The evaporative condensing unit market is projected to reach USD 1.61 billion by 2026, at a CAGR of 7.2% from 2016 to 2026. This growth can be attributed to the improved quality of evaporative condensing units and their increasing demand from various industries, such as food processing & storage facilities, power plant, chemical plant, ice manufacturing facilities, among others. Baltimore Aircoil Company, Inc., Evapco Inc., Johnson Controls Inc., SPX Corporation, and Mammoth Inc., among others are some of the leading players in the evaporative condensing unit industry.

Introduction of evaporative condensing units with advanced technologies has contributed to the growth of this market. Advanced evaporative condensing units are in demand primarily due to the benefits that they offer, such as adaptability, extended durability and shelf life, and improved performance of refrigeration and air-conditioning systems. Thus, the growing demand for advanced refrigeration systems is expected to fuel the growth of the evaporative condensing unit market.

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Evaporative Condensing Unit Market

Evaporative condensing units are being used for refrigeration and air conditioning purposes in commercial end-use industries, such as hotels & restaurants, food processing units, and cold storages & warehouses. These are being used in refrigeration and air conditioning applications in large commercial industries, especially where more than 100 TR (tons of refrigeration) is required. All luxury facilities in the food & service industry prefer evaporative condensing units due to the benefits that they offer, such as adaptability, extended durability and shelf life, and improved performance of refrigeration and air-conditioning systems. Thus, the growing demand for advanced refrigeration systems is expected to fuel the growth of the evaporative condensing unit market for commercial industries.

Key players operational in the evaporative condensing unit market are focusing on new product launches, expansions, and agreements to cater to the increasing demand for evaporative condensing units from various industries. Baltimore Aircoil Company, Inc. and Johnson Controls Inc. reported the largest number of developments in the evaporative condensing unit market between 2011 and 2016.

In 2015, Baltimore Aircoil Company, Inc., a leading player in the evaporative condensing unit market, launched a new evaporative condenser selection software. Baltimore Aircoil Company, Inc. is a multinational company offering products in heat rejection, thermal storage equipment, and other refrigeration technologies. Evaporative condensing units launched by the company have low condensing temperature, high-energy efficiency, and reduced environmental impact.

In 2016, Johnson Controls Inc. and Tyco, a global fire and security provider, merged to form Johnson Controls plc. to offer consumers varied energy storage products and technologies as well as integrated solutions. In 2015, Johnson Controls Inc. and Shanghai Jianke Building Energy Service Co., Ltd. entered into an agreement to improve energy efficiency of buildings and achieve sustainable development. The agreement enabled companies to construct energy-efficient buildings by reducing energy consumption by 10% annually. In 2015, DECSA s.r.l. launched CFR evaporative condensers, which are air-cooled condensing units for low temperature applications in hot climate. Built with Z725 galvanized steel sheets, these condensers offer high corrosion resistance with low energy consumption. The company offers a variety of condensing unit technologies for various applications, such as refrigeration, air conditioning, and heat pump.

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In 2015, DBT Technologies (Pty) Ltd. (a South African subsidiary of SPX Corporation) and Alstom S & E Africa (Pty) Ltd. (a subsidiary of General Electric) entered into an agreement to work collaboratively on Kusile power plant project located in South Africa. This agreement is expected to strengthen the position of SPX Corporation in the South Africa evaporative condensing unit market.

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