Press release
Condensers Global Market Size 2023, Global Industry Share, Growth Rate, Trends, Business Opportunities, Demand And Forecast By 2032
Condensers Market
The Business Research Company's Condensers Market Report 2023 identifies growing demand for renewable energy generation as the major driver for the Condensers Market's growth in the forecast period. The network operators and developers of renewable energy are gradually turning to synchronous condensers to offer incremental short-circuit capacity to reinforce their grid. According to the International Energy Agency (IEA), annual investment in new renewable energy generation efficiency is projected to reach $230 billion by 2020.
The global condensers market size will grow from $99.7 billion in 2022 to $105.78 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global condensers market size is expected to grow to $141.1 billion in 2027 at a CAGR of 7.5%.
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Major competitors in the Condensers Market are ABB, Siemens AG, General Electric, Eaton Corporation, Voith Group.
A key trend in the Condensers Market includes integration of AI in the air conditioner. Major companies operating in the air conditioning sector are implementing AI technology to increase their performance. For instance, in April 2020, TCL Technology, a China-based electronics company introduced AI-powered ultra-inverter AC in India. The AI-powered ultra-inverter AC is equipped with an ultra-tropical compressor and has a gold titanium evaporator and condenser that can improve the performance and life of both the evaporator and the condenser.
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The Condensers Market is segmented -
• By Product Type: New, Refurbished
• By Cooling Type: Air-Cooled, Evaporative, Water-Cooled
• By Application: Industrial, Commercial, Transportation
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Condensers Market.
The Business Research Company's "Global Condensers Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Condensers Market Include:
1. Executive Summary
2. Condensers Market Characteristics
3. Condensers Market Trends And Strategies
4. Condensers Market - Macro Economic Scenario
5. Condensers Market Size And Growth
…………………………………………..
26. Africa Condensers Market
27. Condensers Market Competitive Landscape And Company Profiles28. Key Mergers And Acquisitions In The Condensers Market
29. Condensers Market Future Outlook and Potential Analysis
30. Appendix
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