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Transportation Condensing Units Market

Transportation Condensing Units Market

Transportation Condensing Units Market

Transportation Condensing Units Market by Cooling Capacity (Below 5 KW, 5 - 10 KW, 10 - 15 KW, 5.3.4, Above 15 KW), Compressor Type (Reciprocating, Rotary, Scroll), Sales Channel (OEM, Aftermarket), Vehicle Type (Trucks, Trailers) & Region – Forecast to 2022 - 2029

Transportation Condensing Units Market Outlook : 2022 - 2029

[220 Pages Report] Sales in the global transportation condensing units market are slated to top US$ 2.8 Bn in 2022. Expanding at a healthy 5.7% CAGR, the market size is projected to total US$ 3.9 Bn by 2028.

Attribute

Details

Transportation Condensing Units Market Estimated Size 2022

US$ 2.8 Bn

Transportation Condensing Units Market Value-based CAGR (2022-2029)

~5.7%

Transportation Condensing Units Market Size in Projected 2029

US$ 3.9 Bn

Rapid urbanization, especially in developing countries, is set to propel the demand for transportation of a wide range of goods via cold storage chain, thereby boosting sales in the market. Also, the ongoing evolution of federal policies and developments in the field of cold chain are anticipated to support the growth in the market.

Further, the ability of these units to condense a particular substance from its gaseous to liquid state through cooling, generally in chillers, heat pumps, air conditioners, and refrigerators is likely to bolster their demand in the upcoming years. These are also available in various sizes and designs, such as evaporative, air-cooled, and water-cooled transportation condensing units.

2014-2021 Transportation Condensing Units Market Outlook in Comparison to 2022-2029 Growth Forecast

The transportation condensing units market is expected to register a 5.7% CAGR between 2022 and 2029, up from the 5.4% CAGR recorded during 2014-2021.

Rapid expansion of the food and beverage industry across the globe is anticipated to drive the market in the near future. It is expected to boost the development of cold supply chain and warehouse facilities, thereby propelling the demand for transportation condensing units.

Moreover, many foodservice providers, such as caterers and foodservice chains are likely to invest in the deployment of refrigerated display cases to fulfill the demand for chilled or frozen food and beverages, thereby fueling sales in the market.  

As per the American Frozen Food Institute (AFFI), in 2020, the share of core frozen food consumers surged by 39% from 35% in 2018 because of the COVID-19 pandemic. Additionally, the sales of frozen seafood grew by 35.3%, poultry by 34.7%, and appetizers by 28.9% in the same year. The trend is expected to continue in both developed and developing countries owing to the busy lifestyle of people, thereby driving the market.

How is the Prevalence of Foodborne Diseases Boosting Sales?

Increasing concerns regarding the safety of perishable food and beverages, such as milk, eggs, cottage cheese, sour cream, fresh fruits, chicken, sauces, mushrooms, beef, and breads among consumers is likely to propel the demand for transportation condensing units worldwide.

Perishable food and beverages need to be refrigerated at 40 °F or below to prevent decay and spoilage. Transportation condensing units help in slowing down the growth of bacteria in these food items and prevent the occurrence of foodborne illnesses.

As per the World Health Organization (WHO), every year, around 600 million cases of foodborne diseases and 420,000 deaths occur worldwide owing to the consumption of unsafe food. The organization also predicted that 33 million years of healthy lives are lost each year because of unsafe food worldwide. To reduce the prevalence of these diseases, the adoption of transportation condensing units is projected to surge in the forthcoming years.

Country-wise Insights

What are the Key Drivers of the U.S. Transportation Condensing Units Market?

The presence of numerous frozen food and beverage manufacturers is likely to accelerate demand in the U.S. over the forthcoming years. North America transportation condensing units market is expected to account for 39.6% of the share in 2022, finds FMI.

Besides this, increasing government initiatives to encourage manufacturers to expand their production capacities and geographic presence is another vital factor supporting the U.S. market.

In November 2021, for instance, Governor Ralph Northam of Virginia announced that Nature's Touch Frozen Foods is planning to invest US$ 40.3 million to broaden its presence in Warren County. The company’s new facility will be built by InterChange Group and raw materials will be directly imported to the facility for processing. The Governor mentioned that this would help in reaching out to customers worldwide through the Port of Virginia and create new jobs in the area.

Backed these factors, the U.S. transportation condensing units market is projected to grow at a considerable pace over the assessment period.

How is the U.K. Transportation Condensing Units Market Faring?

Increasing implementation of stringent norms by the government to regulate the transportation of perishable food is expected to augment the market in the U.K. Europe transportation condensing units market is anticipated to generate approximately 32.5% of the share in 2022, says FMI.

The Government of the U.K. has updated its law regarding the transportation of perishable food in or out of the country by trailers, trucks, and heated or refrigerated vans in October 2019. It has set out the number of documents that drivers need to carry to prove their vehicles meet the standards, the temperatures of various foods that are being transported, and the signs that need to be present on these vehicles. Thus, the implementation of various stringent laws by the government to provide high-quality perishable food to customers is likely to boost the market in the U.K.

Will China Transportation Condensing Units Market Exhibit High Demand?

China is estimated to grow at a steady pace backed by its rapid transition to a consumer-driven economy. As per FMI, East Asia transportation condensing units market is likely to account for 9.6% of the share in 2022.

Further, the ongoing expansion of cold storage facilities, as well as increasing import and export activities in China is set to augment the growth. For instance, the port of Manzhouli, which is a major trade hub between China and Russia, is expected to fully resume trade after partial disruptions because of the COVID-19 pandemic. The resumption of other ports and trade hubs in China is anticipated to boost the market in the forthcoming years.

Category-wise Insights

Which Cooling Capacity is Showcasing the Highest Growth?

“Urgent Need to Lower Emissions is Boosting Demand for 10-15 KW Transportation Condensing Units”

By cooling capacity, the 10 - 15 KW segment is estimated to lead the market in terms of the transportation condensing units market share in the near future. Increasing implementation of numerous rules by government bodies in various countries to regulate the usage of conventional condensing units is expected to boost sales in this segment.

According to the researchers of Brunel University, in the U.K., the commercial food sector, including food manufacturing, transport, agriculture, and retailing is responsible for about 22% of the total greenhouse gas emissions. Thus, to lower emissions in the environment, manufacturers are developing static refrigeration units of 10 - 15 KW cooling capacity, which is expected to drive growth in this segment.

Why are Sales of Scroll Compressors Gaining Traction?

“Zero Pulsation Property to Raise Adoption of Scroll Compressors in Transportation Condensing Units”

In terms of compressor type, the scroll segment is projected to remain dominant in the transportation condensing units market. As scroll compressors have excellent individual part-load and full-load efficiency, they are mainly preferred by manufacturers of transportation condensing units.

Additionally, continuous compression process with almost no vibration or pulsation is another factor which is expected to fuel the demand for spiral or scroll compressors. On top of that, these compressors have relatively lesser movable parts and provide lower vibration levels, compared to the others, which is estimated to bolster their demand in the forecast period.

Which is the Most Preferred Sales Channel?

“Availability of Customization to Propel Demand for Transportation Refrigeration Units from OEMs”

Based on sales channel, the OEM segment is anticipated to command a lion’s share in the transportation condensing units market. OEMs are developed by and for the manufacturers of trucks and trailers. They also help in monitoring the on-time delivery performance closely.

In addition, the increasing demand for customized transportation vehicles with state-of-the-art features, especially in developed economies is likely to propel the growth in this segment. Besides this, companies can save on capital costs spent to procure factory space and machinery by outsourcing manufacturing. These factors are expected to continue pushing sales over the forthcoming years.

Which is the Leading Vehicle Type in the Transportation Condensing Units Market?

“Food Manufacturing Companies are Preferring Trailers Equipped with Refrigeration Units”

Based on vehicle type, the trailers segment is expected to remain at the forefront in the transportation condensing units market over the forecast period. Growth is attributable to surging demand for refrigerated trailers to transport perishable food in a temperature-controlled environment.

Besides this, growing trend of online shopping and the rising demand for fresh fruits and dairy products across the globe are likely to drive the adoption of trailers for the transpotation of these products. Many food manufacturing companies are also using advanced trailers equipped with transportation condensing units to cater to the high demand for chilled food items.

Competition Landscape

The transportation condensing units market is highly consolidated. Strategic efforts of many key players are concentrated in maintaining a high sustainability quotient, planning innovative product launches, and making improved designs of condensing units. Meanwhile, some of the other companies are focusing on expanding their manufacturing capacities, creating strong distribution networks, and entering the emerging markets by assessing the demand patterns. For instance:

  • In January 2022, CCC Holdings Europe S.p.A., a private equity firm based in Italy, acquired Kobol, a Spain-based manufacturer of ventilated units, such as evaporators, condensers, gas coolers, dry coolers, and condensing units. This acquisition would enable CCCHE to expand its existing ventilated unit product portfolio and provide its customers with energy-efficient and natural solutions.
  • In June 2021, Nidec Global Appliance, a Japanese manufacturer and distributor of electric motors, announced its plan to invest about US$ 70 million in the development of new production lines for its Embraco brand condensing units and compressors, including isobutane (R600a) and propane (R290) models.

Scope of Report

Attribute

Details

Forecast Period

2022-2029

Historical Data Available for

2014-2021

Market Analysis

Units for Volume and US$ Bn for Value

Key Regions Covered

North America, Latin America, Europe, South Asia, East Asia, Oceania, and the Middle East & Africa.

Key Countries Covered

United States, Canada, Brazil, Mexico, Germany, UK, France, Italy, Spain, Nordic, Russia, Poland, China, India, Thailand, Indonesia, Australia and New Zealand, Japan, GCC countries, North Africa, South Africa, others.

Key Market Segments Covered

Cooling Capacity, Compressor Type, Sales Channel, Vehicle Type, and Region

Key Companies Profiled

  • Ingersoll-Rand plc. (Thermo King)
  • Carrier Corporation (UTC Climate)
  • Emerson Electric Co.
  • Patton International Limited
  • Danfoss
  • Rivacold UK Ltd.
  • Jinan Retek Industries Inc.
  • GEA Group Aktiengesellschaft
  • ADVANSOR A/S
  • Heatcraft Worldwide Refrigeration
  • Frigo S.p.A.
  • Voltas
  • Bitzer SE

Pricing

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Transportation Condensing Units Market by Category

ByCooling Capacity:

  • Below 5 KW
  • 5 - 10 KW
  • 10 - 15 KW
  • 5.3.4. Above 15 KW

By Compressor Type:

  • Reciprocating
  • Rotary
  • Scroll

By Sales Channel:

  • OEM
  • Aftermarket

By Vehicle Type:

  • Trucks
  • Trailers

By Region:

  • North America
  • Latin America
  • Europe
  • South Asia and Oceania
  • East Asia
  • Middle East & Africa (MEA)

Key Questions Answered in the Report

What is the global transportation condensing units market size?

The global transportation condensing units market is expected to reach a valuation of US$ 2.8 Bn in 2022.
The global transportation condensing units market grew at a healthy 5.4% CAGR between 2013 and 2021.
The increasing demand for frozen food and the expansion of cold storage facilities are the key trends boosting the sales of transportation condensing units.
Milwaukee Tool, Alfred Kärcher SE & Co. KG, Makita Corporation, Hilti Group, Robert Bosch GmbH, DeWalt, Nilfisk Inc., and Panasonic Corporation are some of the leading players present in the global transportation condensing units market.
The transportation condensing units market in North America is anticipated to account for 39.6% of the share in 2022.
The Europe transportation condensing units market is projected to account for 32.5% of the share in the forecast period.

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