Global Refrigerant Compressors Market is valued approximately at USD 38.33 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2023-2030. Refrigerant compressor is a mechanical device used in refrigeration and air conditioning systems to compress and circulate refrigerant gases within the system. The compressor plays a crucial role in the refrigeration cycle by increasing the pressure and temperature of the refrigerant gas, turning it into a high-pressure, high-temperature vapor. This compressed vapor then moves through the system to release heat and absorb it from the surrounding environment. Key components of a refrigerant compressor include a motor, a compression mechanism, and valves. Moreover, the rising demand for cooling systems, growing food and beverage industry, and expanding cold chain logistics are anticipated to create lucrative demand for the market during forecast period 2023-2030.
Additionally, the growing processed food market significantly supports the expansion of the Refrigerant Compressors Market. As the demand for processed food continues to rise, there is an increased need for efficient and reliable refrigeration systems in the food processing and storage industry. According to Statista, in 2017, the processed food industry in South Korea was valued USD 61 billion and the market is increased significantly and reached USD 78 billion in 2021. As a result, the rising processed food market is anticipated to support the market growth. Moreover, ongoing advancements in compressor technology, such as the development of more energy-efficient and environment friendly compressors and growing HVACR industry is anticipated to create lucrative opportunity for the market growth. However, strict government regulations, and high initial costs and maintenance expenses stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Refrigerant Compressors Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the rising demand for air conditioning and HVAC systems, ongoing advancements in compressor technology, expansion of the retail and foodservice sectors, and presence of key market plyers. Whereas, Asia Pacific region is expected to grow with the fastest growth rate during the forecast period, owing to factors such as the rising demand for air conditioning and refrigeration, growing rapid urbanization and infrastructure development projects, and growth of various industries, including manufacturing, food processing, and pharmaceuticals.
Major market player included in this report are:
- BITZER Group
- Tecumseh Products Company
- LG Electronics
- Johnson Controls
- samsung electronics co., ltd.
- Mitsubishi Electric Corporation
- Carrier Global Corporation
- Copeland LP
- Panasonic Holdings Corporation
- Danfoss A/S
Recent Developments in the Market:
- In November 2020, Emerson has introduced the latest Copeland(TM) Scroll Compressors designed for commercial comfort applications, aligning with efficiency standards and regulations related to refrigerants.
Global Refrigerant Compressors Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Type, Refrigerant, End User Industry, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type:
- Centrifugal
- Rotary
- Reciprocating
By Refrigerant:
- Ammonia
- Carbon Dioxide
- Hydroflurocarbon (HFC)
- Hydrochlorofluorocarbons (HCFC)
- Others
By End User Industry:
- Food and Beverage
- Chemical and Petrochemical
- Pharmaceutical
- Domestic
- Other
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1.Executive Summary
- 1.1.Market Snapshot
- 1.2.Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1.Refrigerant Compressors Market, by region, 2020-2030 (USD Billion)
- 1.2.2.Refrigerant Compressors Market, by Type, 2020-2030 (USD Billion)
- 1.2.3.Refrigerant Compressors Market, by Refrigerant, 2020-2030 (USD Billion)
- 1.2.4.Refrigerant Compressors Market, by End User Industry, 2020-2030 (USD Billion)
- 1.3.Key Trends
- 1.4.Estimation Methodology
- 1.5.Research Assumption
Chapter 2.Global Refrigerant Compressors Market Definition and Scope
- 2.1.Objective of the Study
- 2.2.Market Definition & Scope
- 2.2.1.Industry Evolution
- 2.2.2.Scope of the Study
- 2.3.Years Considered for the Study
- 2.4.Currency Conversion Rates
Chapter 3.Global Refrigerant Compressors Market Dynamics
- 3.1.Refrigerant Compressors Market Impact Analysis (2020-2030)
- 3.1.1.Market Drivers
- 3.1.1.1.Rising demand for cooling systems
- 3.1.1.2.Growing food and beverage industry
- 3.1.1.3.Expanding cold chain logistics
- 3.1.2.Market Challenges
- 3.1.2.1.Strict government regulations
- 3.1.2.2.High initial costs and maintenance expenses
- 3.1.3.Market Opportunities
- 3.1.3.1.Ongoing advancements in compressor technology
- 3.1.3.2.Growing HVACR industry
Chapter 4.Global Refrigerant Compressors Market: Industry Analysis
- 4.1.Porter's 5 Force Model
- 4.1.1.Bargaining Power of Suppliers
- 4.1.2.Bargaining Power of Buyers
- 4.1.3.Threat of New Entrants
- 4.1.4.Threat of Substitutes
- 4.1.5.Competitive Rivalry
- 4.2.Porter's 5 Force Impact Analysis
- 4.3.PEST Analysis
- 4.3.1.Political
- 4.3.2.Economic
- 4.3.3.Social
- 4.3.4.Technological
- 4.3.5.Environmental
- 4.3.6.Legal
- 4.4.Top investment opportunity
- 4.5.Top winning strategies
- 4.6.COVID-19 Impact Analysis
- 4.7.Disruptive Trends
- 4.8.Industry Expert Perspective
- 4.9.Analyst Recommendation & Conclusion
Chapter 5.Global Refrigerant Compressors Market, by Type
- 5.1.Market Snapshot
- 5.2.Global Refrigerant Compressors Market by Type, Performance - Potential Analysis
- 5.3.Global Refrigerant Compressors Market Estimates & Forecasts by Type 2020-2030 (USD Billion)
- 5.4.Refrigerant Compressors Market, Sub Segment Analysis
- 5.4.1. Centrifugal
- 5.4.2.Rotary
- 5.4.3.Reciprocating
Chapter 6.Global Refrigerant Compressors Market, by Refrigerant
- 6.1.Market Snapshot
- 6.2.Global Refrigerant Compressors Market by Refrigerant, Performance - Potential Analysis
- 6.3.Global Refrigerant Compressors Market Estimates & Forecasts by Refrigerant 2020-2030 (USD Billion)
- 6.4.Refrigerant Compressors Market, Sub Segment Analysis
- 6.4.1. Ammonia
- 6.4.2.Carbon Dioxide
- 6.4.3.Hydroflurocarbon (HFC)
- 6.4.4.Hydrochlorofluorocarbons (HCFC)
- 6.4.5.Others
Chapter 7.Global Refrigerant Compressors Market, by End User Industry
- 7.1.Market Snapshot
- 7.2.Global Refrigerant Compressors Market by End User Industry, Performance - Potential Analysis
- 7.3.Global Refrigerant Compressors Market Estimates & Forecasts by End User Industry 2020-2030 (USD Billion)
- 7.4.Refrigerant Compressors Market, Sub Segment Analysis
- 7.4.1. Food and Beverage
- 7.4.2.Chemical and Petrochemical
- 7.4.3.Pharmaceutical
- 7.4.4.Domestic
- 7.4.5.Other
Chapter 8.Global Refrigerant Compressors Market, Regional Analysis
- 8.1.Top Leading Countries
- 8.2.Top Emerging Countries
- 8.3.Refrigerant Compressors Market, Regional Market Snapshot
- 8.4.North America Refrigerant Compressors Market
- 8.4.1.U.S. Refrigerant Compressors Market
- 8.4.1.1.Type breakdown estimates & forecasts, 2020-2030
- 8.4.1.2.Refrigerant breakdown estimates & forecasts, 2020-2030
- 8.4.1.3.End User Industry breakdown estimates & forecasts, 2020-2030
- 8.4.2.Canada Refrigerant Compressors Market
- 8.5.Europe Refrigerant Compressors Market Snapshot
- 8.5.1.U.K. Refrigerant Compressors Market
- 8.5.2.Germany Refrigerant Compressors Market
- 8.5.3.France Refrigerant Compressors Market
- 8.5.4.Spain Refrigerant Compressors Market
- 8.5.5.Italy Refrigerant Compressors Market
- 8.5.6.Rest of Europe Refrigerant Compressors Market
- 8.6.Asia-Pacific Refrigerant Compressors Market Snapshot
- 8.6.1.China Refrigerant Compressors Market
- 8.6.2.India Refrigerant Compressors Market
- 8.6.3.Japan Refrigerant Compressors Market
- 8.6.4.Australia Refrigerant Compressors Market
- 8.6.5.South Korea Refrigerant Compressors Market
- 8.6.6.Rest of Asia Pacific Refrigerant Compressors Market
- 8.7.Latin America Refrigerant Compressors Market Snapshot
- 8.7.1.Brazil Refrigerant Compressors Market
- 8.7.2.Mexico Refrigerant Compressors Market
- 8.8.Middle East & Africa Refrigerant Compressors Market
- 8.8.1.Saudi Arabia Refrigerant Compressors Market
- 8.8.2.South Africa Refrigerant Compressors Market
- 8.8.3.Rest of Middle East & Africa Refrigerant Compressors Market
Chapter 9.Competitive Intelligence
- 9.1.Key Company SWOT Analysis
- 9.1.1.Company 1
- 9.1.2.Company 2
- 9.1.3.Company 3
- 9.2.Top Market Strategies
- 9.3.Company Profiles
- 9.3.1. BITZER Group
- 9.3.1.1.Key Information
- 9.3.1.2.Overview
- 9.3.1.3.Financial (Subject to Data Availability)
- 9.3.1.4.Product Summary
- 9.3.1.5.Recent Developments
- 9.3.2.Tecumseh Products Company
- 9.3.3.LG Electronics
- 9.3.4.Johnson Controls
- 9.3.5.samsung electronics co., ltd.
- 9.3.6.Mitsubishi Electric Corporation
- 9.3.7.Carrier Global Corporation
- 9.3.8.Copeland LP
- 9.3.9.Panasonic Holdings Corporation
- 9.3.10.Danfoss A/S
Chapter 10.Research Process
- 10.1.Research Process
- 10.1.1.Data Mining
- 10.1.2.Analysis
- 10.1.3.Market Estimation
- 10.1.4.Validation
- 10.1.5.Publishing
- 10.2.Research Attributes
- 10.3.Research Assumption