Global Condensers Market Share Report 2024, Forecast To 2033
10 Jan, 2024
The condensers market has exhibited strong growth, increasing from $99.78 billion in 2023 to $107.32 billion in 2024, demonstrating a 7.5% CAGR. Historical growth drivers include industrial growth, environmental regulations, replacement demand, and concerns about the environment. Expectations for strong growth continue, projecting the market to reach $146.21 billion in 2028, with a CAGR of 8.0%. Contributing factors include growth in HVAC and refrigeration, expansion in power generation, and industrialization in emerging markets.
Global Condensers Market Key Driver
The condensers market is witnessing growth driven by the escalating demand for renewable energy generation. Synchronous condensers play a vital role in stabilizing energy from renewable sources. In 2022, renewable energy accounted for about 13.1% of total US primary energy consumption, indicating a growing reliance on renewable sources and contributing to the condensers market's expansion.
Get A Free Sample Of The Global Condensers Market ReportGlobal Condensers Market Segments
The condensers market covered in this report is segmented –
1) By Product Type: New, Refurbished
2) By Cooling Type: Air-Cooled, Evaporative, Water-Cooled
3) By Application: Industrial, Commercial, Transportation
By Geography: The regions covered in the condensers market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions
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
Major Condensers Industry Players
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.
Get The Full Global Condensers Market Report
Condensers Market Overview
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.
Condensers Global Market Report 2023 provides data on the global condensers market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The condensers market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.