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Major players in the condensers market are ABB, Siemens AG, General Electric, Eaton Corporation, Voith Group, Fuji Electric, WEG, BRUSH Group, Mitsubishi Electric, and Electro Mechanical Engineering Associates Inc. Stainless Exhaust Pipe
New York, Feb. 17, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Condensers Global Market Report 2023" - https://www.reportlinker.com/p06282491/?utm_source=GNW The global condensers market will grow from $99.7 billion in 2022 to $105.78 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, causing inflation across goods and services effecting many markets across the globe. The condensers market is expected to grow to $141.1 billion in 2027 at a CAGR of 7.5%. The condensers market consists of sales of air-cooled condensers, water-cooled condensers, such as double tube, shell and coil condensers, shell and tube condensers.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. Condensers refer to an apparatus used to condense gaseous substances into a liquid state through cooling to improve stability and to maintain voltages within desired limits under changing load conditions and contingency situations. The Asia Pacific was the largest region in the condensers market in 2022.North America was the second largest region in the condensers market. The regions covered in the condensers report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The main product types of condensers are new and refurbished.Refurbished refers to an item that will be inspected and repaired. The cooling types are air-cooled, evaporative, and water-cooled. The various applications involved are industrial, commercial, and transportation. 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 makeup 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. 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. In July 2020, Hitachi, Ltd. a Japan-based conglomerate company engaged in manufacturing and selling home air conditioning systems, air purifiers, refrigerators, chillers, and air conditioners acquired ABB Power Grids for $7.8 billion. Through this acquisition, a new business called Hitachi ABB Power Grids is created and this business is aimed at tackling the renewable and distributed energy frontiers of the power industry. ABB is a Switzerland-based electrical & electronic manufacturing company. The countries covered in the condensers market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA. The market value is defined as the revenues that enterprises gain from goods and/or services sold within the specified market and geography through sales, grants, or donations in terms of currency (in USD ($) unless otherwise specified). The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced. It does not include revenues from resales either further along the supply chain or as part of other products. The condensers market research report is one of a series of new reports that provides condensers market statistics, including condensers industry global market size, regional shares, competitors with a condensers market share, detailed condensers market segments, market trends, and opportunities, and any further data you may need to thrive in the condensers industry. This condensers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. Read the full report: https://www.reportlinker.com/p06282491/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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