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Press release content from Business Wire. The AP news staff was not involved in its creation.

Global Condensers Market Report (2021 to 2030) - Focus on New and Refurbished - ResearchAndMarkets.com

September 2, 2021 GMT

DUBLIN--(BUSINESS WIRE)--Sep 2, 2021--

The “Condensers Global Market Report 2021: COVID-19 Impact and Recovery to 2030” report has been added to ResearchAndMarkets.com’s offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global condensers market as it emerges from the COVID-19 shut down.

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%.

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Companies Mentioned

  • ABB
  • Siemens AG
  • General Electric
  • Eaton Corporation
  • Voith Group
  • Fuji Electric
  • WEG
  • BRUSH Group
  • Mitsubishi Electric
  • Electro Mechanical Engineering Associates Inc.
  • Ideal Electric Company
  • Ansaldo Energia
  • Hyundai Idela Electric Co.
  • Sustainable Power Systems Inc
  • Toshiba Corporation
  • Power Systems & Controls Inc.
  • Andritz

Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider condensers market, and compares it with other markets.

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  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The condensers market section of the report gives context. It compares the condensers market with other segments of the condensers market by size and growth, historic and forecast.

The condensers market covered in this report is segmented by product type into new; refurbished, by cooling type into air-cooled; evaporative; water-cooled, by application into industrial; commercial; transportation.

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.

The growing demand for renewable energy generation is a major factor contributing to the growth of the condensers market. Synchronous condensers (SCs) generate reactive power and are a helpful way to stabilize the energy provided by renewable resources. The network operators and developers of renewable energy are gradually turning to synchronous condensers to offer incremental short-circuit capacity to reinforce their grid. According to the International Energy Agency (IEA), annual investment in new renewable energy generation efficiency is projected to reach $230 billion by 2020. Global renewable energy production is expected to increase by 45% and to make up almost 26% of global electricity generation by 2020. Therefore, the growing demand for renewable energy generation is expected to drive the growth of the condensers market over the coming years.

For more information about this report visit https://www.researchandmarkets.com/r/9jmif7

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SOURCE: Research and Markets

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PUB: 09/02/2021 12:00 PM/DISC: 09/02/2021 12:01 PM

http://www.businesswire.com/news/home/20210902005651/en