Press release
Condensing Unit Market Set for Strong Growth to US$ 64.01 Billion by 2032, Led by Asia Pacific's 70.2% Market Share | Key Players - Emerson Electric Co., Carrier Global Corporation, Daikin Industries, Ltd.
Condensing Unit Market
Market growth is driven by rising demand for energy-efficient refrigeration in food processing and cold chain logistics, expanding commercial refrigeration needs in retail and hospitality, and stringent regulations on low-GWP refrigerants. Advancements in inverter technology, growing adoption of smart condensing units with IoT integration, surging cold storage infrastructure in emerging markets, and increasing focus on sustainable HVAC systems are further accelerating market expansion.
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Key Industry Developments
United States:
✅ January 2026: Carrier launched an advanced R-454B refrigerant condensing unit series with inverter technology for superior energy efficiency and reduced emissions, targeting commercial refrigeration in retail and food service sectors.
✅ December 2025: Emerson Electric introduced variable-capacity condensing units featuring AI-optimized scroll compressors, improving reliability for supermarket applications.
✅ November 2025: Danfoss unveiled next-gen CO2 condensing units with ejector technology, boosting efficiency in transcritical operations for U.S. industrial cooling.
Asia Pacific / Japan:
✅ January 2026: Mitsubishi Electric Japan released the C-puzzle CO2 condensing unit lineup with modular design for easier installation in compact urban refrigeration setups.
✅ December 2025: Panasonic expanded iCOOL series in Asia Pacific with non-freon, low-GWP refrigerant units optimized for high-ambient tropical climates.
✅ October 2025: Embraco debuted Japan-specific condensing units compliant with local 200V power norms and ultra-high efficiency standards for food retail displays.
Key Players:
Emerson Electric Co. | Carrier Global Corporation | Daikin Industries, Ltd. | Danfoss A/S | GEA Group AG | Mitsubishi Electric Corporation | BITZER Kühlmaschinenbau GmbH | Johnson Controls International plc | Heatcraft Refrigeration Products LLC | Tecumseh Products Company LLC
Strategic Leadership Report: Top 5 Players in Condensing Unit Market 2026
-Emerson Electric Co.: Launched Copeland CO2 scroll compressors with smart electronics and dynamic vapor injection technology, simplifying CO2 booster systems while boosting efficiency for transcritical refrigeration applications.
-Carrier Global Corporation: Introduced Puron Advance refrigerant condensing units with advanced scroll compressors, delivering superior energy efficiency and low-GWP performance for commercial refrigeration and HVAC systems.
-Daikin Industries, Ltd.: Debuted VRV condensing units featuring inverter-driven scroll technology and R-32 refrigerant, enabling precise capacity control and reduced environmental impact in commercial cooling setups.
-Danfoss A/S: Released Turbocor oil-free centrifugal compressors for condensing units, providing high-efficiency, low-maintenance operation with magnetic bearing technology for large-scale industrial refrigeration.
-BITZER Kühlmaschinenbau GmbH: Unveiled Ecoline+ CO2 series condensing units with semi-hermetic compressors, optimizing transcritical performance and energy savings for supermarket and cold storage environments.
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Market Drivers and Key Trends:
-Refrigeration Demand Surge: Rapid growth in cold chain logistics, food & beverage processing, and pharmaceuticals boosts need for reliable condensing units to maintain temperature-sensitive goods.
-Energy Efficiency Push: Adoption of advanced compressors and low-GWP refrigerants aligns with global regulations like F-Gas mandates, reducing operational costs and emissions.
-Urbanization Impact: Rising residential, commercial constructions, and data centers in Asia-Pacific drive demand for air-cooled condensing units in HVAC and cooling systems.
-Sustainability Focus: Innovations in eco-friendly designs, such as inverter technology and natural refrigerants, support net-zero goals amid tightening environmental standards.
-Market Hurdles: High upfront costs for energy-efficient models, supply chain disruptions for components, and stringent compliance with varying regional regulations constrain scalability.
Regional Insights:
-Asia Pacific: 70.2% (Largest share, driven by rapid industrialization, urbanization, and high demand for energy-efficient refrigeration in food & beverage and cold storage sectors, especially in China).
-North America: 15% (Second largest, supported by strong commercial and industrial demand in the U.S. and Canada, with growth in office spaces and replacement sales).
-Europe: 10% (Third, bolstered by steady investments in HVAC and regulatory pushes for efficient systems in countries like Germany and the UK).
Market Opportunities & Challenges: Condensing Unit Market 2026
-Opportunities: A "Decarbonization Surge" accelerates demand for low-GWP refrigerant units, fueled by EU F-Gas phasedown and U.S. AIM Act mandates enabling seamless retrofits for ESG-compliant cold chain upgrades. IoT-integrated "Smart Cooling" platforms with variable-speed compressors attract data center and pharma precision cooling investors, alongside Asia-Pacific cold storage expansions in food logistics.
-Challenges: Volatility in copper and steel raw materials disrupts manufacturing margins, compounded by stringent refrigerant safety certifications delaying product launches. Navigating fragmented supply chains amid U.S.-China trade frictions demands localized assembly strategies for residential HVAC adoption.
-Strategic Verdict: Energy-efficient air-cooled units and CO2-based booster systems emerge as dominant growth vectors for 2026, prioritizing sustainability-driven retrofits.
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Market Segmentation Analysis:
-By Type: Air-Cooled Leads for Efficiency
Air-cooled units dominate with 55% share in 2024, prized for lower installation costs, no water needs, and suitability in compact commercial refrigeration setups.
Water-cooled capture 30%, excelling in high-heat industrial environments via superior heat rejection but requiring water infrastructure.
Evaporative units hold 15%, blending air and water cooling for energy savings in moderate climates, though maintenance limits broader use.
-By Application: Commercial Holds Top Spot
Commercial refrigeration claims 50% share, powering supermarkets and retail chillers amid rising food storage demands.
Industrial takes 35%, vital for large-scale factories and processing plants needing robust, continuous cooling.
Transportation secures 15%, enabling refrigerated trucks and shipping for perishable goods logistics.
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