North America and Europe to Remain Prolific in Industrial Condensing Unit Market, CAGR to Rise at 5.1% through 2028 – Future Market Insights

Industrial Condensing Unit market is flourishing owing to the major use in market development and inclination towards healthy food. South Asia and East Asia will boost their production in the upcoming years.

DUBAI, UAE / ACCESSWIRE / September 28, 2020 / The Industrial Condensing Units Market is likely to surpass US$ 2 billion through the forecast period. Manufacturers and key players are regularly focusing on expanding sales opportunities in the market which will expand in terms of value and revenue, thereby, paving a path for opportunities. Tough competition between players and price structure of Industrial condensing unit can act as key restraints in the market.

"Low-price and cost-efficient industrial units are high in demand. Product innovation and price competitiveness plays a key role in shaping the market scenario. The escalating need for industrial condensing unit in food sector is likely to drive the market growth in near future," says the FMI Analyst.

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Industrial Condensing Units Market – Key Highlights

Industrial Condensing Unit market is likely to create an incremental opportunity of value surpassing US$ 2 Bn.
The global market is expected to grow at a rapid pace, South and East Asia to present lucrative opportunities.
Tier 1 Players of the market hold up to 45% of market share.
On the basis new industrial condensing unit, scroll compressors are the most preferred compressors.

Industrial Condensing Units Market – Driving Factors

Due to increased population and surging demand in fresh food sector, market is expanding globally.
High demand in commercial construction industry drives the market to a great extent.
Rapid industrialization and well-established warehouses/cold-supplies is paving tracks for market expansion.
Owing to the advantages of energy efficiency, unique design and high reliability manufacturers are depending more on it.

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Industrial Condensing Units Market – Key Restraints

Higher price structure of condensing units can affect the growth trend in a major way.
Tough competition exists because units are usually demanded from top companies. .

Expected Impact on Market by Coronavirus Outbreak

Strict lockdown and social distancing is likely to reduce the production but demand for condensing units will revive due to reliance on better quality food products and commercial refrigeration. Key producers and players are likely to improve their strategies by working on product innovation for marking a better footprint in the market. North America and Europe will increase production while South and East Asia will present lucrative opportunities in the upcoming year.

Competitive Landscape

Companies are planning to take up unique strategies to expand their market and gain profit. For an instance, Danfoss has taken up Intermediate Discharge Value in compressors which helps in avoiding over-compression. Key players are expanding their market presence among the peers by launching eco-friendly products and innovating better technology. Distributors and suppliers are working on providing cutting-edge technical assistance while key companies are focussing on higher efficiency units, price competition and marketing strategies.

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This report presents an analysis on the basis of segments including capacity (up to 1 kW, 2-10 kW, 11-40 kW) installation (new installation, retrofit) end-use (domestic appliances, indoor based air conditioners, commercial refrigeration), technology (water-cooled, air-cooled) and region (North America, Europe, Latin America etc.)

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About FMI

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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SOURCE: Future Market Insights

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