Water-Cooled Condenser Market Size, Share, Opportunities, And Trends By Type (Double Tube Condenser, Shell & Tube Condenser, Shell & Coil Condenser), By Material (Stainless Steel, Brass, Titanium, Others), By End-Users (Automotive, Oil & Gas, Power & Energy, Industrial, Others), And By Geography - Forecasts From 2023 To 2028

  • Published : Jul 2023
  • Report Code : KSI061615792
  • Pages : 149

The water-cooled condenser market is estimated to grow at a CAGR of 5.73% during the forecast period.

The water-cooled condenser functions as a heat exchanger designed to extract heat from refrigerant vapor and transfer it to the water circulating within it. The water-cooled condenser finds applicability in various end-users including the automotive, oil & gas, and power & energy, among other sectors. The water-cooled condenser industry growth is significantly driven by these prominent sectors which operate in challenging environments. These sectors' specific requirements for efficient cooling and heat dissipation make water-cooled condensers an essential solution for them.

Booming automotive production bolsters the water-cooled condenser market growth.

Water-cooled condensers are extensively utilized in the automotive as they help dissipate heat generated by engines, transmissions, and other components, ensuring optimal operating temperatures and preventing overheating. This is crucial for enhancing the performance, efficiency, and longevity of vehicles. The growth of the automotive sector can be attributed to the increasing demand for transportation and personal vehicles, driven by a growing population and urbanization. As a result, drives the need for efficient cooling solutions like water-cooled condensers. According to the International Organization of Motor Vehicle Manufacturers, in 2022, the production of passenger cars in the USA witnessed a notable increase of 12%, reaching a total of 1,751,736 units compared to the previous year.

Emerging oil & gas drives the water-cooled condenser market

Water-cooled condensers are extensively used in oil refineries, petrochemical plants, and offshore drilling operations where they play a vital role in cooling and condensing vapors, facilitating the separation and purification of valuable hydrocarbons. The oil & gas sector is experiencing growth due to rising global oil demands coupled with an exploration of new reserves. According to the U.S. Energy Information Administration,  In 2021, Texas International Terminals successfully constructed a new refinery in the United States, commencing its operations by 2022. This state-of-the-art refinery boasts a capacity of 45,000 barrels per calendar day (b/cd). These factors contribute to increased production and drive the demand for water-cooled condensers in the sector.

Growing power & energy sector drives the water-cooled condenser market growth.

Power plants, both conventional and renewable, generate significant amounts of heat during electricity production, necessitating efficient cooling systems to maintain optimal operation and prevent equipment damage. Water-cooled condensers owing to their ability to extract and dissipate excess heat are extensively utilized in the power & energy sector. The growing shift towards sustainable energy sources coupled with increasing global electricity demand collectively drive the need for reliable cooling systems. According to the International Energy Agency, in 2022, global wind power witnessed a significant surge, with electricity generation increasing by 265 TWh, representing a remarkable growth of 14% compared to 2021.

Asia-Pacific is anticipated to dominate the water-cooled condenser market.

Asia-Pacific will hold a significant share of the market due to the robust presence and growth of the automotive and power & energy sectors in the region. According to the International Organization of Motor Vehicle Manufacturers, in 2022, India experienced a substantial growth of 33% in the production of heavy trucks, reaching an impressive 327,369 units as compared to the previous year. Also, according to the International Energy Agency, in 2022, China achieved a significant milestone by installing an impressive 37 GW of wind capacity, which includes 7 GW in offshore farms. The announcement of the 14th Five-Year Plan for Renewable Energy in the same year further solidifies China's commitment to ambitious targets for renewable energy deployment.

Substitute availability restrains the water-cooled condenser industry growth.

Certain applications are witnessing the increasing prominence of alternative cooling technologies like air-cooled condensers or hybrid systems. These alternatives are gaining traction due to their distinct advantages, including reduced water consumption, simplified installation processes, and lower maintenance requirements. As a result, the growing adoption of these alternative cooling technologies has the potential to limit the demand for water-cooled condensers in specific sectors or applications. For instance, in May 2023, IWC introduced an innovative line of Air-Cooled Condensers, featuring compact designs achieved through the integration of diffusers on the fan stacks. The condensers incorporate ambient air-cooled motors and gearboxes, further enhancing their efficiency and performance.

Company Products

  • 07D Carlyle Water-Cooled Condensing Unit: The Carrier Global Corporation offers the 07D Carlyle Water-Cooled Condensing Unit, specifically designed for versatile applications in commercial and industrial air conditioning and refrigeration. These units provide engineers with exceptional design flexibility, as they can be easily combined with a wide range of coils or chillers to create a cooling system that precisely matches the actual load requirements. This not only results in an energy-saving solution but also ensures efficient operation even at maximum load conditions.
  • Water-cooled Condenser with Sub-cool: The Denso Corporation offers a Water-cooled Condenser with Sub-cool, which efficiently heats water using thermal energy extracted by the heat pump, enabling its utilization for cabin heating purposes. This advanced condenser is characterized by its compact size, lightweight design, and high performance achieved through the implementation of micro fins. The incorporation of micro fins enhances heat transfer efficiency and optimizes the condenser's overall effectiveness, providing a reliable and efficient solution for heating water in various applications.
  • DVM S: Samsung Group presents the DVM S, a water-cooled system that features a Dual Inverter Compressor for enhanced efficiency. This advanced solution offers flexible installation options and includes a 28.0kW condenser, ensuring optimal performance. With its high efficiency and reliable operation, the DVM S water-cooled system by Samsung Group provides a versatile and effective cooling solution for a variety of applications.
  • Water-Cooled Condenser: Holtec specializes in providing water-cooled condensers that are meticulously designed and fabricated to meet the highest industry standards. These condensers offer exceptional performance, efficiency, and reliability, catering specifically to the needs of the commercial and nuclear power sectors. With a focus on quality and adherence to stringent standards, Holtec's water-cooled condensers deliver superior functionality and ensure optimal operation for critical applications in the power industry.

Water-Cooled Condenser Market Scope:


Report Metric Details
Growth Rate CAGR of 5.73% from 2022 to 2029
Base Year 2022
Forecast Period 2024 – 2029
Forecast Unit (Value) USD Billion
Segments Covered Type, Material, End-Users, and Geography
Regions Covered North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered Daikin Industries Ltd., Carrier Global Corporation, Denso Corporation, Holtec International, Samsung Group, Kendall Cold Chain System Co., Ltd.
Customization Scope Free report customization with purchase



  • By Type
    • Double Tube Condenser
    • Shell & Tube Condenser
    • Shell & Coil Condenser
  • By Material
    • Stainless Steel
    • Brass
    • Titanium
    • Others
  • By End-Users
    • Automotive
    • Oil & Gas
    • Power & Energy
    • Industrial
    • Others
  • By Geography
    • North America
      • USA
      • Canada
      • Mexico
    • South America
      • Brazil
      • Argentina
      • Others
    • Europe
      • Germany
      • UK
      • France
      • Spain
      • Others
    • Middle East and Africa
      • Saudi Arabia
      • UAE
      • Others
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Australia
      • Other


1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline


2.1. Research Data

2.2. Assumptions


3.1. Research Highlights


4.1. Market Drivers

4.2. Market Restraints

4.3. Porter’s Five Force Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis


5.1. Introduction

5.2. Double Tube Condenser

5.3. Shell & Tube Condenser

5.4. Shell & Coil Condenser


6.1. Introduction

6.2. Stainless Steel

6.3. Brass

6.4. Titanium

6.5. Others


7.1. Introduction

7.2. Automotive

7.3. Oil & Gas

7.4. Power & Energy

7.5. Industrial

7.6. Others


8.1. Introduction

8.2. North America

8.2.1. USA

8.2.2. Canada

8.2.3. Mexico

8.3. South America

8.3.1.  Brazil

8.3.2. Argentina

8.3.3. Others

8.4. Europe

8.4.1. Germany

8.4.2. UK

8.4.3. France

8.4.4. Spain

8.4.5. Others

8.5. Middle East and Africa

8.5.1. Saudi Arabia

8.5.2. UAE

8.5.3. Others

8.6. Asia Pacific

8.6.1. China

8.6.2. Japan

8.6.3. South Korea

8.6.4. India

8.6.5. Australia

8.6.6. Others


9.1. Major Players and Strategy Analysis

9.2. Emerging Players and Market Lucrativeness

9.3. Mergers, Acquisitions, Agreements, and Collaborations

9.4. Vendor Competitiveness Matrix


10.1. Daikin Industries Ltd.

10.2. Carrier Global Corporation

10.3. Denso Corporation

10.4. Holtec International

10.5. Samsung Group

10.6. Kendall Cold Chain System Co., Ltd.

Daikin Industries Ltd.

Carrier Global Corporation

Denso Corporation

Holtec International

Samsung Group

Kendall Cold Chain System Co., Ltd.