Evaporative Condensing Unit Market - Global Industry Analysis, Size, Share, Trends, Analysis, Growth, and Forecast 2017 - 2025
The applications of evaporative condensers in commercial HVAC have been common over the past few decades. However the recent rate of advancement in this field has been enormous, thanks to the incorporation of newer and better materials, faster and cost-efficient manufacturing processes, and the increasing demand for the perfect HVAC system. The basis of evaporative condensers lies in the enhancement of heat rejection through the evaporation process. In this process, water is sprayed on a coil with air being blown simultaneously through the coil. This air comes from the natural heat of a room and causes the sprayed water to evaporate, thereby becoming cooler and aiding in the cooling of an environment. An evaporative condenser can be used at lower temperatures in order to minimize the load on a compressor, thereby allowing for a reduction in the total power drawn by the HVAC unit. Evaporative condensers can also be used reduce the overall downtime of an HVAC unit, while also making it less expensive in terms of repairs and maintenance, when compared to the air-cooled condensers. This is because evaporative condensers operate at a much smaller pressure difference than the latter. The benefits of using evaporative condensers further increase through the growing demand experienced by this market, coming from the rapidly evolving industrial sectors of all regions in the world, and especially the emerging economies. The relatively high use of high-performance evaporative condensers in refrigeration is also something to watch out for over the coming years, as the growing demand for refrigeration shelves, displays and containers in the food and beverages industry is likely to keep the players in the global evaporative condensing unit market on their toes.
Evaporative condensing units are installed for refrigeration needs across various industries such as chemical, power, and commercial industries among others due to their energy efficient features. The booming food and beverage industry displays an extensive demand for evaporative condensing units for several end-users such as cold stores, restaurants, warehouses, and food processing units. The developing food processing and storage facility industry in emerging economies is anticipated to fuel the growth of the refrigeration application segment of the overall market.
The global evaporative condensing unit market can be segmented on the basis of design, end-use, application, and region. The most applications of evaporative condensing units are refrigeration and air conditioning; of the two, the refrigeration application segment is anticipated to lead the global evaporative condensing unit market.
The key end users of evaporative condensing units include but are not limited to: Commercial, chemical, and power.
The market study presents a thorough overview of the global evaporative condensing unit market, with insights into key growth drivers, restraints, and trends that will impact the market’s future development. The report also delves into the latest trends and opportunities that companies in the global evaporative condensing unit market can leverage for growth.
The report is prepared by gathering data from primary and secondary research sources and using standard research methodologies. The detailed assessment of the global evaporative condensing unit market presented in this study will assist managers, policy makers, and business analysts make informed business decisions.
The development of advanced evaporative condensing units is primarily driving the growth of the global evaporative condensing unit market. Evaporative condensing units that are technologically advanced are being preferred owing to their extended shelf life and durability and they also facilitate improved performance of air-conditioning and refrigeration systems.
Furthermore, evaporative condensing units are used in large commercial industries, particularly the ones that require above 100 tons of refrigeration.
The global evaporative condensing unit market can be segmented into the regional segments of North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Among these, the Middle East and Africa are expected to dominate the global evaporative condensing unit market in the coming years. Saudi Arabia is expected to contribute significantly to the growth of the Middle East and Africa evaporative condensing unit market due to the high economic growth in the country.
In the coming years, the Middle East and Africa evaporative condensing unit market is expected to display a significant growth rate. This is due to the development of the chemical industry, which in turn displays substantial demand for evaporative condensing units in this region.
The rising concerns about the high global warming potency of chlorofluorocarbons (CFC) refrigerants have negatively impacted the growth of the evaporative condensing unit market in North America and Europe. In Europe, refrigerants need to meet EN 378 and ISO 5149 standards in order to be certified as non-toxic and non-flammable. Moreover, the European Environment Agency keeps a check on ammonia emissions from industrial units, commercial, domestic, and agricultural sectors and has laid out stringent regulations for the use of ammonia.
In the U.S., the need to obtain EPA SNAP approval is compulsory before ammonia can be used in refrigerants.
Some of the leading companies in the global evaporative condensing unit market are Baltimore Aircoil Company Inc., SPX Corporation, Evapco Inc., and Mammoth Inc. among others.
The study presents a granular assessment and quantitative evaluation of:
The region-wise assessment includes market dynamics in:
The study is prepared with the help of an extensive primary and secondary research. Primary research includes but not limited to interactions, interviews, surveys, and events. Opinions of policy makers and industry experts are carefully integrated into the insights to complement primary research. Volumes of secondary data gleaned through renowned paid sources, annual statements, reputed journals, and government documents offer insights into current dynamics and key evolution trajectories the market is likely to assume. The research employs various industry-wide analytics methods and well-established methodologies to ascertain the attractiveness of key segments. Further, it evaluates the lucrativeness of key regions and factors underlying their maturity. The insights notably include a detailed analysis of forces behind vendor differentiation and offers insight into investment-decision making by prominent players.
The report strives to enlighten businesses and industry stakeholders on multiple facets of the growth dynamic of the market, the key of which include answers to:
Note: Utmost care has invariably been taken to present data and arrive at statistics at all the TMR Research reports. Meanwhile, some recent developments and new industry trends may take time to be included in the reports.
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