International.
The global condenser unit market is forecast to reach $23.31 billion by 2021, growing at a compound annual growth rate (CAGR) of 11.1% from 2016 to 2021, according to a report published by MarketsandMarkets.
The high demand for condensing units from the commercial refrigeration industry is expected to drive the growth of this market in the near future.
Industrial refrigeration is forecast to be the fastest growing application segment between 2016 and 2021. Growth in the construction and general manufacturing industries is also projected to drive demand for condensing units.
Air-cooled condensing units represent the largest market segment in 2015. Widespread commercial applications, low maintenance and installation cost, and increasing water scarcity are the key factors driving the growth of this segment.
