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 market.
The Middle East & Africa is projected to grow at the highest rate between 2016 and 2026. The Saudi Arabia evaporative condensing unit market is expected to grow at the highest CARG between 2016 and 2026. High economic growth of Saudi Arabia is significantly contributing to the growth of the evaporative condensing unit market in the region. Egypt is one of the key markets for evaporative condensing units in the Middle East & Africa, due to growth of commercial refrigeration industries, such as cold storage, food processing, and power industries, in the country.
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.
