Evaporators and Evaporative Condensers Market

Evaporators & Evaporative Condensers Market Size

According to a recent study by Global Market Insights Inc., the global evaporators & evaporative condensers market was estimated at USD 7.2 billion in 2024. The market is expected to grow from 7.6 billion in 2025 to USD 12.7 billion in 2034, at a CAGR of 5.8%.

• The focus on reducing global energy consumption has resulted in a stronger demand for evaporators and evaporative condensers. Evaporators and evaporative condensers use energy more efficiently than traditional air-cooled equipment because they utilize a natural cooling process using water evaporation to remove heat.
  
• They will generally consume less electricity and provide increased cooling performance, particularly in industrial and commercial applications. This is especially true as energy costs increase, and businesses are looking for products that will produce operational savings over the longer term, leading naturally to energy efficient evaporative systems.
  
• The energy performance of evaporators and evaporative condensers will continue to improve as more smart controls, variable speed drives, and new heat exchange technologies are developed. The renewed global focus on energy efficiency has created a demand for next-generation evaporators and condensers that meet a host of efficiency standards.
  
• The demand for evaporators and evaporative condensers continues to be strong in industries where cooling is mission-critical and energy-intensive such as data centers, food processors and cold storage applications.
  
• Environmental regulations are at the point of driving the evaporative cooling market. Governments and international regulators are mandating stricter controls-related to carbon emissions, refrigeration options, and water efficiency criteria.
  
• Since evaporative condensers most often use natural or low-GWP refrigerants and consume lower amounts of energy, the direction of sustainability initiatives aligns well. Therefore, the industry continues to use evaporative systems to adhere to environmental mandates and reduce any regulatory risk.
  
• The trend towards sustainability certifications such as LEED and BREEAM will continue to impact purchasing decisions within construction and industrial commercial projects. Companies based on their environmental goals are investing into eco-friendly cooling technology and therefore engaging evaporative systems.
  
• The regulatory shift has been an integral catalyst creating environmental compliance, even if there are trade-offs. Federal, provincial, and municipal governments are focusing on environmental performance in technology and products, and manufacturers are continuously enhancing product experience and developing products in sustainable design, and environmentally friendly.
  
• Industries involved in food processing, pharmaceuticals, data technology, and similar applications that can reduce the amount of electricity they consume are finding solutions. Companies don’t want to slow down on performance due to the solutions, as they're looking to maximize cooling performance in their processes, meanwhile lowering energy costs.
  
• Companies are using evaporative condensers to discard heat using water, and by focusing on use consumptions and the refrigerants used are significantly lower than mechanical systems. For example, evaporative condensers are especially attractive in areas of elevation, and in climates prone to increased ambient temperature and rising electricity charges.
  
• North America's market expansion will continue to lead the way for a sustainable change which is partly founded on their industrial infrastructure history and early adoption of energy-efficient cooling technologies. The strong presence of food processing, pharmaceuticals and data centers will ensure a steady need for high-performance evaporative condenser products to meet intakes fluctuating demand.
  
• In addition, the commitment to sustainability and operational compliance with governing regulations such as ASHRAE standards and EPA guidelines has contributed heavily to convincing industrial users to embrace evaporative systems that support the use of natural refrigerants, facilitate reduced energy consumption, and decrease greenhouse emissions.
  

Evaporators & Evaporative Condensers Market Trends

• There is a strong movement within the market toward energy-efficient cooling technologies as companies recognize that reduced electric power consumption and operating costs matter. Evaporative condensers are beginning to take over due to their ability to provide high thermal performance, at relatively less energy input particularly in bulk food processing and industrial refrigeration systems.
  
• The market pressure toward change is away from reliance on electricity, as regulatory regimes push companies toward products/systems that can work with natural and low-GWP (Global Warming Potential) systems. Evaporative systems, as they relate to ammonia and CO2, are now preferred because the systems can be fashioned to comply with global sustainability standards and have lower impacts on the environment.
  
• One of the biggest trends is the expansion of cold-chain infrastructure, following a huge uptick in demand for temperature-sensitive products such as frozen foods, pharmaceuticals, biologics and more dependable evaporators and condensers that can guarantee reliable cooling methods in any storage or transport situation.
• Digitalization is shaping product development as manufacturers are creating evaporative systems with IoT and smart monitoring for predictive maintenance and real-time performance tracking and possible energy optimization, which are attractive for a modern processing industry.
  
• Concerns surrounding water usage are stimulating innovation in water-saving technologies, such as hybrid cooling systems and closed-loop designs in cooling applications. These new technologies are reducing environmental concerns and regulatory limitations, especially in water-stressed areas.
  
• With innovation comes eco-friendly HVAC systems, including evaporative condensers that efficiently use energy and are compatible with sustainable refrigerants. Evaporative condensers are becoming more prevalent across commercial and institutional projects, credited to innovation and guidelines such as environmental compliance, as well as a circulatory model that has represented long-term sustainable savings.
  

Evaporators & Evaporative Condensers Market Analysis

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Based on product type, the market is divided into evaporative condensers, unit coolers & air coolers, closed circuit coolers, adiabatic condensers and others. The evaporative condensers segment generating a revenue of USD 2.5 billion in 2024.

• Evaporative condensers are growing in popularity due to their high energy efficiency, and suitability for many industrial processes looking to lower electricity use and cut money costs. By using water evaporation to reject heat, evaporative condensers use less energy than air-cooled condensers, especially relative to high-load applications, like industrial refrigeration and HVAC systems.
  
• The new refrigerants being used for these applications are another huge benefit for customers adopting evaporative condensers because many of the natural refrigerants and low-GWP refrigerants align with new environmental regulations and sustainability goals. With countries looking to increase restrictions on refrigerants, it is clear that industries are moving in the direction of systems that allow for sustainable cooling mediums, evaporative condensers allow for that roadmap moving forward.
  
• The advantage of evaporative condensers is having compact design and space savings, especially in urban or industrial use where space is limited. Their two features heat exchange and evaporate cooling, in one equipment means less piping and auxiliary equipment are required, simplifying installation and reducing cost.
  
• The increased demand from cold chain logistics and food processing revolves around the fact there are strict and efficient cooling requirements to be complied with to maintain product integrity, and wastewater condensers are now the popular equipment of choice, providing reliable results even with ambient variance. Their ability to manage low condensing temperatures, improves efficiency for a broader range of applications, and encourages the continuing operation of cooling systems in critical situations.
  

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Based on application, the evaporators & evaporative condensers market is segmented into industrial refrigeration, commercial HVAC, process cooling, power generation, data centers and others. The industrial refrigeration held a major market share, generating a revenue of USD 2.3 billion in 2024.

• The industrial refrigeration sector is driven by industries that require high-capacity, continuous cooling such as processing food, cold storage or distribution, pharmaceutical manufacturing, and chemical processing. The use of evaporative condensers is ideal; they provide low condensing temperatures, leading to improved efficiency and reliability and continuous operation when heavily loaded.
  
• While many factors contribute to the growth of industrial refrigeration, the expansion of the cold chain infrastructure drives much of the growth of the global industrial refrigeration market. The growing demand for frozen and perishable goods, especially in emerging economies markets, is spurring new investments in refrigerated warehouses and distribution centers where evaporative cooling systems enable strict temperature control under increasingly energy efficient systems.
  
• Industrial users utilize evaporative systems in increasing volumes due to both the sustainability and compliance aspects of industrial refrigeration and outcomes from global concerns about environmental impacts. These systems can assist industries in meeting regulatory and environmental objectives while providing cost savings from the reduced consumption of refrigerants and fewer kilowatts of energy.
  
• Additionally, the operational reliability and scalability of evaporative condensers within industrial environments make such condensers the more common choice. The ruggedness, lower service requirements for maintenance, and adaptability to load variations make evaporative condensers ideally suited for industrial refrigeration applications and aligned with mission-critical systems where downtime does not exist, and reliability is paramount.
  

Based on technology, the market is segmented into combined flow, fan systems, and draft configurations. The combined flow segment held the largest share, accounting for 47% of the evaporators & evaporative condensers market in 2024.

• Combined flow technology in evaporative systems is the primary consideration due to these technologies superior thermal efficiency, coming from enrollment of both counterflow and parallel flow heat exchange methodologies.
  
• The combined flow technology will give better heat transfer performance, with lower condensing temperatures equating to better energy efficiency and chilling capacity regards the key driver emphasis from industrial and commercial system users. Technology allows more operational flexibility and reliability, as it works and provides consistent performance and recovery in a greater range of ambient conditions or load variation.
  
• As a result, the combined flow of technology allows for consistent performance and recovery from peak demand or demanding environmental conditions. This level of flexibility and design allows users to consider the technology for mission critical applications such as climate-controlled data centers, cold storage or process cooling.
  

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In 2024, the U.S. dominated the evaporators & evaporative condensers market, accounting for around 69% share and generating around USD 2.7 billion revenue in the same year.

• The U.S. is the leader in evaporators and evaporative condensers market share due to a larger industrial base being equipped throughout with agricultural processes, energy efficient options, and meaningful environmental legislation. Major manufacturers exist throughout the U.S., as well as engineering companies for innovation with sustained awareness of sustainable cooling solutions that may include evaporative systems food and beverage processing, pharmaceutical manufacturing and data storage industries.
  
• The strength of North America market share is due to a mature cold chain infrastructure with proactive investments in green building development.
  
• Industrial and commercial businesses, especially in North America, are increasingly using evaporative condensers to reach performance and sustainability targets. The ability to purchase through established supply channels, both in person and digitally will help sustain the growth and availability of evaporative condensers.
  

The Europe evaporators & evaporative condensers market holds second largest share in 2024 and is expected to grow at 6.1% during the forecast period.

• Europe is a crucial region within the evaporators and evaporative condensers market influenced by a strong regulatory environment promoting energy efficiency and environmental sustainability. In countries like Germany, France, and Netherlands, policies promoting low-GWP refrigerants and green concepts are accelerating the adoption of evaporative cooling approaches in industrial and commercial sectors.
  
• The region has a strong manufacturing base and level of technical expertise, which allows for faster application of new cooling technologies. European industries are placing increasing value on sustainable infrastructure in evaporative-condensing equipment applications in food processing, pharmaceuticals, and district cooling projects where the goal is to meet performance and compliance.
  

The Central & South America evaporators & evaporative condensers market holds a market share of around 12% in 2024 and is anticipated to grow with a CAGR of around 5.3% from 2025 to 2034.

• Growing demand for evaporative condensers in Central and South America is viewed because of the growth in agro-industrial and food processing industries in Brazil, Argentina, and Chile. The nature of these industries requires robust, energy-efficient cooling systems for large-scale refrigeration, evaporative condensers are an inexpensive option compared to other technologies for cooling in regions with the hottest ambient temperatures and decreasing energy costs.
  
• The drift to sustainable infrastructure, along with efforts to modernize cold chain logistics restarts, is supporting market growth in the region. Public and private sectors are investing in technologies that will align with their environmental standards and evaporative systems, and systems that can use natural refrigerants are included in new industrial projects. The increased awareness of energy-saving benefits, along with the introduction of equipment through local vendors, has aided the continued use of evaporative condensers with mid-sized enterprises.
  

Evaporators & Evaporative Condensers Market Share

Carrier Global Corporation is leading with a 12% market share. Carrier Global Corporation, Johnson Controls, Daikin Industries, Baltimore Aircoil Company, EVAPCO, Inc. hold 25%, indicating moderately fragmented market concentration.

• These prominent players are proactively involved in strategic endeavors, such as mergers & acquisitions, facility expansions & collaborations, to expand their product portfolios, extend their reach to a broad customer base, and strengthen their market position.
  

• Baltimore Aircoil Company (BAC) is a worldwide prominent cooling solutions provider and industry participant in heat rejection technology; with an emphasis on new product advancements supported by energy efficiency and sustainability. BAC has a large selection of evaporative condensers and cooling towers for the HVAC, food processing, and data center industries. BAC's emphasis on research and development of heat rejection and evaporation technologies is complemented by an extensive global service network for these products, establishing BAC as a recognized leader of high-quality and environmentally friendly cooling solutions.
  
• SPX Cooling Technologies has a dominant position in the industrial cooling market by manufacturing innovative evaporative condensers and hybrid cooling systems. SPX engineering solutions and capabilities produce excellent, custom-tailored solutions for Power Generation, Petrochemical facilities, and commercial businesses. SPX has a focus on designs that save water and integrate "smart controls" producing the confidence of being a forward-thinking enterprise in the sustainable cooling space within the industrial industry.
  

Evaporators & Evaporative Condensers Market Companies

Major players operating in the evaporators & evaporative condensers industry are:

• Alfa Laval
• Baltimore Aircoil Company (BAC)
• Carrier Commercial Refrigeration
• Colmac Coil Manufacturing
• Daikin Industries
• EVAPCO
• Frigel Group
• Guntner Group
• Heatcraft Refrigeration Products
• Johnson Controls
• Kelvion Holding
• SPX Cooling Technologies
• GEA Group
• Swenson Technology
• Thermax
  

Daikin Industries is a major diversified global HVAC and refrigeration company with expanding interest in evaporative cooling technologies.  Daikin is known in the HVAC industry for its innovation and consistent quality, as it continues to incorporate energy-efficient components and evaporative coils with environmentally friendly refrigerants into its systems.  Daikin's strong distribution network and long history of achieving green building standards in its systems make it a preferred supplier and vendor choice for commercial and industrial clients looking for compliant and reliable evaporative and HVAC technologies.

Güntner Group is a reputable, long established European manufacturer of heat exchangers and evaporative condensers.  The company is known for sound engineering, modular product designs, and sustainability. Güntner's products hold market share in food logistics, cold storage, and industrial refrigeration, and the company's commitment and solutions with natural refrigerants and optimization of energy reference the development of various evolving environmental regulations.

Evaporators & Evaporative Condensers Market News

• In January 2025, EVAPCO has launched the Ejet evaporator, a new evaporator specifically designed to increase the capacity and efficiency of low-charge ammonia refrigeration systems, utilizing direct expansion (DX) evaporators. The Ejet evaporator technology is the first to successfully combine the benefits of both the low refrigerant charge and stable operation of DX systems with a level of efficiency normally seen in high efficiency pumped liquid recirculation systems.
  
• In November 2024, Carrier Commercial Refrigeration has released a new version of its QuietCO2OL condensing unit offering improved performance, flexibility, and energy efficiency, to replace a pre-existing CO2-based refrigeration system. Based on a highly successful unit released in 2017, this updated version features the new MCXH gas cooler, which accommodates lower refrigerant and oil charges while supporting much larger evaporators with lower refrigerated load, for a much lighter and more efficient overall unit.
  
• In June 2024, Alfa Laval announced the release of the AC65 brazed plate heat exchanger to support the growing high-volume residential heat pump sector. With demand for next-generation evaporators and condensers increasing, the AC65 offers maximum thermal efficiency allowing heat pumps to achieve COP rates above 4.5 under nominal conditions. With a compact construction that is tall and thin, an effective thermal length is created for good heat transfer. Compact modular heat exchangers can be utilized in reversible heat pumps as an evaporator and a condenser.
  
• In May 2024, Daikin launched its new R-32 refrigerant units representing a step forward for evaporators and evaporative condensers. The product offers low-GWP refrigerant     
  

R-32 as a blend of the best thermodynamic performance and up to 73.6% lower direct emissions vs R-410A. Daikin's R-32 systems use energy much more efficiently with a reduced refrigerant charge, making them extremely practical for both industrial and commercial applications. Daikin has developed Dew Clean Technology, which automatically cleans the indoor heat exchanger and therefore eliminates bacteria, mold, and odors from returning airflow with the indoor air quality being improved.

The evaporators & evaporative condensers market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion) and volume (Thousand Units) from 2021 to 2034, for the following segments:

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Market, By Product Type

• Evaporative condensers
• Unit coolers & air coolers
• Closed circuit coolers
• Adiabatic condensers
• Others

Market, By Application

• Industrial refrigeration
• Commercial HVAC
• Process cooling
• Power generation
• Data centers
• Others

Market, By  Technology

• Combined flow
• Fan systems
• Draft configurations

Market, By Distribution channel

• Direct sales
• Indirect sales

The above information is provided for the following regions and countries:

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Central & South America
  • Brazil
  • Argentina
  • Chile
  • Colombia