Global Condensers Market Trends And Strategies Of Major Players In The Condensers Market 2021-2030
26 Oct, 2021
The condensers market consists of sales of condensers and related services by entities (organizations, sole traders, and partnerships) that produce condensers which are used to condense gaseous substances into a liquid state through cooling. Only goods and services traded between entities or sold to end consumers are included.
Global Condensers Market Size And Drivers:
The global condensers market is expected to grow from $138.04 billion in 2020 to $143.67 billion in 2021 at a compound annual growth rate (CAGR) of 4.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $194.41 billion in 2025 at a CAGR of 7.9%. The growing demand for renewable energy generation is a major factor contributing to the growth of the condensers market.
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Trends In The Global Condensers Market
The integration of AI in the air conditioner is shaping the condensers market. 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.
Global Condensers Market Segments:
The global condensers market is further segmented –
By Product Type: New, Refurbished
By Cooling Type: Air-Cooled, Evaporative, Water-Cooled
By Application: Industrial, Commercial, Transportation
By Geography: The global condensers market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Condensers Market At:
https://www.thebusinessresearchcompany.com/report/condensers-global-market-reportCondensers Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides condensers market overviews, analyzes and forecasts market size and growth for the global condensers market, condensers market share, condensers market players, condensers market segments and geographies, condensers market’s leading competitors’ revenues, profiles and market shares. The condensers market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.