacements in developed countries such as the US, the UK, Germany, and Japan will drive the growth prospects for the global refrigeration condenser market until the end of 2021. Some of the major factors responsible for the growing need for the replacement of existing industrial refrigeration systems includes reduced operating costs, fewer maintenance costs, low repair costs, and favorable rebates and incentives provided for the replacement of industrial refrigeration systems from the government. Also, the growing concern towards the energy efficiency will increase the investments made towards the replacement of old industrial refrigeration systems. All the above factors will drive the global refrigeration condenser market’s growth due to the reduced use of freon and other Chlorofluorocarbon (CFC) refrigerants and the replacement of refrigeration units. 

The increasing product innovations in refrigeration condenser will drive the growth prospects for the global refrigeration condenser market for the next four years. Some of the major factors responsible for the growing product innovations is the increasing preference for higher efficiency and better output, greater cooling capacity, energy efficiency.

Competitive landscape and key vendors

The global refrigeration condensers market is highly competitive and diversified due to the presence of a large number of regional and international vendors across the globe. It has been observed that new vendors are increasingly finding it difficult to compete against established players or international vendors in terms of quality, features, functionalities and services. Moreover, according to the industry research report, the competitive environment in the market is expected to increase in the coming years due to the growing product extensions, technological innovations, and mergers and acquisitions.

Key vendors in this market are -

• Alfa Laval
• Carrier
• Daikin Industries
• Güntner
• Kelvion Holding

Other prominent vendors in the market include Airedale Air Conditioning, EVAPCO-BLCT Dry Cooling, Lennox International, Ingersoll Rand, ENEXIO MANAGEMENT, and vertiv.

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Segmentation by application and analysis of the refrigeration condenser market

• Commercial refrigeration
• Industrial refrigeration

The commercial refrigeration segment accounted for the majority market share during 2016 and will continue to dominate the market for the next four years. Retail outlets like supermarkets and other stores require refrigerators such as walk-in coolers, display cases, beverage refrigerators, and ice-making machines. As a result, the growing retail sector due to the growth of developing economies such as India, China, and countries in the Middle East will propel the growth potential of the market’s segment. Also, the growing refrigerated display case segment for displaying food products will drive the market’s segment. 

Segmentation by geography and analysis of the refrigeration condenser market

• Americas
• APAC
• EMEA

In terms of geography, the Americas accounted for the majority market share during 2016 and will continue to dominate the market during the forecasted period. Some of the major factors responsible for the market's growth includes the improving capital investment environment, increasing demand for processed food, and growth in pharma industries. Also, the market is witnessing an increasing sales volume of industrial refrigeration due to the changing lifestyles and shifts in food consumption patterns in this region.

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Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global refrigeration condenser market?
• What are the key market trends impacting the growth of the global refrigeration condenser market?
• What are the challenges to market growth?
• Who are the key vendors in the global refrigeration condenser market?
• What are the market opportunities and threats faced by the vendors in the global refrigeration condenser market?
• What are the trending factors influencing the market shares of the Americas, APAC, and EMEA?
• What are the key outcomes of the five forces analysis of the global refrigeration condenser market?

Technavio also offers customization on reports based on specific client requirement.

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• Global Walk-In Refrigerator Market 2017-2021