Evaporative Condensing Unit Market to USD 1.93 Billion by 2032, Owing to Increasing Demand for Energy-Efficient Refrigeration Solutions | Research by SNS Insider

Austin, May 13, 2025 (GLOBE NEWSWIRE) -- The Evaporative Condensing Unit Market size was valued at USD 1.22 billion in 2023 and is expected to reach USD 1.93 billion by 2032, growing at a CAGR of 5.28% over the forecast period from 2024 to 2032.

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The Evaporative Condensing Unit Market is experiencing strong growth, driven by the increasing need for energy-efficient refrigeration systems in industries such as food processing, cold storage, and HVAC. With global efforts to reduce energy consumption and lower carbon footprints, evaporative condensing units have become the preferred choice. Their ability to provide high-performance cooling with lower energy costs aligns with the rising focus on environmental sustainability, making them an essential solution for energy-conscious industries.

The U.S. Evaporative Condensing Unit Market was worth USD 0.26 billion in 2023 and is expected to reach USD 0.39 billion by 2032, growing at a CAGR of 4.51% during 2024-2032. The market is primarily driven by the increasing demand for energy-efficient cooling solutions in various sectors, including food processing, cold storage, and HVAC.

Key Players:

• Baltimore Aircoil Company – (CXVB Evaporative Condenser, TrilliumSeries Adiabatic Condenser)
• Evapco, Inc. – (eco-ATWB-E Evaporative Condenser, ATC-E Evaporative Condenser)
• Mammoth – (Custom HVAC Systems, Modular Chiller Plants)
• SPX Corporation – (Marley MH Element Fluid Cooler, Recold JC Evaporative Condenser)
• Johnson Controls International PLC – (FRICK Evaporative Condenser, YORK® Ammonia Condensers)
• AAON, Inc. – (RZ Series Condensing Unit, RN Series Rooftop Unit)
• Decsa Srl – (WTS Evaporative Condenser, ECO-DS Series Cooling Towers)
• Daikin Industries Ltd. – (ZEAS Condensing Unit, Conveni-Pack Refrigeration System)
• Nortek Air Solutions, LLC. – (Reznor HVAC Condensing Units, Mammoth Custom Air Handling Units)
• TEVA - Tecnicas Evaporativas, S.L – (TEVA ECO Evaporative Condenser, TEVA RCT Cooling Tower)
• Temp Tech Co., Ltd. – (TTC Evaporative Condenser, TTC Hybrid Cooling System)

Evaporative Condensing Unit Market Report Scope:

Refrigeration Application and Industrial Sector Lead the Evaporative Condensing Unit Market in 2023, Driven by Energy Efficiency and Sustainable Cooling Solutions

By Application: In 2023, the refrigeration application emerged as the leading segment in the Evaporative Condensing Unit Market, securing 51.89% of the total revenue. This dominance is mainly attributed to the growing use of evaporative condensing units in food processing plants, cold storage, and other industrial refrigeration systems. Highly energy efficient and stable on low temperature characteristics of these units maintain the quality of product ensuring the preservation of perishable foods. Because of their capacity to cut down energy usage while providing reliable cooling, big, large-scale operations make use of their cost-effectiveness. Moreover, the increasing need for eco-friendly and energy-saving refrigeration solutions in various sectors enabled the broad adoption of evaporative condensing units in refrigeration applications in the year.

By End Use: The industrial sector dominated the Evaporative Condensing Unit Market in 2023, contributing 56.24% of the total revenue. Such leadership has been driven by the growing demand for economical and energy-efficient refrigeration systems in different industrial applications. Food processing, chemical manufacturing, cold storage, and other key industries depend on accurate temperature control to ensure product quality, meet safety standards, and achieve operational efficiency. Evaporative condensing units also provide significant energy-saving capabilities with reliable refrigerant condensation in industrial environments. Moreover, increasing environmental regulations and demand for sustainable cooling solutions available from providers have acted as a driver and catalyst for these systems to proliferate throughout the industrial industry.

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North America Leads Evaporative Condensing Unit Market with 32.49% Share in 2023, Asia Pacific Set for Rapid Growth, Projected to Reach 6.24% CAGR

The North America region dominated with a market share of over 32.49% in 2023. It was mostly due to severe energy efficiency regulations that were introduced to minimize environmental and operational costs. Market growth was also supplemented by the rising need for task-specific, reliable, and high-performance solutions in industrial refrigeration and HVAC applications. The region’s intense focus on retrofitting old cooling systems and moving towards sustainable infrastructure was also a critical factor, he said. The shift toward cleaner technologies also heightened the demand for energy-efficient condensing units compatible with commercial and industrial sectors, further establishing North America's leadership in this global market. The adoption of innovative cooling solutions in North America will continue to thrive, as more industries move toward greener alternatives.

In 2023, Asia Pacific is projected to record the highest growth rate of 6.24% in the Evaporative Condensing Unit Market during the forecast period. The reason behind this growth is mostly rapid industrialization and urbanization of countries like China, India, and the Asian countries. Demand for refrigeration systems that are highly reliable is increasing in the food processing and cold storage industries, which in turn is driving the market. Moreover, increasing investment in commercial infrastructure and escalating adoption of energy-efficient cooling technologies are acting as market growth factors. The promotion of sustainable industrial practices initiated by government authorities, as well as the proliferation of supermarket chains and logistics hubs, and food distribution centers, are propelling the rapidly increasing demand for evaporative condensing units within the region and establishing Asia Pacific as a growth market.

Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Evaporative Condensing Unit Market Segmentation, By End Use

8. Evaporative Condensing Unit Market Segmentation, By Application

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practice

12. Conclusion

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